Maryland Home Improvement Contractor Bonds
Fast & Affordable MHIC Surety Bonds for Maryland!
Click for a No Obligation Quote
Maryland Home Improvement Contractor Surety Bonds (MHIC bonds) are mandatory financial guarantees required by the Maryland Home Improvement Commission (MHIC). Contractors who do not meet the Home Improvement Guaranty Fund's financial criteria must obtain this home improvement surety bond as an alternative to contributing to the fund. See MHIC details on financial solvency requirements.
What You Need to Know About Maryland Home Improvement Contractor License Requirements
To obtain or renew your Maryland Home Improvement Contractor license, contractors must satisfy MHIC's financial responsibility criteria. Contractors who don't meet these standards are required to secure a $30,000 home improvement contractor bond. This surety bond guarantees compliance with Maryland state regulations for home improvement projects.
Quick and Reliable Bond Solutions for Contractors
BondAbility specializes in providing fast, dependable, and competitively-priced MHIC contractor bonds. Our straightforward online bond application ensures prompt approvals, even for contractors who may have credit challenges.
- Instant online MHIC bond applications
- Rapid approval and bond issuance
- Specialized programs for contractors with credit issues
- Established relationships with multiple surety providers
MD HIC Pricing
We provide competitive pricing tailored specifically to your qualifications:
| Bond Amount | Term Length | Best Available Price |
|---|---|---|
| $30,000 | 2 Years | $525 |
99% of our applicants qualify for this preferred rate!
Note: The premium of $525 for two years is available to applicants with good credit. Actual bond premiums may vary based on your credit history and underwriting criteria.
Why Contractors Choose BondAbility
- Easy-to-use online bond applications
- Fast bond issuance and convenient email delivery
- Competitive bond pricing through our extensive surety network
- Dedicated, expert support during the bond application process
- Solutions available even if previously declined or non-renewed by other surety companies
Frequently Asked Questions (FAQ)
Who requires the Maryland Home Improvement Contractor bond?
The bond is required by the Maryland Home Improvement Commission (MHIC).
What is the bond amount and term length?
The required bond amount is $30,000, covering a two-year license term.
How much does the MHIC bond cost?
Premiums start at $525 for two years for qualified applicants.
Can I obtain an MHIC bond with bad credit?
Yes, we offer specialized bond programs and competitive rates for contractors with less-than-perfect credit.
What if I was previously declined or non-renewed?
We have bond solutions for contractors who've been declined elsewhere. Please contact us directly for personalized assistance.
Additional Resources for Home Improvement Contractors
- Maryland Home Improvement Commission (MHIC) Website
- Maryland Home Improvement Statute Information
- Original and Follow-up Documents for MHIC Contractors
Bond Details at a Glance
- Obligee: Maryland Home Improvement Commission (MHIC)
- Address: 500 North Calvert Street, Baltimore, MD 21202
- Bond Amount: $30,000
- Renewal Document: Renewal/Continuation Certificate Required
Let BondAbility simplify your Maryland Home Improvement Contractor bond process today!