Wisconsin Contractor License Bond Requirements
A few different types of Wisconsin contractors have to obtain a contractor license bond as a part of their licensing with state or local authorities.
There is a state-wide bond requirement for obtaining a Wisconsin general contractor license. However, if you want to get a Wisconsin dwelling contractor license, you need to provide a bond to the Department of Safety and Professional Services.
You also need to get bonded if you want a contractor license in the City of Sheboygan, a natural gas contractor license in LaCrosse City, a concrete contractor in the City of Waukesha, and the City of West Allis, and a home improvement contractor license in Milwaukee.
Before you launch your contractor licensing process in Wisconsin, it’s best to check with your local authorities the exact bonding requirements you need to meet.
Why Is This Bond Required?
Wisconsin contractor license bonds work as a safety net that protects your customers. Their purpose is to ensure that you will adhere to applicable laws in your work as a licensed or registered contractor.
If you fail to complete a project or commit an illegal activity in another way, a harmed client can file a claim against the bond. The maximum compensation they can seek is the penal sum of the bond that you have posted.
Need more details about the way bonding functions? Our ‘What is a surety bond’ guide is an extensive resource on the topic.
If you have further questions, you can speak with our bonding experts by calling us at 866.450.3412.
What’s the Cost of the Wisconsin Contractor License Bond?
The price that you need to pay to get bonded depends on the bond amount that the respective authorities require.
The amounts for different types of Wisconsin contractors are:
- $1,000 bond for Milwaukee home improvement contractors
- $3,000 bond for City of West Allis concrete contractors
- $5,000 bond for City of Waukesha concrete contractors
- $10,000 bond for City of Sheboygan contractors and natural gas contractors in LaCrosse City
- $25,000 bond for dwelling contractors in Wisconsin
The cost of your bond is referred to as the premium. It is set based on the strength of your personal and business finances.
Factors That Determine Your Bond Cost
The most important factor that shapes your bond cost is your personal credit score. The higher it is, the lower your bond cost would be. For applicants with a FICO score of 700 and higher, the rates go as low as 1% of the required bond amount.
The other indicators that your surety considers in formulating your bond cost include:
- Personal and business finances
- Fixed and liquid assets that you showcase
- Industry experience
For further details on how your bond price is set, you can consult our in-depth surety bond cost guide.
You can check an estimate of your contractor license bond cost based on your credit score in the table below.
|Wisconsin Contractor License Bond Cost Based on Credit Score|
|License type||Bond Amount||Credit Score|
|Above 700||650-699||600-649||Below 599|
|Milwaukee home improvement contractors||$1,000||$100||$100||$100||$100|
|City of West Allis concrete contractors||$3,000||$100||$100||$100-$120||$100-$150|
|City of Waukesha concrete contractors||$5,000||$100||$100-$150||$100-$200||$150-$250|
|City of Sheboygan contractors and LaCrosse City natural gas contractors||$10,000||$100-$200||$150-$300||$200-$400||$300-$500|
|Wisconsin dwelling contractors||$25,000||$250-$500||$375-$750||$500-$1,000||$750-$1,250|
How to Get Your Surety Bond
Do you want to obtain your Wisconsin contractor license bond? You can click on the banner below to get a free quote. Then you can buy the bond online.
Don’t hesitate to contact us at 866.450.3412 for any questions you may have about contractor license bonding in Wisconsin.
Bryant Surety Bonds is licensed to issue contractor license bonds in all 50 states. We can assist you to get bonded as a contractor anywhere in the country!