Roofing Contractors Bond
Serving Dallas, Fort Worth, Carrollton, Arlington, Austin, El Paso, Houston, San Antonio, Irving, Plano, Grand Prairie and throughout Texas
In many states, a roofing contractor bond is required in order to be a licensed roofer. Regulations differ by state. Even in states where bonding is not required, it can be advantageous for roofing contractors.
Roofing contractor bonds protect customers from roofers who do incomplete, illegal, or erroneous work. In a sense, roofing contractor bonds are a type of insurance for the customer that work will be properly completed.
How Roofing Contractor Bonds Work
Roofing contractor bonds are a contract between the customer, the contractor, and the surety. The surety puts up a bond amount depending on the job. In exchange, the contractor pays a premium to the surety. In the event of a dispute and the contractor being found at fault, the surety company steps in and makes payments towards the customer as recompense.
Essentially, these bonds serve to protect customers from being ripped off by contractors. It transfers risk from customers to the surety who do a full evaluation on contractors before deciding to stand behind them.
How Prices Are Calculated
The surety and contractor must agree on the total value of the bond which is commensurate to the size and scale of the project. Premiums are derived from this amount and are paid regularly. Given the risk taken on by the surety, there is a detailed evaluation of the roofer before agreeing to issue the bond. This includes evaluating the project, financial statements, claim history, credit score, and experience. Premiums can differ by large amounts depending on the surety’s evaluation of the contractor.
How To Purchase A Roofing Contractor Bond
At TMD Surety Bonds, we work with multiple providers to help you find the best roofing contractor bond. Due to our experience, volume, and relationships, we will find the best prices.
We only work with the most reputable surety providers and have simplified the entire process so you can focus on what matters - your business. We are known for our exceptional customer service and fast turn around time.