Idaho Surety Bonds

Surety Bond Requirements in ID

If you operate a collection agency, motor vehicle dealership, or title agency in the state of Idaho, you'll need to have a surety bond in the proper amount set by your industry's regulatory authority.

While many bonds are required at the state level, you should be aware that several cities in Idaho require surety bonds as well. For example, Boise requires bonds for security alarm installers, Pocatello requires contractor license bonds, and Twin Falls requires private security agency bonds.

To make sure you're in compliance with Idaho bonding regulations, talk to one of our specialists. NNA Surety Bonds has been providing affordable policies to companies and individuals across the United States since 1957.

We offer the following surety bonds in the state of Idaho:

Collection Agency Bond

Idaho collection agencies must post a $15,000 surety bond to the ID Department of Finance along with your license application. Annual premiums for this debt collector bond start at $150.

Should a collection agency mishandle personal information, fail to report and pay collections to clients, or otherwise violate the terms of the bond agreement, money from the bond can be used to compensate the affected party. You, as the bond principal, must then repay that amount to your surety company.

Motor Vehicle Dealer Bond

New and used motor vehicle dealers in Idaho must provide a surety bond as a licensing requirement when applying to the state's Transportation Department. The amount of the bond depends on what you're selling and whether it's a retail or wholesale business.

Bond Amounts for Idaho Auto Dealers
Type of Dealership Bond Amount
Retail dealers selling only ATVs, UTVs and snowmobiles $10,000
All other retail dealers $20,000
Wholesale-only dealers $40,000

Your cost for an Idaho auto dealer bond will depend on the size of the bond and your credit score. Nevertheless, it will be a small percentage of the full bond amount.

Title/Escrow Agency Surety Bond

To work as a title agent in Idaho, you'll first need an escrow surety bond. The amount of this bond is set by the ID Department of Insurance according to the following rules:

  • $10,000 for each county in which the title agent is licensed.
  • $10,000 for each additional person employed as an escrow officer in the county.
  • $50,000 maximum, irrespective of the number of counties or escrow officers.

The bond can be tapped to pay damages sustained by the public if the title insurance agent or escrow officer fails to comply with the provisions of section 41-2704(3) of the Idaho Code. Actions that are prohibited include fraud, dishonesty, forgery, theft, and willful misapplication of funds. Should a payout occur, you would be responsible for repaying the full amount to the surety company.

Idaho Surety Bond Costs
Bond Name Coverage Amount Cost*
(Annual Premium)
Regulatory Authority
Collection Agency Bond $15,000 $150 Idaho Dept. of Finance
Motor Vehicle Dealer Bond $10,000/$20,000/$40,000 $100/$200/$400 Idaho Transportation Dept.
Title Agency Bond $10,000–$50,000 Varies Idaho Dept. of Insurance

* Cost can vary depending on the bond amount required and your credit rating

Get Your Idaho Surety Bond

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Our knowledge of Idaho bond requirements allows our team to provide accurate quotes quickly. For guidance through the process of selecting or renewing surety bonds for your business, talk to one of our experts today.

For faster service, call us at 855-215-2160
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Providing Bonds and Insurance Since 1957