877-654-2327 All New Surety Bonds

877-930-8127 - Renewals Department
Surety1 was Founded in 2003.  Low-Cost Bond Provider.  Over 150,000 Happy Customers and Counting!   Find Your Bond >

Why have Surety Bonds in Construction?




Surety bonds are becoming ever more important in today’s challenging times.  Surety bonds are currently classified as insurance products even though they are more similar to credit institutions.  The current climate has created some large surety losses, which is causing many surety companies to tighten up their underwriting requirements.   Surety companies underwrite bonds expecting to have zero losses, surety bonds are a means of prequalifying not insurance.  When a surety company issues a bond, they are essentially announcing that this company is qualified to perform the work needed to successfully complete the project.  This is necessary to order to protect the public interest in projects that are funded through tax dollars.  The surety bond is a guarantee that the contractor will complete the project for the amount quoted and on time.  As a contractor looking for bonding, its important to differentiate between an insurance specialist and a surety bond specialist because it can make the difference of being approving for a bond.  A surety bond specialist knows all the rules and standards of the industry, so they can apply them as necessary for every situation.




Apply to Get Your Surety Bond Now

Get started with the bond application process today.

Most bonds are fully processed within 1-2 business days. In some cases, you'll hear back from Surety1 within hours!



3 thoughts on “Why have Surety Bonds in Construction?”

  1. Surety1 says:

    Thanks for the kind comments

  2. Lucienne says:

    I have been asked more and more to provide performance and payment bonds on my construction projects and now I understand why.

  3. Kenny says:

    This is very interesting, You are a very skilled blogger.

    I’ve joined your rss feed and look forward how to find your
    Seeking more of your fantastic post.
    Also, I’ve shared your web site in my social networks!

Leave a Reply

Your email address will not be published. Required fields are marked *