Lost/Defective Car Title Bond
A lost/defective car title bond is required if an insured has a lost or defective vehicle title. These types of bond are also known as certificate of title bonds, lost title bonds or defective title bonds, but they all serve the same purpose. This bond type guarantees payment to an individual with a valid claim on the vehicle.
Reasons your client would need a lost/defective car title bond:
- your original title was lost or destroyed
- a natural disaster ruined your title
- you paid for a vehicle but didn’t receive a title, and you can’t find the seller
- your vehicle is too old to have a title
- you built a custom-made vehicle