Nevada Contractor License Bond
What is a Nevada contractor license bond?
A Nevada contractor license bond is required of any contractor license issued within the state. Like all surety bonds, it helps protect owners, suppliers, employees, and consumers if a contractor doesn't fulfill all aspects of their contract.
How much do contractor license bonds in Nevada cost?
The annual cost of a Nevada contractor license bond starts at $100 for bonds with liability limits less than $5,000. Bonds with liability limits over $25,000 require a credit check, which may affect the final cost. Bond amounts can vary from $1,000 to $500,000, and the premium for this type of license bond is determined by the state.
The Nevada State Contractors Board determines the bond amount based on:
- The type of license being applied for
- The liability limit
- The financial status, past contractor experience, and character of the applicant
Cost of a Nevada Contractor License Bond
| Bond Amount | Cost (Annual Premium) |
|---|---|
| Less than $5,000 | $100 |
| $5,001 - $500,000 | 2% |
Who needs a Nevada contactor license bond?
Any individual or business contractor in the state of Nevada is required to post a surety bond at the time they get license approval.
How can I get a Nevada contractor license bond?
Before applying for a Nevada contractor license bond, you'll need to determine the bond amount for your specific contractor classification and type of work. To do so, complete your application for a contractor license with the Nevada State Contractors Board. Once your application is approved, the state will notify you of the required bond amount.
Once you know your bond amount, you can proceed with purchasing your bond with NNA Surety Bonds. Just follow this link and fill out the application. All we need is some basic information about you and your business. (Note that NNA Surety Bonds meets the state of Nevada's requirement of being legally authorized to transact business in the state and having a credit rating of "A" or better.)
Depending on the type of bond and amount requested, you'll either be instantly approved or we'll run a quick credit check. As mentioned, credit checks are required for any bonds greater than $25,000.
Once we approve your bond application and determine the premium, we'll email you your Nevada contractor license bond. You'll then need to file the bond with the Nevada State Contractors Board.
What else do I need to know about Nevada contractor license bonds?
Obtaining a surety bond is one of the final steps in becoming a licensed contractor in Nevada. There are many other requirements prior to getting a bond, such as obtaining a Nevada Business ID, passing an exam, and providing proof of insurance.
There are additional requirements for residential pool and spa contractors, so check the Nevada State Contractors Board website for more information if that applies to you.