NJ Home Improvement & Home Elevation Contractor
To comply with the latest New Jersey contractor registration laws under N.J.S.A. 56:8-142, BondAbility offers the fastest and easiest way to secure your compliance bond, ensuring your business meets the state's updated requirements.
We have automated the bonding process by populating your information to ensure accuracy when ordering your bond.
How It Works
- Provide your NJ HICB/HECB registration/license number to check eligibility for preferred pricing
- Select your bond amount
- See your quote
- Review your information
- Securely pay for your bond
- Bond emailed to you. No shipping required.
- You're bonded!
Why Choose BondAbility
See your exact cost before you commit! Simply enter your NJ HICB/HECB registration/license number to see if you qualify for preferred pricing.
We have exclusive programs that allow us to bring you the best pricing and simplest bonding process in the marketplace. PERIOD.
All it takes is 30 seconds to complete our FREE, NO OBLIGATION approval right through our website.
No prompts, just people. When you call our office, you will speak with our live support team.
With 3 generations and almost 50 years writing surety bonds, we are here to help and appreciate the opportunity to earn your business.
Frequently Asked Questions
A New Jersey Contractor Compliance Bond is a type of surety bond required by the New Jersey Division of Consumer Affairs. It ensures contractors comply with state regulations and protects clients from potential misconduct or damages.
All Home Improvement and Home Elevation Contractor Businesses (HICBs and HECBs) are required to maintain a compliance bond as part of their registration process in New Jersey.
With BondAbility, most bonds are approved instantly, and you will receive your bond via email within 1 business hour.
If you are already a registered contractor in NJ, the fastest and easiest way to apply for your bond is to login above using your NJ HICB/HECB number. Don't have a registration number? No problem! You can apply here. The application process takes less than 30 seconds, and only a soft credit check is required.
The NJ Division of Consumer Affairs (DCA) is urging all contractors to take necessary steps to obtain the additional security now. We will issue your bond to cover your registration term and expire on March 31, 2026 so you are prepared when you renew your registration.
A compliance bond is one of the acceptable additional securities to renew your registration for your NJ Home Improvement Contractor Business. If you do not post an acceptable additional security, this could result in the loss of your NJ HICB registration.
Surety bonds and insurance serve different purposes. Surety bonds are a three-party agreement that guarantees one party (the principal) will fulfill their obligations to another party (the obligee), backed by a third party (the surety). In contrast, insurance is a two-party agreement designed to protect the insured against specific losses or risks. Importantly, surety bonds do not protect the bondholder; they protect the obligee if the principal fails to perform.
A surety bond is a guarantee provided by a surety company, requiring no collateral upfront and typically involving an annual premium. An ILOC, issued by a bank, requires the applicant to provide 100% collateral (or other guarantees) to secure the letter. While both are forms of financial guarantees, surety bonds are more cost-effective and flexible, as they preserve liquidity and free up working capital compared to an ILOC.
A surety bond is often required by law or contract and serves as a guarantee of performance or compliance. General liability insurance, on the other hand, protects against claims related to property damage or bodily injury caused by your business operations. Increasing general liability insurance cannot replace a surety bond because they address different obligations and risks. Surety bonds specifically protect the obligee and ensure compliance with legal or contractual requirements, which general liability insurance does not cover.