Illinois Surety Bonds

Surety Bond Requirements in IL

Various regulatory authorities in Illinois require many professionals, contract workers, and companies to be bonded before they can conduct business in the state. You must have a proper surety bond in place if you are an appraisal management company (AMC), motor vehicle dealer, plumbing contractor, roofing contractor, or residential mortgage broker.

Most Illinois surety bonds have a fixed liability amount, while some vary. For example, residential mortgage brokers may need a license bond in the amount of $20,000, $50,000, $75,000, $100,000, or $150,000. These bond amounts (also knows as the penal sum) are determined by the state regulator based on the broker’s volume of loan applications in the previous calendar year.

If you need a surety bond to comply with Illinois bonding regulations, we can help. NNA Surety Bonds has been providing policies to businesses across the United States since 1957.

We offer the following surety bonds in the state of Illinois:

Appraisal Management Company (AMC) Bond

You’ll need this $25,000 bond if you wish to be licensed as an Illinois appraisal management company. AMC bonds provide a way for your clients to be compensated if they are harmed by your business for unprofessional or unlawful conduct. Your cost for this bond can be as low as $438 for a two-year bond.

Motor Vehicle Dealer Surety Bond

Also called an auto dealer bond, this $50,000 surety bond protects customers by ensuring your compliance with auto industry regulations and ethical business practices. The annual premium for an auto dealer bond in Illinois ranges from $410 to $500 depending on your credit history.

Plumbing Contractor Bond

In Illinois and the City of Chicago, a $20,000 plumbing contractor bond is required for you to legally operate a plumbing business. The bond protects the state and your customers by requiring a high degree of professionalism in your work and compliance with the terms of the bond contract. Qualified Illinois plumbers can obtain proper surety bond coverage for an annual cost of $200 or less.

Residential Mortgage License Bond

The residential mortgage license surety bond, commonly known as a mortgage broker bond, is designed to offer financial protection for individuals obtaining a mortgage loan from a state licensed mortgage lender.

The cost of this bond varies widely depending on your company’s volume of loan originations and are available with rates as low as 0.75% of the liability amount. Mortgage bond liability amounts range from $20,000 to $150,000 in Illinois. With a high personal credit score, your premium could be as low as $150 for a $20,000 bond.

Roofing Contractor Bond

Roofing contractor bonds can help limit regulatory oversight and negligence while also protecting the general public from unqualified contractors. Required bond amounts range from $10,000 to $25,000 for Illinois roofers based on your roofing license type.

  • Limited license requires a $10,000 surety bond.
  • Unlimited license requires a $25,000 surety bond.

Your annual premium will vary from $50 to $250 depending on the type of license and coverage amount your roofing business obtains.

Illinois Surety Bond Costs
Bond Name Coverage Amount Cost
(Annual Premium)
Regulatory Authority
Appraisal Management Company (AMC) Bond $25,000 $438 (two years) Illinois Department of Financial & Professional Regulation
Motor Vehicle Dealer Bond $50,000 $410–$500 Illinois Secretary of State
Plumbing Contractor Bond $20,000 $200* Illinois Department of Public Health
Residential Mortgage License/Broker Bond $20,000– $150,000 $150–$1,125 Illinois Department of Financial & Professional Regulation, Banking Division
Roofing Contractor Bond $10,000– $25,000 $50–$250 Local cities and municipalities

* Cost can vary depending on the bond amount required and your credit rating

Get Your Illinois Surety Bond


Our knowledge of Illinois bonding regulations allows us to provide accurate quotes quickly. For guidance on selecting surety bonds for your business, talk to one of our experts today.

For faster service, call us at 855-215-2160
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