West Virginia Contractor License Bonds

Get Your West Virginia Contractor Bond

Who Is Required To Purchase a West Virginia Contractor Wage Bond?

At a high level, any contracting business that has employees who live in West Virginia. However, there are a number of exemptions.

These exemptions are:

• The construction company's work is limited to single family homes and/or family farming enterprises
• The company or contractor does not have employees working within the state
• The company has employees living in the state but has been in operation for at least one year
• The company has been in business in another state for at least 5 years
• The company has at least $100,000 in available assets
• The company is a subsidiary of a parent who's been in business for at least 5 years

The bottom line is:

If you're a new contracting business, not working on single family homes, and you hire employees who live in West Virginia, you have to hold this wage bond for at least one year.

The West Virginia Contractor Wage Bond Amount

The bond amount is the maximum financial protection given to the employees covered by the bond.

The bond amount is calculated by:

• Taking 4 weeks of payroll at maximum capacity
• Adding 15% of that amount

For easy math, let's assume your maximum capacity payroll for 4 weeks of work is $10,000

• $10,000 maximum capacity payroll
• 15% is $1,500
• $11,500 would be the minimum bond amount

Why is a West Virginia Contractor Bond Required?

It unfortunate but every year there are contractors who hire local help and purposefully:

• Fail to pay for services rendered
• Pay the wrong amounts to their employees

This bond protects the employees in these events. If a contractor is guilty of these or similar actions, the employees can make a claim against the bond for financial compensation.

This is why the bond amount is based on 4 weeks of payroll.

How Much Does an West Virgina Contractor License Bond Cost?

The price of a contractor wage bond will be credit driven. This means the price you pay will be determined by:

• Personal credit
• Contracting experience and industry experience
• Any prior bond claims if you've been licensed in the past

Based on these factors, a surety will quote a rate and this rate multiplied by your bond amount is the price you pay.

A surety is a special insurance company that underwrites contractor wage bonds.

At Surety Bonds Direct, we are a specialized surety agency. We work with multiple A-rated sureties to find you the lowest possible price.

Example Pricing Based On a $11,500 Bond Amount

Let's look at example pricing based on typical rates we see when serving our customers.

These prices are one payment for a 12 months bond term. Once your bond term is over, you no longer have to renew your bond.

Getting a lower rate can save you potentially hundreds of dollars that you can put towards operating expenses or permitting fees.

We will price shop for you and get you pricing at no cost. Plus, you're under no obligation to purchase once you get pricing.

Get started right now by completing our online quote form. Once you have your bond amount (based on your payroll), it only takes 90 seconds to complete a quote request.

If you prefer, you can call a bond specialist at 1-800-608-9950.

What Happens After You Purchase Your Bond?

Once you get pricing and you're ready to purchase, all you have to do is complete an online checkout form.

After your payment is processed, our bond issuance team will prepare your bond with:

• The correct bond form
• The required signatures and seals
• The power of attorney

This is important as there are two different bond forms, one for sole proprietorships and another for companies. It's important to have the correct form or your bond will be rejected.

We will deliver your bond so you can have it filed with the West Virginia Department of Labor.

Renewing Your Contractor Bond

Remember, the Department of Labor only requires you to have this bond for 12 months.

Once your bond term is over you can just let it expire.

If a contractor or company is guilty of financially harming employees, it's likely you will need to purchase a larger bond after all claims are settled.

This will be determined by the Department of Labor on a case by case basis.

Do You Require a Contractor License Bond For a Neighboring State?

If you perform contracting work in neighboring states, you may be required to purchase a contractor license bond.

Learn more about the states that matter to you:

• Ohio contractor bonds
• Kentucky contractor bonds
• Pennsylvania contractor bonds
• Virginia contractor bonds
• Maryland contractor bonds

Contractor Bonds And Getting Your West Virginia Business License/Registration

The West Virginia contractor licensing process is straightforward.

Here are the links you'll need to learn about the process and get all the required forms you'll need.

Applying for a contractor license

All required contractor licensing forms

If you're required to purchase a contractor wage bond, click below and request your quote.

Call us if you have any questions.