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If you are considering the option or are required to post a surety bond you might be wondering about how much it will cost you. Since there are numerous types of surety bonds, there’s no straight answer that’ll answer your question regarding the surety bond cost.

The good news here is that you don’t have to pay the full amount of the bond, ensuring that you don’t face any financial hassles. In most cases, you just have to pay about 1-15% of the total bond amount. If you have a good credit score, then you can rejoice because the payment rate for a surety bond is often calculated with your credit score in mind. 

If you want to obtain a high risk bond, or have less than perfect credit, they can cost a bit more than the other types. Take construction bonds as an example. Anyone taking out this type of surety bond is liable to pay 3% – 10% or more of the bond’s value to get it. 

It’s a known fact that you only need an annual premium for a bond. Should you need the bond after a year you will be required to pay an annual renewal fee. Typically, the first year premium of a surety bond is fully earned so be 100% sure you need the bond prior to paying the premium.

How Is the Rate Calculated?

As already mentioned before, since there are so many types of surety bonds, there is no one way to determine the surety bond cost. There are a few factors that help people to make this decision. The criteria used are;

  • The type of the bond. If it is a riskier bond, the surety bond price will increase automatically. 
  • The amount of the bond also determines how much you need to pay to get the security.
  • The skill set of the applicant is also taken into consideration when setting the rate. For a construction bond, for example, the skills and experience of the construction company will be evaluated. This will help in determining the risk of bonding with the company. 
  • The applicant’s credit score and the financial history is also another way to determine the rates. People who have a good credit score can easily save on the surety bond cost. The case is quite different for people who don’t score well on their credit score. So if you want to obtain a surety bond, make sure your financial history has no backlogs. 


Now that you know the technicalities behind the cost of a surety bond, it’ll be easier for you to wrap your head around the concept. If you want to get an estimate for the cost, you can also use a surety bond calculator. It can provide quite accurate results to give you an idea of the overall cost.