A Water Well Drillers Surety Bond is a financial guarantee to the state engineer and generally is a requirement of licensure
A licensed driller binds himself to pay the penal sum to the state engineer in the event of significant noncompliance with the Administrative Rules for Water Well Drillers. Many factors can determine the bond amount, such as the driller's compliance history, the size or depth of the well, the resources to be recovered and the cost to decommission a well. The required surety bond amount varies, as does the type of license, permit or registration offered by each state
Several states require surety bonds for licenses, permits or registration of well constructors, maintenance of wells or well repair, well drilling, water system contractors, pump installers and well inspectors. These states include Arkansas, California, Georgia, Idaho, Kentucky, Maryland, Minnesota, New Mexico, North Dakota, Ohio, Oregon, Washington and West Virginia. Other states may only require registration, a permit or a license, but may not have a surety bond requirement. Many states have an educational or apprentice program for well drillers and are often required to pass an exam for licensing. Well drillers may also have to carry liability insurance and pay an annual license, registration, or permit fee.
The premium that you pay for a Water Well Driller Surety Bond will depend on credit and the bond amount required. Our low rates start as low as 2% of the bond amount.
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
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