Commercial Lines Coverage

Surety & Performance Bonds

Bid, performance, and payment bonds for contractors and businesses that need to guarantee their obligations to project owners and government agencies.

Get a free quote Call (305) 791-4872

Coverage overview

Surety bonds are three-party agreements that guarantee a contractor or business will fulfill their contractual obligations. Unlike insurance, a bond protects the project owner (obligee) — not the contractor. Florida contractors frequently need bonds for public projects, licensing, and large private contracts. We work with surety markets to get your bonds issued quickly.

What we can include

Bid bonds
Performance bonds
Payment bonds
License and permit bonds
Court and fiduciary bonds
Commercial surety bonds
Contract bonds
Quick turnaround available

Who needs it

Who needs surety & performance bonds?

General Contractors

Most public projects and many large private projects require performance and payment bonds as a condition of the contract.

Subcontractors

GCs often require subcontractors to provide bonds, especially on larger projects or when the sub is new to the relationship.

Licensed Contractors

Florida requires license bonds for many contractor license types — electrical, plumbing, HVAC, and others.

Government Contractors

Federal and state government projects over $150,000 require performance and payment bonds under the Miller Act.

Auto Dealers & Businesses

Many business licenses and permits require surety bonds as a condition of licensure.

Court & Estate Matters

Executors, guardians, and trustees may be required by courts to obtain fiduciary bonds.

Questions

Frequently asked questions

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What's the difference between a surety bond and insurance?

Insurance protects the policyholder. A surety bond protects the project owner (obligee). If a claim is paid, the surety company can seek reimbursement from the contractor (principal). Bonds are a credit product, not a risk transfer product.

How much does a surety bond cost?

Bond premiums are typically 1–3% of the bond amount for well-qualified contractors. Higher-risk applicants may pay more. A $500,000 performance bond might cost $5,000–$15,000 per year.

How quickly can I get a bond?

Small bonds (under $100K) can often be issued same-day. Larger bonds require underwriting review of your financials and experience, which can take a few days to a week.

What do surety underwriters look at?

Surety underwriters evaluate your financial statements, work history, credit, and management experience. Strong financials and a track record of completed projects lead to better terms.

Ready to get covered?

Our licensed advisors will find you the right coverage across our carrier partners. No obligation, no pressure. We speak English and Spanish.

Get a free quote (305) 791-4872

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