FAQ

Some commonly asked questions from our customers. If you have any specific questions, please let us know.

Do I have to pay for an online quote?

No! You do not have to pay for the online Quote. It's completely free and the quoting process is fast and easy for anyone to understand. However, if you have questions or still need help, you can contact us by phone, email, or by using the CONTACT tab above.

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How much does a Surety Bond cost?

Rates depend on multiple factors, including Obligees’ risk preferences, Applicants’ credit ratings, and the type of bond required. For License and Permit Bonds, Applicants with strong personal credit usually pay annual premium between 1% and 3% of the total bond amount. Applicants with higher personal risk typically pay between 5% and 15%.

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How do I get a Bond with UFCIC?

Our process is simple - first you start with the Quote Process - once you accept our Quote, you proceed to create an account online and fill in some more information about your business, location, and other qualifying information. You may then proceed to make payment through our secure payment process. Once we receive your payment, we will provide you with the executed bond.

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Can I renew my Surety Bond?

Yes, however, once your Renewal Date is nearing the end of your Term, we will send you an email reminder that your bond will be expiring soon. Access your account online and proceed to make the Renewal Premium payment. The Renewal Premium may change depending on bond conditions. Once we review your Renewal Application, your renewed bond will be sent to you.

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What is surety bond

A written document (or the bond) where one party guarantees another party’s performance to a third party.

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What is an obligee

An Obligee is the party to whom a bond is given and the party that is protected from a loss (such as a State or Municipality).

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What is an indemnity agreement

A contract “in which the Bonded Principal or others” agree to reimburse the surety for all losses paid under the bond terms.

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How much does a surety bond cost

The cost of the bond varies, depending on the type of bond needed, the amount, business experience, your business financials, and/or your personal credit

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How do you know if you need a Surety Bond?

Certain occupations and jobs performed in, or for, local and state governments, require the Principal to be bonded before they can perform their services. An Obligee determines the bond amount, if one is required.

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What are Notary Bonds?

These bonds protect the State and Consumers from a Notary’s failure to fulfill their duties in accordance with the law.

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