Affordable Surety Bond Quotes | Orbit Insurance Services

Guaranteeing your obligations

What types of bonds can I secure?

Surety bonds protect your clients, the public, and government entities, ensuring that you fulfill your contractual and legal obligations.

Contract Performance Bonds

Guarantees that a contractor will complete a specific project exactly according to the contract terms, protecting the project owner (obligee) from financial loss.

Payment Bonds

Often paired with performance bonds, this ensures that subcontractors, laborers, and material suppliers are paid for their work, protecting the property from mechanic's liens.

License & Permit Bonds

Required by government agencies before a business can legally operate. They guarantee compliance with industry regulations, building codes, and safety standards.

Bid Bonds

Provides a financial guarantee that a bidding contractor will honor their proposed bid amount and actually enter into the contract if they are selected for the project.

Court & Judicial Bonds

Required by courts to protect parties involved in legal proceedings, ensuring judgments are paid, fiduciary duties are met, and funds are handled ethically.

Fidelity Bonds (Employee Dishonesty)

Protects your business and your clients against catastrophic financial loss resulting from direct theft, fraud, or dishonest acts committed by your employees.

Why Orbit

Why Orbit is the best choice for Surety Bonds?

Competitive Premium Rates

We have deep relationships with the nation's top surety underwriters, allowing us to negotiate the lowest possible rates (often just 1% to 3% of the bond amount) for qualified businesses.

Industry Expertise

From auto dealer bonds to massive municipal construction performance bonds, our agents know the exact legal language and forms your local obligee requires.

Bad Credit Programs

Don't let a low credit score stop you from doing business. We have specialized high-risk surety markets that can approve bonds for principals with bad credit or past bankruptcies.

Fast, Digital Approvals

We understand that pending contracts won't wait. We utilize streamlined digital applications to get your bonds approved, signed, and issued in record time.

Talk to a surety expert today

An Orbit commercial agent is ready to help you navigate the specific bond requirements for your state, municipality, or contract.

Speak with an Expert

The basics

What is a Surety Bond?

Unlike standard insurance which protects *you*, a surety bond is a legally binding contract that protects *your clients* or the *public*. It involves three parties: the Principal (you, the business owner obtaining the bond), the Obligee (the entity requiring the bond, like a city government or project owner), and the Surety (the insurance company backing the bond).

The bond acts as a financial guarantee that you will fulfill your legal and contractual obligations. If you fail to do so—for example, if you abandon a construction project or violate state regulations—the Obligee can file a claim against the bond. The Surety will pay the claim up to the bond amount to make the Obligee whole. However, unlike traditional insurance, the Principal (you) is legally required to reimburse the Surety for any claims paid out. In this way, a surety bond functions much more like a specialized line of credit than an insurance policy.

Factors That Impact Your Rates

Personal & Business Credit Score: Because a bond is essentially a line of credit, your credit score is the single biggest factor in determining your premium rate.
Bond Type & Risk Level: A simple $10,000 notary bond carries very little risk and is cheap. A $5 million performance bond for a commercial skyscraper carries immense risk and requires intense underwriting.
Bond Amount (The Penalty): The total coverage amount required by the Obligee directly dictates the cost. Premiums are calculated as a percentage (usually 1% to 10%) of this total amount.
Experience & Financial Health: For larger bonds, underwriters will closely examine your business's financial statements, liquid assets, and history of successfully completing similar projects.

Good to know

Frequently asked questions & Requirements

A surety bond does not fall under the conventional definition of debt on your balance sheet. It serves as a financial assurance. However, if a claim is made against the bond and the surety company pays it out, you (the principal) are legally required to repay the surety for the full amount paid, turning it into a debt at that point.

Yes. While applicants with excellent credit may pay 1% to 3% of the total bond amount, those with poor credit scores can still be approved through specialized high-risk surety programs. In these cases, premiums typically range from 5% to 15% of the bond amount, depending on the severity of the credit issues.

Yes. If the bond is purchased strictly for commercial purposes—such as obtaining a contractor's license or securing a construction contract—the premiums are generally fully tax-deductible as an ordinary business expense. Bonds purchased for personal reasons (like some probate bonds) are not deductible.

No. Surety bonds are strictly issued to the specific principal (individual or business entity) listed on the bond, based on their unique credit profile and qualifications. If a business changes ownership or a project is handed over to a new contractor, a completely new bond must be issued.

To generate an accurate surety bond quote, we will need:

Obligee Details: The exact name and address of the entity requiring the bond, and the specific bond form they require.
Bond Amount: The required penalty limit of the bond.
Credit Information: Social security numbers of all business owners (for credit checks).
Financials (For Large Bonds): For large performance bonds, underwriters will require business financial statements, work-in-progress (WIP) schedules, and personal financial statements.

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