Michigan Security Guard Agency Bond Guide
In Michigan, private security guard agencies are required to file a $25,000 bond. Use the guide below to learn how to navigate the bonding process.
Bond Overview
- Purpose: To protect clients from potential harmful behaviors by private security guards
- Who Needs It: Security guard agencies in Michigan
- Regulating Body: The Michigan Department of Licensing and Regulatory Affairs
- Required Amount: $25,000
- Premium Rates: $438 flat rate
What Is a Michigan Security Guard Agency Bond?
The Michigan security guard agency bond guarantees clients that agencies will work according to the laws and regulations in Michigan. This type of surety bond protects outside parties if an agency causes property damage or personal harm.
How Much Do Security Guard Agency Bonds Cost in Michigan?
The Michigan Department of Licensing and Regulatory Affairs requires every security guard agency to have a $25,000 bond. These bonds cost a flat rate of $438 for the two-year term. Click below to purchase in minutes.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Michigan Security Guard Agency Bond Work?
The Michigan security guard agency bond binds these three parties in a legal contract:
- Principal: The private security guard agency
- Obligee: The Michigan Department of Licensing and Regulatory Affairs – Bureau of Commercial Services
- Surety: The surety provider
If you, the principal, violate the bond terms, harmed parties can file claims for up to $25,000. The surety will validate and pay the claims, which you are responsible for reimbursing.
Who Needs a Security Guard Agency Bond?
All incorporated security guard agencies in Michigan need either the $25,000 surety bond or an insurance policy that covers
- $25,000 in property damages
- $100,000 for injury or death of one person
- $200,000 for injury or death of more than one person
A surety bond can be a quicker and cheaper option for many licensees. Learn more about bonds versus insurance here.
How Do I Get a Security Guard Agency Bond in Michigan?
SuretyBonds.com provides the most convenient way to get a security guard agency bond. Buy your bond instantly online using the forms above. You’ll receive your official bond documentation within minutes via email.
Print and sign the bond form and then file alongside your application paperwork.
Can I Get Bonded With Bad Credit?
Yes, you can get a Michigan security guard agency bond with bad credit. These bonds are instant issue and require no credit check.
How Do I Renew My Security Guard Agency Bond?
Michigan security guard agency bonds last for two years. You’ll need to renew your bond to stay licensed. SuretyBonds.com will contact you starting 90 days before expiration with renewal instructions.
Note: The surety can cancel the bond at any time by giving the Department 30-days written notice.
How to Become a Security Guard Agency in Michigan
All security guard agencies in Michigan need a license. To qualify for a license, you must meet the following requirements:
- Be at least 21 years old
- Have a high school diploma
- Have no misdemeanor or felony convictions
If you are eligible, gather these documents for your application packet:
- Proof of a surety bond or the appropriate insurance coverage
- Five reference statements
- Two passport photos of the Qualifying Officer
- Articles of Incorporation or Organization
- Entity Members Form
- Approval of County Sheriff
- Approval of County Prosecuting Attorney
- Employee rosters
- $300 application fee
Once you have these documents, apply online through MiCLEAR. Find specific forms and more details on the Michigan.gov site.
