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California Contractors License Bond
Having trouble with your California contractors license bond? Has your renewal rate risen substantially? Not to worry. You’ll find CaliforniaContractorBonds.com has greatly simplified the bonding process by providing instant quotes on low priced contractor license bonds without having to fill out dozens of applications. Conveniently located in El Dorado Hills just a short distance from the Contractors State License Board in Sacramento, we understand the needs and challenges confronting contractors in today’s economy. Our objective is to make your bonding experience as simple and pain free as possible. It’s our policy to charge no additional setup or broker fee’s for our service. And don’t worry, despite our low rates, you’ll still receive industry leading service from each of our license bond professionals.
Why CCB For Your California Contractors License Bond?
Industry Leading Bond Rates
Easy Payment Plans Available
Fast, Safe & Secure Bonding Process
Multiple Bond Quotes From Top Surety’s
Instant Electronic Filing of Your Bond With The CSLB
100% Satisfaction Guaranteed
We’re so confident we can save you money on your license bond that, if after getting a quote from us you find your renewal rate is lower than ours, simply fax or email us a copy of your license bond renewal letter from your current surety. If we can’t find a way to reduce your bond expense, we’ll send you a $10 Home Depot gift card just for the opportunity to provide you a quote. Contractors must provide a copy of their license bond renewal to be eligible for this offer. Offer not valid to contractors whose bond has been non-renewed by their current/prior surety, or quotes from surety’s/agencies from which you do not have an existing bond.
Does CCB.com Offer Payment Plans On Their Surety Bonds?
Yes, we do offer very flexible payment plans on most license bond programs. Our low down payment, easy monthly payment options are very popular with many contractors. Payment plans vary based upon quoted bond premiums.
What Is The Bond Amount For a California State Contractor’s License Bond?
California contractor’s license bonds are currently issued for $12,500, although this amount is subject to change. Over time, the contractor’s license board generally increases the amount required for a license bond.
Why Do California Contractor’s License Bond Rates Fluctuate So Much?
Some contractor’s may experience dramatic rate changes from year to year if there is a major change in their credit profile. Fortunately, we do have many solutions to bring rates down.
The cause of the significant rate changes has to do with the fact that contractor bonds are fully indemnified, meaning if a bond is paid out by the surety, the contractor is responsible for reimbursing the bond company the amount of the claim. Contractor bonds are also unsecured, so if a contractor has poor credit, the surety has little chance of being indemnified by the contractor and must charge higher bond premiums to compensate for the significantly higher risk.
Does CCB.com File My Bond With The Contractor’s State License Board?
Yes, CCB.com will electronically file your license bond with the CSLB upon purchase. You should see your license bond update prior to your renewal date on the CSLB website. The CSLB manually processes all license updates so you may want to check their schedule to see what renewal dates they are currently working on.
What Contractor’s Are Required To Have A License Bond On File?
According to section 7071.6 of the California Business and Professions code, all licensed contractor’s in the state are required to maintain a $12,500 license bond on file with the Contractors State License Board as a condition for having an active license. If a bond lapses or cancels, the CSLB will immediately suspend the offending contractor’s license.
What Are CCB’s Rates For a California Contractors License Bond?
We offer among the most competitive rates in the industry for California contractor bonds with rates starting as low as $89 on a one year bond for contractors with good credit. CCB also offer multi-year bonds with significant discounts as well.
Can I Still Get A Competitive Rate On My License Bond If I Have Bad Credit?
Challenging economic times have left many contractors that normally have stellar credit to be grappled with what for many will be a temporarily blemished credit history. Fortunately, CCB has among the most competitive rates in the industry for contractors with poor credit and financing is available on approved applications. While not all credit profiles are acceptable, the vast majority will be and typically at very competitive rates.