If you’re opening a dealership or renewing your Maryland dealer license, you’ll likely need a Maryland Motor Vehicle Dealer Bond. At the Jack Hutchison Insurance Agency, we make the bonding process simple, so you can focus on running your business.
What Is a Maryland Motor Vehicle Dealer Bond?
A Maryland Motor Vehicle Dealer Bond is a surety bond required by the Maryland Motor Vehicle Administration (MVA) for licensed motor vehicle dealers. The bond helps protect consumers and the State by ensuring dealers comply with Maryland laws and regulations governing the sale of motor vehicles.
If a dealer fails to meet certain legal or financial obligations, the bond provides a way for eligible claims to be paid. The dealer is ultimately responsible for reimbursing the surety for any valid claims paid on their behalf.
Who Needs a Dealer Bond?
If you’re applying for or renewing a Maryland license as a motor vehicle dealer, you’ll generally be required to obtain the appropriate surety bond before your license can be issued or renewed.
Whether you’re starting your first dealership or have been in business for years, our team can help you obtain the bond you need quickly and efficiently.
Why Work With The Jack Hutchison Insurance Agency?
We understand that opening or operating a dealership involves enough paperwork already. Our goal is to make obtaining your bond as easy as possible.
When you work with us, you can expect:
- Friendly, knowledgeable service.
- A fast and straightforward bonding process.
- Competitive pricing through trusted surety companies.
- A local agency that’s here to answer your questions before, during, and after the process.
We Can Help Protect Your Entire Business
Your dealer bond is only one part of protecting your dealership. We can also help with insurance coverage for your business, including:
- Garage Liability Insurance
- Dealer Open Lot Coverage
- Commercial Property Insurance
- Commercial Auto Insurance
- Workers’ Compensation Insurance
- Cyber Liability Insurance
- Umbrella Liability Insurance
- Business Owners Policies (BOP)
As an independent insurance agency, we work with multiple insurance companies, allowing us to compare options and help you find coverage that fits your dealership’s needs and budget.