# Lost our Contractor's Bond - Help



## RoofersWife (Apr 14, 2010)

Hello,
My husband and I were licensed roofing contractors in California. Without going into a long story, we lost our bond due to a pay-out. In California they require all roofing contractors to be bonded. We are now trying to get back into the business. 
Does anyone know if another bonding company will bond us or are we out of luck unless we pay back the bond pay-out?

Anyone been through a similar circumstance?

Thank you for your help!


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## Grumpy (Oct 29, 2008)

You'll probably jump down from a class A to a class B. Meaning your bond rates will go up. Unless something terribly disasterous happened, in which case maybe nobody will touch you. 

Just call around to multiple insurance agents who specialize in construction companies and start filling out applications. Often times the anticipation of what might go wrong is worse than what actually goes wrong. In other words, fill out applications. What's the worst that can happen? They say "No" and you move onto another. Someone will want your business.


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## peterjames (Apr 14, 2010)

Apply, for a new bond it will better for your business. Contractor will be required to pay premiums to keep the bond current, with the amount of the premiums varying, depending on the contractor's history and the amount of the bond. If someone wants to make a claim on a bond, he or she would contact the surety company and provide evidence to back up the claim, such as proof that a contractor had walked off a job, or ordered and used materials without paying for them


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## Sacramento Roofing (Sep 11, 2011)

I agree with Grumpy on this one. You're probably just going to have to call around and see who might be able to provide a quote with a claim on your bond. To be honest, I've never had a claim, but I heard it can be tough to get a bond if you do have one. A friend of mine had a claim and I think they mentioned these guys for a roofers bond. Maybe they can help. Sorry about your situation, let us know how it went. I'm sure a lot of other guys are in your same situation.


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