Who needs a contractor permit bond in Hendersonville, Tennessee?
All Hendersonville contractors and subcontractors must post a permit bond. The bond amount will be based on the value and/or type of work performed.
- Contracts or bids under $25,000: $10,000 bond
- Contractors or bids of $25,000 or more: $50,000 bond
- All plumbing and/or mechanical contracts or bids: $40,000 bond
- All house moving contracts or bids: $50,000 bond
- Proof of workman’s compensation insurance or proof of exemption
- A state license or state contractor’s license (if applicable – see bullet 2 on this page)
Get Your Hendersonville Contractor Bond:
How do contractor bonds work?
A contractor bond guarantees that clients receive quality work from hired contractors. By signing the bond agreement, contractors agree to work by the standards and regulations of their obligee (City of Hendersonville). Clients may file a claim if a contractor breaks their surety contract. The surety will initially pay out a claim if approved, but contractors are ultimately responsible for paying the surety back in full for all associated costs. You will pay a premium, or a percentage of the bond amount, to acquire your bond. ZipBonds can often get you bonded immediately, and premiums start as low as $100 a year.
Frequently Asked Questions
How long will my bond cover my work?
Your initial bond will typically last for the calendar year you post it. You must then renew your bond each consecutive year for the duration of your project. Keep your bond updated to avoid fines and compliance issues in your location.
What if a claim exceeds my bond amount?
The bond amount is the highest dollar value that a c can receive from a bonded contractor. However, if work-related damages exceed that amount, clients may seek other forms of compensation. As a contractor, you can typically avoid claims by performing your work with excellence and communicating well with clients.
Apply for Your Contractor Bond in Hendersonville, TN
ZipBonds offers the fastest and most secure option for getting bonded. Our all-digital platform is intuitive and straightforward. Apply online, email support@zipbonds.com or call 888.435.4191 to speak with an agent directly.
About ZipBonds.com
Founders Ryan Swalve and Zach Mefferd formed the vision for ZipBonds.com when they realized how overly complicated it was to help clients place surety. The frustration of being unable to incorporate the technology they’d used in other insurance-focused projects left them thinking “there has to be a better way.”
Fast forward a couple of years, and that better way is the impetus of everything we do at ZipBonds. We constantly look for innovative ways to improve the bonding process for our clients and agents. Our team comprises individuals who understand all angles of surety – for companies, agencies, and individuals. Incorporating everyone’s point of view to improve the process while simultaneously integrating cutting-edge technology is what sets our business apart.