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Maryland Home Improvement Contractor Bond

How much does a home improvement contractor bond cost in Maryland?

Maryland home improvement contractor’s bond amounts are required in the amount of $20,000. The cost of this particular bond varies based on the principal’s (contractor’s) personal credit report. This bond is issued for a 2-year term.

Since the price of this bond varies, we suggest giving us a call at 1 (800) 308-4358 or filling out our easy online contact form. We’ll get you a free, personalized bond quote within 1 business day!

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Home Improvement Contractor Bond $20,000 Starts at $400 $2,000-4,000 $4,000+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

If you’re ready to get bonded, call SuretyBonds.com at 1 (800) 308-4358 or fill out our online bond request form. An expert surety specialist will contact you right away to set you up with the bond you need.

Why do I need this bond?

This bond is required to ensure that the state’s home improvement contractors comply with the Annotated Code of Maryland, Business Regulation Article, Title 8, regarding home improvement regulations. The bond form specifies that it may not be construed to require the surety to be responsible for the completion of any home improvement contract entered into between the principal (contractor) and a client.

Still have questions? Our team of surety experts is here to help you with all of your bonding needs. Get started now!.

What’s the fine print?

The Maryland Home Improvement Guaranty Fund requires these bonds to be issued for 2-year terms. This means premiums are calculated for 2 years of coverage rather than just 1 year of coverage.

The following information must be included on the bond form:

  • the contractor’s license number
  • the contractor’s individual name
  • the contractor’s business name (if applicable).

These bonds are continuous until canceled, and if the bond is to be canceled, the state requires the surety company to provide at least 30 days of notice.

How to become a home improvement contractor in Maryland

All applicants must pass an exam proctored by PSI Exams Online prior to licensing. Every application for a Maryland home improvement contractor’s license should include the following:

  • copies of conviction records for misdemeanors or felonies related to a home improvement transaction (if applicable)
  • proof of at least two years of experience in home improvement work, construction and/or related education
  • proof of financial solvency based on the scope and size of the business in relation to total assets, liabilities, credit rating, and net worth
  • a certificate of trade name registration
  • a surety bond
  • proof of current $50,000 liability insurance

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

Submit a bond request to connect with our team of experts!

Other Important Information

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 it 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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Maryland Home Improvement Commission - Applications, Forms and Fees

Maryland Home Improvement Commission - Apply for License

Maryland Home Improvement Contractor Bond Form

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