Impact Insurance Solutions · Contractor bonds
Utah contractor bonds, without the runaround.
Impact Insurance Solutions helps Utah contractors get bonded: license bonds to start work, and bid, performance, and payment bonds to win and run projects.
Many bonds can be issued online instantly through Bond Exchange, whether it's a license and permit bond or a performance and payment bond on a project of $750,000 or less that qualifies on credit alone. Larger contract bonds go through our surety partners, with a named advisor who builds your submission and tells you what the underwriter will look at.
Bond types
Bonds Impact Insurance Solutions places.
| Bond | When you need it | Typical path |
|---|---|---|
| Contractor license bond | To get or renew a contractor license, where required | Online issuance through Bond Exchange |
| Bid bond | When you submit a bid on bonded work | Surety underwriting |
| Performance bond | After you win; guarantees you'll finish the job to contract | Online on credit alone up to $750,000; underwritten above that |
| Payment bond | After you win; guarantees subs and suppliers get paid | Online on credit alone up to $750,000; underwritten above that |
| Other commercial bonds | Permit, maintenance, or subdivision bonds | Online or underwritten through Bond Exchange |
A bond is a financial guarantee to the project owner, not insurance for you. If the surety pays a claim, it expects to be repaid by the contractor.
The process
How getting bonded works.
- Tell us the bond. Bond type, amount, the project or license, and the deadline. Provide a copy of the bid contract or a sample of the requested bond form.
- Quick bonds go out fast. Eligible license and small commercial bonds can be issued online instantly.
- Contract bonds get a submission. We gather what the surety needs and present your company in the best accurate light.
- We set up your bond line. For ongoing work, we work toward a single-job and aggregate limit so future bonds move faster.
- We grow it with you. As your financials and track record grow, we go back to the surety to raise your capacity.
Underwriting
What a surety will usually ask for.
- Company financial statements (CPA-prepared for larger programs) and recent tax returns
- A work-in-progress schedule and list of completed projects
- Owner personal financial statements and credit
- Bank line of credit details
- The contract or bid documents for the job
Partners and capacity
Who backs your bonds.
- Surety companies we work with: Avla, Crum & Forster, and Bond Exchange.
- Bond sizes we typically handle: performance and payment bonds up to $750,000 per project on credit only; larger contract bonds through surety underwriting up to $10M single project.
- Licensing: Utah agency license #1086924. Verify any agent on the Utah Insurance Department licensee search.
Questions
Utah contractor bond FAQ.
How fast can a Utah contractor get bonded?
License and small commercial bonds can often be issued online the same day. Bid, performance, and payment bonds depend on underwriting; with complete financials, 1 to 4 business days, depending on the contract requirements and how quickly underwriting gets the information it needs to complete its review.
What is the difference between a bid, performance, and payment bond?
A bid bond backs your bid. A performance bond guarantees you'll finish the work as contracted. A payment bond guarantees your subcontractors and suppliers get paid.
Can I get bonded with limited financials or a newer company?
Often yes, at smaller amounts to start. Performance and payment bonds up to $750,000 per project can qualify on credit alone. We'll tell you what the surety will need and how to build capacity over time.
Do you handle bonds for large construction projects?
Yes, through Crum & Forster. For large public or private projects, we prepare the submission and work directly with the surety underwriter.
Can you handle my insurance too?
Yes. Many contracts require bonds and insurance together, and keeping them with one agency helps certificates, limits, and endorsements line up. See Utah contractor insurance.
This page is general information only; not a bond, quote, or guarantee of approval. Bonds are subject to surety underwriting.