Texas Insurance Agency


Home Page Empower Insurance Customer Service Make A Payment About Us Contact Us English Spanish Contact Us
Texas Insurance Agency

piggy bankThinking of opening a car dealership in the great state of Texas? You’re in luck because Texas is ranked as one of the top five states for going into the car dealership business. However, the industry is strictly regulated and dealerships (with the exception of franchises) must purchase a motor vehicle dealer bond to meet state requirements.

A motor vehicle dealer bond, also known as an auto dealer bond, is a type of license surety bond that represents an agreement between the dealership, the Texas Department of Transportation and the surety company. Essentially, the bond guarantees the DOT that the dealer will follow all laws and regulations in business operations. This bond also protects customers from the potential of fraud. If the dealer breaches this agreement, the surety company becomes responsible for compensating the appropriate party.

When applying for a motor vehicle dealer bond, you will have to provide the surety company with information like the size and location of your dealership and financial statements, along with consent to a background check and credit score evaluation. The company will use the collected information to determine the likelihood of your dealership filing a claim.

With a good credit score, your dealership may only pay one to three percent of the total fixed price of the bond, while a dealership with a poor credit score may pay closer to 15 percent. Your independent insurance agent can give you a more accurate, customized quote with one phone call.

Protect your dealership today. Call Texas Insurance Agency at (954) 345-2600 for more information on Houston surety bonds.
Posted 5:27 PM

Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive

View Mobile Version
Texas Insurance Agency View Our Latest Insurance News
"Thanks to TIA, our insurance costs have gone down significantly."
Texas Insurance Agency
Texas Insurance Agency
About Us
Get A Quote
Customer Service
Make a Payment
Read Our blog
Contact Us
Auto Insurance
Home Insurance
Renters Insurance
Motorcycle & Boat
Business Insurance
General Liability
Mexico Insurance
More Insurance Types...
Mailing Address
TIA -Texas Insurance Agency
6906 Airline Dr
Houston, TX 77076
Contact Us

Chat Online Now
AMCO/Texas Insurance Agency BBB Business Review
Texas Insurance agency
Employment Opportunities My Policy Location Facebook Twitter Blog RSS Feed Insurance Website Builder Home Page Linkedin Facebook Twitter Blog RSS Feed Google+ LinkedIn Referral Program No License Auto Title Transfer Young Drivers Roadside Assistance