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Maryland Home Improvement Contractor Bond

How much does a $20,000 surety bond cost for a home improvement contractor in Maryland

A $20,000 surety bond for home improvement contractors in Maryland costs as little as $200 per year, meaning a 2-year bond would cost as little as $400 for highly qualified applicants. The exact cost a Maryland home improvement contractor will pay for his or her bond is dependent upon a review of their credit by an underwriting professional.

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Bond Type Bond Amount Cost*
$20,000 Home Improvement Contractor Bond 2-year term $20,000 Starts at $400 GET A QUOTE

Why do I need a home improvement bond in Maryland?

The Maryland Home Improvement Commission requires home improvement contractors to get a $20,000 surety bond prior to being licensed. The surety bond is intended to guarantee the contractor complies with the Annotated Code of Maryland, Business Regulation Article, Title 8, regarding home improvement regulations. Home improvement contractors must demonstrate financial solvency as part of their application process because the Guaranty Fund will compensate a homeowner up to $20,000 (or the total amount of payments made on the contract) in the event the contractor performs an unworkmanlike, inadequate, or incomplete home improvement.

Any applicant who does not meet the financial solvency guidelines may purchase a surety bond as a way of fulfilling the financial solvency requirement.

Each home improvement contract must be in writing and must be legible. Contractors can’t accept a deposit or payment from a homeowner until the contract is signed by each party involved in the contract. The agreed-upon price of the home improvement contract should be clearly stated. The contract must also describe each document that incorporates, such as an architect’s drawings or a building permit, and the homeowner must receive a signed copy of the contract prior to the commencement of work.

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Need a surety bond for a construction project?

Payment bonds and performance bonds are often required for specific construction projects. No matter the state, SuretyBonds.com can get you the bond you need for your next job.

Terms of a home improvement contractor bond

The Maryland Home Improvement Commission requires contractor bonds to be issued continuously for 2-year terms, and if the surety wishes to cancel the bond, the state requires the surety to provide notification in writing at least 30 days prior to the proposed cancellation date.

How to become a home improvement contractor in Maryland

To become a home improvement contractor, all applicants must pass an exam proctored by PSI Exams Online prior to licensing. Once passed, the applicant can begin the licensing application. The following will be required on the application:

Mail the application package with a photo and a check/money order made payable to Maryland Home Improvement Commission for $370.00 to the following address:

Maryland Home Improvement Commission
P. O. Box 17409
Baltimore, Maryland 21297-1409

Application approval typically takes 2-3 weeks, and the licensee will usually receive his or her license in the mail within 10 days of approval.

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Additional Resources

Maryland Department of Labor, Division of Occupational and Professional Licensing

Maryland Home Improvement Commission - Applications, Forms and Fees

Maryland Home Improvement Commission - Apply for License

Maryland Home Improvement Contractor Bond Form