What is a New York Special Hauling Permit Bond?
Traverse the New York highways with ease through this surety bond!
If your vehicle exceeds the allowable legal weight limit and dimensions stated in Section 385 of the New York State Vehicle and Traffic Law, you must apply for a special hauling permit.
The New York State Department of Motor Vehicles will require you to submit a sufficient surety bond for the issuance of the aforementioned special hauling permit.
The surety bond is a way to ensure that the permit holder will comply with the rules for over-dimensional and overweight vehicles. This includes traveling across the designated highways during the permissible hauling days.
What is the Special Hauling Permit Bond amount?
The bond amount will depend on the dimension, weight, or class of vehicles.
Height: ≥ 16 Feet but < 17 Feet = $10,000
≥ 17 Feet = $30,000
Width: > 16 Feet = $10,000
Length: > 160 Feet = $10,000
Weight: ≥ 200,000 Lbs. but < 300,000 Lbs. = $10,000
≥ 300,000 Lbs. but < 400,000 Lbs = $20,000
> 400,000 Lbs = $50,000
Type 15 – 16 Foot Manufactured Home = $10,000/move or $25,000/company
For combinations of dimensions and weight, the total bond amount will be determined by adding the bond amount required for each weight and dimension.
For example The total bond for a vehicle that has the following dimensions and weight.
$30,000 (Height 18 ft.) + $10,000 (width 18 ft.) + $10,000 (163 ft. length) + $50,000 (430,000 lbs. weight) = $100,000 TOTAL BOND AMOUNT
Your bond premium will depend on your credit score. Those who have an excellent credit score will be able to pay as little as 1% of the bond amount!
How can I get a Special Hauling Permit Bond?
SEND US A BOND APPLICATION – We begin the bonding process with an application. You may send your application for this bond HERE!
UNDERWRITING – Once we have received your application, an underwriter will ask you to submit the following important requirements:
- Proof of your financial capability
- Your business’ history
- Your credit score
To avoid any delay, make sure that your requirements are complete before submitting them.
ISSUANCE – As soon as the underwriter has completed the necessary in-depth check, we will immediately issue the surety bond and send it to you!
What are the surety bond conditions?
- The surety bond should be issued by a New York State-recognized surety
- The surety bond should be made payable to the New York State Department of Motor Vehicles
- The permit holder should obey the provisions of the applicable laws of the state, as well as the rules and regulations of the New York State Department of Motor Vehicles
- If the permit holder violates any of the state laws, or the conditions of the surety bond, the Obligee or the aggrieved party will be eligible to file for a surety bond claim
Ready to start on your bond? APPLY NOW!