At Surety Bonds Agent, we offer a full range of surety bonds nationwide through an extended carrier network. Continue below to learn more about Colorado bonded titles. If you have additional questions or want to explore bonding solutions for your business, speak with one of our knowledgeable surety bond experts.
It’s easy with our simple 3-step process:
Bonded titles are the solution for people who lack a standard title for a vehicle they have in their possession. The only difference between a bonded title and a standard title is that the former bears the “BONDED” brand. You can do anything with a bonded title that a standard title would allow you to do.
Who Needs Them?
The most common reasons people give for needing a bonded title are:
How Do They Work?
There is a third party to a Colorado title bond in addition to the obligee and the principal. The bond’s guarantor is referred to as the “surety.” The surety will determine the legitimacy of any claim filed against the bond by an injured party.
Although the principal is legally obligated to pay all valid claims against their bond, the surety has guaranteed that payment and therefore typically pays a valid claim initially, to be reimbursed by the principal. The surety has a right to take legal action against the principal to recover the claim amount (plus court costs and legal fees) if the debt created by paying a claim on the principal’s behalf is not repaid.
In Colorado, bonded titles are issued by the Department of Revenue’s Division of Motor Vehicles. To apply for a bonded title, you will need to:
A Colorado title bond is your guarantee that you are the true owner of the vehicle for which you need a bonded title. It also guarantees that you (as the bond’s “principal”) will pay damages to any party that can prove their ownership of or lien against the vehicle during the three years that the bond is in force. Additionally, the bond indemnifies the Department of Revenue (known as the bond’s “obligee”) against responsibility for any damages resulting from having issued you a bonded title—damages incurred by the vehicle’s rightful owner or a lienholder and by anyone you may have sold the vehicle to after obtaining a bonded title.
Colorado title bonds for $6,000 or less typically are sold for a flat premium as low as $100. That cost increases incrementally, generally by $10 for every additional $1,000 of coverage up to a bond amount of $25,000. Bonds for more than $25,000 go through an underwriting process that is based largely on the principal’s personal credit score. That’s the generally accepted measure of the risk the surety will be assuming in paying claims on behalf of the principal. The higher the principal’s credit score, the lower the risk to the surety, and vice versa. The lower the risk, the lower the premium rate. The average premium rate is between one and three percent, but someone with lesser credit may be assigned a higher rate.
We proudly serve all 50 states, offering a full range of surety bonds. To buy surety bonds online:
There’s no obligation, and we can often help you get bonded in 24 hours or less.
Select the bond you need — commercial, contract, or any specialized bond. We help you find exactly what is required in your state.
Complete a short online form. It only takes a few minutes, with no extra paperwork or long verification steps.
Get fast approval and receive your bond instantly by email. Your document is ready to use right away.
Simply fill out our convenient online application form to get started.
We work with a wide range of carriers to provide many options to our clients.
As an independent agency, we can leverage our carrier network to find the most competitive rates for the bonds you need.
We work to get you bonded as quickly as possible, often in 24 hours or less.
Our experienced surety bond agents provide personalized assistance to help you understand your bonding requirements and options.
Request an online quote today! Or speak with one of our knowledgeable surety bond agents about the commercial bonds you are interested in.
