New Mexico Surety Bonds2019-07-17T18:54:49+00:00

New Mexico Surety Bond Broker

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New Mexico Surety Bonds

Surety Bonds in New Mexico

New Mexico is home to more than 130,000 businesses, many of which need surety bonds for permits, licenses, and construction contracts. The Land of Enchantment has 74 unique types of bonds that its state government requires of licensed businesses, while there are another 29 bonds that different local cities and counties throughout the state may also require for any business operating within certain geographical limits.

BondExchange features hundreds of New Mexico agents from every corner of the state, from Las Cruces and Santa Fe to Carlsbad, Albuquerque, and beyond. All of these agents leverage our network to source surety bonds for their many clients.

With access to more than 30 different markets, BondExchange helps agents find any of the 103 different surety bonds needed for New Mexico businesses. We offer fast and easy-to-use technology along with expert advice that makes surety bonds a profitable endeavor for all insurance agents.

New Mexico Surety Coverage with BondExchange

BondExchange provides comprehensive and complete access to every surety bond that the state of New Mexico and its local municipalities may require from local businesses. Agents can utilize our platform to locate the exact surety bonds that their clients need, instantly provide those clients with quotes online, and then complete those applications and bond purchases. This quick and easy process takes just a few steps from beginning to end. Below are just a few of the different types of surety bonds that you may need to quote for New Mexico business clients.

Mortgage Loan Services

Businesses such as mortgage loan companies or mortgage loan originators in New Mexico need specific surety bonds to be in place before providing those services to the public.

Motor Vehicle Sales

Under New Mexico law, businesses need to secure a surety bond if they want to operate a motor vehicle dealership for either new or used vehicles, or a motorcycle dealership. These bonds, which are issued for the benefit of the state’s Motor Vehicle Division, can range in value from $12,500 to $50,000.

Financial Services Bonds

Providing financial services in New Mexico often means taking out a surety bond. Whether operating as an appraisal management company, collection agency, investment adviser, or independent adjuster, your clients will require a surety bond to operate legally.

Blanket Plugging Bonds

Oil and gas companies operating wells in New Mexico must provide a surety bond to ensure that the wells will be properly plugged when no longer productive. Based on the number of wells in temporarily abandoned status, the bond amount ranges from $50,000 to $1 million.

City or County Surety Bonds

A number of cities and counties in New Mexico require companies doing business in their jurisdiction to hold specific surety bonds. Examples include excavation contractors in Bernalillo County, transient merchants in Santa Fe, and pawnshop operators in McKinley County.

Private Education Bonds

Businesses that operate private schools are required to be bonded under New Mexico law. These include private postsecondary institutions, driving training schools, and barber or cosmetology schools.

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If you’re an agent in New Mexico, sign up with BondExchange to gain full access to all of the surety bonds we offer. For a complete list of all surety bonds covered in New Mexico, expand the box below.

State Bonds Municipal Bonds

Abstracter ($7,500.00)
Alcohol Server Training Provider ($5,000.00)
Appraisal Management Company ($25,000.00)
Barber/Cosmetology School ($5,000.00)
Blanket Plugging ($50,000.00)
Blanket Plugging ($150,000.00)
Blanket Plugging ($300,000.00)
Blanket Plugging ($500,000.00)
Blanket Plugging ($1,000,000.00)
Broker Dealer
Collection Agency ($5,000.00)
Collection Agency
Contractor License ($10,000.00)
Driving Training School ($5,000.00)
Employee Leasing Program ($100,000.00)
Escrow Company ($100,000.00)
Fruit and Vegetable Dealer ($10,000.00)
Fruit and Vegetable Packer/Shipper ($5,000.00)
Hunting and Fishing License Vendor
Independent Adjuster ($10,000.00)
Insurance Premium Finance Company ($10,000.00)
Investment Advisor
Manufactured Housing Broker ($50,000.00)
Manufactured Housing CID Crossover Contractor ($10,000.00)
Manufactured Housing Dealer ($50,000.00)
Manufactured Housing Installer or Repairer ($10,000.00)
Manufactured Housing Manufacturer
Mineral Lease – Performance and Surface or Improvement Damage
Mineral Lease – Performance and Surface or Improvement Damage (Mega) ($25,000.00)
Modular Structure Certification
Modular Third Party Inspector
Mortgage Loan Company ($50,000.00)
Mortgage Loan Company ($100,000.00)
Mortgage Loan Company ($150,000.00)
Mortgage Loan Originator ($50,000.00)
Mortgage Loan Originator ($100,000.00)
Mortgage Loan Originator ($150,000.00)
Motor Club
Motorcycle Dealer ($12,500.00)
Motor Vehicle Defective Title
Motor Vehicle Recycler ($50,000.00)
New Motor Vehicle Dealer ($50,000.00)
Non Resident Insurance Broker
Notary Public ($10,000.00)
One Well Plugging
Oversize & Overweight Permit Fee & Tax
Petroleum Weights and Measures Service Establishment ($1,000.00)
Private Investigator ($10,000.00)
Private Patrol Operator ($10,000.00)
Private Postsecondary Institution
Professional Fundraiser ($25,000.00)
Promoters of Professional Athletic Events
Property Broker or Freight Forwarder BMC-84 (ICC Broker) ($75,000.00)
Public Adjuster ($10,000.00)
Repossessor’s Company ($5,000.00)
Residents’ Fund Trust
Right-of-Way or Water Lease – Damage
Right of Way Performance and Completion
Salt Water Disposal Easement – Damage and Performance ($10,000.00)
Salt Water Disposal Easement – Reclamation ($100,000.00)
Scrap Tire Hauler ($10,000.00)
Self-Insurer of Workers Compensation
Service Contract Provider
Special Fuel Supplier/Gasoline Distributor Tax
Surplus Lines Broker ($20,000.00)
Title Service Company ($50,000.00)
Uniform Money Services Business
Used Motor Vehicle Dealer ($50,000.00)
Vehicle Identification Number (VIN) Inspector: Motor Vehicle Dealer ($30,000.00)
Vehicle Identification Number (VIN) Inspector: Title Service Company ($30,000.00)
Viatical Settlement Provider
Water Well Driller ($5,000.00)
Weighmaster ($1,000.00)
Weights and Measures Service Establishment ($1,000.00)

