Surety bonds • New Mexico
New Mexico Surety Bonds: Requirements and Costs by Bond Type
New Mexico requires surety bonds for vehicle dealers, notaries, licensed contractors, and contractors on public works over $25,000. Dealers need a $50,000 bond, notaries and licensed contractors each need $10,000, and public works need 100% performance and payment bonds. This guide lists the most common New Mexico bonds and what they cost.
Each bond links to a detailed guide with official sources. Blake Insurance Group is an independent agency licensed in New Mexico, and a licensed agent can help you find and file the bond you need.
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Tell us the bond you need and who requires it, and a licensed agent will follow up. Submitting the form does not bind coverage.
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Common New Mexico surety bonds
| Bond | Who requires it | Required amount |
|---|---|---|
| Motor vehicle dealer bond | Motor Vehicle Division | $50,000 ($12,500 motorcycles) |
| Notary bond | Secretary of State | $10,000 |
| Contractor license bond | Construction Industries Division | $10,000 |
| Public works bonds | State agencies and local public bodies (§ 13-4-18) | 100% of contracts over $25,000 |
Amounts are sourced in each linked guide.
Federal bonds New Mexico businesses often need
- Freight broker bond (BMC-84): $75,000, filed with FMCSA.
- ERISA bond: at least 10% of plan funds handled.
- Bid bonds and Miller Act bonds on federal construction.
What New Mexico bonds cost
Notary bonds start around $50 for four years, contractor license bonds around $100 a year, and the $50,000 dealer bond around $375 a year. Contract bonds are priced based on credit and finances. See our surety bond cost guide or the surety bond cost calculator.
New Mexico surety bond FAQs
How much is a New Mexico dealer bond?
$50,000, or $12,500 for motorcycle-only dealers.
How much is a New Mexico notary bond?
$10,000 for a four-year commission.
How much is a New Mexico contractor license bond?
$10,000, kept in force for the full licensure period.
Related guides
- New Mexico auto dealer bond
- New Mexico notary bond
- New Mexico contractor license bond
- New Mexico public works bond
- Arizona surety bonds
- Texas surety bonds
- Surety bonds
- Surety bond cost
- Surety bond cost calculator
- Buy a surety bond online
- License and permit bonds
- New Mexico landscaping contractor insurance
- New Mexico HVAC contractor insurance
- New Mexico electrical contractor insurance
- New Mexico plumbing contractor insurance
- New Mexico roofing contractor insurance
- South Dakota surety bonds
- West Virginia surety bonds
Important information
Compensation. The link in the partner quote box near the top of this page is sponsored, and Blake Insurance Group may be paid if you make a purchase. Sponsored placement does not affect the other information on this page.
Independent agency. Blake Insurance Group LLC is an independent insurance agency. Licensed insurance producer NPN 16944666. Licensed states: AZ, AL, TX, CA, NY, OH, FL, NC, VA, GA, OK, NM, IA, KS, MI, NE, SC, SD, WV, IL, NJ, PA, TN, and WA. Which insurance companies we can quote depends on our current appointments, the product, and your state. Mentioning a company on this page does not mean we represent it.
Cost figures. Published averages and ranges are cited from the sources named, as of the dates shown. They are not quotes and may not reflect your price, which depends on the insurer, the surety, your credit, the bond type, and underwriting.
Availability. Coverage, prices, discounts, and eligibility vary by insurer, state, and applicant, and are subject to underwriting. The issued policy controls.
Your next step
Tell us the New Mexico bond you need, and a licensed agent will help you compare options, or start a bond quote online with our partner.
