Over Axle Overweight Bond
What is an Over Axle Overweight bond?
Hauling oversized, overweight or wide loads creates a risk while traveling down the highway. Physical damages to roadways and other public property can financially impact state governments and the Department of Transportation. Overweight bonds guarantee that any damage resulting from the transfer of overweight loads or vehicles is covered.
The Department of Transportation issues permits for hauling overweight loads, which generally cannot be broken down into smaller loads in order to conform to legal limitations. Claims can be filed against the insured’s overweight bond if financial losses are suffered during the transport of these hauls.
Over Axle Overweight Bond Limitations
Overweight permit bonds do come with some limitations:
- Load-Posted bridges: If a bridge has a weight limit listed, even with an overweight permit bond, your vehicles may not cross it if your total weight is higher than the maximum weight posted. The only exception for this is if the bridges provides the only public road access on your route to and from your destination. Our advice is to find an alternate route if possible.
- Interstate Highway System: When you apply for your bond, you can pay a fee per county that you wish your overweight vehicles to travel through. Once you have paid, you are now able to drive your vehicles on all county roads and state-maintained roadways in those paid for counties. This excludes all roads that are part of the Interstate Highway System, since those roads are maintained by the federal government, and not the State of Texas.
Overweight permit bonds are annual permits. So when your year is coming to a close, give us a call at TMD Surety Bonds. We’ll help you make sure that you get the best bond rate available.
Pricing & Terms
Surety bond costs are a percentage of the full bond amount, which is usually determined by your personal credit. Providing industry experience, strong personal credit, and business/personal financials will help lower your bond rate. Reach out for a quote today.
Purchasing Your Over Axle Overweight Bond
- Click the Buy Now button.
- Fill out the easy bond form.
- Confirm your order and select how you would like your bond documents delivered. Email or regular mail.
- Pay for your bond.
- If you chose to have your documents emailed, you will receive them within minutes.
It’s that simple and fast!
Bond Purchase Process
1. Find Your Bond
2. Secure Pricing
3. Buy Online
Get Started
The bonding process can be confusing and cumbersome. Our surety bond experts are standing by and ready to answer any questions. Let’s get you bonded today!
Frequently Asked Questions
There are hundreds of different bonds for all kinds of purposes—but regardless the industry or project—they all operate essentially the same way. A surety bond guarantees that you will operate professionally and if you break the rules, a claim can be made on your bond which you’re responsible to pay.
You must fulfill the terms of the bond obligations, which vary immensely depending on bond type. Where you obtain your surety bond is important when it comes to understanding claims and avoiding them entirely. If you have any questions about what your bond does or doesn’t guarantee, reach out to our experts to help guide you along the way.
It’s a legally binding contract that you must sign to obtain a surety bond. The agreement guarantees that if you cause bond claims you will pay them in full.
For the most part, yes. Bad credit can increase rates for license and permit bonds and most can also get approved for fidelity bonds regardless of credit. For contract bonds, larger contractors with poor credit can be approved with strong CPA-prepared business financials.
The entity requiring the bond (the obligee) will determine whether a bond is required. Bond requirements vary greatly by your occupation and location. However, fidelity bonds are insurance and are usually optional to obtain.
Looking to Get Started or Have Questions?
The bonding process can be confusing and cumbersome. Our surety bond experts are standing by and ready to answer any questions. Let’s get you bonded today!