License, permit, contract, and fidelity bonds
Surety Bonds in Ohio & West Virginia: License, Contract & Fidelity
A bond is not insurance for you, it is a guarantee to someone else that you will perform or comply. Cities, states, and project owners require them constantly. Small license bonds are often issued same day; contract bonds require underwriting of your financials and work history.
Who this is for
- Contractors bidding public or commercial projects
- Businesses applying for a state or municipal license
- Auto dealers, freight brokers, and title agencies
- Employers protecting against employee theft (fidelity)
What Surety Bonds covers
Coverage points below are typical. Actual terms depend on the carrier and the policy form we place.
License & permit bonds
Required to obtain or keep a business license, contractor registration, dealers, brokers, and more.
Bid bonds
Guarantees you will honor your bid and enter the contract if awarded.
Performance bonds
Guarantees the project owner that the work will be completed per contract terms.
Payment bonds
Assures subcontractors and suppliers on the job get paid.
Maintenance / warranty bonds
Covers workmanship defects for a defined period after completion.
Fidelity & employee dishonesty bonds
Reimburses your business for theft by an employee.
Court & probate bonds
Fiduciary, appeal, and estate bonds ordered by a court.
Right-of-way & utility bonds
Common municipal requirements for work in public rights of way.
What it does not cover
- Your own losses, a surety bond protects the obligee, not you
- Liability for injury or property damage (that is general liability)
- Poor bookkeeping or insolvency; sureties underwrite your financials
Typical limits & requirements
- Penal sum set by the obligee
- The bond amount is dictated by the state, city, or contract, not chosen by you.
- Rates of roughly 1-3% for qualified applicants
- Contract bond rates scale with credit, experience, and working capital.
- Small bonds often flat-rated
- Many $10,000, $25,000 license bonds are issued for a modest flat premium.
What drives your price
- Personal and business credit of the owners
- Working capital and balance-sheet strength
- Bond type and required penal sum
- Track record on similar completed projects
- Whether indemnity from the owners is provided
Ohio & West Virginia notes
Ohio municipalities and the West Virginia Division of Highways each have their own bond forms and filing quirks. We work from the exact form your obligee issued so the bond is accepted the first time, and we can usually turn small license bonds around within a business day.
Common questions
Is a bond the same as insurance?
No. Insurance protects you; a bond protects the party requiring it. If a surety pays a claim, you reimburse the surety.
Can I get bonded with bad credit?
Often yes for small license bonds, at a higher rate. Contract bonds are more credit sensitive, but there are programs for newer and credit-challenged contractors.
How fast can I get a license bond?
Frequently same day once we have the obligee's form and your application.
What is the difference between a performance and a payment bond?
A performance bond guarantees the work gets done; a payment bond guarantees subs and suppliers get paid. Public projects usually require both.
Guides worth reading first
Business owner guides covering surety bonds and the rest of your Ohio or West Virginia insurance program.
- Business · 8 min readSurety Bond vs. Business Insurance: What's the Difference?A bond and a liability policy can both sit in your business's paperwork, but they protect completely different people. Here's the difference, in plain terms.Read the guide
- Business · 10 min readSelf-Employed Insurance: What You Actually Need to CoverNo employer benefits desk means you build your own stack. Ranger walks through health, liability, auto, disability, and life coverage for the self-employed.Read the guide
- Business · 9 min readCommercial Auto Insurance Requirements for Ohio BusinessesIf your team drives for work, a personal auto policy may not respond at all. Here are Ohio's commercial auto rules and the limits contracts actually demand.Read the guide
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