The Importance Of A Contractor’s Bond
In the state of California, it is mandatory for every contractor to have a license bond which is also called contractor’s bond or contractor’s license bond. It involves a contract or agreement wherein a company assures that the contractor to whom they have issued the license will adhere to the rules and regulations of the state. This is part of the law in California, and so, if you have a project in this state, it is very important that you have a contractors insurance.
Why is a Contractor’s Bond Important?
A contractor’s bond is quite important if you are accepting contracting work in California. Failure to acquire one would mean suspension of your license. Through a contractor bond you will also be able to get more business and it will also serve as an insurance.
Suspension of License
In California, they have a so-called California State License Board that keeps track those contractors who have contractor bonds as well as those who do not have. In case you decide to cancel your bond, the surety company will have to report the cancellation to CSLB. You can no longer perform contracting works in the said state. Otherwise, you will face penalties and serious charges.
If you are doing contracting jobs in California, homeowners that you are working with have the right to know if you have a contractor’s license bond. This is a law, and so, you are required to disclose the truth to them. If you have a license bond, homeowners would feel more secured. Hence, you will have access to more business.
How to get a Contractor’s Insurance?
Contractor Bond Quote, with the website http://contractorbondquote.com, is a company that you can utilize if you are looking into getting a license bond or contractor’s insurance. You can just call them or fill out the form on their website to get a quote. They are offering contractor surety bonds as well as general liability insurance at a very affordable cost. In fact, they have the cheapest rate available in the market. With them, you can be sure that you will be able to get the best quote. Hence, it enables you to save your money. They can also guarantee that any personal information that you disclose to them will be treated with high confidentiality and security. Rest assured that no one else will be able to get your data as they do not share their clients information to anyone.