Illinois Roofing Contractor Bond |
AmeriPro Surety Bonds | 844-589-9732
Illinois Roofing Contractors
Illinois roofing contractors are licensed and regulated by the Illinois Department of Professional and Financial Regulation.
There are two licensing classifications:
- A limited Illinois roofing contractor license for residents. This license requires a $10,000 surety bond;
- An unlimited Illinois roofing contractor license. This license requires a $25,000 surety bond.
Illinois Roofing Contracting Bond: The Premium and Duration
The Illinois roofing contractor bond’s premium will depend on whether you are required to purchase the limited or unlimited surety bond; whether you choose to prepay the bond for one or two years, and a standard score.
To give you an idea;
- The $10,000 limited roofing contractor bond will have a premium of $100 a year, or $180 if the bond is prepaid for two years.
- The $25,000 unlimited roofing contractor bond may have a premium as low as $250 for one year, and about $438 if the bond is prepaid for two years. This bond may be issued without a credit check; however, the premium will be $750.
In both bond amounts, the premium will renew annually or every other year.
The bond must be kept active at all times to remain in good standing with the Department.
Illinois Roofing Contractor Bond: The Purpose
Whether you require the limited or unlimited Illinois roofing contractor the bond, the surety bond’s purpose is the same:
It is a financial guarantee for the people of the state of Illinois that you as a licensed roofing contractor will abide by all state and local statutes which govern your roofing profession.
Such obligations also extend to any employees and agents of the roofing contractor.
The surety bond requirement protects those — specifically, the Illinois consumer –- from financial harm caused by a roofing contracting in the course of their duties.
Because it is a guarantee for the consumer which you as the bond’s principal are required to purchase, it is therefore not an insurance policy. It really is a surety.
Therefore, if any claims are paid on your Illinois roofing contractor bond for failure to fulfill some legal provision, it is your legal responsibility to reimburse the surety in full for all costs and fees in the settlement of your claim.
AmeriPro Surety Bonds provides contractor license bonds throughout Illinois. We also provide license and permit, court, and fiduciary bonds in Illinois and nationwide.
The Illinois roofing contractor bond is easy to qualify for.
You may call us today and we can accept your application directly over the phone: