Hempstead, NY, Contractor Bonds
Who needs a contractor bond in Hempstead, New York?
The following contractors working in Hempstead must obtain a surety bond.
- Plumbing: $2,000 bond
- Right-of-Way: $5,000 bond
- Sewer & Drain Opening: $5,000 bond
- Building: The Town Board will determine the bond amount
Each contractor must also provide the following:
- Payment for a $300 license fee
- General liability insurance: $1,000,000 for bodily injury and property damage, $2,000,000 general aggregate
- A permit, if needed
Complete contractor requirements are listed in the Hempstead municipal code.
Call ZipBonds at (888) 435-4191 to get bonded as quickly as possible. You can also check out our page on New York contractor bonds for state-specific information.
Get Your Hempstead Contractor Bond:
How do contractor bonds work?
Contractor license bonds ensure that contractors meet all applicable regulations and codes of their obligee (the Town of Hempstead). The bond is a safeguard for clients.
The contractor acts as the principal in the bond contract. The bond guarantees a client compensation if the contractor breaks licensing and permit laws that result in damages. The surety may cover any costs to settle a bond claim upfront, but the contractor is ultimately responsible for paying back the surety over time.
To acquire their bond, contractors don’t need to pay the full amount. They will instead pay a premium, a small percentage of the bond amount. ZipBonds often issues these bonds quickly for $100.
Frequently Asked Questions
Will my bond be in effect indefinitely?
Bond terms often last for a year before needing renewal. Your bond renewal date will be listed on the bond form. You must keep your bond in effect for the entire length of the project(s) you are bonded for.
What if a claim exceeds my bond amount?
Compensation for a claim cannot exceed a bond’s total value. However, claimants may seek other forms of payment, such as through legal action.
Avoiding claims by consistently working professionally and answering client complaints immediately is the best course of action.
Apply for your Contractor Bond in Hempstead, NY
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.