Paying the Bond vs. Paying the Bond Premium

We’re often asked what the difference is between paying the bond and paying the bond premium amount.

Here’s an example: Dave is charged with larceny and the magistrate sets a $10,000 bond. That is the amount Dave must pay to convince the state that he’s serious about coming to court. Since most people don’t have ten grand to spare, a bondsman can be hired to post that ten thousand. A bondsman would typically charge $1000 for that bond, and most will take half down and then let Dave make payments. So rather than needing $10,000 to get out of jail, Dave’s family needed just $500.

The myth is that if Dave’s case gets dismissed, he no longer has to pay the bondsman the other $500 – and that is not true. Learn about that, and more, in our video: