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Platinum Bonds Insurance Agency

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Surety bond in lieu of net worth

Commercial, residential, and mold remediation contractors (including Mechanical/HVAC contractors) who cannot demonstrate the required $10,000 net worth through a notarized financial statement. Required when: Required when an applicant for a contractor license fails to meet the minimum net worth requirement of $10,000.…

Bond amount$10,000
State or jurisdictionLouisiana
ObligeeLouisiana State Licensing Board for Contractors

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: $10,000. Other available requirements: "The bond amount must be equal to the $10,000 net worth requirement plus the amount of the applicant's negative net worth, if any.". Exact options still depend on the obligee, state, and underwriting.

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2323 yearsHelping clients and agents
Overview

What it is.

Commercial, residential, and mold remediation contractors (including Mechanical/HVAC contractors) who cannot demonstrate the required $10,000 net worth through a notarized financial statement. Required when: Required when an applicant for a contractor license fails to meet the minimum net worth requirement of $10,000.…

Who usually needs it

Commercial, residential, and mold remediation contractors (including Mechanical/HVAC contractors) who cannot demonstrate the required $10,000 net worth through a notarized financial statement.

Pricing & timing

What to expect.

Generic pricing

Miscellaneous commercial bonds cover a wide range of business obligations not fitting other categories. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger 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. Pricing varies by specific bond type and requirements. Some miscellaneous bonds may price higher depending on risk factors. Contact us for a specific quote.

Your quote determines the actual premium.

Typical timeframe

Credit-based approval — varies by bond type

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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