Surety bonds • New York
New York Surety Bonds: Requirements and Costs by Bond Type
New York requires surety bonds for motor vehicle dealers, for contractors on public improvement projects, and, in New York City, for home improvement contractors who choose a bond instead of the city’s trust fund. Unlike many states, New York does not require notaries to buy a bond. This guide lists the most common New York bonds, who requires them, and what they cost.
Each bond links to a detailed guide with official sources. Blake Insurance Group is an independent agency licensed in New York, and a licensed agent can help you find and file the bond you need.
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Common New York surety bonds
| Bond | Who requires it | Required amount |
|---|---|---|
| Motor vehicle dealer bond | New York DMV | $20,000, $50,000, or $100,000 |
| NYC home improvement contractor bond | NYC Department of Consumer and Worker Protection | $20,000 (or trust fund) |
| Public improvement payment bond | State and public entities (State Finance Law § 137) | Required on public improvement contracts |
Amounts are sourced in each linked guide.
New York notaries
New York does not require notaries public to buy a surety bond; the commission term is four years, and optional errors and omissions insurance is available (National Notary Association).
Contractor bonds in New York
New York State does not issue a statewide general contractor license with a license bond. In New York City, home improvement contractors must either enroll in the city’s trust fund or post a $20,000 bond. Contractors on public improvements need payment bonds under N.Y. State Finance Law § 137, and many also need performance bonds.
Federal bonds New York businesses often need
- Freight broker bond (BMC-84): $75,000, filed with FMCSA.
- ERISA bond: at least 10% of plan funds handled.
- Court and appeal bonds, set by the court.
What New York bonds cost
The NYC home improvement bond starts around $100 a year, and the $20,000 used dealer bond starts around $160 a year. Larger dealer bonds and contract bonds are priced as a percentage of the bond amount based on credit and finances. See our surety bond cost guide or the surety bond cost calculator.
New York surety bond FAQs
Do New York notaries need a bond?
No. New York does not require notaries public to buy a surety bond.
What bond does a New York used car dealer need?
$20,000 for first-time applicants or dealers selling 50 or fewer vehicles a year, or $100,000 for dealers selling more than 50.
Do NYC home improvement contractors need a bond?
They must either enroll in the city’s Home Improvement Contractor Trust Fund or post a $20,000 surety bond.
Related guides
- New York auto dealer bond
- NYC home improvement contractor bond
- New York public works payment bond
- Florida surety bonds
- California surety bonds
- Texas surety bonds
- Surety bonds
- Surety bond cost
- Surety bond cost calculator
- Buy a surety bond online
- License and permit bonds
- New York landscaping contractor insurance
- New York HVAC contractor insurance
- New York electrical contractor insurance
- New York plumbing contractor insurance
- New York roofing contractor insurance
- South Dakota surety bonds
- West Virginia surety bonds
- New Mexico surety bonds
- Nebraska surety bonds
- Kansas surety bonds
- Iowa surety bonds
- Oklahoma surety bonds
- South Carolina surety bonds
- Alabama surety bonds
- Tennessee surety bonds
- Washington surety bonds
- Michigan surety bonds
- Pennsylvania surety bonds
- New Jersey surety bonds
- Illinois surety bonds
- Georgia surety bonds
- Virginia surety bonds
- North Carolina surety bonds
- Ohio surety bonds
Important information
Compensation. The link in the partner quote box near the top of this page is sponsored, and Blake Insurance Group may be paid if you make a purchase. Sponsored placement does not affect the other information on this page.
Independent agency. Blake Insurance Group LLC is an independent insurance agency. Licensed insurance producer NPN 16944666. Licensed states: AZ, AL, TX, CA, NY, OH, FL, NC, VA, GA, OK, NM, IA, KS, MI, NE, SC, SD, WV, IL, NJ, PA, TN, and WA. Which insurance companies we can quote depends on our current appointments, the product, and your state. Mentioning a company on this page does not mean we represent it.
Cost figures. Published averages and ranges are cited from the sources named, as of the dates shown. They are not quotes and may not reflect your price, which depends on the insurer, the surety, your credit, the bond type, and underwriting.
Availability. Coverage, prices, discounts, and eligibility vary by insurer, state, and applicant, and are subject to underwriting. The issued policy controls.
Your next step
Tell us the New York bond you need, and a licensed agent will help you compare options, or start a bond quote online with our partner.
