Oregon Commercial Driving School Bond
Commercial driving schools are obligated to carry a $2,500 bond as part of their certificate requirements set by the Oregon Department of Transportation. The Commercial Driving School Bond serves to uphold the integrity of commercial driving schools and protect those financially damaged by fraudulent acts of a school. Finding the lowest price for your required Commercial Driving School Bond is easy when you choose Jet Insurance Company.
You can find the lowest price for your bond and an option for monthly payments, exclusive to Jet Insurance Company.
How Much Does a Commercial Driving School Bond Cost?
Jet offers the lowest price in the market for Commercial Driving School Bonds - $100 per year or monthly payments of only $10. We cut out the middleman, saving you from broker fees and commission-based rates that other companies use to drive up the cost of the bond. Jet guarantees one low annual price for your bond with no hidden taxes and fees or a monthly option that will keep your bond in effect as long as you need.
| TERM | COST |
|---|---|
| Monthly | $10 |
| 1 Year | $100 |
| 2 Years | $175 |
| 3 Years | $250 |
Will Jet File the Commercial Driving School Bond to the DMV for Me?
Yes! When you choose Jet for your bond, accurately filling out the application is all that is required of you. Jet will take care of sending the completed bond to the DMV, unlike other carriers that require you to forward the mail they send to you needlessly.
If you choose to have the original bond sent to you for filing with initial or renewal DMV application, Jet can do that. Once you are ready to submit all paperwork, you can mail it to:
Oregon DMV
Third Party Programs/CDTS
1905 Lana Ave
Salem, OR 97314
Who Needs the Commercial Driving School Bond?
Any business which teaches or trains individuals to drive a motor vehicle needs to obtain a Commercial Driving School Certificate, which calls for a Commercial Driving School Bond as one of the requirements to be certified. The school can be focused on practical behind-the-wheel training, a classroom setting, or a combination of the two.
There are a few exceptions that would not require the certification or bond. Primarily specialized schools teaching for a specific profession or an accredited school do not to be certified by the DMV. If you feel that the exception applies to you, contact the DMV to be certain - running a driving school without a certificate is a Class A misdemeanor.
Purpose of a Commercial Driving School Bond
This bond is used as a way to ensure that driving schools operators follow the responsibilities laid out for them in OAR 735-160-0015. If driving school owners mislead their customers or operate the school without a valid certificate, it can lead to damages to their customers. The bond would protect the customer in these cases, repaying what is owed.
Does the Commercial Driving School Bond Need To Be Renewed?
Yes, the bond does need to be renewed at the end of each bond term! The Commercial Driving School Bond must be in effect during the entire time you are certified. Your bond may be purchased for 1 year or for multiple year terms. If your bond is cancelled or expires during the course of your certification, it will put your certificate in jeopardy.
Monthly payments make renewals even easier. You can keep your bond going as long as you need it, making sure that payments are continually met. Each payment that Jet receives will keep your bond in effect for the next month.
Does Jet Allow Bond Cancellations?
Of course! With Jet, you don’t have to worry about cancelling your bond. Jet will put an end to your bond and calculate how much premium is owed to you for the rest of the bond term. We believe in returning the largest amount of money back into your hands, so we don’t factor cancellation/reinstatement fees or broker fees into the return - other companies do.
How To Avoid Claims on Your Commecial Driving School Bond
Claims come as a result of failing to uphold the provisions of the bond. For the Commercial Driving School Bond, the owners must avoid misrepresentation and fraud, as well as following the statutes, specified in ORS 822.515 and Oregon Administrative Rules (OAR) 735-160-0015. Essentially, these statutes make sure that you maintain a valid certificate while running your driving school, uphold your bond and insurance requirements, and pay the fees required for certification.
For example, a claim can come from a customer that made payment while the driving school certificate was not active. This customer cannot receive the proof of training by an authorized school and will need to be reimbursed. If the customer files a claim against the bond, Jet will investigate the situation. Usually by 45 days after the investigation is started, Jet will be able to resolve the claim, finding whether the claim is valid or not. A valid claim will repay the claimant via the bond, and as the responsible party, the driving school owner would still be liable for paying Jet in the amount of the claim.
