The cost of a bond depends on which one you choose and which surety insurance provider you go with, as there are many different cost structures. Generally, you pay between 1-15% of the total coverage provided by the bond. The higher the risk, the more you’ll pay. Construction bonds are often on the higher end as they’re considered to be riskier.
Your bond rate is determined by the following:
A surety insurance broker will be able to help you balance your coverage needs with your budget, as well as answer any questions you may have regarding your surety bond in Calgary.