The Nevada Department of Motor Vehicles allows qualified licensed motor vehicle dealers and emission inspection stations to register for the Vehicle Registration Program. A requirement of the application process for the program is the filing of a $10,000 Vehicle Registration Program Bond.
Jet Insurance Company provides the Vehicle Registration Program Bond as a form of protection for the Department of Motor Vehicles and Nevada’s people. In cases where a registered auto dealer or emission station commits a program violation such as negligence or fraud, the surety bond acts as a financial guarantee for the damaged party.
Our pricing at Jet is only a small percentage of the surety bond’s limit and is based on the credit score of the applicant. For the $10,000 Vehicle Registration Program Bond, rates start as low as $100 annually or $10 monthly! Most applicants will be approved for this rate.
It is important to note that although the bond has a standard limit, the Nevada Department of Motor Vehicles (DMV) can choose to increase the required amount if they see it to be necessary (the increase will not exceed twice the amount of the original limit). With that in mind, the Jet team has created a price chart to illustrate this possibility and the preferred tier bond rates.
Our monthly plan is a great option for motor vehicle dealers and emission station business owners who are looking to offer vehicle registration services for the long haul. Jet’s monthly payment plan allows you to keep your bond active for as long as you’d like with no paperwork required to renew. Meaning, your registration status will remain secure and you won’t have to worry about a lapse in your bond coverage.
Jet has created a direct and efficient online bond application process. The application for the Nevada Vehicle Registration Program Bond will ask for general information such as your contact details, required bond limit, and social security number. Once all has been submitted, we will run a quick soft credit check which won’t affect your current score. A Jet underwriter will then send you over approved rates with monthly and annual options. All you need to do is choose your preferred plan and complete payment, and you will receive a copy of your bond form and receipt.
The Nevada Department of Motor Vehicles requires the original signed and sealed Vehicle Registration Program Bond to be filed with the Occupational and Business Licensing office. The surety bond must be maintained for as long as you wish your business to remain registered with the program.
To make the process easy, Jet offers all of our customers free bond filing services! However, if you would like to file your bond yourself, this option can be selected at checkout. All documentation should be sent to the address listed below.
Nevada Department of Motor Vehicles
Occupational & Business Licensing
555 Wright Way
Carson City, NV 89711
As for business owners looking to initially apply for or renew their program registration, the required forms and further details regarding the process can be found on the “Occupational and Business Licensing” webpage.
Speaking of renewals, you won’t have to worry about renewing your bond if you are a part of Jet’s monthly payment plan! Your bond will remain active as long as payments are fulfilled and until cancellation is officially requested. As for those who choose our annual payment option, we will send you a renewal invoice far before your bond term expiration date hits. Just complete standard payment and you’ll be all set for another year with Jet.
If you ever need to cancel your surety bond with Jet, you may do so at any time! You can send us a written cancellation request via mail, or to our email at [email protected]. We will instantly notify the DMV of your bond’s termination. Once received, the Department will release you and Jet from the bond’s liability within 30 days.
Jet is required to charge our monthly bondholders one last payment during the 30-day liability period as your bond is still active. Your monthly payments will immediately conclude once this last step has been completed.
If you ever need to update your bond limit or simply just have a question about your Vehicle Registration Program Bond, feel free to contact us at the email address above or call us at 855-296-2663 and we can help you out!
Licensed vehicle dealers and emission stations (this includes authorized stations and authorized inspection stations) that are registered as participants in the Vehicle Registration Program are expected by the Nevada Department of Motor Vehicles to abide by an extensive amount of regulations. This includes Chapters 482.670 and 482.700 of the Nevada Administrative Codes, as well as Chapter 482 of the Nevada Revised Statutes. A violation of the listed statutes above may lead to a license suspension or revocation. Large fines, misdemeanor charges, civil action, and a claim on your bond are also possible penalties.
Program violations stem from acts of negligence, usually regarding reporting of new or renewed registered vehicles, or acts of fraud committed by employees and/or the owner of the business. For example, charging a consumer more for their registration than is permitted and pocketing the difference is a program violation and is defined as fraudulent activity. If unresolvable financial damages are caused, a claim can be filed on your Vehicle Registration Program Bond by the DMV Director, or a damaged consumer may take civil action against you and this could result in a bond claim. The surety bond may be tapped to cover losses faced by the claimant, as well as the cost of the damaged party’s attorney fees.
If you have been notified of a claim on your Vehicle Registration Program Bond, immediately contact Jet with all available details and documentation regarding the accused violation. The Jet team will utilize this information for our own investigation of the claim, whether it has been made by the Director of the Department of Motor Vehicles or a Nevada State court.
As for claims that are found to be valid, Jet is legally obligated per the surety bond form to make payment up to the bond’s limit. As the auto dealer or emission station business owner, you will ultimately be held responsible for your own actions and the actions of your employees, and therefore must reimburse Jet for the claim payout made on behalf of your business. Failure to fulfill such obligations will lead to future difficulties in obtaining bonds within the State of Nevada.
Yes, if you are looking to obtain your business license with the Nevada Department of Motor Vehicles as an auto dealer, you will need to obtain an Auto Dealer Bond (Vehicle Industry License Bond). The same goes for emission station business owners who must hold an Emissions Inspection Station Bond.