How Do Bail Bond Companies Make Money?

When you go to court, and they set your bail, they require you to pay 10% of the bond as surety. Now, not many people have cash like that sitting around at home, so they go to a bail bond agency to get the help they need. It's a lot easier than going to jail because you can't afford bail. When you go to a bail bond agent, they agree to pay the 10% for you to sign an agreement and pay a premium. Let's say that your bail amount was set at $40,000, all you have to pay is $4,000 to get out of jail, but that's still pretty steep, which is why most people go to a bail bond agent to pay the cash when they can't. 

How do Bail Bond Companies Get Paid?

When a bail bond agent pays your bond, they require you to pay a premium of 10% for the first 100 paid and 5% for each $100 after that. So if they paid $4,000 for your bail, you would be required to pay them $205, which doesn't seem like a lot, but if a bondsman were to get two or more of those a day, it sure adds up. This is why the more people they work with, the more money they make. You might be wondering why a bondsman would pay $4,000 for $205. Well, that's because when you pay bail, that money comes back once the hearing is completed. You only have to pay to insure your return to court. Otherwise, there would be a lot more people skipping bail. If you want the money back, you need to go to court. But when a Bondsman pays the bail amount, they promise to do whatever it takes to help them make it to their court date. That also means driving them there if needs be. 

Risks When Paying Someone's Bail

When you go to a bail bond agent, the first thing they do is figure out whether it's a risk to help bail you out or if they can trust that you'll be honest with their dealings. They check things like background history, employment history, criminal history, and financial history. Usually, first-time offenders that have a low flight risk are an excellent catch for bondsmen. If they deem you worthy, they will pay off your 10% bail fee with a promise that you will pay the premium once the hearing has been completed. If a person doesn't show up to their court date, they will have to pay the full bail amount to the court, and because the bondsman paid the 10%, they are partially to blame if someone skips don't show. However, if this does happen, it gives the bondsman the legal right to arrest the person who has skipped bail. 

If you or someone you know is in jail and needs help being bailed out, Sportsman's Bail Bonds is the place to go. We have the best agents in all of Utah to help you with everything you could need. We do our best to get you fast results with love.