Most bonds are issued for a one-year term. Before your bond expires, you will receive a renewal notice. Renewing on time keeps your license in good standing and avoids any lapse in coverage.
Canceling a bond can put your license at risk, since the bond is often a condition of operating legally. If you are considering a change, contact us first so we can review your options and keep you compliant.
How renewals work
We send a renewal notice ahead of your expiration date so you have time to act. Renewing keeps the same bond active for another term with no gap, which protects your license and your standing with the obligee.
Why a lapse is risky
If your bond lapses, the agency that requires it may suspend your license or stop you from operating until coverage is restored. A gap can also make future bonds harder or more expensive to obtain, so renewing on time is almost always the cheaper path.
Thinking about canceling?
Because the bond is usually tied to your license, canceling can have consequences beyond the bond itself. Talk to us before you cancel so we can review your situation and keep you compliant.