If you want to become an electrician in the state of New Jersey you will first need to get your license. Here are some simple tips to get your license so you can get to work.
Before applying for your license, you need to have at least 8,000 hours of experience doing electrical work and 576 hours of classroom training time. At least 4,000 of your experience hours need to have been done in the last 5 years. You will then be required to pass a test to prove the skills you have learned as well as knowledge of the rules and regulations.
You are required to obtain $300,000 of general liability insurance as well as a $1,000 surety bond.
What is a New Jersey Electrician Surety Bond?
An electrician bond is a sort of guarantee that you will operate your business by the regulations and rules set up by the state of New Jersey. You can purchase a bond from a surety company. If one of your customer believes that you have acted outside of the states rules and regulations, the customer may file a claim on your bond. The surety company you bought your bond from would then investigate the claim, and then if the company finds the claim valid they would pay out to make restitution to the customer. Of course, in the end it is your responsibility to pay back the surety company.
How Much Will My Bond Cost?
The price you pay for your bond will be a percentage of your total bond amount. The percentage will be determined largely based on your personal credit score. Typically the percentage will be somewhere between 1-15%.
If you are ready to purchased your New Jersey Electrician Bond and get on your way to being a licensed electrician, Surety Solutions can help. We offer free online quotes for your bonds from over 30 different surety companies so that you can find the best price, just click the button below.