Who needs a contractor license bond in Coon Rapids, MN?
Sign contractors must obtain a $3,000 City of Coon Rapids surety bond if they don’t already have a State of Minnesota sign contractor bond ($8,000). Additionally, all permanent sign work must be performed by a sign contractor licensed with the City. A $65 application fee and proof of insurance must also be submitted with the license application.
Other contractors in Coon Rapids may be subject to contractor license bond requirements set by the State of Minnesota. If you’re unsure if any of these requirements apply to you, call us at (888) 435-4191 to discuss your needs with an agent.
Get Your Coon Rapids Contractor License Bond:
How does a contractor license bond work?
A contractor license bond guarantees that contractors fulfill their obligations to clients. When contractors sign the bond agreement, they promise to uphold the standards and regulations of the obligee (the City of Coon Rapids). In cases of faulty or insufficient contractor work, clients can submit a claim to cover any damages. The surety initially pays out claims, but contractors are ultimately responsible for repaying them in full.
You don’t have to pay the full bond to obtain your contractor license bond. Instead, you’ll pay a premium, which is a small percentage of the bond. ZipBonds offers many contractor bonds for just $100 and can issue them instantly – without pulling credit information.
Frequently Asked Questions
Contractors usually only need one contractor license bond to obtain a license or permit to work in a specific area. The requirements set forth by your municipality often cover everything you need to work in that city or county. However, sometimes you may need both local and state bonds to operate legally. Read your specific municipality requirements carefully to ensure you’re following all standards. If unsure, call ZipBonds at (888) 435-4191. We’re always happy to help!
Typically, a bond is active for one year and must be renewed annually by a specific date. Renew your bond by the date listed on your bond form each year to remain in good standing.
Apply for Your Contractor Bond in Coon Rapids, MN
ZipBonds offers the fastest and most secure option for getting bonded. Our all-digital platform is intuitive and straightforward. Apply online, email firstname.lastname@example.org or call 888.435.4191 to speak with an agent directly.
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.