Contractor License Bonds in New Mexico

The premium is typically 1-10% of the bond amount, depending on your credit and the state's requirements. For example, a $15,000 bond might cost $150-$1,500 per year.

For most contractor license bonds, you can get a quote and bind coverage the same day. We issue bonds immediately after payment.

A license bond is required to get and maintain your contractor license. Performance, bid, and payment bonds are project-specific bonds required for individual jobs and require full underwriting.

It depends on your state and trade. Many states require subcontractors in certain trades (electrical, plumbing, HVAC) to be licensed and bonded individually, even when working under a general contractor.

Most states require contractor license bonds, but the specific bond amount and requirements vary by state and contractor classification. Select your state to see the bonds we offer.

If a valid claim is filed, the surety company pays the claim up to the bond amount, and you must reimburse the surety. Claims can affect your ability to renew or get new bonds.

Most contractor license bonds are available regardless of credit, though premium rates may be higher for applicants with lower credit scores. We offer same-day approval for most applicants.