Wisconsin Contractor Bond

There is a licensing and bonding requirement for Wisconsin dwelling contractors on the state level. They have to present a bond to the Wisconsin Department of Safety and Professional Services. The amount is determined on a case-by-case basis.

Some cities across Wisconsin also require contractors to obtain a bond. These include LaCrosse, Milwaukee, Oshkosh, and Sheboygan. Make sure to check with your local authorities what their licensing criteria are, and whether you need to get bonded.

The price you have to pay for your Wisconsin contractor license bond will depend on the bond amount required by the state or local licensing bodies. The amounts can also vary from applicant to applicant, and you can see some of them in the table below.

Whatever the requirement is, the bond premium is only a fraction of this bond amount. The typical percentages are in the range of 1%-5%, if your finances are in good shape. For example, for a $15,000 bond requirement, you may need to cover only $150-$750 premium.

How exactly is your bond price is formulated? It’s done largely on the basis of your personal and business financials. When you apply with a surety, it considers your personal credit score, business finances, assets and liquidity, and even professional experience. The goal of this examination is to assess the risk of getting you bonded. If you are considered a solid applicant, you can expect to pay less for your bond.

If you’d like to learn more details about the formulation of your bond cost, make sure to check our surety bond cost page.

Struggling with problematic finances? Lance Surety Bonds’ Bad Credit Surety Bonds program may be just the right solution for you. It’s designed to help contractors with low credit scores, tax liens, bankruptcies, or civil judgements get the bond they need.

Since the bonding risk is higher, your bond premium is likely to be in the range of 5% to 10%. Still, we’ll make sure to select the best bonding options for your circumstances. We can do that because we forge close partnerships with a number of A-rated, T-listed surety companies, and can shop around for you.

Getting started with your bonding is simple. You can apply online and get a free Wisconsin contractor bond quote. Once you complete the full application form and provide all the paperwork, we’ll deliver your exact bond quote in no time.

Check out our How to Get Bonded page for all the facts on the bonding process if you need more details.

For any further questions, we’re here to help. Give us a call at (877) 514-5146 to get assistance.

The purpose of contractor bonds is to protect your customers and the authorities issuing your license from any fraud and misuse on your side. This means that they do not safeguard the interests of your company like insurance does.

If you transgress from applicable rules, you can face a claim on your bond. Affected parties can get a compensation up to the penal sum of your bond if the claim is proven. Your surety is in charge of covering the costs initially. According to the bond indemnity agreement, however, you have to repay it in full. This means that bond claims can cause serious financial harm to your contractorship. The wisest course of action is to avoid them completely.

There is a statewide license for dwelling contractors in Wisconsin. You’ll have to undergo the licensing procedure set by the Wisconsin Department of Safety and Professional Services, and meet all Wisconsin contractor license requirements. They include providing business papers, financial documents, proof of professional experience, insurance policy, and a $25,000 bond.

For your city contractor license requirements, the local licensing bodies will inform you what criteria you need to meet to start your legal operation.