Are Landscape Contractors Required To Be Bonded?
Yes. In particular states, contractors who want to perform landscape work are required to obtain a Landscape Contractor License Surety Bond as part of their licensing requirements.
What is a Landscape Contractor License Bond?
These surety bonds ensure that contractors abide by applicable state rules and regulations while performing their duties in accordance with licensing guidelines. They serve as protection for the general public against unlawful actions and fraudulent agreements of service at the hands of their contractor.
Which States Require Landscape Contractor License Surety Bonds?
Pacific Surety proudly offers Landscape Contractor License Surety Bonds in the following states:
If you do not see your state listed, please contact us and our knowledgeable underwriters will assist you.
What Is The Bond Amount For A Landscape Contractor License Surety Bond?
Amounts for Landscape Contractor License Bonds vary and are set by the local rules and statutes regulating the industry. Therefore, bond amounts and requirements will fluctuate from bond to bond. Please contact us with specific questions, and our knowledgeable underwriting staff will assist you.
How Much Does A Landscape Contractor License Surety Bond Cost?
Pricing for Landscape Contractor License Bonds varies, and your premium will be based on the following factors:
- State the bond is required in
- Amount of the bond
- Term length of the bond
- Personal credit for all owners with at least a 10% ownership stake in the business
Individuals with good credit can expect to pay between 1%-5% of the bond amount. Qualified applicants could pay as little as $200 annually for a $20,000 Landscape Contractor License Surety Bond. To find out how much your bond is going to cost, please complete our online application for your free, no obligation price quote.
Can I Get A Landscape Contractor License Bond With Bad Credit?
Pacific Surety offers a wide-range of approvals, regardless of credit, for Landscape Contractor License Surety Bonds. With our strong surety relationships, we have the ability to approve 99% of applicants, regardless of how bad their credit is. Our knowledgeable underwriting staff will work with you to ensure you receive the lowest possible pricing for your bond. Applicants with substandard credit can expect to pay 5% to 10% of the bond amount in premium. To see what rate you will qualify for, please complete our online application for your free, no obligation price quote.
How Do I Purchase A License Bond For My Landscaping Business?
The first step is to complete our quick online application for your free, no obligation bond quote. Submission takes only five minutes, and our underwriting staff will be in contact with you within a couple of hours with pricing. If you prefer to speak with our knowledgeable staff, please call 1-866-722-7873 and one of our Underwriters will assist you in applying for your bond.
After you receive approval, you must sign an indemnity agreement with the surety and provide payment for your bond premium. In most cases, we can issue bonds the same day we receive your signed documents and payment.
Who Do Landscape Contractor Bonds Protect?
Unlike insurance, which protects your business, Landscape Contractor License Surety Bonds protect your customers. If the principal’s (landscape contractor) actions cause any damage, a claim can be filed with the surety company for relief. If the claim is valid, the surety will pay up to the penal sum of the bond to resolve the claim. The principal is then required to reimburse the surety for all monies paid out, including any attorney fees incurred by the surety in the defense of the claim.
Claims can be detrimental to your business. Not only do they cause financial harm, they make it very difficult, if not impossible, to get bonded again.