insurancesolutions Apr 7, 2009 12:50 PM
What is a good premium percentage for a performance bond. I am new to bonds, but I am working on a $2 million performance bond for a contractor with good financials, and a lot of assets. I have never done a bond like this before and I would like to know what would be considered a good deal for this bond.
fdellaperuta Apr 7, 2009 3:27 PM
Standard surety rates are typically 2.5% first $100K; 1.5% next $400K; 1% next $2M
insurancesolutions Apr 14, 2009 2:34 PM
I have gotten quotes back for much higher than that calling themselves standard. Any one know a good place to get bonds like this?
YourBondSource Apr 14, 2009 2:38 PM
fdellaperuta is correct that the sliding scale noted is a "typical" rate scale. However, there are many factors including type of work, location of project, quality of the financial presentation, etc. Don't put yourself in the corner and quote a firm rate until you have an offer from a qualified Surety.
YourBondSource Apr 22, 2009 1:37 PM
My office operates as a Bond Wholesaler. Please contact me so we can discuss your client, the project and offer. I look forward to hearing from you.
Matthew Wilkoff, Gerald J. Wilkoff, Inc., matthew@wilkoffbonds.com, 516-747-0200, 800-85-BONDS
