What is a license and permit bond? License bonds are required by federal, state and local government agencies as prerequisites for many licensed businesses to legally operate. The license bond guarantees that the business will operate in accordance with the applicable government rules and regulations. Similarly, a permit bond is required before a government agency will issue a permit. Who needs this bond? A business that is required by a government agency to obtain a bond as a condition to granting a license or permit. What is the amount of the bond? The amount of the bond will vary based on the type of business and the particular government agency requiring the bond. What is the process to obtain a license and permit bond? Colonial offers the direct and digital way to obtain a license and permit bond. We are the insurance company — which means no agent, no broker, and no middleman. We make it easy to obtain your bond instantly. The steps are simple — get a quote online, fill out your information, and enter your payment method. Print your bond from your home or office. It’s that simple! What does a license and permit bond cost? A license and permit bond is reasonably priced and easy to obtain. You may notice that with other insurance agents and middlemen companies, your premium rate will fluctuate and include additional hidden fees and costs. Colonial offers our lowest possible rate. Premium is based on the amount of the bond required by the applicable government agency. Does it matter where I get the bond? It is important to understand how surety bonds work, and who is the insurance company issuing your bonds. It is easy to obtain a license and permit bond when you deal direct with a quality insurance company licensed to write surety bonds. Colonial is an A (Excellent) rated insurance company by A.M. Best, that has been incorporated since 1930. We are Treasury listed, and licensed and admitted in all U.S. states and territories.
