What does Bail Bond mean? Read on to discover the definition & meaning of the term Bail Bond - to help you better understand the language used in insurance policies.
A bail bond is a bond that a bail bondsman gives to a criminal defendant so that he or she can pay the government to release him or her from being incarcerated while awaiting trial. This is called "making bail." If the defendant shows up for trial, then he or she gets the money back. He or she can then use that money to repay the bail bondsman. In the context of insurance, bail bond companies must have commercial insurance to legally operate due to the risks associated with the business.
We hope the you have a better understanding of the meaning of Bail Bond.