Virginia Contractor License Bond

A Virginia contractor license bond may cost you between $100 and $5,000. This value is heavily affected by the surety bond amount.

The entity requiring the bond will let you know the amount you must be bonded for. This amount can be as low as $1,000 for an Excavation Contractor Bond in the city of City of Petersburg or go up to $50,000 for a Board for Contractors License Bond, valid for a 2-year term. 

In any case, you’re not required to pay the full bond amount, only a small percentage of it, known as the surety bond premium. This value, usually ranging between 1% - 10% of the bond amount is, in turn, influenced by the risk you represent to the surety. Some of the factors influencing this percentage include:

• Credit score
• Business financials
• Assets and liquidity
• Professional experience

In the table below, you can get a ballpark estimate of the premiums you can expect to pay for each of the most popular Virginia contractor license bonds, according to your credit score.

For a free, accurate quote, tailored to your needs, just fill our online application. That’s what our satisfied customers like Daniel K. did to get bonded quickly and at the best rates.

1. Determine the Surety Bond You Need

You can obtain this information from the entity requiring the surety bond. This can be a state agency like the Board for Contractors or a local authority like the city of Portsmouth.

2. Apply For Your Bond

You can apply for your surety bond by completing our online application form. This quick process will ensure you get access to a great rate and to our 20+ years of experience in the bonding industry.

3. Get a Bond Quote

Once we receive your application, our team immediately starts searching for the best rate for you. If your bonding needs are straightforward, you'll receive your free quote instantly. For more complex requirements, we aim to deliver your quote within 24 hours.

4. Buy Your Bond

As soon as you accept our quote and pay the bond premium, you are officially bonded! We will email your bond directly to you, and if necessary, we will also send a paper copy by mail.

If you have any further questions, don’t hesitate to contact us.

A Virginia contractor license bond in the amount of $50,000 is required from anyone looking to obtain a Class A or Class B contractor license, as stated by the Virginia Code sections 54.1-1106 and 1108. In either case, the bond is required in lieu of proof of financial responsibility. This bond is valid for 2 years, the same term as the contractor’s license. 

In addition to this state-level requirement, there may be additional bonding requirements, depending on the region where you wish to conduct your business.

Steven and his brother Jonathan worked on small contracting jobs in Sterling, holding a Virginia Class C contractor license. As their business expanded into Fairfax County, they contacted us to obtain the required $10,000 contractor license bond. Up until that point, their operations had been modest, and their financials were not in the best shape. However, we still managed to bond them at a competitive rate. Once they received their bond and their Fairfax Home Improvement Contractor License, their business thrived, benefiting from the many opportunities the neighboring county had to offer.

These extra requirements are usually found at county or city level and will require you to post an additional surety bond. Here’s a list of cities and counties in Virginia that require further bonding:

• Arlington County 
• Fairfax County
• Prince William County
• City of Danville
• City of Falls Church
• City of Lynchburg
• City of Newport News 
• City of Petersburg
• City of Portsmouth 
• City of Richmond
• City of Roanoke
• City of Suffolk

Getting your Virginia Contractor license isn’t always a straightforward process. While the exact steps may vary depending on your particular case or the license you are applying for, here’s the licensing process to follow:

Step 1 - Create a business entity

Step 2 - Name the company and register its name

Step 3 - Determine the type of license you’ll need

Step 4 - Name your Responsible Management

Step 5 - Name your Qualified Individual(s)

Step 6 - Name your Designated Employee who has passed the required portions of the examination

Step 7 - Complete the pre-licensing education course

Step 8 - Fill the application

Step 9 - Submit the application, along with your filled surety bond form, and pay the corresponding fee

For further details, we encourage you to read our guide on how to get a contractor license in Virginia. Alternatively, you can contact the Department of Professional and Occupational Regulation - Board For Contractors through one of the following contacts:

• Phone: (804) 367-8511
• E-mail: [email protected]
• Address: 

  Department of Professional and Occupational Regulation
  9960 Mayland Drive
  Suite 400
  Richmond VA 23233-1485