• Bonded means that they have gone through background checks, etc., to qualify for insurance that covers damages or losses to their clients while they are on the job, and they are paying for that insurance. If they aren't bonded, I would certainly wonder why not, and I personally would choose someone else, since I would definitely want anyone who is spending that much time in my home not only to be insured, but to have been background-checked.
  • You would be paying more for bonded contractors, when most of the time an insured one would suit the job. It really depends on the job and situation. But jbarbie23 is pretty much right.
  • If your contractor is not bonded or insured I would wonder why. I would also, before you pay any more money to him, check references and also the Better Business Bureau and see what you can find out. Also, insist on seeing receipts for each of the large quantities of building materials your contractor buys as well as receipts from people he says he paid to do work. If he did not PAY for any of those things, but used them in your house, you are often responsible for paying for them when he is then sued by the places he cheated! Not hiring a bonded contractor or subcontractor and also not checking their references is one of the main reasons people get really taken out of millions of dollars a year by dishonest or unethical contractors. It is not too late to act, but I suggest you act ASAP on this.
  • If they are bonded it means that if they screw up and your house collapses or something like that they have insurance that will cover all the damage to your house. It also means that if they fail to do the work that you will have your money back. If a contractor isn't licensed & bonded you are taking somewhat of a risk. I would only hire an unlicensed and unbonded contractor if I knew the guy very well.
  • Bonded and Insured are not exactly the same thing. A contractor may be licensed typically through the state or local government and must pass a test to become licensed. Liability insurance is more common with smaller contractors for building homes and residential stuff. Bonding is usually a requirement for contracting larger construction projects like the the Statue of Liberty or your local public library and especially where public money is involved. You should expect your local Plumber for example to have a License and Commercial Liability Insurance to fix your toilet or rough in your new house, But bonding isn't really neccessary. In my opinion.
  • Bonded simply means, that if you come home one day and find that the carpenter has taken all your household furniture away, his insurance will repalce it, once convicted.

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