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Massachusetts
Service Contract Provider

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Massachusetts Service Contract Provider Bond Guide

In Massachusetts, service contract providers must file a surety bond to register with the Division of Insurance.

Bond Overview

  • Purpose: To ensure service contract providers uphold state regulations and client contracts
  • Who Needs It: Businesses offering extended service contracts in Massachusetts
  • Regulating Body: The Division of Insurance
  • Required Coverage: $25,000
  • Premium Rate: $250–$2,500 based on credit score

Learn all about the bond requirements and process in this guide.

What Is a Massachusetts Service Contract Provider Bond? 

This bond ensures that service contract providers in Massachusetts comply with state standards and have the financial capacity to fulfill contracts.

The Massachusetts Division of Insurance requires this type of commercial surety bond to register with the state. 

How Much Do Service Contract Provider Bonds Cost in Massachusetts?

Massachusetts service contract provider bonds cost a small percentage of the $25,000 bond amount, starting at $250.

Exact rates vary based on personal credit score. Apply for your free quote now!

Bond Type
$25,000Service Contract Provider

SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees. 

Who Needs a Service Contract Provider Bond? 

In Massachusetts, you must register with the state before providing contracts for additional maintenance on homes, motor vehicles or consumer goods.

How Do I Get My Bond?

SuretyBonds.com provides the fastest and easiest way to get a Massachusetts service contract provider bond. Just follow these quick steps: 

  1. Apply: Submit an online quote request form
  2. Quote: Receive your quote within one day
  3. Sign: Complete the indemnity agreement 
  4. Buy: Purchase the bond online 24/7

We’ll email you the bond shortly after purchase. Be sure to file the bond with the Division of Insurance as instructed. 

If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance. 

How Does a Massachusetts Service Contract Provider Bond Work? 

As with all surety bonds, a service contract provider bond creates a legal contract between three parties: 

  1. Principal: You, the service contract provider filing the bond
  2. Obligee: The Massachusetts Division of Insurance requiring the bond
  3. Surety: The provider issuing the bond

This holds you financially responsible for upholding the provisions of Massachusetts General Law Chapter 175 Sections 149M–149X. 

If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety. 

How Do I Renew My Bond?

These bonds expire annually. To renew your service contract provider bond, simply pay your renewal invoice when prompted. 

We’ll begin contacting you by phone and email 90 days before the expiration date. 

More Resources

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