Minnesota Surety Bond Cost
Surety Bond Cost. Many Minnesota businesses need a bond for a license, a job, a project, or a city. We write Minnesota surety and fidelity bonds and can tell you your surety bond cost in just a few minutes. Some of the types of bonds we write are bid bonds, payment bonds, performance bonds, maintenance bonds, subdivision bonds, and site improvement bonds. We also write contractors license bonds like mechanical bonds, master plumber bonds, electrical bonds, roofing bonds. Our goal is to make it easy and painless, we promise. Our MN insurance agents will issue your bond correctly, the first time. If you are looking for a different type of bond not listed here, try our sister website www.suretybondsmn.com.
What is a Surety Bond?
Well, let’s start out with what a bond is. A bond is like a loan from a bank. Money is set aside to fulfill a contract, promise, or obligations. If the bond is used, the money must be paid back. The cost of the bond is like interest for setting the money aside, for their services, and the risk of it not being repaid. A surety bond is simply an agreement between three people. A principle (that would be you), the bonding company (a surety / the insurance company), and the obligee (entity requiring the bond). Generally speaking, surety bonds will protect the obligee from fraud, abuse, and penalties.
Bonds are very common in the construction industry. An example would be a contractor who is hired to do complete a job per a contract. If they don’t, then the bonding company pays to complete the job and cover any damages, penalties, or other associated costs.
Contact Us for Quote
Tell us about your Minnesota business and bonding needs, we are listening. We have the exact bond you are looking for. Do yourself a favor and call 952-222-80735 right now or use the quick quote form on this page. Request your Minnesota surety bond quote now! You will be happy you did.
P.S. If you haven’t gotten a quote on your general liability yet, just visit the general liability insurance quote page.
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20960 Holyoke Ave PO Box 1177 Lakeville, MN 55044, USA
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Minnesota General Contractors Insurance.com is a service of Insuring Minnesota. Rick McIntosh and his dedicated team of highly qualified professionals is committed to finding the best coverages and prices for your Minnesota general contractor’s insurance. We give free instant MN contractors insurance quotes, and fast online MN contractor general liability insurance quotes for all Minnesota contractors. We provide Minnesota construction companies, contractors general liability insurance, commercial auto insurance, workers compensation insurance and surety bonds. Some of the keywords which can be used to find our services include: Minnesota general contractors insurance, MN contractor insurance, Minnesota contractor liability insurance, MN contractor liability insurance, MN contractor liability insurance quotes, low cost Minnesota contractor’s general liability insurance quotes, contractor insurance for MN contractors, cheap MN contractor comprehensive general liability insurance, low cost MN contractor liability insurance. Contractors in Minnetonka, Apple Valley, St. Louis Park, Mankato and Edina love our services. Not to mention Farmington, Hastings, Rosemount, Prior Lake & West St. Paul. Get a Free online Minnesota Contractor Liability Insurance Quote today!