Get the Best Deal on a Big Bail Bond.

Bail bonding is perhaps the most misunderstood legal profession in the country. Lawyers, clerks, and even magistrates who work in the criminal justice system on a regular basis are not able to provide the most basic interpretation of the bail bond procedure. Bail Bonds is one of the authority sites on this topic.
Add to that the fact that most people who find themselves in need of a bail bondsman (or at least believe they do) are sometimes in a state of confusion as a result of the burden of having a loved one imprisoned. Bail bondsmen, without a doubt, have a strategic advantage when it comes to negotiating the terms of their operation, assuming any negotiating is done at all.
So, how does someone who has no idea what this enigmatic career entails make sure they aren’t paying more than is reasonable?
Let me begin by emphasising that the aim of this article is to provide just enough information about bail bonds to enable the reader to obtain the best possible price. I’m not going to go over the whole bail bonding process because, in fact, knowing all of the specifics isn’t sufficient to get the best deal. Furthermore, we are discussing LARGE bail bonds. A tense negotiation for a $1,000 bail bond is not something a bail bondsman is involved in. Until you pay the bill, your bailee will most likely remain imprisoned.
There is one topic that must be discussed in order to restrict the negotiations to bail bonding firms that will genuinely assist you, and that is the distinction between Surety and Property bail bondsmen. We’ll get to that in a minute, but first, let’s look at a standard bail bond.
The standard price for a bail bond is 10% of the bond sum, so a bondsman can charge you $100 to post a $1,000 bail bond, for example. In this sector, it’s standard practise to inform clients that this price is non-negotiable since the percentage rate is fixed by statute and cannot be changed. This is only partly accurate. This is where knowing the difference between the two forms of bail bonding firms comes into play, and it all has to do with collateral.
Surety bail bondsman- Surety bail bondsman account for the majority of bail bond agents worldwide. There are people whose businesses don’t have any financial assets to back up the bail bonds they’re writing. Instead of using real estate, the bail bondsman collaborates with an insurance broker, which serves as the bail bond’s collateral. Surety bail bondsmen are also a form of insurance agent, and as such, they must have a property and casualty insurance certificate. Since these types of bail bonds are essentially insurance, the “premium” or rate (the 10%) is fixed and cannot be changed by the bondsman. This is the amount that the insurance firm filed with the Insurance Commissioner, and it must be followed.
This is why the first thing to ask while shopping around for a decent deal is “are you a Surety or Property bail bondsman?”
Property bail bonding companies, on the other hand, have pledged real estate as collateral for the bonds they write and are therefore not obliged to meet any pricing guidelines. With a property bail bondsman, the only limiting factor on price is benefit vs. risk. And risk is crucial.
So, now that you know you need to locate a property bail bondsman first, how do you get the best deal?
As a property bail bondsman, we consider discounting in terms of benefit vs. risk. Taking away risk is the best way to get me to lower my rate.
How do you go about doing that? When assessing risk, the cosigner is the most important factor for a property bail bondsman. A bail bond is a three-party agreement between the bail bondsman, the defendant, and the cosigner on the bond (a person who agrees to be held civilly liable for the full sum of the bail if the defendant fails to appear at any of their court dates). Simply put, once you’ve found the right cosigner, you can start searching for prices in the 8% to 4% range. In the end, the lower the price, the larger the bail bond and the stronger the cosigner.