New Jersey Home Elevation Contractor Bonds

New Jersey Home Elevation Contractor Bonds

We write Home Elevation Contractor Surety Bonds in New Jersey.
Our GOOD CREDIT price starts at $100!

Click for a No Obligation Quote

Quick and Reliable Bond Solutions for New Jersey Contractors

To comply with the latest New Jersey contractor licensing laws, Bondability offers a fast and easy way to secure your compliance bond, ensuring your business meets the state’s updated requirements. With Bondability, you get:

• Simple Online Application: Apply for your bond with ease—no lengthy forms, no hassle.
• Competitive Rates: Affordable options for $10,000, $25,000, and $50,000 compliance bonds based on your contract values.
• Instant Approval & Fast Delivery: Get approved quickly, and receive your bond via email within 1 business hour.

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Why Contractors Choose Bondability

Starting January 8, 2024, all Home Improvement and Home Elevation Contractor Businesses (HICBs/HECBs) in New Jersey are required by law to maintain a compliance bond or other security to keep their licenses valid. With Bondability, you can ensure that your business remains compliant with the new requirements, so you stay focused on what matters—your business.

What You Need to Know About New Jersey’s New Contractor Requirements

In response to P.L. 2023, c. 237 signed by Governor Murphy, the Contractors’ Business Registration Act was amended to enforce new insurance and bonding standards. To operate legally in New Jersey, all HICBs and HECBs must have:

1. Workers’ Compensation Insurance (unless legally exempt)
2. Commercial General Liability Insurance:
   • Minimum of $500,000 per occurrence for HICBs
   • Minimum of $1,000,000 per occurrence for HECBs
3. Additional Security Requirement (compliance bond, irrevocable letter of credit, or other security)

Compliance Bond Requirements

To meet the state’s bonding requirements under N.J.S.A. 56:8-142, you’ll need a bond in one of these amounts:

• $50,000: For contracts over $120,000 or yearly contracts totaling at least $750,000
• $25,000: For contracts between $10,000 and $120,000 or yearly contracts totaling $150,000–$750,000
• $10,000: For contracts under $10,000 or yearly contracts totaling less than $150,000

Existing registrations expire on March 31, 2025. Renewal applications will be available in January 2025, so now is the time to ensure you have the required coverage and security. Visit the New Jersey Licensing Portal to submit your renewal.

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Start Your Bond Application Today with Bondability

Don’t risk delays or denial of your registration renewal. Choose Bondability for your compliance bond needs and experience the ease and reliability our clients count on.

Additional information about this corporate surety bond requirement is as follows:

Obligee - New Jersey Division of Consumer Affairs
Bond Amount - Set by the Obligee
Bond Premium - Starts at $100
Renewal Document - Renewal/Continuation Certificate required.

Click on the No Obligation Quote button to complete our simple, one-page online bonding application. Completing the following application allows the underwriters at BondAbility to provide you with a specific quote for the exact bond you need. After you submit our online application, we will respond with your personalized quote within the hour!

Contact Info

First Name *

Last Name *

Email *

Phone *

Fax

I am an ...

Insurance Agent

Applicant

Attorney

Other

Next

Applicant Info

Applicant Name (Exactly as to appear on bond or license) * _{Most Obligee's require that the name on the Bond EXACTLY match your license or license application.}

Type of Entity

Sole Ownership

Corporation

Partnership

LLC or LLP

Business Address *

City *

State * Select your State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Dist of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

Zip Code *

Do you have or need other bonds

Effective Date *

Bond Amount *

Please indicate any ownership changes in the last 12 months

Previous surety (if any)

Reason for changing surety

Has the business or any of the owners been involved in:

Had any lawsuits, liens or judgements against them?

Yes

No

Ever failed in business or declared bankruptcy?

Yes

No

Ever been convicted of a crime?

Yes

No

Ever had their business license suspended, revoked or denied?

Yes

No

Ever been party to a surety bond claim?

Yes

No

Ever had a bond declined or cancelled?

Yes

No

If yes to any, please explain

Next

Personal Info

Add Another Owner

Next

Additional Documents

If there are documents that you would like to upload for our review, please upload them below

Add Another File

By submitting this Application, the owners listed above hereby authorize BondAbility, (including any of its representatives affiliates, agents or designees) to conduct any and all investigative inquiries including but not limited to obtaining consumer credit reports. Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false, incomplete, or misleading information, or conceals information concerning any material fact whereto, commits a fraudulent insurance act, which is a crime punishable by incarceration, and shall also be subject to civil penalties

Please check the box above.

Submit Application