How to Get Bonded & Insured in Colorado

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Getting your business bonded and insured in Colorado is necessary for some licensed professions, but can be a smart business move even if it isn't. Every business should have insurance to protect against customer and business liability for accidents that occur on the job, but bonding goes a step beyond liability insurance. Bonding offers customers peace of mind that they are financially covered if you default on a job or contracted promise, and can lend credibility top your business.

Obtain a Bond

  • Contact the Colorado Department of Regulatory Agencies (DORA) to inquire about mandated insurance and bonding requirements that may exist for your business or profession. If your business does not require licensing, or your licensed profession does not require a bond, you will be able to be insured but will have to forgo bonding, as it requires a government mandate.

  • Collect or acquire all necessary bonding documents required by the state of Colorado for your business and contact a surety bond company or bond agent (some insurance companies also offer bonding). Typical requirements may include a clear criminal record, financial statements and experience in your industry.

  • Apply for the bond and await approval from the bond agent. Once approved, you'll sign an indemnity agreement, pay the bond premium and provide a copy of the bond to any customer that requires it. You'll also need to provide the state with a copy of your bond in accordance to Colorado requirements for your license.

Obtain Insurance

  • Check with the Colorado Department of of Regulatory Agencies to see if any particular insurance requirements are mandated for your business or profession.

  • Contact your insurance agent and purchase business liability insurance at the amount required by the State of Colorado or recommended by your insurance agent. Your insurance requirements will vary according to your business assets, business structure and personal liability risk.

  • Obtain your insurance card or certificate and furnish a copy to customers who request it. If insurance is mandated by the state of Colorado, you'll need to furnish proof of insurance to the Department of Business Regulatory Agencies in accordance with its requirements for your business.

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