View Full Version : Insured and bonded
04-30-2003, 03:00 PM
I have a quick question, I just got liablitiy insurance. Do i needed to be bonded also what is it mean to be bonded?
05-01-2003, 01:03 AM
In my state you have to be licensed, insured and bonded if you are making any alterations to real property. If you are doing maintenance you don't need to be bonded. A bond protects the consumer if they pay you a bunch of money up front to start a job and you don't complete it. If you do this, then the consumer can go after your bond. In my state a specialty contractor needs a $6,000 bond. This costs me about $150/year. Your state's requirements are probably different.
05-01-2003, 10:04 AM
Try this thread. Its the best explanation I've seen of bonding.
05-02-2003, 04:39 PM
Originally posted by hosejockey2002
In my state a specialty contractor needs a $6,000 bond. This costs me about $150/year. Your state's requirements are probably different.
I think I got hosed. I paid $225 for my bond. I went through my Lia. Ins. agent. Maybe that's why.
05-03-2003, 08:38 PM
Mike- I got mine through my insurance agent also. Maybe he cut me a little slack because we were acquaintences before I did business with him.
RJS Compact Tractor Services
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