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#1
08-21-2011, 12:52 AM
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Title by Indemnity Bond
Looking for advice/ information. I need to title my bike but have to do it by indemnity bond. Anyone done this before? The DMV is showing a value of $200 for my bike and its kind of scetchy how much the bond needs to be for. Its either 1.5 times the value, 1.5% of the value, or 1.5% higher than the value. that makes a big difference in the bond amount. 1st would be $300, 2nd $3 (minimum is $100, I know), and third is $203 (if my math is correct). I've called the DMV and the lady wasn't sure how much but was leaning toward the $300 bond. I guess you can't over-bond it so that might be the way to go. Anyone experienced with this? If so, any advice on which insurance company would be the best place to get the bond? Also, how much should it cost?
Thanks 
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