Florida Auto Dealer License Renewal Requirements

Every year Florida Auto Dealers are required to renew their licenses by April 30th. In order to renew your license you must be bonded and insured at $25,000. Your are also required to have PIP protection in the amount of $10,000.

It is important to remember the April 30th deadline to avoid late fees. The renewal fee for auto dealers license is $75. If you apply late there is an additional fee of $100. If you would like to renew for 2 years, the cost is $150. You are also required by the state to have a garage liability insurance policy as well as a Florida auto dealer bond.

Surety bond pricing can vary based on credit, assets and other financial factors. Pricing for auto dealer bond can be as low as $1,500.

Auto dealers insurance is just as important and also required by law. The state of Florida requires auto dealer carry a minimum of $25,000 in liability cover. However, the lowest most insurance companies will go on this coverage is $30,000. Florida auto dealers are also required to have PIP (personal injury protection) in the amount of $10,000.

To speak with an agent at Gould today in regard to your surety bond and garage liability insurance needs feel free to reach out at (386) 734 3970