Missouri Title Bonds
Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all your Missouri title bond needs.
What Are They?
In Missouri, as in other states, you cannot register, sell, or otherwise transfer ownership of a motor vehicle without a valid title certificate. So, what do you do if you don’t have one? Your only option is to obtain a bonded title, which is a vehicle title backed by a Missouri title bond (also known as a certificate of title bond, lost title bond, or defective title bond). You cannot get a bonded title in Missouri without first purchasing a Missouri title bond.
A Missouri title bond is a surety bond that serves these important purposes in addition to allowing you to obtain a bonded title:
- It indemnifies the Missouri Motor Vehicles Bureau against legal liability if it turns out that you should not have been issued a bonded title.
- It provides a way to compensate the rightful owner, should one surface while the bond is in effect, for a financial loss caused by you claiming the vehicle as your own.
Bonded titles are only issued for vehicles that are at least seven years old and appraised at $3,000 or less.
Who Needs Them?
If you need a bonded title from the Missouri Motor Vehicles Bureau and the vehicle in question meets the eligibility criteria for vehicle age and value, you need a Missouri title bond. Most often, a bonded title is needed because:
- No title was provided by the seller when the vehicle was purchased.
- The title provided by the seller was altered, improperly assigned, damaged, or otherwise rendered invalid.
- The seller provided a title, but it was lost or stolen before the new owner could register the vehicle.
A Missouri title bond must have a three-year term and be in an amount that is twice the vehicle’s appraised value based on Kelly Blue Book, NADA Guide, or appraisals from two different licensed motor vehicle dealers.
Speak with a Surety Bond Professionals agent today to discuss your bonding needs.
How Do They Work?
During the three-year term of your Missouri title bond, a previous owner or lienholder could surface and be able to prove that you should not have been issued a bonded title because you are not the vehicle’s rightful owner. If that happens, and the vehicle was sold, damaged, or lost value while in your possession, that party can file a claim against your bond and be compensated for their financial loss.
If the surety bond company finds that the claim is valid and is unable to negotiate an amicable settlement, they will go ahead and pay the claim, up to the full amount of the bond, which is capped at $6,000 (twice the maximum allowable vehicle value of $3,000). However, as the bond’s “principal,” you, not the surety bond company, bear full legal responsibility for paying claims. Therefore, you are legally obligated to reimburse the surety bond company in full.
If the bond expires at the end of three years with no claims, you can apply for a clear certificate of title.
What Do They Cost?
Missouri title bonds are sold for a small flat fee, usually no more than $100. No underwriting or credit approval is required.
Get a Quote
Our surety bond professionals will get you the Missouri title bond you need at a competitive rate.