Various types of contractors are required to post a surety bond as part of the licensing process to operate in Connecticut. Some cities and counties in the State of Connecticut require their own specific surety bonds. Below are the required bond amounts for popular Connecticut contractor license bonds:
The surety company issuing the bond determines your premium rate, which is the percentage of the total bond amount you pay as the premium. During the application process, the surety company evaluates your personal credit, financial statements, industry experience, and licensing history.
EZ Surety can issue premiums for Connecticut contractor license bonds for as low as 1% of the required bond amount for applicants with standard credit. If your credit is below average, we can still offer a competitive rate for your contractors license bond.
Contractor license bonds hold licensed contractors accountable for the quality of their work and protect the public from damages they’ve incurred due to the contractor’s violation of licensing laws.
When the surety company issues the bond, they provide a financial guarantee to the local municipality that the contractor will comply with the regulations set forth in the contractor license. If the contractor violates these regulations, causing a loss to the consumer, the consumer can file a claim against the bond.
If the claim is valid, the surety company will cover the costs to repair the damage up to the amount of the bond. The contractor is then liable to reimburse the surety company for all damages paid.
The State of Connecticut has two classifications of general contractors:
Minor contractors do not require a license but they are required to register with the Connecticut Department of Consumer Protection.
Below is a brief overview of the licensing requirements for major contractors:
If you have further questions regarding the licensing process, you can always visit the Department of Consumer Protection contractor application page.