Bail Bond Premium
Bail Bond Premium
The bail bond premium is the cost to post a bail bond, which in many states is restricted by law to 10% of the bond amount. For example, if a bond is set at $10,000, a $1000 premium would be paid to the bail bond company in exchange for posting the bail bond and releasing the defendant from custody. In some cases, a bond can be written for 8% depending on the percentage filed and approved by the insurance commission. Payment plans are normally available through bail bond companies in order to pay the bail bond premium. Please keep in mind, that most companies will allow you to put a percentage of the bail bond premium as a down payment, but payments are set up to allow you to pay the entire bail bond premium. Bail bond premium payments are normally set up on a monthly, weekly, or bi-monthly basis until the full bail bond premium is paid in full. Paying for the bail bond premium is usually paid by cash, check, PayPal, or credit card. The bail bond premium is
non-refundable and fully earned upon release of the defendant from jail, regardless of the final disposition of the defendant’s case. Paying a bail bond premium to a bail agent is usually a more affordable option than posting cash to the jail in place of the full bond amount.
Beware, if a bail bond company tells you that you can pay any other percentage, without an unpaid premium agreement stating that you will pay the entire bail bond premium “in full” over time, then they are doing what is called “rebating.” Rebating is illegal in the State of Washington, per the Washington State Insurance Commission. If you see that a company is “rebating,” that should tell you a few things: They are operating illegally, and are probably not going to treat you fairly if they operate in this manner. If a bail bond company is operating illegally, think about how they will probably treat you and your loved one once they are released from jail.
At A-Affordable Bail Bonds we will work with you and your financial situation, we will treat you fairly and legally on the bail bond premium in order to help you bail your loved one out of jail.