To become a notary in many states, you must have a Notary Bond, also known as a Notary Public Bond. The full amount of this bond varies ($500 - $50,000) depending on your state of operation. However, the cost to get bonded is much lower, typically $35 - $55 for a 3 - 5-year term.
The purpose of this bond is to protect the public if the notary acts unlawfully or unethically, causing financial harm.
Read on to learn more about how much a notary bond costs, notary bond renewal, how to save money on your surety bond, and more.
How Much Does a $5000 Notary Bond Cost?
Bond requirements vary by state, but to give you an idea of how much you will pay for your bond premium, a $5,000 Notary Bond generally costs $35 - $55 annually (including possible processing fees). You do not pay the full $5,000 bond amount. Instead, you pay a small flat rate to get bonded.
Bonds in this range usually do not require a credit check. Therefore, you should not expect this price to vary much.
Average Costs of Notary Bonds by State
Most Notary Bonds cost $35 - $55 annually for a 3 - 5-year term. The cost of this bond depends on the state you operate in. Note that a $100 processing fee may also be included.
To determine how much your Notary Bond will cost, get a free instant bond quote or check out the state chart below.
|
Type of Notary Bond |
Bond Amount Required |
Bond Cost (1 Year) |
|
$50,000 |
$45 |
|
|
$2,500 |
$35 |
|
|
$5,000 |
$35 |
|
|
$7,500 |
$35 |
|
|
$15,000 |
$40 |
|
|
$2,000 |
$35 |
|
|
$7,500 or $25,000 (remote filings) |
$35 - $45 |
|
|
$1,000 |
$35 |
|
|
$10,000 |
$40 |
|
|
$5,000 |
$35 |
|
|
$25,000 |
$45 |
|
|
$12,000 |
$40 |
|
|
$1,000 |
$35 |
|
|
$10,000 |
$40 |
|
|
$10,000 |
$40 |
|
|
$5,000 |
$35 |
|
|
$10,000 |
$40 |
|
|
$25,000 |
$45 |
|
|
$15,000 |
$40 |
|
|
$10,000 |
$40 |
|
|
$10,000 |
$40 |
|
|
$7,500 |
$35 |
|
|
$1,000 |
$35 |
|
|
$10,000 |
$40 |
|
|
$5,000 |
$35 |
|
|
$10,000 |
$40 |
|
|
$10,000 |
$40 |
|
|
$5,000 |
$35 |
|
|
$5,000 |
$35 |
|
|
$10,000 |
$40 |
|
|
$500 |
$35 |
Bond amounts and requirements are always subject to change as legislation gets updated. For the most recent info, visit The American Society of Notaries or the National Notary Association.
Factors that Influence Notary Bond Costs
1. State of Commission
The state that gives you your notary commission (the state you operate in) is the one that sets your required bond amount. Some states don’t have a bond requirement, but most demand a bond in an amount that ranges from $500 - $50,000.
Typically, the higher the bond amount, the more your bond will cost.
2. Processing Fee
When getting a Notary Bond, it isn’t unusual to be charged a processing fee. If you are subject to this, you can expect to pay approximately $100 on top of your $35 - $55 bonding cost.
3. Credit Score
The cost of most surety bonds is heavily influenced by an applicant’s credit score. The better your score, the lower your bond cost.
Notary Bonds are unique in that most sureties won’t run a soft credit check—instead, they offer a flat rate. However, a credit check may be required for Notary Bonds in larger amounts, namely the $50,000 Alabama Notary Bond.
We recently got a call from Darlene. A couple sureties previously rejected her due to her low credit score. She heard about our bad credit bonding program and reached out to see if we could approve her for an Alabama Notary Bond. Not only were we able to get her bonded, but we did so in under 24 hours.
What Are the Renewal Costs for an Expired Notary Bond?
The cost to renew an expired Notary Bond is often the same as when you first purchase it. Reasons that your bond premium would change include:
- Getting a claim made against your bond. In this case, your bond cost may increase if the claim is valid.
- Having bond price based on a credit check. If your credit betters or worsens, your price may increase or decrease.
How to Save Money on Notary Bonds
1. Get Multiple Notary Bond Quotes
Many sureties now have online bond applications that make getting and comparing bond prices quick and easy.
Generally, large and established sureties, like JW Surety Bonds, offer the lowest prices in the bonding industry. This is namely due to the large volume of bonds we underwrite and our direct access to specialty bonding programs.
2. Bundle Your Bond with Insurance
Surety companies may offer a discount if you bundle your bond with your Error and Omissions Insurance. Other types of business insurance may also be valid for bundling.
3. Purchase a Multi-Year Bond
Often, a discount is available if you commit to your bond for multiple years. This can be a great way to lower your annual bond premium.
4. Look into Notary Organization Discounts
Some notary organizations offer exclusive bond discounts for members. We suggest checking to see if any association you are part of participates in this type of discount.
Conclusion
Notary Bonds are one of the most affordable surety bonds. They tend to be easy to get and cost a mere $35 - $55 for a 3 - 5-year term.
Get Your Free Notary Bond Quote Today.
Have bonding questions? Contact one of our surety experts over the phone or email.
What is a Notary Bond?. (n.d.). In JW Surety Bonds. Retrieved December 23, 2024, from https://www.jwsuretybonds.com/blog/what-is-notary-bond
State Notary Resources. (n.d.). In National Notary Association. Retrieved December 23, 2024, from https://www.nationalnotary.org/knowledge-center/state-notary-resources
State Notary Information. (n.d.). In www.asnnotary.org. Retrieved December 23, 2024, from https://www.asnnotary.org/?form=stateinfo
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