Maryland Home Improvement Contractor Bond
One of the licensing requirements to get your Maryland Home Improvement license is having a $30,000 net worth. If you can't meet this requirement, you can purchase a surety bond instead.
This bond is referred to as the Maryland Home Improvement surety bond. This video will help you understand what a surety bond is and why this bond requirement exists.
Check the timestamps below if you want to jump around. If you have any questions, ask in the YouTube comments and I'll personally answer you.
- 00:12 - Video agenda
- 00:33 - The Guaranty Fund
- 00:52 - Reasons a claim can be made against a contractor
- 01:06 - The Guaranty Fund process
- 01:26 - The home improvement surety bond
- 01:48 - The home improvement surety bond amount
- 02:23 - The home improvement optional surety bond requirement
- 02:50 - The home improvement surety bond cost
- 03:04 - The factors that determine a surety bond's price
- 03:22 - The role of a specialized surety agency
- 03:37 - Home improvement surety bond price examples
- 04:00 - Renewing your home improvement surety bond
- 04:25 - Do you have any questions about the bond process?
Maryland Home Improvement License Process Explained
There might be some steps to getting your Maryland Home Improvement license that are 100% new to you. This article will explain them all clearly.
Learn what it means to be a bonded contractor along with the different types of contractor bonds. There are a lot to you'll have through your career.
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