Contractor License bond

Not all states require a contractor license bond, but it’s California law that all licensed contractor file a Contractor’s License Bond with the Registrar of Contractors. The only other option available to you is a cash deposit in the amount of $12,500. But what exactly is a contractor bond?

Required by the Contractors State License Board, a contractors license bond is a type of surety bond that ensures the contractor will abide by the Contractor’s License Law. If, for any reason, the contractor can’t finish the job or construction doesn’t live up to expectation, the bonding company has the ability to cover the losses suffered by the homeowner or business. This doesn’t mean that the contractor doesn’t suffer any repercussions. You’re then required to reimburse the bonding company for all expenses.

A contractor license bond is a form of protection for all parties involved, but it’s also a great way to highlight your reliability. By offering a contractors license bond, any party entering into a contract knows that their investment will be protected and it’s to your advantage to stick to the contract. But how do you go about securing a contractor license bond?

Simply contact Green Peak insurance. Our experienced professionals have secured contractor license bonds for years and have access to a database that searches hundreds of providers for affordable rates. With a simple online application, you’ll be notified of approval and then you can manage your account from the comfort of your own home. Of course, if you ever want to talk to a live person, we’ve got insurance agents on hand 24 hours a day. Whether you’re updating your coverage or changing the entire infrastructure of your contracting business, we have the ability to find the right coverage at a price you can afford. To enhance your reputation and safeguard the future of your business, secure a Green Peak contractor license bond.