Most bail bond companies, including Downey Bail Bonds, are regulated by the California Department of Insurance. This government organization has set the standardized fee, or “premium,” a bail bondsman can charge at 10%, meaning that if a defendant’s bail is set at $5,000, the cost of a bail bond company’s premium is required, by law, to be no more and no less than $500. The Department of Insurance makes certain exceptions in the case senior citizens, active members of the United States military, union members, and defendants that have secured legal representation—for these individuals, a bail bondsmen may legally charge 8% of the total bail amount. Take Note: bail bond premiums are always non-refundable, and if the defendant fails to appear in court (called a “forfeiture”), the person who purchased the bail bond (indemnitor) must pay the bail bondsman the total amount of the bail.
You should be mindful that bail bond companies who offer 5% bail bond fees or “cheap bail bonds” are violating California Law. Any company that offers you these rates or makes these claims is either acting illegally or will put you on a payment plan when you sign the contract. These “price cutting” bail agents are saying and doing whatever they can to get your business. if you have any question please call our office. 1-800-944-1599
A Downey bail bondsman is an individual that is licensed by the California Department of Insurance and can legally assist those in need of a bail bond to have a defendant released from jail. Typically, the 10% premium is always paid up-front; however, some exceptions may apply to those that are credit-worthy.
In addition to no collateral bonds, we often offer clients flexible payment options to help ease the strain of having to pay a large sum of money all at once.
To qualify for a payment plan, the co-signer of the bond (known as the indemnitor or the one taking responsibility for the defendant) would need to have good credit and / or be a Downey homeowner.