Book Your Meeting to Get the Best Contractor Bonds in Houston TX
Are you about to get trusted with a big construction
project, and the only thing that stands in the way is a “contractor bond”?
Well, if that is your case, here at Pay Less Insurance, we can have you back
since we offer the most effective & affordable contractor bonds in
If you are new to these financial terms, we ask you to
bear with us a little longer since we’ll explain what these bonds are, how they
benefit your construction company, and we’ll make some other “unusual terms” a
little more digestible.
If you are already familiar with contractor bonds, you
can skip our section on “How a Construction Bond Works?” and start
reading the section of “The Main Reason for an Investor to Ask You for a
If you don’t want to read, and you need some
understanding of this type of insurance bond, feel free to call us. We’ll do
our best job to explain to you the benefits and your options when it comes to
construction surety bonds.
If you are ready to get a contract & construction
bond from Pay Less Insurance, the following ad will be of your interest.
Please pardon us! This is the boring part where we get
to explain all the unusual terms that has to do with our insurance of contractor
bonds in Houston TX. Although it’s boring to talk about surety company,
construction bonds, obligee, financial guarantee, among others, there is no way
We have to explain it in a way that we made ourselves
clear, and that you know what to expect from us, and how our process works.
So, What Is a Construction
With a construction contractor bond, also known as a
contractor license bond, your building company makes a payment to us, the insurance
company. And in return, Pay Less Insurance will guarantee to your client(s)
that the work/project will be performed according to the contract.
If for any circumstance your company can’t complete
the job as stated by the contract, the client(s) or investors can file a claim
to recover losses or damages.
And if you buy one of our surety bond contracts, Pay
Less Insurance will have to cover the damages.
What is a Surety
A surety bond is a guarantee of debts of one party
(you as the building contractor) by the surety company or guarantor (we, Pay
In other words, our construction bonds in Houston
TX will provide adequate insurance and trust to the project owner that you
as a contractor will perform according to the terms stated in the construction
What Is the Main Reason for an Investor to Ask You for a Construction Bond?
The answer is pretty much straightforward. There is
big money in play.
And construction bonds will protect your client (the
person that is investing in the building project) against overall job
incompletion and nonpayment of materials from suppliers & labor from
We’ll try to give an example:
Imagine a client that wants to invest in a large-scale
renovation of his/her business facilities. And to complete this massive
renovation he/she needs a trusted and affordable general construction company
(you as the building contractor).
As we said, the types of projects that ask for a
contractor license bond are inversions that are costly.
Let’s say the client investing will have to buy pricey
materials & pay significant amounts of money upfront.
In some other instances, the client has to even close
his/her business for the sole purpose of completing the job.
So, what we are saying is that the investor or
business owner knows that he/she will be putting a lot of money in the hands of
the building contractor (in this case, you). Also, the investor knows that there
a lot of risks and variables that are beyond his/her control.
Here is where a construction bond is a right answer to
safeguard significant investments from this type of risk. This will be the
ideal guarantee to the investor that his/her business won’t be affected by any
failure in terms of the contract or project incompletion.
And also, here is where Pay Less Insurance as the
guarantor comes into play. We offer the guarantee that the investor won’t lose
money in his investment with our contractor bonds in Houston TX.
We’ll act on your behalf to fulfill your contractual
obligations to your client (the investor).
Here Are Key Takeaways on Contractor Bonds and How They Work!
There are generally three parties involved in a construction bond:
The investor/project owners, also known as the obligee.
The party or parties building the project.
The surety company that backs the bond.
A construction bond is a type of guarantee used by investors to protect their construction projects.
Our contractor bonds in Houston TX will protect real estate investors, the government, or business owners from financial loss or disruptions due to the failure to complete a project or comply with the project specifications stated in the contract.
Also, these bonds ensure a construction project’s bills are paid.
If you, as the general construction company, don’t abide by the conditions of the contract, your construction company and Pay Less Insurance are both held liable.
If this happens, we, as the surety company, need to pay the damages.
Construction Bonds in Houston TX: We Sell You the Construction Bond that Serves Your Purposes Best !
Here at Pay Less Insurance, we have more than ten
years working as an insurance company. And we always provide our clients with
the right contractor bonds at the best price.
And when it comes to the construction industry, we
offer three main types of construction bonds. These
are bid, performance, and payment bonds.
We’d love to define these three types of bonds, but we
are afraid we would kill you of boredom. So, we’ll leave these links if you
want to learn more about them.
Also, if you want us to explain them to you (what they
are, differences, and your best option), we’ll be more than happy to do it.
We promise we’ll make ourselves clear! Are you
interested in financial advice? Call us now!
Book Your Meeting to Get the Best Construction Bonds
in Houston TX!
As our name says, in “Pay Less Insurance” you’ll pay
the lowest price for the best construction bonds in Houston TX. We’ll always protect your construction company so
that you can build, grow & succeed.
In the end, our goal is to maximize the
coverage of your insurance packages at the lowest price possible. In this way, you’ll
minimize the financial losses of your construction company and the investors
who trust their money and projects to you.
For more information about the prices of our
company insurance packages and the variety of policy options, send us an email
to [email protected]
or call us at (832) 804-9286.