License & Permit Bonds

Frequently Asked Questions

• Who needs a license and permit bond?

  A business required by a government agency to obtain a bond as a condition to granting a license or permit.

• What is the amount of the bond?

  The amount of the bond will vary based on the type of business and the particular government agency requiring the bond.

• What is the process to obtain a license and permit bond?

  Colonial Surety Company offers the direct and digital way to obtain a license and permit bond. We make it easy to obtain your bond instantly. We also guarantee you get the correct bond form required by the obligee. With our library of over 6000 special bond forms, we are consistently adding to and updating per obligee requirements. The steps are simple — get a quote online, fill out your information, and enter your payment method. Print your bond from your home or office. It’s that simple!

• What does a license and permit bond cost?

  A license and permit bond is reasonably priced and easy to obtain. Colonial Surety Company offers our lowest possible rate. The premium is based on the amount of the bond required by the applicable government agency.

• Does it matter where I get the bond?

  Yes, it is important that you purchase your bond from a quality and financially-secure company. Incorporated since 1930, Colonial Surety Company is an A (Excellent) rated insurance company by A.M. Best. We are Treasury listed, licensed and admitted in all U.S. states and territories.

• License and Permit Bond Package - What is it?

  License Bonds and Insurance Protections Explained

   

  A License Bond is a type of surety bond, which serves as a guarantee that the professional obtaining it (the principal) will abide by all applicable regulations in carrying out their duties. Because failure to do so can result in a claim against the bond, license bonds are a form of protection for the public. The obligee (usually a public agency) requiring a bond specifies the details, including the amount. As a direct, national writer of all kinds of surety bonds, Colonial ensures that bonds meet the specific requirements of obligees across the country.

   

  Professional Liability Insurance protects professionals who may face claims of negligence, oversights, incorrect advice and other errors and omissions. Defense against even an allegation of wrongdoing is costly and disruptive to businesses, but when armed with Colonial’s Professional Liability Insurance, professionals have coverage of $25,000 against legal expenses as well as the cost of settlements and judgments. Importantly, Colonial’s package even includes Cybersecurity Liability Insurance at no extra cost.

   

  Uniquely, Colonial makes it easy, speedy and affordable for professionals to obtain both license bonds and liability insurance. Just obtain a quote for either a license bond or the bond+insurance package,  enter payment and download your coverages. It’s that simple.

• Does It Matter Where I Get My License Bond and Liability Insurance?

  Absolutely: It’s best not to waste time with companies that issue generic bonds—which might not meet the specific requirements of the obligee. Similarly, it’s best not to waste time shuffling between middle players (while your fees add up).

   

  Colonial Surety offers an affordable, direct and digital way to obtain a license and permit bond and insurance protection. We offer the convenience of being both a surety bond and insurance company, licensed for business in every state. Our complete package efficiently includes your specific License and Permit Bond with $25,000 of Professional Liability Insurance and $25,000 of  Cyber Liability Insurance.

   

  Colonial Surety Company is licensed in all US States and territories. listed by the U.S. Treasury as an approved surety and rated “A” (Excellent) by A.M. Best. We proudly maintain a 4.8 customer rating on Trustpilot.

• Do I really need Professional Liability Insurance?

  Of course: without it, you are leaving yourself open to claims of negligence and errors—which can put an end to the business you’re working to grow. Included in Colonial’s License Bond+ Insurance Package, is Professional Liability Insurance, which provides $25,000 of coverage, protecting professionals from the everyday risks associated with being in business. Specifically, if you’re sued for negligence because mistakes were made or your work didn’t meet the client’s expectations, you have coverage for legal defense expenses, as well as the cost of settlements and judgments—whether or not you are at fault. Professional Liability Insurance (PLI) protects professionals n the event of:

  • Claims of negligence
    • Work mistakes and oversights
    • Incorrect advice
    • Undelivered services
    • Missed deadlines
    • Omissions
• What does the Package’s Cyber Liability Insurance cover?

  Also included in Colonial’s License Bond+ Insurance Package is Basic Cyber Liability Insurance, which provides $25,000 of coverage, and helps professionals prevent cyber incidents from becoming business-ending disasters by providing:

  • Expert-led response services following a data breach.
    • Protection from lawsuits and regulatory actions related to the breach.
    • Legal services.
    • Computer forensic services.
    • Public relations and crisis management expenses.
    • Notification services.
    • Call Center services.
    • Credit and Identity monitoring