surety bond
Insurance Agent’s Guide to Georgia Auto Dealer Insurance Requirements
What are the insurance requirements for Georgia auto dealers? Georgia used car dealers must submit an original $35,000 surety bond and proof of garage liability insurance (minimum of 50k/100k/25k or single limit of $125,000) with their license renewal every even year (2018, 2020, 2022,..) on March 31st. The surety bond must be effective for 2 …
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How to Explain the 4 Key Differences Between a Surety Bond and an Insurance Policy to Your Customers
How to Explain the 4 Key Differences Between a Surety Bond and an Insurance Policy to Your Customers Surety bonds are misunderstood. Most people assume they work like insurance policies because they involve payments when things don’t go as planned. But surety bonds and insurance policies are actually very different animals. When you find yourself …