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What kind of Insurance or bond is required to apply for a dealer’s license?

April 26, 2017Bond Dealer Insurance license

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What kind of Insurance or bond is required to apply for a dealer’s license?

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Dealer’s insurance and bond are required to apply for a dealer’s license in Indiana. It is necessary to submit an SR-23 certificate of dealer’s insurance to the state, along with your application, and a $25,000 surety bond. We will refer you to a trusted insurance agency to take care of both. On average, your insurance can be anywhere from $1700 to $2000 per year and can be broken down into monthly payments. The surety bond can cost anywhere from $350 to $500 depending on a soft credit check, but we can work with anyone!