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What is a Roofing Contractor Bond?

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Finding a Contractor Bond for Roofers

If you’re a roofing contractor, you know how expensive it can be to bond your company.

Credit history determines bond pricing, and we sometimes understand bad things happen to good people.

You still deserve the lowest price on your bond, that is why we shop three different roofing contractor bond carriers and offer you our lowest quote.

Call us today or request a quote by completing the form to the right.

If you’re a homeowner looking to hire a roofing contractor, please take the following into serious consideration…

Many homeowners who intend to upgrade or install a new roof know that a roofing contractor they hire should be licensed, insured, and bonded. But did you know that very few people know what it means to have a bond?

A bonded contractor simply means that they have secured a set amount of money somewhere, available for you, the property owner if you happen to file a claim against them. However, that set amount of money is not in their control but the control of the state.  So simply put it, you can think of a contractor bond as an additional layer of protection when hiring a contractor.

So what is the importance and benefit of hiring a contractor with a roofing contractor bond?

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Roofing Bonds – Guarantee Work

As explained, a bond is meant to secure you as the property owner if the roofing contractor hasn’t completed the project as per your specification or as per the agreement. The bond is more like a binding between you and the contractor, so if the contractor fails to complete according to the agreement, he is bound to pay the expenses to finalize the job until you are satisfied.

The written contract, details everything from the scope of work, to the material to be purchased, and sometimes even the timeline for your project to be completed.  It will be much easier for you to hold a contractor accountable for things you find going wrong or not as per your specification.

Quality workmanship

You are more than likely going to encounter two or three contractors trying to offer you services that are cheap, sometimes too low to believe it when compared to an experienced contractor. But in this business, we always say that you will get what you pay for. Bonded contractors might be affordable, but they are not cheap, but the work on your roofing project will not be done by an amateur.

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Hiring a Bonded Roofing Contractor Guarantees Quality Workmanship

For a company to be bonded, they must provide personal and financial information about themselves, from their business plans to the description of work in progress. What this means is that a new, inexperienced roofing contractor may not be able to obtain a bond, and when they do, they will probably have what we call a limited bonding capacity. Therefore, if you hire a bonded company, there are 99 percent chances that you have left your roof on the hand of an experienced contractor.

In most states, there are implied warranties on roofing contractors for shoddy workmanship, which is why aside from the company being bonded you might want to make sure that they are licensed and insured. If you fail to do so, you may be giving your right to warrant any claims.

No additional costs in case of disputes

Everybody knows that life is capricious, and things in the construction industry can turn out the way you didn’t want, or the results are not as the contractor promised. So the whole point of hiring someone with a  roofing contractor bond is to protect you from any loss, mostly financial loss.

If the roofing contractor fails to perform, the bond ensures that you won’t incur loss or extra money if another contractor is brought in to complete the project. Other than that, the bond is a surety that no one will get away with your hard-earned money.

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Signals financial strengths

As noted previously, before any roofing contractor obtaining a license and bond, they participate in a dynamic prequalification process that analyses their financial strength and their construction expertise. A bond doesn’t just provide a homeowner with a guarantee of performance, but it also shows them that the contractor has the capability to withstand any risk which may come during construction.

 A bonded roofing contractor means they are licensed

A company looking for a Roofing Contractor Bond implies that they provided an active license when applying for the bond and have proper insurance in place.

You are much more likely to find an ethical contractor who stands behind their work at all times by following the above-mentioned outline.

It is a costly experience for a roofing contractor to acquire a bond, and the may be transferred to you in one way or another, but consider the many benefits. Hiring a roofing contractor who is bonded and insured protects you if they fail to complete the job or any other complications arise during construction.

Be sure to check the contractor’s state license board in your state to verify the next contractor you hire for your construction project is qualified.

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