NH Contractor Bond Amount Calculator
Determine the required surety bond amount for your New Hampshire contractor license based on your license type and projected annual gross volume of work.
Formula
Required Bond = MAX(Statutory Minimum, Volume Bond × Entity Multiplier × Experience Adjustment), rounded up to the nearest $1,000.
Volume Bond tiers:
- Annual volume ≤ $100,000 → 10% of volume
- $100,001 – $500,000 → $10,000 + 8% of amount over $100,000
- $500,001 – $1,000,000 → $42,000 + 6% of amount over $500,000
- > $1,000,000 → $72,000 + 4% of amount over $1,000,000 (capped at $100,000 for specialty; $500,000 for general)
Entity Multipliers: Sole Proprietor ×1.00 | Partnership ×1.10 | Corporation/LLC ×1.05
Experience Adjustments: <1 year +20% | 1–2 years +10% | 3+ years no adjustment
Annual Premium ≈ Required Bond × surety rate (1.0%–3.5% depending on experience/credit)
Assumptions & References
- Statutory bond minimums are set under NH RSA 310-A:188 (General & Specialty Contractors) and related trade statutes (RSA 319-C Electricians; RSA 329-A Plumbers; RSA 153:27-a HVAC).
- The volume-based bond tiers reflect standard NH surety underwriting practice; the state does not publish a single volume schedule but requires bonds "sufficient to protect the public."
- Bond amounts are rounded up to the nearest $1,000 per standard surety issuance practice.
- Premium rates (1%–3.5%) reflect NH surety market averages; actual rates depend on personal credit score, financial statements, and the chosen surety company.
- This calculator provides an estimate only. Verify current requirements with the NH Office of Professional Licensure and Certification (OPLC) at oplc.nh.gov before purchasing a bond.
- Home Improvement Contractors must also comply with NH RSA 310-A:188 registration requirements administered by OPLC.