How Much Does A Bail Bond Cost?
The price a defendant or cosigner pays for a Bail Bond is known as a Bail Bond Premium. This is similar to paying for car insurance in that you pay a premium for a certain amount of coverage. While they are similarly non-refundable in nature, there is one very important difference. A Bail Bond requires the cosigner to pay the full amount of the bail set by the court in the event it is used or forfeited.
While Bail Bond Premiums range by the state they tend to be pretty standard across the board. Some states actually regulate what a bail bondsman can charge. Although there is no legal standard to the amount a bail bondsman can charge in Oklahoma, the competitive nature of the industry tends to keep costs within a fairly reasonable and predictable range.
Most clients pay their bondsman about 10% of the total bail in Oklahoma. However, there are other potential costs such as financing fees, administrative fees, filing fees etc.
Furthermore, it is important that a bondsman, being that he is a business owner, consider certain financial risk. For instance, if the bondsman is more likely to incur extraditions fees or need the services of a Bail Enforcer, he will likely charge more upfront to cover that potential cost. That would then become part of the non-refundable premium unless otherwise identified in the Bail Bond Contract as collateral.
At Good Guys Bail Bonds in Oklahoma, we prefer to keep things simple. We tend to charge a flat rate of 10% for most bonds and up to 20% in some rare cases.