ICON offers bonding services and insurance at all of our schools through Contractors Center Insurance Agency. Both first time contractors who are just getting their license or established contractors who already hold a license can utilize this service.

Who needs to have a Bond?
All active contractors licenses must carry a license bond. Pursuant to legislation passed in 2003, the required amount of a contractor's bond increased from $7,500 to $10,000 on January 1, 2004, and increased again to $12,500 on January 1, 2007 for all contractors, including Pool Contractors. The only exception is Roofing Contractors. The increases also apply to contractors with a cash deposit on file with the CSLB in lieu of a bond. The increases do not, however, apply to bonds of qualifying individuals, which will remain at $7,500.

What is a bond exactly?
a damaged party, the bonding company will pay out to the limits of the bond. Once the bonding company has paid the damaged party, then the bonding company comes back to the bonded contractor to be repaid the amount of the claim. The contractor must pay the bonding company immediately or the bond will no longer be worth $10,000, and the contractors license that is connected to the bond is placed on a suspension until a new bond is established.

Who can make a claim against my bond?
Generally anyone who believes they are damaged, may make a bond claim, but not everyone who makes a claim will receive payment. Bonds are designed as a safeguard to the customer. Bonds are payable to customers if the contractor delivers poor quality workmanship (products and installation) or fails to complete the job. Additionally, claims may be honored from subs and suppliers who are not paid, as well as employees who are not compensated for their labor. Bonds are not general liability or workers compensation insurance.

How much will it cost to get a bond?
For first-time contractors who have just passed their exam, a $10,000 bond from CCIA will cost $229, except for Roofing (C39) and Swimming Pool (C53) bonds, which are not a fixed price and which you must obtain a quote forn. This is good for two years, after which it is your responsibility to renew your bond.

What kind of insurance can I get at ICON?
Currently we provide liability insurance, and we will soon be offering Workers Comp insurance as well. We will be happy to give you a quote – simply stop by or call us at your convenience, or......