866-362-6637 Pay Bill

Nebraska Construction Surety Bonds

Contractors in Nebraska need construction surety bonds for many public awards and private project agreements. Surety Bonds Agent helps streamline the request with high expertise and quick coordination. Request your bond quote online.

Contact Us for a Free Construction Bond Quote

It’s easy with our simple 3-step process:

  1. Apply Online
  2. Get Quote
  3. Receive Bond
about bond type

What Is a Nebraska Construction Bond?

Nebraska construction bonds help maintain the integrity of the construction industry by holding contractors to exacting standards and protecting project owners against financial loss when a contractor violates regulatory or contractual requirements. The terms of a construction bond require the contractor (the bond’s “principal”) to compensate the project owner (the bond’s “obligee”) or other injured party who has a valid claim for monetary damages.

img What Types of Nebraska Construction Bonds May Be Needed?

Nebraska licenses contractors at the state level, but no bond is required as a prerequisite for licensing. However, municipal or county authorities that have their own licensing process may require a contractor license bond.

Nebraska’s “Little Miller Act” requires performance bonds and payment bonds from contractors before they can be awarded a state-funded construction project above a certain threshold value. While privately funded construction projects aren’t covered by the Little Miller Act, many private project owners do require performance and payment bonds for their own protection, particularly for larger contracts. When contracts, public or private, are awarded through competitive bidding, any project owner can require a bid bond from each bidder.

Other construction bonds that a contractor operating in Nebraska may need include:

  • Maintenance bonds
  • Subdivision/site improvement bonds
  • Supply bonds
  • Solar decommissioning bonds
  • Right of Way bonds
img How Does a Nebraska Construction Bond Work?

The three parties to any construction bond are:

  • The project owner (known as the “obligee”),
  • The contractor (called the “principal”), and
  • The bond’s guarantor (the “surety”).

The legal obligation to pay valid claims belongs entirely to the principal. But the surety guarantees their payment by agreeing to extend credit to the principal for that purpose.

The normal process is for the surety to pay a valid claim initially and the principal to repay the surety in accordance with the agreed-upon credit terms. Not repaying the surety typically results in the principal being sued to recover the funds.

costs

How Much Does It Cost?

The annual premium for a Nebraska construction bond is determined by multiplying the bond amount by the premium rate. The premium rate is based largely on the principal’s creditworthiness as measured by their personal credit score. That’s because of the risk of the surety not being repaid for claims paid on the principal’s behalf.

A high credit score means the principal is financially responsible, so the risk to the surety is low. And low risk merits a low premium rate. On the other hand, a low credit score is a warning sign for higher risk, so the premium rate will be higher as well.

The premium rate for a principal with good credit usually is in the range of 1% to 3%.

step by step guide

How Do Nebraska Construction Bonds Work?

  • Choose Your Bond Type

    Select the bond you need — commercial, contract, or any specialized bond. We help you find exactly what is required in your state.

  • Submit a Quick Application

    Complete a short online form. It only takes a few minutes, with no extra paperwork or long verification steps.

  • Get Approved & Receive Your Bond

    Get fast approval and receive your bond instantly by email. Your document is ready to use right away.

main reasons

Why Work With Us?

Easy Application Process

Simply fill out our convenient online application form to get started.

Extensive Carrier Network

We work with a wide range of carriers to provide many options to our clients.

Competitive Rates

As an independent agency, we can leverage our carrier network to find the most competitive rates for the bonds you need.

Quick Turnarounds

We work to get you bonded as quickly as possible, often in 24 hours or less.

Exceptional Service

Our experienced surety bond agents provide personalized assistance to help you understand your bonding requirements and options.

Call us Today!

And get a free consultation.

866-362-6637
who we work with

Our Insurance Company Partners Nationwide

  • img
  • img
  • img
  • img
  • img
  • img
  • img
  • img
  • img
Testimonials

What our customers say about us

Super easy process. I found the bond I needed in minutes and received the approved document the same day. Great experience overall.

Emily R., Business Owner
Contractor

The application was fast, the support team was responsive, and the pricing was clear. Very smooth and professional. Everything was explained clearly, and I appreciated how quickly I received my bond.

Jason M., Contractor
Small Business Owner

Super easy process. I found the bond I needed in minutes and received the approved document the same day. Great experience overall.

Emily R., Business Owner
Oberman & Oberman

The application was fast, the support team was responsive, and the pricing was clear. Very smooth and professional. Everything was explained clearly, and I appreciated how quickly I received my bond.

Jason M., Contractor
Oberman & Oberman

Request a Quote

Request an online quote today! Or speak with one of our knowledgeable surety bond agents about the commercial bonds you are interested in.

Get Quote