You sell the boat. The bond backs the title and the taxes.
The bond your boat dealer license depends on
Many states require vessel, boat, or marine dealers to post a bond before issuing or renewing a dealer license — much like a motor vehicle dealer bond. It guarantees that you will deliver valid titles, remit taxes and fees, and deal honestly with buyers. Harmed buyers or the state can claim against it.
What a vessel dealer bond guarantees
The bond protects boat buyers and the state — guaranteeing clear title, payment of taxes and fees, and honest sales practices. If the surety pays a valid claim, you reimburse it in full. It's a licensing and consumer-protection requirement, not insurance for your dealership.
How much a vessel dealer bond costs
The bond amount is set by the licensing authority. The premium you pay is a small percentage of that amount — typically around 1%–3% for applicants with reasonable credit, more for weaker credit — so a modest bond often costs a few hundred dollars a year. We market it to multiple surety companies to get you the best rate.
Requirements vary by state
The required amount is set by the state agency that licenses vessel dealers and commonly runs from $10,000 to $50,000+. Some states fold boat dealers into their motor vehicle dealer licensing; others license them separately. We confirm your exact requirement before quoting.
Vessel Dealer Bond requirements by state
The required amount and authority differ by state — and sometimes by city or county. We are licensed in all 50 states; request a quote and we will confirm the exact requirement that applies to you.
Frequently Asked Questions
What does a vessel dealer bond cover?
It covers buyers' or the state's losses from a dealer's failure to deliver title, remit taxes/fees, or deal honestly. You reimburse the surety for any claim paid.
Who needs a vessel dealer bond?
Licensed boat, vessel, or marine dealers in states that require the bond. Amounts and whether boats fall under the motor-vehicle dealer rules vary by state.
How much does a vessel dealer bond cost?
A premium equal to a small percentage of the required bond amount, based on your credit.
How do I get a vessel dealer bond through Cory Washington & Co.?
Request a quote or contact our team. We confirm your exact requirement, market your bond across multiple surety companies that compete for it, and handle the filing. Cory Washington & Co. LLC is licensed in all 50 states.
All surety bond descriptions on this website are provided by Cory Washington & Co. LLC strictly for general informational purposes. They are not intended to be, and should not be relied upon as, legal, financial, or bonding advice. Surety bonds are not insurance. Bond requirements — including amounts, obligees, and bond forms — are set by government authorities and other obligees and change over time; the information presented is general in nature and does not guarantee the availability, terms, conditions, or amount of any bond. Actual bond terms are governed by the bond form issued by the surety and the requirements of the obligee, and any bond remains subject to underwriting approval. Nothing on this website creates or implies an agent-client relationship, binds a surety, or issues a bond. Cory Washington & Co. LLC expressly disclaims any liability for actions taken, or not taken, based on the content provided here. For advice regarding your particular situation, please confirm current requirements with the relevant authority and consult directly with a licensed professional at Cory Washington & Co. LLC.