Motor Vehicle Dealer Bond in Idaho

What this bond requires in Idaho

Idaho Code § 49-1607 requires every licensed vehicle dealer to maintain a $20,000 corporate surety bond running to the Idaho Transportation Department for the benefit of any person suffering loss caused by the dealer violation of title 49, chapter 16. Licensing is handled by ITD Dealer Operations, and licenses expire annually and must be renewed. The bond must remain in continuous force during the license period.

Who requires it

The motor vehicle dealer bond is required by the Idaho Transportation Department, Division of Motor Vehicles, Dealer Operations Section under Idaho Code § 49-1607.

How to file in Idaho

Dealers apply through ITD Dealer Operations Section by completing the Idaho Dealer License Application (ITD 3169 series), submitting the $20,000 surety bond on ITD approved bond form, garage liability insurance, business registration, and the license fee. Applications and bond originals are filed with Dealer Operations in Boise; renewals are processed annually before the license expiration date.

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FAQ

Common questions

Is a motor vehicle dealer bond required in Idaho?

Yes. Idaho requires motor vehicle dealer bonds issued by an admitted surety. The required amount is $20,000.

How much is the bond in Idaho?

The bond amount is $20,000. Your annual premium is a small percentage of that, based on credit and experience.

Who requires the bond?

The bond is required by the Idaho Transportation Department, Division of Motor Vehicles, Dealer Operations Section.

How is the bond filed?

Dealers apply through ITD Dealer Operations Section by completing the Idaho Dealer License Application (ITD 3169 series), submitting the $20,000 surety bond on ITD approved bond form, garage liability insurance, business registration, and the license fee. Applications and bond originals are filed with Dealer Operations in Boise; renewals are processed annually before the license expiration date.

What does the bond cover?

Surety bonds protect the obligee, not the principal. If you fail to meet the obligation the bond guarantees, the surety pays the claim and recovers from you.

Is a surety bond the same as insurance?

No. Insurance protects you. A surety bond protects whoever required the bond. You repay the surety for any claim they pay.