Certificate of Title Bonds
Place a certificate of title bond — a bonded or lost title bond — for clients who can't produce a vehicle title, through Baker's wholesale surety desk.
A certificate of title bond — also called a bonded title or lost title bond — is required by a state DMV when a vehicle owner cannot produce a valid title.
What it does
It guarantees the owner's rightful claim to the vehicle and stands behind that claim if someone else disputes it.
- ✓Lets the DMV issue a title when the paper title is missing or defective
- ✓Protects prior owners, lienholders, and the state from a false claim
- •Unlike fidelity coverage, this is a true three-party surety bond
Who needs it
Vehicle owners who bought a car without a title, lost the title, or received a faulty one, and now need a bonded title from the DMV.
- •The bond amount is usually a multiple of the vehicle's value
- •It typically stays in force for 3 to 5 years
How to place it through Baker
Send the state, the vehicle value, and the DMV's required bond amount if it is known.
- →Start a bond quote, or send the application link to your client
** Terms used here are a summary only. Always refer to the bond form and the obligee's requirements.