Certificate of title bond cost
Before the Department of Motor Vehicles can issue a certificate of title, applicants with lost or stolen titles for their vehicles must file a surety bond with the Commissioner of the Department. The amount of the bond must be equal to 2 times the appraised value of the vehicle.
Applicants must verify their required bond amount with the state prior to contacting Surety Bonds. Surety Bonds offers 3-year Connecticut certificate of title bonds for different prices depending on the applicant’s required amount of bond coverage.
Bonds in amounts less than $25,000 can be issued instantly without a credit check! Bonds in amounts less than $6,000 will cost just $100, and bonds in amounts between $6,000 and $25,000 will cost just $15 per every $1,000 of the required bond amount. Bonds in amounts greater than $25,000 are subject to underwriting.
Why this bond
By posting a Connecticut certificate of title bond, the principal (vehicle owner) gives his/her written pledge that the purchased vehicle was not obtained under fraudulent circumstances.
The bond protects any prior owners and lien holders, as well as any subsequent purchasers of the vehicle if the principal fails to comply with the terms of the surety contract.
Certificate of title bond details
Lost title bonds in Connecticut remain effective for a 3-year term. The bond and any deposit accompanying it will be returned at the end of 3 years or prior if the vehicle is no longer registered in Connecticut and the valid certificate of title is surrendered to the commissioner. The year, make, model and identification number of the vehicle must be listed on the bond form.
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