Automobile club bond cost
The Mississippi Department of Insurance requires automobile clubs to post $15,000 surety bonds.
These bonds are subject to underwriting consideration, so the amount you’ll pay depends on a review of your personal credit report. Don’t let poor credit stop you from getting the bond you need! We have a history of approving 99% of applicants for the bonds they need quickly, easily and accurately.Give us a call at 888.610.4474 or submit a bond request to begin our fast and easy bonding process.
Why this bond
Automobile club bonds in Mississippi ensure that principals (automobile clubs) faithfully observe the provisions of 83-11-201 through 83-11-347 of the Mississippi Code Annotated. The bond protects club members who suffer financial loss as a result of the principal’s actions. Typically, these bonds ensure that automobile club members are reimbursed for unearned membership dues if the club ceases to operate.
Automobile club bond details
Automobile club surety bonds in Mississippi remain continuous until the surety is released from further liabilities by the Commissioner of Insurance.
Become an automobile agent
To become a licensed automobile agent in Mississippi, applicants must file a license application with the Mississippi Insurance Department. Applications must be fully completed and signed by 2 executive officers. The required signatures must be notarized. The following materials must accompany each license application:
- a copy of the club’s certified bylaws
- a copy of the charter
- a questionnaire for directors, officers, managers and owners
- the most recent year-end financial statement
- copies of each contract, service brochure and service agreement
- an issued certificate given by the Secretary of State verifying registration
- a legal process form
- a company authorized signature
- a $15,000 surety bond
- required fees
Apply for your surety bond
Get a FREE Mississippi Automobile Club Bond Quote Today! Click here to begin
- Mississippi Insurance Department Surety Bond Automobile Club form
- Mississippi Insurance Department Automobile Club Licensing Procedures
- State of Mississippi Application for Automobile Club Company License
- Mississippi Insurance Department Automobile Clubs Questionnaire for Owners, Directors, Officers, and Managers