With the cost of cars going up many States are finding out their current bonding requirements are not sufficient. Many MVD bond claims are now exceeding the bond amount. Because of this States are forced to increase their bond amounts and Connecticut is no exception.

Currently in Connecticut the surety bond required for businesses that sell motor vehicles is set at $20,000. The New law S414  would require the bond amount to be set at $50,000. This new bonding requirement has not passed as of yet, as soon as it does we will let you know.