Alaska Auto Dealer Bond

Alaska Auto Dealer Bond

Auto dealers and motorcycle dealers must file a Motor Vehicle Dealer’s/Buyer’s Agent Surety Bond with the Alaska Division of Motor Vehicles as part of their licensing requirements. With Jet, your bond is ready in under three minutes!

Get started by clicking the button below or calling us at 855-296-2663.

QUOTE

Jet’s direct distribution model means you get access to monthly payment options, low annual and multi-year rates, and in-house claims handling.

What Is the Lowest Price for the Alaska Motor Vehicle Dealer Bond?

The $100,000 dealer license bond has a starting rate of $50 a month or $500 for one year. Motorcycle dealers can purchase their bond for as low as $13 a month or $125 annually.

Bond TypeBond LimitMonthly1 Year
Motor Vehicle Dealer$100,000$50$500
Motorcycle Dealer$25,000$13$125
Alaska Auto Dealer Bond Prices

Dealer bonds can be purchased in multi-year terms as well, if you know you’ll be in it for the long-haul and want to get a discounted rate. Monthly payments are a convenient alternative, as your bond remains active as long as payments are made and until cancellation is sought.

Buyer’s Agent is defined as someone who does business with a vehicle dealer on behalf of a vehicle purchaser.

Why Does the Alaska Division of Motor Vehicles Require Dealer Surety Bonds

The primary intent of the Motor Vehicle Dealer’s/Buyer’s Agent Surety Bond is to provide compensation in cases of dealer misconduct that leads to financial loss. The Division of Motor Vehicles is tasked with enforcing dealers to hold the surety bond along with ensuring dealers are in compliance with the regulations laid out in Alaska Statutes, Title 8, Chapter 66.

At Jet, we guarantee that funds are available when a claim is filed on a surety bond. Should a payout be made to the claimant (generally a member of the public or the Division), the motorcycle or vehicle dealer is responsible for paying the claim amount back to Jet to restore their bond to it’s full limit. 

It’s important to note that the bond is only utilized in cases where the dealer is negligent or fraudulent and either fails or refuses to address the issue; this makes surety bonds different from liability insurance which covers the holder and doesn’t need to be paid back.

Reasons the bond would pay out include:

The Surety Bond Process With Jet

The first step to getting your Motor Vehicle Dealer Bond is filling out the application. Your company name on the bond form must read exactly as it does on the license application form, including your entity name and DBA name.

QUOTE

Once all necessary information is input, a quote will be shown on the screen. From there, you can select your preferred payment method and put in your credit card information. The bond form and receipt will be available to download for your records.

Jet makes sure your bond form is done appropriately according to the Alaska Division of Motor Vehicles standards. This means you will receive the original signed bond form with a notary seal included.

All bonds must be submitted to the Division at the following address:

Alaska Division of Motor Vehicles, ATTN: Vehicle Services
3901 Old Seward Hwy, Ste 101
Anchorage, AK 99503

Read More About Dealer Bond Claims and Bond Handling With Jet

How to Renew My Bond

See the in and outs surrounding renewing with Jet—it’s quick.

How to Cancel My Bond

Looking to cancel? This article has all the details you need.

Bond Claim Process

Read more about claim causes and the claim process for dealers.

Alaska Motor Vehicle Dealer’s/Buyer’s Agent Surety Bond Form Example

Alaska Auto Dealer Bond Form

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: