California Contractor Bond Firm Offers Reduced Bond Rates for Contractors with Bad Credit – InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Life Insurance News
    • Annuity News
    • Health/Employee Benefits
    • Property and Casualty
    • Advisor News
    • Washington Wire
    • Regulation News
    • Sponsored Articles
    • Monthly Focus
  • INN Exclusives
  • NewsWires
  • Magazine
  • Webinars
  • Free Newsletters
Sign in or register to be an INNsider.
  • Exclusives
  • NewsWires
  • Magazine
  • Webinars
  • Free Newsletters
  • Insider Pro
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Newsletters

Get Social

  • Facebook
  • Twitter
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
April 13, 2017 Newswires No comments
Share
Share
Tweet
Email

California Contractor Bond Firm Offers Reduced Bond Rates for Contractors with Bad Credit

PR Web

San Diego, California (PRWEB) April 13, 2017

California Contractor Bond & Insurance Services, a surety and insurance service provider based in San Diego, CA, is now offering reduced license bond rates for contractors with bad credit.

Related stories

  • State Farm, Progressive stop insuring some Kias, Hyundais after rampant thefts [Springfield News-Sun, Ohio]
  • Property Insurance Market Next Big Thing | Major Giants- Aviva, Assicurazioni Generali, State Farm

With access to a semi-exclusive surety market, CCB&IS is now offering a 1 Year $15,000 California contractor's license bonds at $350.00 regardless of credit history.

California Contractor Bond & Insurance Services management reiterates, "Our clients have been extremely pleased with this new product as we have been able to save dozens of contractors over $500 on their bond renewals offered online at http://www.contractorbond.org

As an industry expert, California Contractor Bonds & Insurance Services says contractor surety bonds enhance contractors' credibility because they guarantee their capability in completing projects. No physical security is required so contractors can channel their assets to other requirements for business development and acquisition of additional resources. Besides, service providers (contractors, sub-contractors, electricians, installers, and laborers) are obliged to pay for the bond limits utilized.

In California, the contractor bond serves as the formal accord between the State and the surety firm to ensure contractors will uphold the License Law under the California B&P Code Section 7000).

Henceforth, licensed contractors are mandated to adhere to the California Contractors State License Board (CLSB) rules and regulations so they can stay away from possibly disciplinary actions. If violations are serious, these can lead to suspension and revocation of their licenses. Clients, employees or suppliers have the right to file claims with the surety company against builders who do not obey the laws of California.

Last year, The CLSB increased the required bond amount from the $12,500 to $15,000. This is not a per-project cost, but the aggregate amount of all projects contractors undertake while the bond is in effect. Contractors who breach California State legislation may be meter disciplinary bonds. Cost and time prerequisites for disciplinary bonds depend on situations of respective service providers.

California Contractor Bonds & Insurance Services clarified a contractor bond is different from insurance coverage. Pricing of bonds is mainly dependent on individual credit histories. Contractors are accountable for their actions and are required to pay back the surety firm for paid claims. On the other hand, the carrier cannot expect full payment from policyholders for compensated insurance claims.

Brokers from California Contractor Bond & Insurance Services work with different underwriting marketplaces to provide the most competitive rates available.

About California Contractor Bonds & Insurance Services

The company provides easy and prompt bonding services throughout California and guarantees competitive rates for contractor's license bonds, qualifying individual, swimming pool and roofing contractor bonds.

California Contractor Bond & Insurance Services
2358 University Avenue #2109
San Diego, CA 92104
(619) 354-9720
https://www.contractorbond.org/contact

Read the full story at http://www.prweb.com/releases/2017/contractor-bond-CA/prweb14240259.htm

Older

Maryland Legislature Takes Steps to Expand Medicaid – Bipartisan Effort Authorizes Adult Dental Benefit

Newer

Senate Unanimously Passes Budget Focused on Education: Unprecedented K-12 Per Student Funding, Key Investments in Higher Education, State Employee Raises

Advisor News

  • Some major REITs limiting cash-out requests from investors
  • Four stages of retirement planning
  • Can you work while on Social Security?
  • Even on $100K-plus, more Americans are living paycheck-to-paycheck
  • Opinion: the state wealth-tax alliance
More Advisor News

Annuity News

  • Sweet streams of income: ChatGPT, the bard of annuities
  • F&G Annuities & Life announces equity investment in life IMO SYNCIS
  • Investors scrambling to lock in rates propel annuity sales to record highs
  • North American and Annexus launch new fixed index annuity
  • Producers stew as insurers slow to process life and annuity applications
More Annuity News

Health/Employee Benefits News

  • Medicaid coverage is expiring for millions of Americans – but there's a proven way to keep many of them insured
  • Health savings account balances increase in 2021
  • Outcome Health trial gets underway with prosecutors alleging former execs were involved in $1 billion fraud scheme
  • Bill incentivizing gun owners to secure firearms addresses public health concern
  • With CalPERS, add another to list of California's botched projects
More Health/Employee Benefits News

Life Insurance News

  • NAIFA’s Future Leaders Program offers free sessions for students
  • Scott Boutin named president of Standard Security Life
  • Agent insists Alex Murdaugh suggested he killed his son
  • 78% of families suffer financially handling estate affairs
  • National Life expands living benefits suite
Sponsor
More Life Insurance News
The time is 04:42:51am test

- Presented By -

Top Read Stories

  • Investors scrambling to lock in rates propel annuity sales to record highs
  • Chicago news roundup: PPP fraud uncovered in Chicago, informant reveals $100K bounty on FBG Duck and more
  • For some, nothing to fear from taking RMDs, professor says
  • North Carolina businessman pleads guilty in multi-million tax fraud case
  • Study: Education level should drive decisions on Social Security, annuities
More Top Read Stories >

FEATURED OFFERS

Grow life insurance sales in 2023 with middle-market clients

Tap a new source for sales and referrals with Allianz Life Insurance Company of North America.

Don't Miss ICMG 2023

When the success of your business depends on making the right connections, ICMG is the place to be.

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Life Insurance News
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty
  • Advisor News
  • Washington Wire
  • Regulation News
  • Sponsored Articles
  • Monthly Focus

Top Sections

  • Life Insurance News
  • Annuity News
  • Health/Employee Benefits News
  • Property and Casualty News
  • AdvisorNews
  • Washington Wire
  • Insurance Webinars

Our Company

  • About
  • Editorial Staff
  • Magazine
  • Write for INN
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2023 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • AdvisorNews

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.