Albuquerque – City Barracading Compliance ($5,000.00)
Albuquerque – City Contractor’s Excavation
Albuquerque – City Contractor’s Sidewalk, Drive-Pad, Curb & Gutter
Albuquerque – City Contractor’s Water and Sewer Tapping ($30,000.00)
Albuquerque – City Contractor’s Water Tapping
Albuquerque – City Homeowner’s Sidewalk, Drive-Pad, Curb & Gutter
Albuquerque – City Pawnbroker ($5,000.00)
Albuquerque – City Payment of Permit Fees for Building & Safety Division
Albuquerque – City Payment of Permit Fees for Department of Municipal Development
Any Union Wage and Welfare
Bernalillo – County Contractor’s Barricading ($15,000.00)
Bernalillo – County Contractor’s Excavation
Bernalillo – County Contractor’s Sidewalk, Drive-Pad, Curb & Gutter ($5,000.00)
Bernalillo – County Payment of Permit Fees
Carlsbad – City Liquid Waste Hauler
Carlsbad – City Transient Merchant
Clovis – City Transient Vendor’s and Solicitor’s Performance
Farmington – City Electrical or Plumbing and Mechnical Contractor ($500.00)
Farmington – City Pawnbroker ($5,000.00)
Generic Obligee Concessionaire
Installation Made Easy Inc (IME) IME Affiliate
Los Ranchos De Albuquerque – Village Contractor’s Excavation
Lovington – City Transient Merchant
Lumber Liquidators Inc Installation Provider
McKinley – County Pawnshop ($5,000.00)
MEMO Financial Services, Inc dba MEMO MEMO Money Order
Santa Fe – City Street Cut License ($10,000.00)
Santa Fe – County Contractor’s Excavation ($15,000.00)
United States of America Bureau of Indian Affairs Peddler’s Permit

Why Partner with BondExchange for New Mexico Surety Bonds?

BondExchange has experience with helping insurance agents for more than 40 years, and we’ve used that experience to build a useful technology platform designed to make agents more efficient. We know that most insurance agents do not focus on surety, so we’ve created a process that is simple, fast, and profitable for agents.

Simplifying the Bond Process with Time-Saving Tools

Based on years of feedback, we created tools to alleviate pain points for agents. For example, agents can send a link to their customer to complete the bond application on our website, removing the need for the agent to collect the information. Customers receive instant quotes, an option to pay for their bond monthly, and immediate bond documents at purchase.

You Deserve a Customized, Expert Service

Our agents always come first here at BondExchange. Your name and brand are featured prominently at all times, making it easy to reinforce your expertise and professionalism with your clients. With our staff of experienced specialty underwriters, you can expect clear and comprehensible answers to any surety questions you may have.Our expert staff is available by phone, chat, or email.

One Point of Entry for All Surety Bonds

BondExchange is the only source New Mexico agents need to place surety bonds for their customers. We know how important it is to keep it simple, so we provide access to hundreds of different types of bonds and rates from more than 30 different carriers through an innovative online application.

Instant Quotes from 30+ Surety Carriers

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If you’re an agent currently working in the State of New Mexico, we would love to hear from you.