What is the purpose of a New York Defective Title Bond?
The New York Defective Title Bond is required by the New York Department of Motor Vehicles. The surety bond is required to protect department in any occasion that someone who has the vehicle’s title claims ownership of the vehicle. When the title of a vehicle is damaged or cannot be produced, a surety bond is sometimes necessary. The required bond amount is equal to 1.5 times the value of the vehicle as determined by the Commissioner. The premium on this bond is usually as low as 1.5%.
What is the process for getting a New York Defective Title Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once the paperwork is completed, the premium has been paid and processed. The bond will be issued and sent out in a timely manner. We offer shipping via USPS Priority Mail or your preferred expedited shipping method(for an additional cost).
The surety bond experts at Surety Solutions Insurance Services, Inc. (Surety1), are available to help you. The process has never been easier with Surety1, we work with over a dozen “A” rated surety markets. This ensures that we will find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.