Michigan requires bonds for residential builders, maintenance and alteration contractors, and various trade licenses through LARA. SuretyBond Simple makes it fast and easy to get bonded in Michigan — with competitive rates, same-day approvals, and no hidden fees.
Common Michigan Surety Bonds
Here are the most frequently required surety bonds in Michigan:
Contractor License Bond
Required for licensed contractors in Michigan through the Michigan Dept. of Licensing & Regulatory Affairs (LARA).
Motor Vehicle Dealer Bond
Required by the Michigan SOS for all licensed motor vehicle dealers in Michigan.
Notary Bond
Required by the MI Secretary of State for all notaries public in Michigan.
Freight Broker Bond (BMC-84)
Federally required by the FMCSA for all licensed freight brokers operating in Michigan and nationwide.
Mortgage Broker Bond
Required for licensed mortgage brokers and loan originators operating in Michigan.
License & Permit Bond
Various Michigan business licenses and permits require a surety bond as part of the licensing process.
Michigan Bond Requirements at a Glance
| Bond Type | Bond Amount | Issuing Agency | Term |
|---|---|---|---|
| Contractor License Bond | $10,000–$25,000 | Michigan Dept. of Licensing & Regulatory Affairs (LARA) | Annual |
| Motor Vehicle Dealer Bond | $25,000–$50,000 | Michigan SOS | Annual |
| Notary Bond | $10,000 | MI Secretary of State | Multi-Year |
| Freight Broker Bond (BMC-84) | $75,000 | FMCSA (Federal) | Annual |
| Mortgage Broker Bond | $25,000–$75,000 | Michigan Dept. of Financial Regulation | Annual |
How Much Does a Michigan Surety Bond Cost?
You never pay the full bond amount — you pay a small annual premium, typically 1%–15% of the bond amount. Your rate depends primarily on your credit score:
| Credit Score | Typical Rate | $25,000 Bond | $50,000 Bond |
|---|---|---|---|
| 750+ (Excellent) | 0.5%–2% | $125–$500/yr | $250–$1,000/yr |
| 700–749 (Good) | 1%–3% | $250–$750/yr | $500–$1,500/yr |
| 650–699 (Fair) | 2%–5% | $500–$1,250/yr | $1,000–$2,500/yr |
| 600–649 (Average) | 4%–8% | $1,000–$2,000/yr | $2,000–$4,000/yr |
| Below 600 (Poor) | 7%–15% | $1,750–$3,750/yr | $3,500–$7,500/yr |
Use our Bond Cost Calculator for a personalized estimate.
How to Get a Surety Bond in Michigan
Identify Your Bond Requirement
Find out which bond you need, the required amount, and the issuing agency in Michigan.
Submit Your Application
Fill out our simple online form — takes less than 5 minutes. No hard credit pull required for most bonds.
Receive Your Quote
We shop across multiple A-rated carriers to find you the best rate. Most quotes are delivered same day.
Get Your Bond Certificate
Once approved, we issue your bond certificate digitally so you can complete your Michigan license application.
Michigan Surety Bond FAQ
How much does a surety bond cost in Michigan?
Michigan surety bond premiums typically range from 1%–15% of the bond amount, based on your credit score and bond type. Applicants with good credit (700+) generally qualify for rates of 1%–3%.
Can I get a Michigan surety bond with bad credit?
Yes. Surety programs are available for all credit levels. You'll pay a higher premium (7%–15%), but bonds are available to almost everyone.
How fast can I get bonded in Michigan?
Most standard Michigan surety bonds can be issued same day. Submit your application and receive your bond certificate within hours.
Do I need to renew my Michigan surety bond?
Most surety bonds in Michigan are annual and must be renewed each year to keep your license active. We'll notify you before your bond expires.
Will applying for a bond affect my credit score?
Most surety companies perform a soft credit pull, which does NOT affect your credit score. Hard inquiries are rare and only used for very large bonds.
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