Surety bonds • Virginia
Virginia Surety Bonds: Requirements and Costs by Bond Type
Virginia uses surety bonds for contractor licensing, motor vehicle dealers, and public construction. Class A and B contractors can post a $50,000 bond instead of proving net worth, new dealers post a $50,000 bond for their first three years, and public construction contracts above set thresholds need 100% performance and payment bonds. This guide lists the most common Virginia bonds and what they cost.
Each bond links to a detailed guide with official sources. Blake Insurance Group is an independent agency licensed in Virginia, and a licensed agent can help you find and file the bond you need.
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Tell us the bond you need and who requires it, and a licensed agent will follow up. Submitting the form does not bind coverage.
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Common Virginia surety bonds
| Bond | Who requires it | Required amount |
|---|---|---|
| Contractor license bond (in lieu of net worth) | Virginia Board for Contractors (DPOR) | $50,000 |
| Motor vehicle dealer bond | Motor Vehicle Dealer Board | $50,000 |
| Public works performance and payment bonds | Public bodies (Va. Code § 2.2-4337) | 100% of the contract |
Amounts are sourced in each linked guide.
Federal bonds Virginia businesses often need
- Freight broker bond (BMC-84): $75,000, filed with FMCSA.
- ERISA bond: at least 10% of plan funds handled.
- Bid bonds and Miller Act bonds on federal construction.
What Virginia bonds cost
The $50,000 contractor bond starts around $438 for a two-year term, and the $50,000 dealer bond starts around $450 to $500 a year. Contract bonds are priced as a percentage of the contract. See our surety bond cost guide or the surety bond cost calculator.
Virginia surety bond FAQs
Do Virginia contractors need a bond?
Class A and B contractors who do not verify the required net worth can post a $50,000 surety bond on the board’s form instead.
What bond does a new Virginia car dealer need?
A $50,000 bond for the first three years of licensing, plus the Motor Vehicle Transaction Recovery Fund fee.
When are public works bonds required in Virginia?
On nontransportation contracts over $500,000 and state-funded transportation projects over $350,000, for 100% of the contract.
Related guides
- Virginia contractor license bond
- Virginia auto dealer bond
- Virginia public works bond
- North Carolina surety bonds
- Ohio surety bonds
- New York surety bonds
- Surety bonds
- Surety bond cost
- Surety bond cost calculator
- Buy a surety bond online
- License and permit bonds
- Virginia landscaping contractor insurance
- Virginia HVAC contractor insurance
- Virginia electrical contractor insurance
- Virginia plumbing contractor insurance
- Virginia 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
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 Virginia bond you need, and a licensed agent will help you compare options, or start a bond quote online with our partner.
