Utah Contractor License Bond This guide provides information for insurance agents to help contractors on Utah Contractor License bonds At a Glance: Lowest Cost: $300 per year or $30 per month, based on the contractor’s credit Bond Amount: Determined by the DOPL on a case-by-case basis with a minimum limit of $15,000 Who Needs It: …
Virginia Contractor License Bond: A Comprehensive Guide This guide provides information for insurance agents to help contractors on Virginia Contractor License bonds At a Glance: Lowest Cost: Between $350 per year or $35 per month, based on the contractor’s credit score Bond Amount: $50,000 Who Needs It: All individuals and businesses seeking to obtain either a …
Washington Electrical/Telecommunications Contractor Bond: A Comprehensive Guide This guide provides information for insurance agents to help contractors on Washington Electrical/Telecommunications Contractor bonds At a Glance: Lowest Cost: $100 per year or $10 per month, based on the contractor’s credit score Bond Amount: $4,000 Who Needs It: All individuals and businesses that act as electrical or telecommunications …
Washington Contractor License Bond: A Comprehensive Guide *2SHB 1534 was signed into law in May of 2023 and increases the required limits on all Washington Contractor License bonds. The bill goes into effect on July 1st, 2024. This article has been updated to reflect these changes. This guide provides information for insurance agents …
Financial Guarantee Bonds: A Comprehensive Guide This guide provides information for insurance agents to help their customers obtain Financial Guarantee bonds What is a Financial Guarantee Bond? Financial Guarantee bonds are a category of surety bonds that ensure the principal (bonded party) will make payment to the obligee (usually a government agency). The term “financial …
December 16th, 2020 Surety Bond Basics: Underwriting Guide As an insurance agent, you’re most likely familiar with the underwriting requirements for insurance products. The insurance company estimates the likelihood that an unexpected event will occur, and charges the insured a premium rate based on that assessment. Surety bond underwriting incorporates these principles, but unique to …
Alaska Motor Fuel Excise Tax Bond: A Comprehensive Guide This guide provides information for insurance agents to help motor fuel dealers on Alaska Motor Fuel Excise Tax bonds At a Glance: Lowest Cost: $100 per year or $10 per month Bond Amount: The amount of the bond should be twice the average monthly motor fuel …
Alaska Land Use Bonds: A Comprehensive Guide This guide provides information for insurance agents to help customers on Alaska Land Use bonds At a Glance: Average Cost: 3%-5% of the bond amount per year, based on the business owner’s credit Bond Amount: Miscellaneous: $100,000 Performance: $10,000 minimum (determined by Division of Mining, Land and Water …
Alaska Home Inspector Bond: A Comprehensive Guide This guide provides information for insurance agents to help home inspectors on Alaska Home Inspector Bonds At a Glance: Lowest Cost: $125 per year or $13 per month, based on the home inspector’s credit standing Bond Amount: $10,000 Who Needs It: All individuals and businesses that act as home …
Notary Bond: A Comprehensive Guide This guide provides information for insurance agents to help notaries obtain a Notary bond What is a Notary Bond? Notary bonds are government-required surety bonds that notaries must purchase to receive a notary commission. Notary bonds protect the public from financial harm resulting from violations of official duties committed by …
Receive monthly content on bond updates, new features that can benefit your agency, educational materials, and much more!
