Is anyone Bonded for pressure Washing???

MikeF08

New member
I have been talking to a couple of companies that require all of their contractors to carry a bond (PM Companies, and a Real Estate company that deals mostly with foreclosed homes). My insurance company has told me that a contractors bond is not required by the state for what I do, and the companies that issue bonds don't usually issue them unless the state requires it (for some reason). The insurance company does however offer a bond that covers theft.

Anyone know if that is the type of bond they might be talking about. I have been trying to find out from the PM companies, but havnen't heard anything back.
 
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I am bonded as a contractor. It is easy and cheap enough to do. I would ask what type of bond the PM is looking for so that I got the right thing. The bonding company wqill issue you a bond if a customer is asking for it. I go through my insurance agent, but there are contractor bonding companies out there.
 
Thanks Scott....
Thats the type of bond I would think that they want, but my insurance agent doesn't seem to think so. I will definatly ask the PM what type of Bond. Does you Bond cover all jobs, or do you get Bonded for a specific job?
 
They may want a performance bond. Totally different. Pretty strange unless it's a big commercial job. Performance bonds are for each job. A performance bond kicks in if you get halfway through a job and quit or do a lousy job and refuse to fix etc. They can go after the bonding company to hire a replacement and get the job finished. If it's just a contractors bond those are pretty cheap. Many cities require bonding for general contractors license. Not all insurance companies write them. If you know any general contractors ask one.
 
They should provide it in writing so that you can make sure you get the right type of bond. Or they could use it as a nice guy vetting process. You know, "oh, you don't have a bond? we only hire bonded contractors." Tell them that as a condition of the contract you are willing to get a bond according to their spec's within 1 week. Otherwise the contract will be void.
 
Washington state requires that I carry a $6,000 specialty bond. It can be done through an insurance agent. Due to my ex trashing my credit I could not go through an agent and make payments... I had to post 6K in a dedicated savings account. That took away a large financial cushion from the get go. But you gotta play by the rules of your state.
 
A friend of mine once had to get bonded for a job he did and he had mentioned that he was able to get bonded for cheap for his job. The bond he got was good for that one job, and he mentioned it was called a surety bond!
 
Thanks for the input everybody. I will look into it a little more and see what I can find out. Our contact at the PM office didn't know what type of bond, but said he would look into it for us. He also said they never check for it, but I wouldn't feel comfortable working with them without it knowing they require it.
 
Joseph Walters was or maybe still is assoicated with PWNA. He has his own insurance agency . Old...but a good guy and he specializes in Pressure Washing. Last number i had is 412 831-8222. Bethel Park.Pa . Dan Cosgrove
 
If you are doing work asa Sub-S or LLC you will need a corprate surety bond. they are available thru any buisness carrier. If you have more than 2 years history as a state corperation and no criminal history a 50,000 bond cost $117.00 a year from Erie in VA. Other states and circumstances vary but check around.
 
I got bonded through my local bail bondsman all i had to pay was 10% of.... :eek: OH crap sorry wrong thread. LOL :D just kidding, This is a good topic because i was asked about beeing bonded on a fleet account i have. I was woundering the same thing.
 
I was bonded
I have been talking to a couple of companies that require all of their contractors to carry a bond (PM Companies, and a Real Estate company that deals mostly with foreclosed homes). My insurance company has told me that a contractors bond is not required by the state for what I do, and the companies that issue bonds don't usually issue them unless the state requires it (for some reason). The insurance company does however offer a bond that covers theft.

Anyone know if that is the type of bond they might be talking about. I have been trying to find out from the PM companies, but havnen't heard anything back.
 
I am, but it is typically a performance bond. The cost is about 1% of sales at the level i am.bonded at, but can be up to 10% of sales.
 
bid/performance/entry

bid bonds are better put in cash

performance are usually equal to the contract amount, although rarely needed in the pressure washing business unless alot of subs or rental company's will be used.

entry is issued for theft , generally you can use the set off amount of previous invoices to cover the amount of the bond.
 
If I am bidding on a performance bond project, the bid bond is free. They figure the performance bond covers everything, anyways.
 
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