Florida Motor Vehicle Dealer Bonds And What You Need to Know
By [ Rothschild

The state of Florida has specific regulations and requirements for auto dealer surety bonds which will be different from what other states do. Whether you are considering owning a dealership of any variety, or you currently do and need to ensure you stay in good standing and maintain your license, you can use this guide to learn more about Florida auto dealer bonds.

One of the key areas of difference between Florida and other states is that they break down their motor vehicle dealer licenses into a variety of classifications. As opposed to one overarching license, there’s a handful.

This includes independent dealers, abbreviated as VI, franchise dealers, VF, and several types of recreational dealers, RV and RU. VI dealers are licensed to sell used motor vehicles only, whereas VF dealers sells new vehicles from a manufacturer, and may also sell used vehicles, too. For recreational dealers, RU licenses can sell used recreational vehicles only, while RV dealers can sell both new and used recreational vehicles.

Beyond these, there are still other licenses, for example, wholesaler dealers, VW, and auctions, VA. There are also mobile home dealers and brokers, salvage licenses, and beyond.

Looking at all of types of Florida auto dealer bonds, one of the ways they’re differentiated is their annual expiration date. Used car dealerships with VI licenses have their bonds expire on April 30th, while franchise dealers with a VF license have their bonds expire on December 31st. Both types of licenses for recreational dealers expire on September 30th.

One factor which remains consistent is that the bonds are annually renewed, with one year terms. Further, in the state of Florida the bond must be for $25,000 as a minimum.

There may also be further requirements for your license though. For example, garage liability insurance is a requirement for certain types of dealer licenses. The application process itself will also have a range of other logistic and administrative requirements, not to mention fees too.

In all states, the regulations can be quite different, as this is a state by state matter, and there are no consistent federal mandates. That means even if you’ve been a car dealer in other states, you’ll still need to acclimate to your new locale and learn what’s mandated.

Clearly, there’s plenty to consider when it comes time to get your auto dealer bonds in Florida. Be sure to consult with a local professional who knows what needs to be done to get your bond, get your license, and keep everything in good standing, and who can also provide you with a great deal and attentive service.

John Rothschild is the owner of ACI Insurance Services, a leading provider of [ auto dealer bonds for more than 10 years. ACI is known for their customer service, their extensive experience and knowledge of the industry, and their affordable rates, and they’ll do everything they can to meet the needs of their clients.

They also provide additional services for car dealerships, such as providing affordable [ garage liability insurance. Visit USACommercialInsurance.com to receive a free quote or call 844.467.4878 to speak with a representative for assistance.

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Insurance commercials are everywhere, but are they really telling you the truth? Florida Motor Vehicle Dealer Bonds and other types of insurance commercials can be confusing. In this article, we’ll take a look at what they are and how they can help you.

Florida Motor Vehicle Dealer Bonds are a type of insurance that is required for any business that sells motor vehicles in the state of Florida. This bond is designed to protect the public from any fraudulent or unethical business practices by the dealer. The bond also ensures that the dealer will pay any obligations that may arise from the sale of a motor vehicle.

The most important thing to remember about Florida Motor Vehicle Dealer Bonds is that they are not the same as other types of insurance. They are not designed to cover any kind of damage or injury related to the sale of a motor vehicle. Instead, they are designed to protect the public from any fraudulent or unethical business practices by the dealer.

When it comes to insurance commercials, it’s important to remember that they are not always telling the truth. You should always do your own research to make sure that you are getting the best coverage for your needs.

When it comes to insurance tips, there are a few things you should keep in mind. First, make sure that you understand the terms and conditions of the policy you are considering. Second, make sure that you are getting the best coverage for your needs. Third, make sure that you are aware of any discounts or incentives that may be available.

Finally, make sure that you are aware of any restrictions that may be placed on the coverage you are considering. Many insurance companies will place restrictions on the types of vehicles that can be covered and the amount of coverage that can be provided. It’s important to understand these restrictions before signing up for any insurance policy.

Insurance commercials can be confusing, but they can also be beneficial. By understanding the different types of insurance available, you can make sure that you are getting the best coverage for your needs. Florida Motor Vehicle Dealer Bonds and other insurance commercials can help you make sure that you are getting the coverage you need.