Bid, performance, and payment bonds that guarantee your obligations — and open doors to contracts that require bonded contractors.
Overview
A surety bond is a three-party agreement in which an insurance company (the surety) guarantees to a project owner (the obligee) that a contractor or business (the principal) will fulfill their contractual obligations. Unlike insurance, a surety bond protects the project owner — not the contractor — but being bonded is often a legal or contractual requirement to bid on public and private projects. Diaz Risk Advisors helps contractors and businesses get bonded quickly and at competitive rates.
Why It Matters
Many public projects — and an increasing number of private ones — require contractors to be bonded before they can even submit a bid. Without a surety bond, you're locked out of a significant portion of the market. Beyond compliance, being bonded signals to clients that you're financially stable, reputable, and committed to completing what you start.
Is This Right for You?
General contractors bidding on public or government projects
Subcontractors required to be bonded by a general contractor
Construction companies working on federally funded projects
Businesses required to carry a license or permit bond
Service companies handling client funds or property
Any contractor looking to expand into bonded project work
Common Questions
Insurance protects you (the policyholder) from losses. A surety bond protects the project owner or obligee — if you fail to perform, the surety pays the claim and then seeks reimbursement from you. Bonds are a financial guarantee, not a transfer of risk.
Bond premiums are typically 1–3% of the bond amount for contractors with good credit and financials. The exact rate depends on the bond type, bond amount, your credit history, and your business financials. We shop multiple surety markets to find the best rate.
Many smaller bonds (license/permit bonds and smaller contract bonds) can be issued same-day or within 24–48 hours. Larger performance and payment bonds may require financial review but we work to turn them around as quickly as possible.
Credit is a factor, but it's not the only one. Sureties also look at your business financials, experience, and the size of the bond. We work with multiple surety markets, including those that specialize in contractors with less-than-perfect credit.
As an independent agency, we shop multiple carriers to find you the best rate. No obligation — just honest advice.
Hablamos Español · Serving Miami-Dade Since 2006