Getting a Reasonable Price on a Large Bail Bond in Louisiana

Do you have a relative or friend who is in need of help posting bail? Find out what you can do to get affordable bail bonds.

The bail bonding system is often the misinterpreted profession in the legal system. Professionals who are frequently or regularly exposed to a bail bonds system are the ones who are likely able to explain the basic process of a bail bond and what it’s all about. These professionals are lawyers, clerks and even magistrates within the criminal justice system. Since the system of bail bond is misunderstood, citizens who find themselves in a confused situation where they need a bail bondsman because their loved one is imprisoned often end up not being able to negotiate the terms of service they can get from the bond agent.

In order for you to get a reasonable price on a large bail bond in Louisiana, you must understand that there are actually two types of bail bonding companies: the surety bail bonds company and the property bail bonds company. So what is the difference between the two?

Surety Bail Bonds

The bail bondsmen around the country are mostly made up of surety bail bondsmen. These are bail bondsmen who have companies that have no collateral of their own to use to back-up the bail bond that they are writing. This type of bail bondsmen work with insurance companies who will provide the collateral for the bail bond so they wouldn’t have to use real property as collateral. So, given that it is the insurance company who provides the collateral, the surety bail bondsmen somehow acts like an agent. Given this, the surety bail bondsman are required to have a property and casualty insurance license. Since these types of bail bonds are somewhat a kind of insurance, the 10% rate of the total bail bond amount is pretty much set in stone and could never be changed by any bondsman. This is the rate which the insurance company filed with the Commissioner of Insurance thus must be complied to.

Property Bail Bonds

Property bail bondsman is the opposite of a surety bail bondsman. These types of bondsmen have companies who have pledged real estate as collateral for the bonds that they write. This means they do not work with any insurance companies, hence, they are not mandated to follow any kind of pricing. The only factors considered by property bail bondsmen are profit and risk.

Weighing Your Bail Bonds Options

Now that the difference between the two is established, you would then have to determine which one would be suitable for you. To ensure that you get the best price from a property bail bondsman in Louisiana, you must be able to find a reliable cosigner. A cosigner is the third party who agrees to be held civilly liable for the full amount of the bail if the accused fails to appear in court. The contract with the property bail bondsman will be between them, you and your cosigner. If you are able to find a reliable cosigner, you will most probably land an agreement price of about 8%-4% range. The idea is the bigger the bail bond, the better the cosigner, the lower the price you get.