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Contractor Bonds

Tennessee Contractor Bonds

Multiple contractor classifications and cities in Tennessee require a contractor license bond to be licensed. These bonds protect consumers from any damages caused by the contractors, such as faulty wiring. They also protect the obligee (government entity requiring the bond) from any claims due to said damages.

Tennessee Contractor Bond Requirements

Various contractor classifications within Tennessee require contractors to obtain a surety bond. 

Home Improvement and Fire Protection Sprinkler System Contractor Bond Requirements

Home improvement and fire protection sprinkler system contractors are required by the Tennessee Department of Commerce and Insurance to obtain a $10,000 contractor bond. These bonds can be purchased instantly online for a $100 premium.

General Contractor Bond Requirement

General contractors in Tennessee are required to post either a $500,000 or $1,000,000 contractor bond. If a contractor's monetary limit is $1,500,000 or less, a $500,000 contractor bond is required. If a contractor's monetary limit exceeds $1,500,000, the $1,000,000 contractor bond must be obtained.

This bond in both amounts requires underwriting consideration, so the risk in writing the bond, bond application and the applicant's credit history must be reviewed before a quote can be issued.

City-Specific Contractor Bond Requirements

Various cities in Tennessee, such as Knoxville, Hamilton and Goodlettsville to name a few, require contractors of various classifications to post surety bonds in varying amounts. Most city-specific Tennesse contractor bonds can be purchased instantly online for as little as $100. Some are subject to underwriting, so an underwriter must review the bond application, credit score and financial history to determine the bond cost.