Nevada Contractor License Bond
What is a Nevada contractor license bond?
Applicants for the following general and specialty contractor classifications in Nevada may need a license bond:
- Classification A: General engineering
- Classification A: Subclassifications
- Classification AB: General building and general engineering
- Classification B: General building
- Classification B: Subclassifications
- Classification C1 to C42: Various types of specialty contractors
These license bonds ensure that the contractor faithfully complies with the rules stated in Chapter 624 of the Nevada Revised Statutes. They also guarantee that all work is completed during the specified period.
Learn more about how contractor license bonds work in our complete guide.
Get Your Nevada Contractor License Bond:
Nevada Contractor License Bond Costs
The Nevada State Contractors Board determines the bond amount during the license approval period. Bond amounts range from $1,000 to $500,000 and are always for a two-year term. Bond amounts depend on the following:
- Type of license requested
- Monetary limit granted
- The applicant’s personal and business financials
- The applicant’s experience and character
The bond premium is the amount a contractor must pay to obtain their surety bond. The main factor in determining the premium is the applicant’s credit score. Other components of the applicant’s personal finances may also be considered. Those with excellent credit may pay around 1%-3% of the bond amount. Those with poorer credit may pay closer to 5%.
Frequently Asked Questions
What if I have a very low credit score?
Many applicants can still get bonded with poor credit but for a higher premium given the higher bonding risk. Raising your credit score over the two-year bond term may help decrease your next premium when it comes time to renew. Reach out to ZipBonds for more information on how to get bonded with a low credit score.
How do I obtain my contractor’s license?
Here are the main requirements for obtaining your Nevada contractor’s license:
- Four years of experience in the contractor classification, up to three of which may be in the form of an approved education or apprenticeship program
- Obtaining a Nevada state business license through the state’s Business Portal
- Filling out the Nevada Contractors License Application Form
- Paying a license application fee of $200-$1,000, depending on your classification
Find the complete list of requirements for a Nevada contractor license.
Get Your Contractor License Bond in Nevada
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.