Alaska Motor Vehicle Dealer Bond
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What is the cost of an Alaska motor vehicle dealer bond?
Alaska motor vehicle dealer bond costs vary depending on which auto dealer license type you need. Your exact premium will be provided after a quick application review. Apply now to get your free personal quote!
- Annual premiums for the $25,000 Motorcycle Dealer Bond start at $250.
- Annual premiums for the $100,000 Motor Vehicle Dealer Bond start at $1,000.
Multi-year discounts are also available for qualified applicants who would like to extend their bond term.
How do I get an auto dealer bond in Alaska?
You can apply for your Alaska auto dealer bond online 24/7. Simply select which dealer license type you need and provide the following information for Division of Motor Vehicles approval.
- name of dealership or buyer's agent
- dealership mailing address
- email address
Once your order has been processed, we'll email you a digital bond copy, and we'll ship your official vehicle dealer bond to your preferred mailing address.
How fast can I get a vehicle dealer bond?
Our industry-leading technology and responsive customer service team allow us to offer free quotes and deliver your official Alaska vehicle dealer bond faster than any other surety bond company. The DMV requires your official surety bond be physically issued and shipped to you, so choose overnight shipping during checkout if you're in a rush. Orders placed by 4 PM CST Monday-Friday are typically shipped same-day with a digital bond copy sent to your email.
If you have questions about the Alaska auto dealer bond or your application, call 1 (800) 308-4358 to speak with a friendly surety expert. We're here to guide you through the auto dealer bond process so you can get back to running your business.
What is the purpose of the Alaska auto dealer bond?
Alaska Statute 08.66.060 requires individuals licensed as a dealer of motor vehicles, motorcycles, or a buyer's agent to file a surety bond to protect consumers in the state. Motor vehicle dealers must file a $100,000 bond amount while motorcycle-only dealers must file a $25,000 bond amount. The form is officially titled the “Motor Vehicle Dealer's/Buyer's Agent Surety Bond.” These bonds specifically protect any person who suffers losses or damages resulting from an Alaska motor vehicle dealer who commits fraud or violates any other provisions of Alaska Statute 08.66.
Why do you need an Alaska motor vehicle dealer bond?
You must file and maintain this bond to fulfill the state's auto dealer license application requirements. By filing this bond you agree to operate your dealership according to Alaska statutes. If you fail to do so, the issuing surety company will pay valid claims to harmed individuals up to the full bond amount, which you must then reimburse.
This Alaska surety bond is required for motor vehicle dealer licensing. If you're trying to register a vehicle with a missing title, you need a separate Alaska vehicle title bond.
Who regulates licensing for vehicle dealers?
The Alaska Department of Administration Division of Motor Vehicles enforces regulations for the state's motor vehicle dealer license applicants. The DMV advises dealers submit their original, physical surety bond documentation to the Anchorage DMV office.
Anchorage DMV
ATTN: Vehicle Services
3901 Old Seward Hwy
Ste 101
Anchorage, AK 99503
What is the Alaska dealer license bond amount?
Effective September 1, 2021, House Bill 36 increased the Alaska auto dealer bond amount to $100,000. The DMV previously enforced a $50,000 required bond amount before the 2021 increase.
How do I update or change my bond form?
If the Division of Motor Vehicles requires you to update your documentation for any reason, contact your surety provider. If you purchased your auto dealer bond from SuretyBonds.com, email [email protected] to explain the needed change.
The most common changes for this bond include:
- name of dealership or buyer's agent
- dealership mailing address
How do I renew my auto dealer bond?
You should renew your Alaska motor vehicle dealer bond before its current 1-year term expires. Renewal instructions to keep your car dealer bond active for the next license term will be emailed to you once you pay your SuretyBonds.com renewal invoice.
How do dealers apply for a motor vehicle dealer license in Alaska?
To register as an auto dealer or buyer's agent in Alaska, applicants must submit the following to the Anchorage DMV Vehicle Services Department.
- Application for Dealer License (Form DLR-001)
- Original notarized surety bond in the correct required bond amount signed by an owner, partner, corporate officer, or member as "Principal"
- Photos of each owner, partner, corporate officer, or member, as well as the dealership location
- Business License
- Proof of liability insurance and worker's compensation insurance
- $50 registration fee
- Application for Dealer Plates (if applicable)
Every 2 years, the state will provide a license renewal letter and appropriate enclosures for the next 2-year period. This renewal letter is a courtesy; a dealer's or buyer's agent's timely renewal should not be based upon receipt of this letter.
How can Alaska auto dealers avoid bond claims?
To avoid claims against your surety bond, you should adhere to Alaska statutes when operating your dealership. If a claim is filed on your Alaska surety bond, the surety company will investigate the claim to determine its validity. If the claim is valid, you will be required to reimburse the surety company for damages paid to claimants.
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
