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  • insurance and bonding

    I am thinking about getting bonded and insured so I can bid on commercial contracts. My question is how much should I expect to pay and how do I need to go about getting bonded and insured?

  • #2
    Here is the podcast Tom took part in that discussed bonds and insurance.
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    • #3
      Choice, I recently added a 2 million liability policy to my company and I am paying about 650/year. Covers mowers also. I am not sure about bonding however. Most people I have talked to say the 2 million is plenty.

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      • #4
        bonding is different... usually its for municipal work, Its like a guarentee that you will do the work. You usually put 10% of the contract price into an account... if you dont perform the work, then you lose that money. And you have to put that up before you bid... If you dont get the job, the money is tied up for at least 30 days (i believe)... It kinda sucks...

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