Surety bonds should always be renewed at least 30 days before the new term starts to avoid potential licensing problems such as a lapse in coverage or late fees. That said, our team always recommends renewing every surety bond as soon as possible once you've received the renewal invoice for your bond's next term.
Renewal filing instructions are always set by the entity requiring your bond (the "obligee"). If they require new documentation be filed at renewal, that could slow down your renewal process. The same goes for any changes made to your bond information at renewal.
If you do not renew your bond during its renewal period, your market will cancel your bond before the new term is set to begin according to the bond's cancellation notice. If you later need to reinstate your bond, your pricing could change as invoiced premiums expire after 90 days.
Whenever you're ready to renew, you can pay your emailed renewal invoice online 24/7.
If you have a question about the renewal process or need help renewing a bond at this time, call 1 (800) 308-4358 or email firstname.lastname@example.org, and one of our friendly representatives will walk you through the next steps.