Hunter Insurance Blog

The Dos and Dont’s of Advertising Your Contractor License, Bonds and Insurance

You’ve probably heard it before: if you have a contractor license, bonds, and insurance coverage, let people know about it! In a digital age where you can put up a website and promote your business on a dozen different social media accounts all in one day, you are missing out if you’re not advertising your business. If you want to use your status as a licensed and bonded contractor to your advantage to get more work, there are some right (and wrong) ways to proceed. Here are some Do’s and Don’ts ...

How Much Does a Contractor License Bond Cost?

Do you have your contractor’s license bond yet? If not, you’ll need one soon! In many states (including California!), you can’t work as a licensed contractor without one. Becoming bonded doesn’t have to be inconvenient or expensive. For more information on how affordable your bond could be, read on. How Much Your Bond Needs To Cover If your state license board requires you to have a bond, make sure you know how much you need to be bonded for. Live in the Golden State? The required bond amount in California is ...

Contractor License Bonds FAQs and Facts

Contractor license bonds can be confusing if you’re new to the business, but they don’t have to be. We’ve got the answers to your most pressing license bond questions. What is a license bond? Do you really need one? Isn’t a bond just the same thing as insurance? Read on to find out what exactly a license bond is and how to get yours. Contractor License Bonds 101- Key Terms Claim: A demand made by the obligee for compensation for a loss resulting from the principal’s failure to fulfill contractual duties ...

How Does a Contractor License Bond Claim Work?

If surety bonds confuse you, you’re not alone. There are many different types of surety bonds, and different reasons people might make a claim against them. So what do you do if someone makes a claim against your bond? Read on for more information on the claims process, and discover how a claim could impact your business. When a Claim Is Filed Against Your Contractor License Bond… One type of surety bond is required by law in most states: a contractor license bond. A contractor license bond, like other surety bonds, is like ...

Understanding Contractor License Bond Indemnity Agreements

When you purchase a contractor license bond in California, you will sign an indemnity agreement as part of the bonding process. If you are in the process of getting a license or just beginning to research license bonds, understanding the indemnity agreement is crucial. When you sign the agreement, you are signing a legally binding contract that could cost you in the event of a claim. What is a Contractor License Bond Indemnity Agreement? When you sign an indemnity agreement, you are agreeing to repay a surety company if they have ...

Does a Contractor License Bond Guarantee a Contract?

A contractor license bond is often required to get a contractor license issued. But can that bond be put to work for other purposes, such as guaranteeing a contract? The short answer is no. License bonds and contract bonds serve two different purposes. Keep reading to find out the difference between the two, and which contract bonds are likely to help you win a bid, get the job, and build your business. Contractor License Bonds vs Contract Bonds: What’s the Difference? A contractor license bond is a guarantee that you will do your ...

Contractor License Bond Basics: Just the Facts

Do you need a contractor license bond? If you are interested in learning more about license bonds, there is a good chance you’ve heard through the grapevine that you need to carry one. Before you apply for your own bond, you may have a few questions about what a bond is, why you need one, and how your license bond works. Here’s the answers to the most frequently asked questions contractors have about license bonds, and the plain facts you need to know.   What is a Contractor License Bond? A license bond is ...

When Should You Buy Your Contractor License Bonds?

What do you need to build a successful career as a contractor? In addition to the right tools, equipment, skillset, and knowledge of your trade, a contractor license and bond are critical to your business. Your contractor license shows that you know what you’re doing, and are a professional in your field. Surety bonds are a security deposit that you place with your Contractors State License Board that promise you will comply with your state license laws. Just like the name implies, a license bond and your contractor license go hand-in-hand. When ...

What States Require a Contractor License Bond

Getting your contractor license comes means checking off a long list of state requirements that can include an official application, an examination, and in most states, getting a contractor license bond. If you have any questions about your license bond requirements, here are the basics that you need to know, and a list of states which require one. A contractor license bonds is a guarantee as a contractor that you will follow the rules and regulations of your specific contractor license. A license bond is a three-party, legally enforceable contract between: ...

What's the Fastest Way to Get a Contractor License Bond?

When you are a contractor, license bonds are an unavoidable part of your business. If you plan on having your license issued, renewed, reactivated, or maintained, then you are going to need a license bond. License bonds are an agreement with a surety company that you will work according to certain regulations and adhere to contractor license laws. Why Contractors Need License Bonds A contractor bond protects you, the agency or company who has hired you, and the company who issued the bond. If you fail to meet the terms of your ...