Surety bail bondsmen make up the vast majority of bail bond agents around the world. There are some people whose companies lack the financial resources to back up the bail bonds they issue. Instead of using real estate, the bail bondsman works with an insurance broker to provide collateral for the bail bond. Surety bail bondsmen are essentially insurance agents, and as such, they must have a certificate of property and casualty insurance. The “premium” or rate (the 10% ) is set and cannot be adjusted by the bondsman since these forms of bail bonds are simply insurance. This is the figure that the insurance company submitted to the Insurance Commissioner, and it must be adhered to. This is why, when looking for a good deal, the first question to ask is, “Are you a Surety or Property bail bondsman?” Visit us on Connecticut Bail Bonds Group.
Bail bonding is one of the most misunderstood legal fields in the United States. On a daily basis, lawyers, clerks, and even magistrates who work in the criminal justice system are unable to have even the clearest understanding of the bail bond process. Add to that the fact that most people who need the services of a bail bondsman (or at least think they do) are also befuddled by the stress of having a loved one incarcerated. Bail bondsmen, without a doubt, have a competitive advantage when it comes to negotiating the terms of their company, if there is any negotiating at all.
So, how can someone who has no idea what this mysterious occupation entails ensure that they aren’t overpaying? Let me start by emphasising that the aim of this article is to include only enough details about bail bonds so that the reader can get the best deal possible. I’m not going to go through every detail of the bail bonding process because knowing everything isn’t enough to get the best deal. In addition, we are discussing the use of large bail bonds.