Plumber Contractor Bond
As part of the licensing process, plumbers across the country need to post a plumbing bond. Depending on the plumber's location, the bond may be required by state, county, or city authorities.
What is a Plumber Contractor Bond?
A plumber contractor bond ensures that plumbers will adhere to all applicable laws and professional standards, protecting customers and the authority that issued the plumbing license.
Who needs Plumbing Contractor Bonds?
Typically, plumbers are required to register or get licensed with their city, county, or state in order to be in business. In many cases, getting a plumber’s license requires posting what can be called a plumbing bond, plumber license bond, or plumber contractor bond.
The following states require plumbers to have a bond in order to get their license:
How much does a Plumber Contractor Bond cost?
While the authority issuing your license sets the amount of the bond, you will only pay a portion of that amount. The percentage you pay is the bond premium and can range from 1% to 5% of the amount of the bond.
Your premium you pay will depend on your financial stability. The surety underwriter will examine your personal and business finances, like your personal credit score and business assets. If the underwriter determines that the risk to bond you is low, your premium will be low.
Can you get a Plumbing Contractor Bond with bad credit?
Brunswick Companies has a large network of surety companies that makes it easier for our bond advisors to find the right fit you. We can still help you get bonded even if you have:
- bad credit,
- bankruptcies, or
- civil judgements.
Under such circumstances, though, you can expect your premium to be in the range of 5% to 10% to compensate for the additional risk you pose.
How do you get a Plumber Contractor Bond?
To begin, complete the quote form online. One of our bond advisors will receive your information and contact you quickly. They can answer all your questions about bonding and help you choose the options that are right for you and your business.