How much does a bail bond cost?
In Virginia, a secured bail bond shall cost not less than 10% nor more than 15% of the total bail set by the magistrate or judge.
How much is bail on a $1000 bond?
In Virginia, a $1000 bond will cost $100, which is 10% of the total bond amount.
The most asked question a bail bondsman gets is ‘How much does a bail bond cost?’.
In Virginia, bail bondsmen can legally charge between 10% and 15% of the total bond. This is referred to as the premium. Interest cannot be charged for any unpaid premium amounts.
Viginia Code
Quoting the law from the Virginia Code § 9.1-185.8, section I
A licensed bail bondsman shall not charge a bail bond premium less than 10 percent or more than 15 percent of the amount of the bond. A licensed bail bondsman shall not loan money with interest for the purpose of helping another obtain a bail bond.
Optional Fees
In addition to the premium, a bondsmen may charge and administrative fee. The statute (below) uses the word “reasonable” to as a measurement of what can be legally charged. Quoting from section D in the same chapter as above:
An administrative fee may be charged by a bail bondsman, not to exceed reasonable costs. Reasonable costs may include, but are not limited to, travel, court time, recovery fees, phone expenses, administrative overhead and postage.
Note the premium and the fees are total cost of the bond providing the defendant shows up to all his or her court appearances.
If you’re not sure the defendant will show up to their court dates, don’t cosign.
If you’re thinking of cosigning for a loved one and can’t afford to pay the full amount of the bond, don’t cosign unless you are certain they’ll show up, and deal with a bonds.
Click Here for a complete explanation of all the options for bonding a loved on out of jail.