Lost Your Car Title? Here’s A Surety Bond Solution for You!

It’s a situation no one wants to find themselves in: you need to sell, gift, or otherwise transfer ownership of your car, and you can’t find the title. Whether it’s due to moving, accidental disposal, or some other unfortunate circumstance, losing your car title can create a host of problems. Fortunately, there’s a solution available: lost title bonds. What is a Lost Title Bond? A lost title bond, also known as a “certificate of lost title bond,” “defective title bond,” or simply “title bond,” is a type of surety bond. It serves as a legal guarantee that you are the legitimate owner of the vehicle and that the title you lost was genuine. Essentially, it protects any future buyers or the state DMV (Department of Motor Vehicles) from fraud or financial loss, should the lost title reappear and show a different owner. The Simplified Surety Bond Underwriting Process Obtaining a lost title bond is a relatively straightforward process. You’ll fill out an application, undergo a quick credit check, provide some financial information and if approved, pay a premium to get the bond issued. This premium is usually a percentage of the bond’s total amount and varies based on your creditworthiness and the value of the vehicle. Cost of Lost Title Bonds The cost of a lost title bond can vary widely, depending on several factors such as the state requirements, the value of the vehicle, and your credit score. Generally, you can expect to pay a premium that’s 1% to 5% of the bond amount, although this can be higher for applicants with poor credit. For example, if you need a $10,000 bond and have good credit, you might pay a premium of $100 to $500. Conclusion Losing your car title can be a stressful experience, but it’s not an insurmountable problem. Lost title bonds offer a straightforward solution that not only allows you to get a duplicate title from the DMV but also provides protection for future buyers and the state. While the process might seem daunting, it is generally quite straightforward, especially if you understand the basics of the surety bond underwriting process and costs. In the end, obtaining a lost title bond is often a necessary step to reclaim your vehicle’s legal standing. If you have any questions on lost title bonds or would like a surety professional to help manage and advise your bond program, contact any surety specialist of the Parrot Surety team today!

It’s a situation no one wants to find themselves in: you need to sell, gift, or otherwise transfer ownership of your car, and you can’t find the title. Whether it’s due to moving, accidental disposal, or some other unfortunate circumstance, losing your car title can create a host of problems. Fortunately, there’s a solution available: lost title bonds. What is a Lost Title Bond? A lost title bond, also known as a “certificate of lost title bond,” “defective title bond,” or simply “title bond,” is a type of surety bond. It serves as a legal guarantee that you are the legitimate owner of the vehicle and that the title you lost was genuine. Essentially, it protects any future buyers or the state DMV (Department of Motor Vehicles) from fraud or financial loss, should the lost title reappear and show a different owner. The Simplified Surety Bond Underwriting Process Obtaining a lost title bond is a relatively straightforward process. You’ll fill out an application, undergo a quick credit check, provide some financial information and if approved, pay a premium to get the bond issued. This premium is usually a percentage of the bond’s total amount and varies based on your creditworthiness and the value of the vehicle. Cost of Lost Title Bonds The cost of a lost title bond can vary widely, depending on several factors such as the state requirements, the value of the vehicle, and your credit score. Generally, you can expect to pay a premium that’s 1% to 5% of the bond amount, although this can be higher for applicants with poor credit. For example, if you need a $10,000 bond and have good credit, you might pay a premium of $100 to $500. Conclusion Losing your car title can be a stressful experience, but it’s not an insurmountable problem. Lost title bonds offer a straightforward solution that not only allows you to get a duplicate title from the DMV but also provides protection for future buyers and the state. While the process might seem daunting, it is generally quite straightforward, especially if you understand the basics of the surety bond underwriting process and costs. In the end, obtaining a lost title bond is often a necessary step to reclaim your vehicle’s legal standing. If you have any questions on lost title bonds or would like a surety professional to help manage and advise your bond program, contact any surety specialist of the Parrot Surety team today!