Driving school operators in the Commonwealth of Massachusetts are required to post a surety bond with the Registry of Motor Vehicles (RMV) as part of their licensing requirements. The purpose of this surety bond is to guarantee that the principal (driving school operator) complies with all regulations in 540 CMR 23.00 of the Commonwealth of Massachusetts Regulations governing the operation of driver training schools, and ensures that the principal provides tuition reimbursement to enrolled students if the program closes before the students complete the paid course of study. If a harmed party files a valid claim against the bond, the surety will pay out up to the penal sum of the bond to resolve the claim. The principal is then required to reimburse the surety for all monies paid out, including any attorney fees incurred.
The amount for a Massachusetts Driving School Surety Bond varies and is based on the number of locations the licensee operates:
- 1 location $10,000 Bond
- 2 – 3 locations $25,000 Bond
- More than 3 locations $50,000 Bond
This Massachusetts Driving School Surety Bond has a continuous term and remains in effect until canceled. The surety can terminate the bond at any time by giving a 30-day written notice prior to the termination date to the RMV and the principal.
Pacific Surety is proud to offer a variety of approvals regardless of credit with rates as low at 1% annually for qualifying applicants. The process typically takes just a few hours for a quote, and we have the ability to beat any competitors pricing. If you have any specific questions, feel free to contact our knowledgeable underwriting staff.
Surety Bond Name
Driving School Surety Bonds – Massachusetts
VariesRequest a Free Quote