New York Manufactured Home Installer Bond
AmeriPro Surety Bonds | 844-589-9732
Licensing; Purpose of the Surety Bond Requirement
Installers of manufactured homes in New York state are required to obtain a $10,000 surety bond as a prerequisite for licensing.
The bond is one of several offered for businesses in the manufactured housing field. There is the $50,000 bond required of manufacturers; the $25,000 bond required of retailers; and the $5,000 surety bond required of mechanics.
If you happen to offer servicers in more than one of the above categories, you are required to obtain only the higher surety bond amount.
As with the other categories, the purpose of this surety bond is to serve as a financial guarantee that you’ll be in compliance with Article 21-B, of the state’s statutes, as amended.
Included in this besides observing all laws is the guarantee that any fines, penalties, levies, or judgments rendered against you or any employees will be paid.
Qualifying and the Premium
You are automatically approved for the $10,000 New York manufactured home installer bond. There is no underwriter review nor credit check inquiry.
The premium is 3%, $300 annually.
When you call us, we’ll ask you the basics: The name of your business or your name as it should on the surety bond. Then we’ll need, of course, your address, phone number, and email address.
After payment of the $300 premium, our agency issues your installer home surety bond to you immediately. Included with your original documents will be a Power of Attorney form.
We will have your bond notarized as Surety; upon receipt, you’ll have your bond notarized as Principal.
You’ll file all completed documents to:
New York Housing Association, Inc.
634 Watervliet Shaker Road
Latham, NY 12110
Premium Prepayment Options
Your manufactured installer home surety bond is issued with a standard term of one year.
You may choose to prepay your bond’s premium up to 3 years, thereby lengthening the time between renewals and offering you a savings at the same time.
The premium prepayment options and savings are as follows:
- If prepaid for 2 years, the premium is $540, a $60 savings;
- If prepaid for 3 years, the premium is $780, a $120 savings.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit — including manufactured homes surety bonds where required in all 50 states.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you…