West Virginia Auto Dealer Bond

West Virginia Auto Dealer Bond

A $25,000 surety bond is required for motor vehicle dealers and several other vehicle-related businesses in West Virginia. The bond must be filed with the West Virginia Division of Motor Vehicles, Dealer Services, as a guarantee that compensation is available should a dealer cause monetary harm to someone while doing business.

The Auto Dealer Bond is ready within minutes—get started:

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Jet’s direct distribution model eliminates middlemen, therefore ridding of fees while providing a quick process and low-cost Motor Vehicle Dealer Bond.

How Much Does a West Virginia Surety Bond Cost?

The price depends on a few factors: (1) the bond type, (2) your personal credit, and (3) your years of relevant experience. The cost of a $25,000 Motor Vehicle Dealer Bond starts at $175 for one year or $18 a month.

Bond TypeMonthlyAnnual
Motor Vehicle Dealer$18$175
Automobile Auction$18$175
Motor Vehicle Leasing$19$188
Wrecker/Dismantler/Rebuilder$15$150
West Virginia Dealer Bond Prices

The soft credit check is standard in the surety industry for Auto Dealer Bonds to assess risk with each applicant, but don’t worry, it won’t affect your credit score.

Motor Vehicle Dealer is inclusive of new, used, recreational, motorcycle, and trailer dealers. All license classifications listed in the chart below need a surety bond to operate.

License ClassesDescription
D - New & UsedSells 5+ new/used vehicles in a year
DUC - UsedSells 5+ used vehicles in a year
Drv - RecreationalSells new and/or used RVs
Dtr - TrailerSells new and/or used trailers
F - MotorcycleSells new and/or used motorcycles
Aa - Auto AuctionSells vehicles at auction
Wdr - WreckerDeals in wrecked/damaged vehicles or parts to later sell
DismantlerDeals in wrecked/damaged vehicles or parts to later sell
RebuilderRebuilds salvage vehicles to later sell
West Virginia Motor Vehicle License Classifications

West Virginia Dealer Licensing Requirements

To become a vehicle dealer in the state, you’ll need to do the following:

After the application is received, an inspector will collect fingerprints of all the owners/officers.

The license expires June 30th (6/30) each year. Additional license requirements can be found on the Dealers Licensing page.

What Purpose Do West Virginia Auto Dealer Bonds Serve?

West Virginia has statutes in place to protect its people from fraudulent and negligent motor vehicle dealer actions. The bond, provided by a third-party surety company (Jet), is just one of the regulations enforced by the West Virginia Division of Motor Vehicles for licensed motor vehicle businesses in the state. 

The surety company guarantees they will pay out restitution, up to the bond limit, to a harmed individual or entity in the event of a valid bond claim. Claims happen for several reasons, such as odometer tampering or failing to disclose important details about a vehicle. If a claim is paid out by the surety company, it is the responsibility of the licensee to restore the bond’s limit by paying the Surety back. 

It’s essential for dealers to understand the implication of their actions. Generally, licensees are given a chance, or several, to rectify situations before it leads to serious disciplinary action, including bond claims, license revocation, and fines. Legislation can be reviewed here:

Motor Vehicle Dealers, Distributors, Wholesalers - West Virginia Code, Article 6A, Chapter 17A
Automobile Auctions - West Virginia Code, Article 6C, Chapter 17A

Getting Your Surety Bond With Jet

Click the quote button to get started. The application will only ask for the information necessary to get you a quote and fill out the bond form.

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You will be given a quote right away, no waiting for underwriter approval! Choose between monthly payments or paying in full. After successful payment, you can download your bond form and receipt for your records. Then, the original bond must be filed with Dealer Services at the address below:

West Virginia Division of Motor Vehicles, Dealer Services
PO Box 17100
Charleston WV 25317

Jet will take care of filing for you, when applicable. If you want the bond form mailed to you for filing with other documentation, you can choose between standard or overnight delivery.

Along with the license, the bond is set to expire June 30th (6/30) annually. If you are paying monthly, your bond will stay active as long as payments continue to be made. If you paid for the bond in full at the time of purchase, Jet will send you a renewal reminder with plenty of time to make payment for the upcoming term.

Dealer Bond Claim Process 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.

West Virginia Motor Vehicle Dealer Bond Form Example

West Virginia 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: