Surety Bonding Solutions
Built For Contractors
Midwest Contractor Surety Bonds
As a growing contractor, bonding is either a roadblock or a key to unlock growth and development opportunities for your business. Having the support and financial backing of a trusted surety company is crucial to your success. Most surety companies will passively review your financials and assign limits based on their current comfort. At Apex Insurance Solutions, we partner with surety companies who aren't scared to roll up their sleeves and work with us to create a path to larger limits, better rates, and faster issuance.
Industries We Serve
We proudly serve contractors across a wide range of industries, offering specialized insurance solutions built to address
the specific risks faced by each trade. Our team has experience working with businesses in:
Plumbing Contractor Insurance
HVAC Contractor Insurance
Electrical Contractor Insurance
Masonry Contractor Insurance
Concrete Contractor Insurance
Paving Contractor Insurance
Landscaping Contractor Insurance
Excavation Contractor Insurance
Grading Contractor Insurance
Utility Contractor Insurance
Comm Roofing Contractor Insurance
Sheet Metal Contractor Insurance
Glass & Glazing Contractor Insurance
Fire Sup Contractor Insurance
Drywall Contractor Insurance
Painting Contractor Insurance
Flooring Contractor Insurance
Cabinetry Contractor Insurance
Fencing Contractor Insurance
Cleaning Contractor Insurance
And More...
Plumbing Contractor Insurance
HVAC Contractor Insurance
Electrical Contractor Insurance
Masonry Contractor Insurance
Concrete Contractor Insurance
Paving Contractor Insurance
Landscaping Contractor Insurance
Excavation Contractor Insurance
Grading Contractor Insurance
Utility Contractor Insurance
Commercial Roofing Contractor Insurance
Sheet Metal Contractor Insurance
Glass & Glazing Contractor Insurance
Fire Suppression Contractor Insurance
Drywall Contractor Insurance
Painting Contractor Insurance
Flooring Contractor Insurance
Cabinetry Manufacturing Insurance
Fencing Contractor Insurance
Cleaning Contractor Insurance
And More...
Surety Bonds
Built for Contractors
Bid Bonds for Contractors
Bid Bonds provide a guarantee to the project owner that the contractor will enter into contract at the terms of their bid.
If the contractor fails to fulfill their obligations, the bond ensures that the project owner is compensated to cover any immediate costs associated with finding a new contractor.
Payment Bonds for Contractors
Payment Bonds provide a guarantee to the project owner that the contractor will pay all suppliers, subcontractors, and laborers for materials and work completed on the project.
In the event that a contractor fails to meet their payment obligations, the payment bond acts as a safety net for the project owner, providing those owed with the agreed upon compensation, thus avoiding any lien filings on thier project.
Performance Bonds for Contractors
Performance Bonds provide a guarantee to the project owner that the contractor will perform the contract according to its terms and conditions.
If they fail to do so, the surety company is responsible for completing the contract obligations, either by securing a new contractor to complete the job or by financial compensation.
Maintenance Bonds for Contractors
Maintenance Bonds, also called Warranty Bonds, provide a guarantee to the project owner that any material or workmanship defects discovered in the original construction will be repaired during the warranty period.
If repair or replacement is needed within the warranty period and the contractor does not complete the work, then the surety company will compensate the project owner for any expenses they incurred.
License Bonds for Contractors
Contractor License Bonds, also called Contractor Bonds, guarantee a contractor will operate ethically and comply with local licensing regulations.
Many states, counties, and cities require businesses to provide a contractor license bond in order to qualify for a contractor license in their jurisdiction.
Surety Bonds
Built for Contractors
Bid Bonds
Bid Bonds provide a guarantee to the project owner that the contractor will enter into contract at the terms of their bid.
If the contractor fails to fulfill their obligations, the bond ensures that the project owner is compensated to cover any immediate costs associated with finding a new contractor.
Payment Bonds
Payment Bonds provide a guarantee to the project owner that the contractor will pay all suppliers, subcontractors, and laborers for materials and work completed on the project.
In the event that a contractor fails to meet their payment obligations, the payment bond acts as a safety net for the project owner, providing those owed with the agreed upon compensation, thus avoiding any lien filings on thier project.
Performance Bonds
Performance Bonds provide a guarantee to the project owner that the contractor will perform the contract according to its terms and conditions.
If they fail to do so, the surety company is responsible for completing the contract obligations, either by securing a new contractor to complete the job or by financial compensation.
Maintenance Bonds
Maintenance Bonds, also called Warranty Bonds, provide a guarantee to the project owner that any material or workmanship defects discovered in the original construction will be repaired during the warranty period.
If repair or replacement is needed within the warranty period and the contractor does not complete the work, then the surety company will compensate the project owner for any expenses they incurred.
License Bonds
Contractor License Bonds, also called Contractor Bonds, guarantee a contractor will operate ethically and comply with local licensing regulations.
Many states, counties, and cities require businesses to provide a contractor license bond in order to qualify for a contractor license in their jurisdiction.
States Covered
Proudly serving contractors across the Midwestern United States
KS
MO
CO
NE
Liberty, MO
Our clients say it best.
★★★★★
"Apex stepped in and helped SCA obtain GL & Professional Liability in record speed for our owner’s representation firm for construction advisory. They have been a tremendous resource of knowledge and are prompt to respond to any questions our firm has had going through the process. We appreciate and will continue to support the Apex team as our business continues to grow."
Jeremy N.
Switchgrass Construction Advisors
★★★★★
"I would recommend Apex and their team to anyone looking for insurance for their small business. Apex stepped in our lives and saved us thousands of dollars. We planned to renew with our previous provider thinking it was the right move, but we quickly realized what a great benefit we would see by switching. Not only is saving money a great benefit, but their small business mentality aligned perfectly with ours. Denzel and the team are very easy to work with and their customer service is amazing! They are quick to respond to questions or concerns, and explain everything in a way that actually makes sense!"
Jamie N.
DreamMaker Bath & Kitchen
★★★★★
"I had the opportunity to work alongside the team at Apex, and I was thoroughly impressed. Their professionalism, responsiveness, and clear communication stood out from the start. It’s easy to see why so many businesses trust them for their insurance needs. I’d confidently recommend Apex to anyone looking for knowledgeable and reliable service. Great people doing great work."
Brad S.
AutomationLinks
★★★★★
"Apex and its employees provide exceptional knowledge of the insurance products that are tailored to your business needs. Apex has excellent response time and attentiveness when you have a concern or any business circumstances that arise."
Cindy H.
Urban Electric & Lighting
Frequently asked
questions
What is a surety bond?
It is a legally binding contract between three parties:
- Principal: purchases bond to guarantee work performed. The principal is responsible for fulfilling the obligation and if unable to perform, they must pay monetary damages to the obligee.
- Surety: insurance company providing the bond. The surety promises the fulfillment of the principal’s obligation to the obligee. In the event of the principal’s failure to fulfill the obligation, the surety is obligated to complete the work or compensate the project owner for financial loss.
- Obligee: the entity requiring the bond. The obligee is the party to whom the principal owes the obligation and is the beneficiary of the agreement. The obligee is responsible for payment to principal upon fulfillment of terms in the contract.
I already have business insurance. Is this something different?
Yes, although they are typically sold and distributed by the same companies, surety bonds differ from insurance in many ways:
- Insurance protects the person who buys the insurance.
- Surety bonds protect the obligee (the person who requires the bond).
- Surety Bonds are a non-traditional insurance product.
- Surety bonds are similar to bank credit.
- Surety bonds provide assurance the contractor can complete the project and pay bills.
What financial information do I have to provide to the surety?
This depends on the size of the individual bond or your desired aggregate bonding capacity. Some bonds can be underwritten solely by your personal credit score, while higher limits will require audited financial statements and supplemental information.
Do I have to provide updated information every time I need a bond?
No, we'll help you get prequalified and establish an aggregate bonding capacity with the right surety company for your business. Once this limit is set, they will not require additional documentation within these limits.
How can I improve my bonding rates and capacity?
Common tips for improving your bonding rates and capacity are:
- Establish a partnership with a single surety company and build trust through communication and commitment.
- Provide subcontractor, supplier and owner references.
- Provide proof of your ability to meet current and future obligations, both from a financial and backlog perspective.
- Show successful completion of experience relative to the contract requirements for a given project.
- Maintain necessary and adequate equipment and staffing.
- Establish and maintain financial strength to support the desired work program.
- Build internal accounting and job costing capabilities.
Our surety specialist will review your current financial situation and give you a step-by-step approach to acquire the limits you need to land larger projects and continue growing your business.
How quickly can you issue a bond?
Some bonds, like license bonds or lower limit payment and performance bonds, can be issued instantly upon request.
Higher limit bonding requires pre-approval, much like financing pre-approval from your bank.
We suggest going through the prequalification process to determine how much bonding capacity you qualify for before bidding on jobs that require bonding.
