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Platinum Bonds Insurance Agency

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Contractor License Bond

Contractors applying for a new, renewal, or reinstated license who do not meet the financial responsibility standards (e.g., net worth, credit history, or history of bankruptcy/judgments). Required when: Failure to demonstrate financial responsibility during license application, renewal, or reinstatement. Exemptions: …

Bond amount"The bond amount is determined by the license classification: $50,000 for Gener…
State or jurisdictionUtah
ObligeeUtah Division of Professional Licensing

Essential point: Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.

Amounts can vary

Selected requirement: "The bond amount is determined by the license classification: $50,000 for Gener…. Other available requirements: "The bond amount is determined by the license classification: $50,000 for General Building (B100) and General Engineering (E100); $25,000 for Residential and Small Commercial (R100); and $15,000 for all other classifications. The amount ma…. Exact options still depend on the obligee, state, and underwriting.

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2323 yearsHelping clients and agents
Overview

What it is.

Contractors applying for a new, renewal, or reinstated license who do not meet the financial responsibility standards (e.g., net worth, credit history, or history of bankruptcy/judgments). Required when: Failure to demonstrate financial responsibility during license application, renewal, or reinstatement. Exemptions: …

Who usually needs it

Contractors applying for a new, renewal, or reinstated license who do not meet the financial responsibility standards (e.g., net worth, credit history, or history of bankruptcy/judgments).

Pricing & timing

What to expect.

Generic pricing

License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher depending on the specific bond type, state program, or underwriting requirements.

Your quote determines the actual premium.

Typical timeframe

Issuance timeframe varies by bond type and underwriting

Timing can change when underwriting needs more information.
Application details

How it works.

  1. Start the application

    Confirm the bond and provide applicant and business details.

  2. Review the quote

    See the terms and premium before deciding to continue.

  3. Pay and sign

    Complete the required payment and signatures.

  4. Receive the bond

    Get the issued bond and filing or delivery instructions.

Platinum Bonds

Experience behind every bond.

Helpful guidance, a real agency team, and a clear path from research to application.

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“My bond application was processed and received very quickly.”

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“I highly recommend you do business with these folks.”

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23 years

Offering service to clients and agents alike.

Next step

Ready to move forward?

Start the secure application with this bond already selected, or ask Ava a question before you begin.

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