Surety Bond Insurance for Businesses in OR & WA
Surety Bond Insurance Quotes Available | EPB&B Insurance – Portland, OR
Whether your business is based in Portland, OR or different state, Elliott, Powell, Baden & Baker (EPB&B) can help you navigate the Surety Bond market. We provide comprehensive help for all your surety bond needs including license bond, fuel tax bond, contractor bond, or performance and payment bond. Talk to our Surety Bond TeamWhat are Surety Bonds?
A surety bond is a promise to be liable for the debt, default, or failure of another. It’s a three-party contract by which one party (the surety) guarantees the performance or obligations of a second party (the principal) to a third party (the obligee). Industries that often require Surety Bond coverage are construction contractors, freight haulers, mortgage brokers, and auto dealers, among many others.
Get a Surety Bond Quote from EPB&B’s dedicated Surety Bond Team:
Your state may require a surety bond to satisfy licensing requirements, tax compliance, and other financial requirements. Contact EPB&B of Portland, Oregon, for information about your specific business situation.
Providing surety bonding protection requires an understanding of the business’s financials, contracts, and the surety bond market. Elliott, Powell, Baden & Baker Insurance has a dedicated surety bond team that will take the time to understand your risks and strive to protect you and your business. EPB&B has relationships with national surety companies as well as regional markets. This enables us to match your needs to the correct program. Contact our office for guidance on the right Surety Bond coverage, and we’ll provide the quote you need.
Specialized Surety Bond coverages can include:
FAQ’s
How much does a surety bond cost in Oregon? →
Most bonds cost 1% to 15% of the bond amount per year. A $10,000 bond could run $100 to $1,500. Simple license and permit bonds usually sit at the low end. Larger contract bonds are priced on your company’s financials and the job itself.
What affects the cost of my surety bond? →
Four things matter most: the type of bond, the bond amount, your personal credit, and for contract bonds, your business financials and work history. A clean claims record helps too. Because we work with national and regional surety companies, we can shop your bond to the market that prices your situation best.
What is the difference between a surety bond and insurance? →
Insurance protects you. A surety bond protects the party you owe something to, like a state agency, a project owner or a customer. If the surety pays a claim on your bond, you’re expected to pay it back. That’s why sureties look closely at credit and financials before they issue a bond.
How fast can I get bonded? →
Many license and permit bonds can be issued within a day or two once we have your application. Contract bonds like bid, performance and payment bonds take longer because the surety reviews your financials and the contract. If you have a bid deadline, call us early and we’ll tell you what we need to hit it.A bond is a broad financial instrument, while a surety bond specifically guarantees contract fulfillment. Unlike insurance, it protects the client, not the policyholder.
Do I need a bond for my Oregon contractor license? →
Yes. The Oregon Construction Contractors Board requires a surety bond to get and keep a CCB license. The amount depends on your license type and endorsement. We can set up your license bond and your contractor insurance together so you’re ready to work.Many license and permit bonds can be issued within a day or two once we have your application. Contract bonds like bid, performance and payment bonds take longer because the surety reviews your financials and the contract. If you have a bid deadline, call us early and we’ll tell you what we need to hit it.A bond is a broad financial instrument, while a surety bond specifically guarantees contract fulfillment. Unlike insurance, it protects the client, not the policyholder.
SAFETY ASSIST
Use our exclusive risk-management platform to develop a proactive risk management program. Access ready-to-use safety and training programs, an automated SDS manager, and software to help you manage certificates of insurance and track and trend incidents and claims.
CLIENT PORTAL
Through our website you can utilize Service 24/7, allowing you instant access to your account for immediate certificates, as well as the ability to view policies, track claims, submit questions, and more. 24 hours a day, 7 days a week.
DISCLAIMER
Some policies are different from what’s described here. Be sure to read and understand your individual policy or contact us if you have questions.
