Anyone who wants to work as a plumbing contactor in the state of Idaho needs to first get licensed though the Idaho Division of Building Safety. Here are a few easy steps to help you get on your way to starting your new business as a plumbing contractor.
In order to get your plumbing contractor license in Idaho you will need to have 2 1/2 years previous experience as a plumber. If you meet that requirement then you will need to:
Step #4: Purchase a $2,000 plumbing contractor bond
Step #5: Pay $75 licensing fee
What Is An Idaho Plumbing Contractor Bond?
A plumbing contractor bond is a type of surety bond that acts as a guarantee to your customers and the state of Idaho that you will follow the rules and regulations set for plumbers.
If you fail to comply with all these regulations, one of you customers may file a claim on your bond. The surety company that you purchased your bond from would then investigate the claim and if the claim is valid would pay out on your bond up to the full amount.
In the end, you are responsible for paying back the surety for any losses.
How Much Does a Plumbing Contactor Bond Cost?
In Idaho, contractor bonds are in the amount of $2,000, but that is not the price you actually pay to purchase your bond. The price you pay out of pocket is a percentage of the full bond amount determined largely by your credit score and business financials. If you have a decent credit score your bond should only cost you between 1% and 5% of your total bond amount.
Want to see how much a Plumbing Contractor Bond would cost you?
How Do I Purchase a Bond?
Surety Solutions offers free online quotes for plumbing contractor bonds from over 30 different surety companies so that you can find the best price out there. If you are ready to get a quote and/or purchase just click the link below or give us a call at 866.722.9239.