CaliforniaContractorBonds.com to Offer Amtrust Financial's New Contractor's License Bond Program
July 12, 2012 Business News(PRLEAP.COM) CaliforniaContractorBonds.com is excited to announce the addition of Amtrust Financial as a preferred surety partner for California contractor license bonds. Amtrust Financial, an "A" rated insurer by A.M. Best, recently acquired Builders & Tradesmen Insurance Services and is entering the California license bond arena with a very competitive bond program targeting a broad range of contractors with good and bad credit profiles. While Amtrust may be new to the California contractor license bond arena, they have extensive experience working with contractors as part of their general liability insurance program. The addition of Amtrust to the California marketplace should come as welcome news for contractors looking for a competitive bonding alternative, many of which have experienced dramatic increases in their license bond premiums over the past few years.
Amongst some of the key benefits of Amtrust's license bond program is the ability to bond all types of contractors including those with pool or roofing classifications. The program also offers exceptional pricing for contractors with marginal credit, bankruptcies or other credit blemishes. For those that qualify, Amtrust also offers contractors the option of adding a cosigner that can reduce license bond rates to as low as $365 for the year. While no individual surety is likely to have the lowest rates for all types of contractors, the addition of Amtrust Financial is likely to increase competition amongst all sureties, ensuring each is offering the most competitive license bond rates possible.
License bond rates in California are heavily driven by credit scores in addition to multiple other factors. In addition to shopping multiple carriers for competitive rates, contractors may be able to lower their license bond premiums through several factors within their control. For those with poor credit, a credit counselor may be able offer suggestions to improve credit scores, as every few points can be pivotal in achieving lower rates. In some circumstances, a 10-15 point swing in ones credit score can lead to bond savings of $500 or more per year. For other suggestions on lowering license bond costs, please review the tips and advice articles located at www.californiacontractorbonds.com/blog
For more information on California contractor license bonds, please click here. You can also contact CaliforniaContractorBonds.com at 1-800-993-0145, or visit their website at californiacontractorbonds.com