North Carolina Surety Bonds

Surety Bond Requirements in NC

Many professionals, contract workers, and companies doing business in North Carolina are required by the state to obtain a surety bond before they can be properly licensed. These bonding requirements apply to appraisal management companies (AMCs), collection agencies, contractors, motor vehicle dealers, public adjusters, and more.

Some bond amounts—or liability amounts—are fixed, but most are variable. For example, contractor bond amounts can vary by the size of your business, and many kinds of contractors (such as electrical and plumbing) are bonded by local municipalities. Depending on where you’re working, you may need both a state surety bond and a municipal surety bond, with different liability amounts for each.

Regardless of which government entity requires it, if you need a surety bond to comply with North Carolina bonding regulations, we can help. NNA Surety Bonds has been providing reliable coverage for companies and individuals across the United States since 1957.

We offer the following surety bonds in the state of North Carolina:

Appraisal Management Company (AMC) Bond

To do business in North Carolina as an appraisal management company, you’ll need a $25,000 AMC bond. Required by the North Carolina Real Estate Appraisers Board, this bond costs only $250 for a year’s coverage and can typically be issued instantly.

Collection Agency Surety Bond

North Carolina’s Department of Insurance requires collection agencies located within the state to obtain a $10,000 surety bond at the time of initial application. The cost of the initial bond is $100 per year. 

After your first year, the bond liability requirement increases to between $10,000 and $30,000 according to a formula based on your agency’s business receipts. Depending on the increase, your annual premium will range from $100 to $300.

Contractor License Bond

The North Carolina Licensing Board for General Contractors requires a bond from general contractors who don’t meet a certain threshold of working capital. These bonds range from $2,000 to $25,000 depending on the city or municipality, with annual premiums ranging from $100 to $250 depending upon the liability amount.

Electrical contractors are also licensed statewide, and require a bond of $2,000 to $25,000 depending on the local municipality.

Other contractors must be bonded by local municipalities such as Greensboro and Winston-Salem. These include electrical, plumbing, heating, air conditioning, refrigeration, demolition, street, bridge, and sidewalk contractors.

For questions related to the specific bond or bonds you may need as a North Carolina contractor, speak with one of our bonding experts at 855-215-2160.

Motor Vehicle Dealer Bond

The North Carolina Division of Motor Vehicles requires a $50,000 bond for your primary dealership location and a $25,000 bond for each additional location, whether you operate a new or used car dealership.

Your premium for these surety bonds is dependent on your personal credit score and certain measures of your business’s financial health. For a $50,000 auto dealer bond, your premium could cost as little as $125 annually for well qualified applicants, or up to $250 annually for the standard rate.

Public Adjuster Surety Bond

The North Carolina Department of Insurance requires you to post a $20,000 surety bond in order to work as a public adjuster in the state. Your annual bond premium from NNA Surety Bonds would be just $100.

North Carolina Surety Bond Costs
Bond Name Coverage Amount Cost
(Annual Premium)
Regulatory Authority
Appraisal Management Company Bond $25,000 $250 North Carolina Appraiser Board
Collection Agency Bond $10,000 $100 North Carolina Department of Insurance
Contractor License Bond $2,000–$25,000 $100–$250 North Carolina Licensing Board for General Contractors
Motor Vehicle Dealer Bond $25,000/$50,000 $125–$250* North Carolina Division of Motor Vehicles
Public Adjuster Bond $20,000 $100 North Carolina Department of Insurance

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

Get Your North Carolina Surety Bond

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Our detailed knowledge of North Carolina bond requirements enables us to provide accurate quotes quickly. For guidance through the process of selecting surety bonds for your company, talk to one of our experts today.

For faster service, call us at 855-215-2160
Monday to Friday, 6 a.m. to 5 p.m. (PT)

Providing Bonds and Insurance Since 1957