Free Surety Bond Cost Calculator

How to Use the Surety Bond Cost Calculator

1. Bond Type

   Select the type of surety bond you need from the dropdown menu. Surety bonds can vary widely depending on the industry and specific requirements. Choosing the correct bond type ensures an accurate estimate. If you cannot find the surety bond you are looking for exactly, choose All Other License Bonds.

2. State Requiring the Bond

   Select the state where the bond is required. Surety bond regulations and costs can vary by state, so it’s important to specify the correct location to get a precise estimate.

3. Surety Bond Amount ($)

   Enter the total amount of the surety bond required. This is the full value of the bond that the obligee (the entity requiring the bond) mandates. The bond amount influences the premium cost, with higher amounts typically resulting in higher premiums.

4. Select Your Credit Score

   Choose your credit score range from the dropdown menu. Your credit score is a significant factor in determining your surety bond premium. Higher credit scores generally result in lower premiums because they represent lower risk to the surety company.

5. Calculate Button

   Once all fields are filled, click the "Calculate" button to get an estimated cost of your surety bond. Please note that this form provides a rough estimate and the final premium may vary based on a more detailed evaluation by the surety company.

How surety bond premiums are estimated?

Surety bond premiums are mainly calculated based on the applicant’s credit score and usually vary between 0.5%-10% of the total bond amount. Other influencing factors include:

• Industry Experience: More experience can lead to lower premiums.
• Financial Strength: Strong financials and liquid assets can reduce costs.
• Financial Records: Good personal and business financial histories are beneficial.
• Business Stability: Established businesses with stable incomes are favored.
• Bond Type and Amount: Larger or specialized bonds may vary in cost.
• Claims History: A clean claims history can lower premiums.

To learn more about surety bonding premiums, visit our detailed guide on surety bond costs.