Surety bail bondsman-The Surety bail bondsman is the world’s biggest bail bondman. There are people whose businesses do not have their own actual collateral to back up the bail bond they are publishing. The bail bondsman works with an insurance firm that simply provides the collateral for the bail bond instead of using real property. Surety bail bondsmen are really a form of insurance agent since an insurance firm is involved and must obtain a property and casualty insurance licence as such. Since these forms of bail bonds are simply a form of insurance, the “premium” or rate (10%) is fixed in stone and cannot be adjusted by the bondman. This is the rate filed by the insurance provider with the insurance regulator and must therefore be adhered to. Checkout Connecticut Bail Bonds Group for more info.
This is why the first question that should be asked is “are you a security or property bail bondman?” while shopping around for a better deal.
Property bail bondsman- A property bail bonding agency, on the other hand, has pledged real estate as the collateral for the bonds they write and is thus not expected to obey any pricing at all. The only limiting factor in a property bail bondman ‘s price is benefit vs. risk. And danger is just everything.So, knowing now that you have to find a property bail bondman first, how do you get the best price?
We look at discounting as benefit vs risk, as mentioned previously as property bail bondsman. The way I can get my rate reduced is to take away the chance.How’re you doing that? When calculating risk, the most important thing for a property bail bondman is the co-signer. A bail bond is a three-party arrangement between the bail bondman, the defendant, and the bond co-signer (an person who agrees to be held civilly liable for the full amount of the bail should the defendant fail to appear at all their court dates), all of whom are parties to the contract. Simply put, find the right co-signer and you can start searching for prices in the range of 8%-4%. The larger the bail bond, the stronger the co-signer, the lower the amount, the bottom line.