How Much Coverage Do You Need To Bond For? Most of the time if you are told that you need a bond, The Department of Motor Vehicles has given you a Bond Amount. If this is not the case, you can usually Plan on needing to bond 150% of the Blue Book Value or estimated value of the vehicle.
The Bond Premium for of a defective Title Bond is calculated at a
percentage of how much of a bond you need. For Example,
If your Vehicles worth $10,000.00
And your Bond Rate is 2%
Then your Bond Premium would be 2 percent of $10,000.00
OR
$200.00.
Minimum Premium.
If the total cost of the bond is less than $80.00. You still will be
Responsible for paying the minimum premium of $80.00.