Contractor Bonds in Wisconsin
What is a bond?
Many Wisconsin contractors and businesses will need a bond at some point in time. But what is a bond? In the simplest terms a bond is like a loan from the bank. It’s money that is basically set aside of you just in case you need to use it to fulfill a contract, promise or obligations. The cost of the bond is like interest and the used bond money must be paid back.
There are many types of bonds that Wisconsin contractors might need. Some common bonds our insurance agency writes are: Bid Bond, Payment Bond, Performance Bond, Maintenance Bond, Contractor License Bond, Electrical Bond, Master Plumber Bond, Mechanical Bond, Janitorial Bond, Business Services Bond & ERISA Bonds.
What’s needed to receive a bond quote?
We will need to know what type of bond you are looking for and the amount. Who is requiring the bond the state of Wisconsin or other third party? Bonds are often based on credit history, because they must be repaid if used. Information is needed on any credit problems, bankruptcies, etc. The more information available the batter chances of finding the best rates for your situation.
How much does a Wisconsin contractor bond cost?
The cost can really vary due to all the different contractor classifications in Wisconsin and various city requirements. Double check the amount of bond required and if they have their own bond form to be completed. Some of the smaller bonds are $100-$150 per year.
Let us help you with your contractor bond in Wisconsin
Let’s discuss your Wisconsin bonding needs. We are bonding experts and will make getting bonded painless and easy. Many agents don’t like and don’t know much about bonds. We are different, we love helping with bonds and pride ourselves on completing them properly the first time. Don’t have your bond rejected! Use our bonding services. Read our BIO, then simply pick up the phone or complete our quick quote form.