The Difference Between Bail Bond Amounts and Premiums

Bail bonds give individuals the opportunity to leave jail while they wait for their trial dates. Bonding companies offer financial help to individuals and families who can’t afford to pay the entire bail amount on their own. These companies pay the bail amount and require their clients to pay a premium. Here is more information about the difference between bail bond amounts and premiums:

Bail Bond Amount

The bail bond amount is the total price required to release an arrested individual from custody. The judge determines this amount by assessing the defendant’s crimes, flight risk, and criminal history. The more severe the crimes are and the greater the flight risk is, the higher the bail amount will be. This helps confirm that the individual will remain in custody until their trial date.

When the bondsman presents the court with a bail bond, they are promising that the incarcerated individual will show up for their scheduled court dates after release. If the individual fails to attend their court hearings, they forfeit their right to bail bonds. The bonding company is then responsible for bringing the individual back into legal custody, and they may end up paying the full bail amount if they are unable to do so.

Bail Bond Premium

The bond premium is the amount of money the incarcerated individual or their family members must pay the bonding company for its services. This premium serves as a retainer for the bondsman’s services. It covers the company’s communications with the court and the risk the bondsman takes by vouching for the defendant. Woodard Bonding Company sets its bond premium at 10% of the total bail amount. The bond premium and any additional fees paid to the bondsman are non-refundable, even if the defendant’s case is dropped or they are found innocent.

How To Get Bail Bonds

To secure a bail bond, find a bondsman in the same geographic area as the jail you or your loved one is located in. This confirms that the company has experience working with the local legal system and court officials. After identifying a reputable, local bonding company, provide them with the defendant’s full name and date of birth. The bondsman will also need to know the name of the jail the defendant is being held in, what they’ve been charged with, and what their bail amount is. The bonding company uses this information to arrange the release of the defendant and calculate the bond premium. Once you have paid the premium and the bonding company has contacted the jail, they will reach out to you to explain the arrangements for release.

Work With a Reputable Bail Bondsman

Woodard Bonding Company has served Sumner County, Tennessee, and the surrounding areas for over 50 years. Our licensed staff members are available to assess your case 24 hours a day, every day of the year. We can complete the bond consultation over the phone to make the process more efficient for defendants and their families. Contact us today to learn more about securing a bond and paying the premium.