1. Start Your Application
2. Receive Your Free Quote
3. Buy Your Surety Bond
How Much Does a Utah Contractor License Bond Cost?
A Utah contractor license bond costs between $100 and $5,000, based on the type of bond required. Bond amounts vary from $1,000 to $50,000. Rather than putting up the full bond amount required, however, you can purchase your bond at a reasonable premium price from a surety company.
We are an authorized Utah surety company that offers the full spectrum of bonds required in the state. Our premium rates are 1% to 10% based on important factors. The factors that influence your specific premium rate are your professional resume, your assets and your credit rating.
We bond 99% of our applicants. An applicant with at least a 700 credit score qualifies for a premium rate between 1% and 3%. The rate for an applicant with a 600 to 699 credit score will range from 3% to 5%. An applicant with a credit score of 599 or below qualifies for a rate between 5% and 10%.
Surety Bond Cost Based on Credit Score |
||||
Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
Utah Contractor License Bond (general contractor classifications except R100) |
$50,000 |
$500 - $1500 |
$1,500 - $2,500 |
$2,500 - $5,000 |
Utah Contractor License Bond (R100 classification) |
$25,000 |
$250 - $750 |
$750 - $1,250 |
$1,250 - $2,500 |
Utah Contractor License Bond (all other classifications) |
$15,000 |
$150 - $450 |
$450 - $750 |
$750 - $1,500 |
Utah Well Driller Bond |
$5,000 |
$100 - $150 |
$150 - $250 |
$250 - $500 |
Cottonwood ID Wastewater Collection System Contractor Bond |
$5,000 |
$100 - $150 |
$150 - $250 |
$250 - $500 |
Springville License and Permit Bond |
$10,000 |
$100 - $300 |
$300 - $500 |
$500 - $1,000 |
How to Get a Utah Contractor License Bond
1. Determine the Surety Bond You Need
In Utah, contractor license and bond requirements are at the state and local levels, based on the contractor’s trade and location. Before applying for your new Utah contractor bond, research the state and local requirements that pertain to you.
For your convenience, several resources are listed below.
Andy recently applied for his new Utah surety bond with us online. Despite having a credit score below 600, Andy instantly got a quote for the bond he needed. Then, he made the payment online and got the bond via email right away. Today, Andy is a thriving contractor in Provo, Utah.
2. Apply for Your Contractor Bond
We have served Utah’s contractor bond needs for over a decade with our simple, fast application and bonding steps. After learning about the contractor bond requirements that pertain to you, complete the short online application. This step usually takes only a few minutes to complete.
3. Get a Quote
After submitting your bond application, you will immediately receive a bond quote. We require more time to review complex applications. Applicants with a more challenging situation will receive a bond quote in 48 hours or less.
4. Buy Your Bond
Paying for your bond to finalize your purchase is simple when you use our online payment portal. After making the payment, you will quickly receive your new contractor bond via email. If requested, we can mail your bond to you as well.
Our dedicated bond experts provide friendly customer service and can assist you as needed. If you run into a challenge or have questions while setting up your bond, please contact us or call us at (877) 514-5146.
Contractor License Bond Requirements in Utah
In Utah, contractors are subject to both state and local licensing and bond requirements. The state-level contractor bonds are established by the Utah Administrative Code Section R156-55a-601. The required bond amount ranges from $15,000 to $50,000 based on the contractor’s classification.
The Utah Department of Commerce Division of Professional Licensing is the authority for these contractor requirements. The obligee is the State of Utah. The bond is continuous, so it remains active unless canceled. The state must receive a 60-day written notice prior to the cancellation date.
There is also a state requirement for a well driller surety bond to construct wells for utilizing or monitoring underground waters. The authority is the Office of the Utah State Engineer, and this entity is also the obligee. The well driller bond amount is $5,000, and it has a fixed expiration date.
The municipalities in Utah with contractor bond requirements are:
Surety Bond |
Bond Amount |
Premium |
$5,000 |
From $100 |
|
Magna Metro Township Improvement Completion Bond |
$1,000 - $100,000 |
From $100 |
$10,000 |
From $100 |
|
$5,000 |
From $100 |
|
$10,000 |
From $100 |
|
$10,000 |
From $100 |
|
$10,000 |
From $100 |
Bonds are required at the time of license application. To continue conducting business lawfully, the contractor must maintain the bond by paying the premium annually. Our bond team will provide instructions for the annual premium payment each year.
How to Get Your Utah Contractor License
The specific requirements for obtaining a Utah contractor license vary based on the type of license needed. Our bond experts are happy to answer your questions about how to get a Utah contractor license. A few of the common requirements for many types of contractor licenses are:
- Application
- Surety bond
- Proof of liability insurance
- Application fee
- Professional experience
- Pre-license training and proof of completion
- Business entity documentation for an LLC, corporation or assumed business name
- Workers' compensation insurance, if applicable
To learn about the specific requirements for obtaining the Utah contractor license bond you need, contact the appropriate licensing authority. For information about general contractors license bond, contact:
Division of Professional Licensing
State of Utah Department of Commerce
P.O. Box 146741
Salt Lake City, UT 84114-6741
Phone: (801) 530-6628
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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!