How to Get Licensed and Bonded

Source: jwsuretybonds.com/edu/how-to-get-bonded-and-ins… Read our full guide now!

- I'm starting my own business selling used cars and would like to learn how to get licensed and bonded.
- I'm starting a new security business and want to learn about getting bonded, too.
- Okay. I can help you both determine if you need a bond and if so how to become one. Let's talk about each of your scenarios one at a time. Auto dealers are required by state governments throughout the country to apply for a license and post a surety bond (bit.ly/37GO9n8) in order to sell cars. The license is your formal permission to sell cars in your state and the bond guarantees you will do so following the state rules. Hence the phrase" licensed and bonded".
- Great! So, what's the first step?
-You can start by contacting the government department that regulates your industry to ensure you meet the licensing requirements and obtain an application. In your case: the DMV. Once you're sure you meet the state requirements you'll want to apply for a surety bond (bit.ly/3KLB5eq) as they won't let you start your business without it.
- Thanks! That's pretty straightforward.
- No problem.
- So how do I get bonded? (bit.ly/3KVVz44)
- Most state and local governments do not require security businesses to post a license or become bonded. Did you check to see if there are any government requirements where you plan on operating?
- I checked into it and there's no license to obtain and no bond requirement. However, I think it would be good to list it on my marketing materials. I want to provide my clients peace of mind.
- I see. In that case you cannot be licensed and bonded. However, if you want to provide your clients with some peace of mind you can purchase an employee theft insurance policy. It's called the fidelity bond (bit.ly/3u59azu) and is the business bonding that many people are referring to when they say they are "bonded and insured". However, they work differently than surety bonds and should not be confused as the same product.
- That's exactly what I'm looking for. But why is it so different than the surety bond that she is required to post?
- To put it simply, as surety bond is a form of credit to you, not insurance. It is insurance for the government and its citizens. There is quite a bit to it. So if you're in need of a surety bond you need to join me for our next video "What is a surety bond" (bit.ly/3izFo0t). It is important that you know what you're getting into.

Additional resources:
- Surety Bonds Explained: bit.ly/3izFo0t
- Bonding Insurance Explained: bit.ly/3ieggMx
- What Does It Mean to Be Bonded and Insured: bit.ly/3tn7ulq
- Fidelity Bonds Explained: bit.ly/3u59azu
- Get a FREE bond quote now: bit.ly/3KLB5eq
- How to Choose The Right Bond Agency: bit.ly/3u8fWEt
- How JW Surety Bonds Is Different: bit.ly/3qcKLXh
- Surety Bonds FAQs: bit.ly/37HplLK

About JW Surety Bonds: We are a family owned and operated agency established in 2003. We started with just two people, and grew to become the largest volume bond producer in the nation with 50+ employees. Since day one, our team focus has been on providing real-time online quotes, an easy process, and the best in claims defense. Learn more about our company: bit.ly/3KR2Wd6