Anyone who is appointed to serve as a conservator will be required to provide the probate court with a conservator bond. The amount of a conservator bond will vary depending on the state, the value of the assets under the conservator’s management, and other factors.
Conservator Bond
At Surety Bonds Agent, we offer a full range of surety bonds nationwide through an extended carrier network. Continue below to learn more about conservator bonds, also known as conservatorship bonds. If you have additional questions or want to explore bonding solutions for your business, speak with one of our knowledgeable surety bond experts.
Contact Us for a Free Conservator Bond Quote
It’s easy with our simple 3-step process:
- Apply Online
- Get Quote
- Receive Bond
who we work with
Our Insurance Company Partners Nationwide
about bond type
What Is a Conservator Bond?
A conservator (or conservatorship) bond is a type of court bond, specifically a type of probate bond. These are bonds that a probate court orders when appointing someone to serve in a fiduciary capacity to manage someone else’s assets (the conservatee).
The primary fiduciary responsibilities are to avoid conflicts of interest and always act in the best interest of the conservatee. Failing to live up to those responsibilities can result in financial harm to the conservatee. A conservator bond provides financial protection against such a loss, as well as a way for the injured party to recover damages.
Who Needs One?
How Does a Conservator Bond Work?
There are three parties to a conservator bond: the probate court ordering the bond (known as the bond’s “obligee), the conservator (the bond’s “principal”), and the party guaranteeing the bond (the “surety”). Each party has different rights and obligations:
- The obligee issues the court order for a bond and sets the required bond amount.
- The surety sets the annual premium rate the principal will pay for a conservator bond.
- The principal must abide by the legal requirements and standards that apply to fiduciaries.
- A violation by the principal that causes the conservatee financial harm gives the obligee the right to file a claim against the bond on behalf of the conservatee to recover monetary damages.
- The surety investigates any claim and determines whether it is valid.
- The principal is legally obligated to pay all valid claims against the bond.
- The surety, however, has guaranteed the payment of valid claims and typically pays the claimant directly, as an extension of credit to the principal.
- The legal obligation for claims still belongs to the principal, who must repay the resulting debt to the surety.
- The surety can take legal action against a principal that fails to reimburse the surety for claims paid on the principal’s behalf.
costs
How Much Does It Cost?
The annual premium for a conservator bond reflects the risk the surety takes on in agreeing to guarantee the bond. The surety’s underwriters assess the risk of a claim being incurred and the risk of not being repaid for a claim paid on the principal’s behalf.
The principal’s personal credit score plays a big part in setting the bond’s premium rate. Someone with a high credit score has a history of being financially responsible and is viewed as unlikely to violate the terms of the surety bond agreement. The low-risk level results in a low premium rate, typically in the range of 1% to 3%.
The reverse is also true. A person with lesser credit is perceived as a greater risk to the surety, which warrants a higher premium rate.
Typically, a principal with good credit will pay a premium rate in the range of 1% to 3%.
location search
Choose Bond by States
We proudly serve all 50 states, offering a full range of surety bonds. To buy surety bonds online:
- Choose your state
- Choose the bond type you need
- Apply online to request a free quote
There’s no obligation, and we can often help you get bonded in 24 hours or less.
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
District Of Columbia
West Virginia
Wisconsin
Wyoming
Ohio
step by step guide
How Do Conservator Bond Work?
-
Choose Your Bond Type
Select the bond you need — commercial, contract, or any specialized bond. We help you find exactly what is required in your state.
-
Submit a Quick Application
Complete a short online form. It only takes a few minutes, with no extra paperwork or long verification steps.
-
Get Approved & Receive Your Bond
Get fast approval and receive your bond instantly by email. Your document is ready to use right away.
main reasons
Why Work With Us?
Easy Application Process
Simply fill out our convenient online application form to get started.
Extensive Carrier Network
We work with a wide range of carriers to provide many options to our clients.
Competitive Rates
As an independent agency, we can leverage our carrier network to find the most competitive rates for the bonds you need.
Quick Turnarounds
We work to get you bonded as quickly as possible, often in 24 hours or less.
Exceptional Service
Our experienced surety bond agents provide personalized assistance to help you understand your bonding requirements and options.
Testimonials
What our customers say about us
Request a Quote
Request an online quote today! Or speak with one of our knowledgeable surety bond agents about the commercial bonds you are interested in.