You have probably heard of vehicle titles, but you might have never heard of a bonded title before. If you think that you might need to get a bonded title for your car, these are some of the things that you will probably want to know.
It's Ideal if You Don't Have the Title
Bonded titles exist as an option for those who aren't able to provide proof that their vehicle actually belongs to them. Most of the time, this refers to someone who does not have their vehicle title. You might have misplaced your title at some point or another, and you might be struggling to produce the necessary documentation to order another one. If you are dealing with this type of situation right now, then a bonded title might be right for you.
You'll Have to Work With an Insurance Company
When you purchase a bonded title, you have to work with an insurance company that will grant you the bond. Different insurance companies offer this option, so check with your car insurance company or another insurance company that you trust to find out if they offer bonded titles. If not, you should be able to find an insurance company that offers bonded titles online.
You'll Need to Follow Your State's Laws and Requirements
Bonded titles are an option in most places, but different states have different laws. Your state might have requirements about the value that your bond must be, or they might have regulations about when you can and can't get and use a bonded title. The insurance company that you work with should be familiar with these requirements if they are licensed to sell insurance in your state, but it's still not a bad idea to do your own research to make sure that you are doing everything in compliance with the applicable laws when securing a bonded title.
You Should Be Able to Do What You Want With the Car
You might be worried about getting a bonded title for your car since you might be worried that you aren't going to be able to use it. However, once you have a bonded title, you should be able to do pretty much anything that you want to do with the vehicle. Typically, with a bonded title, you can register the vehicle, purchase insurance for it, drive it, and even sell it. Therefore, you shouldn't have too many restrictions that you have to worry about.