Illinois Contractor License Bond

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  • Mandatory in numerous Illinois cities and counties
  • Licensing requirement for roofing and plumbing contractors across the state
  • Protects the state and public of Illinois against contractor violations
  • Provides financial compensation to cover bond claims
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How much does an Illinois contractor license bond cost?

With the exception of roofing and plumbing contractors, the state of Illinois does not require contractors to get licensed through a single state licensing body. Applicants for a Illinois general contractor license must get licensed through their local licensing body. This means that the cost of your Illinois contractor license bond will vary depending on where you are getting licensed.

Roughly, general contractor license bonds in Illinois fall in the following categories: $5,000, $10,000, $20,000, $25,000, and $50,000.

Additionally, plumbing contractors in Illinois must always obtain a $20,000 surety bond, and roofing contractors need a $10,000 bond.

Check the table below for a breakdown of costs for the various bond amounts.

How much you need to pay to obtain your Illinois contractor license bond depends on your personal financials. Sureties check their applicants’ credit score, financial statements, and other indicators before determining what rate to offer them. Among the above, personal credit score is the strongest and most important factor determining bond cost.

Applicants who have a high credit score, such as one of 700 FICO or above, usually get the best possible rates on their bonds.

Options for applicants with bad credit

For applicants with a low credit score, we offer a solution. Thanks to our Bad Credit Program, Illinois contractor license applicants with a low or nonexistent credit can still get bonded. There is no other difference between bonds under this program and those for applicants with better credit, apart from the slightly higher rates.

Applicants with a low credit score need to pay a higher rate because sureties assume a higher risk when bonding these applicants. By getting bonded and licensed as contractors, applicants can improve their credit score, and are likely to get a better rate upon renewing their bond.

The exact cost of a bond under this program depends on an applicant’s individual financial status. Get in touch with our experts through the Bad Credit Program page for an exact quote on your bond.

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  • The lowest possible rates
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  • Access to specialty programs, not available to small agencies

What is the purpose of this bond?

The purpose of an Illinois contractor license bond is to guarantee that bonded and licensed contractors in the state will abide by all construction or contractor-related rules and regulations. By getting bonded, a contractor is agreeing in a legally-binding way to comply with those rules as well as to do business honestly.

If an Illinois contractor is found to be in violation of the conditions of their bond, a claim can be filed against their bond. When a claim is filed, the surety which is responsible for backing the bond will investigate the claim. If it concludes there is cause for a claim, it may compensate claimants up to the full amount of the bond.

As part of the bond agreement, the Illinois contractors must then repay the surety for any compensation it has extended.

Claims against an Illinois contractor license bond can be filed for:

  • Violating the Illinois statutes, such as the Public Construction Bond Act, the Prompt Payment Act and others
  • Acting dishonestly and not in the public’s or state’s best interest
  • Causing losses and damages during work on a contract
  • Foregoing the payment of taxes, obligations, fees and dues to the state of Illinois

How to apply for an Illinois contractor license

Illinois contractor license requirements for general contractors vary from city to city. For a detailed list of licensing instructions and requirements, applicants should contact their local licensing body.

Illinois roofing contractors must apply at the Illinois Department of Financial and Professional Regulation to obtain their license. Illinois plumbing contractors need to apply at the Illinois Department of Public Health. There are specific licensing requirements for each of these two types of licenses, such as previous experience, taking a pre-licensing exam, etc.

For any questions regarding obtaining an Illinois contractor license bond for general contractors, roofing or plumbing contractors, contact us at (866)-450-3412 anytime. Our surety professionals will be happy to provide you with advice and assistance.

Not ready to apply? Then simply get a free no-obligations quote, so you can see our low prices!