1. Start Your Application
2. Receive Your Free Quote
3. Buy Your Surety Bond
How Much Does a Montana Contractor License Bond Cost?
The state of Montana only requires a contractor bond if you’re doing well water work within the state. As an individual contractor, the bond must be $4,000. If you have a contractor firm, the bond must be $10,000. A well water contractor bond can cost at least $100, depending on factors like your credit score.
Other cities in Montana have their own contractor bond requirements. Before starting any work in the state, you should double-check whether you must get a bond first. For example, the city of Missoula requires that you need a $20,000 bond for excavation work, $10,000 for sidewalk and paving projects or $3,000 for gas fitting.
Premium costs are often around 1% to 3% of the total bond amount. Here’s a table breaking down different costs based on Montana contractor bond types and your credit score.
Surety Bond Cost Based on Credit Score |
||||
Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
Montana Well Water Contractor Bond |
$4,000 |
$100 - $120 |
$120 - $200 |
$200 - $400 |
Montana Well Water Contractor Bond (Corporation or Firm) |
$10,000 |
$100 - $300 |
$300 - $500 |
$500 - $1000 |
How to Get a Contractor License Bond in Montana
Determine the Surety Bond You Need
To determine the Montana surety bond you need, consider factors such as your industry, location, and specific requirements set by the obligee (the party requiring the bond). Research the bond types available and their respective purposes. Consulting with a reputable surety bond provider or legal expert can also help ensure you obtain the appropriate bond for your needs.
We recently helped a contractor in Billings get bonded before they took on a sewer contract job. He wasn’t sure which bond was required or the cost, but we were able to help get the right bond at a fantastic rate.
2. Submit a Bond Application
Lance Surety Bonds uses a simple online application to process your bond request. Just fill in some basic details about yourself, your business, and the type of bond you need.
3. Get a Bond Quote
Typically, our bond premium quotes are fast, meaning you can pay your bond the same day. However, the quote may take up to 24 or 48 hours in some situations. We ensure that you’re getting the best quote possible.
4. Pay the Bond Premium
Once you pay your bond premium, you can show proof of bonding to the obligee (e.g., the city requiring the bond). Most bonds are valid for 12 months, but it depends on the city and its licensing requirements.
If you have any questions about your Montana contractor license bond, contact us or call us at (877) 514-5146 to speak with our bonding experts.
Contractor License Bond Requirements in Montana
The State of Montana only requires a contractor bond if you’re doing water well work within the state. For other projects, only a handful of cities in Montana require contractor license bonds.
Here are the different bond requirements and amounts:
Surety Bond |
Bond Amount |
Premium |
$4,000 |
From $100 |
|
$10,000 |
From $100 |
|
Missoula Contractor Bond |
$3,000 |
From $100 |
Missoula Contractor Bond |
$10,000 |
From $100 |
Missoula Contractor Bond |
$20,000 |
From $200 |
$5,000 |
From $100 |
|
City of Big Timber Monument Setting Bond |
$10,000 |
From $100 |
$10,000 |
From $100 |
|
$25,000 |
From $250 |
|
$10,000 |
From $100 |
How to Get Your Montana Contractor License
One of the first steps to get your Montana contractor license is to determine which entity type you are. Independent contractors can work solo and be exempt from worker’s compensation insurance rules. If you have a business with employees or partners, you must register as a “construction contractor,” meaning you must have worker’s compensation insurance.
As a construction contractor, you must submit documents and pay the processing fee. The state only requires a bond for water well contractor jobs, but you may need to get other bonds if you’re working in a city that requires it.
The state of Montana also requires contractors to register with the Montana Department of Labor and Industry. Construction contractors must register to prove they abide by Montana Workers’ Compensation law. If you’re an independent contractor, you must apply for a waiver instead.
That said, cities like Missoula and Billings require contractors to be licensed and bonded before doing certain types of work. Make sure to check with each city before starting a job to avoid potential legal complications or fines.
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What Our Clients Have To Say?
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!