Rhode Island requires a $10,000 bond for all contractors registered through the Contractors' Registration & Licensing Board. SuretyBond Simple makes it fast and easy to get bonded in Rhode Island — with competitive rates, same-day approvals, and no hidden fees.
Common Rhode Island Surety Bonds
Here are the most frequently required surety bonds in Rhode Island:
Contractor License Bond
Required for licensed contractors in Rhode Island through the Rhode Island Contractors' Registration & Licensing Board.
Motor Vehicle Dealer Bond
Required by the Rhode Island DMV for all licensed motor vehicle dealers in Rhode Island.
Notary Bond
Required by the RI Secretary of State for all notaries public in Rhode Island.
Freight Broker Bond (BMC-84)
Federally required by the FMCSA for all licensed freight brokers operating in Rhode Island and nationwide.
Mortgage Broker Bond
Required for licensed mortgage brokers and loan originators operating in Rhode Island.
License & Permit Bond
Various Rhode Island business licenses and permits require a surety bond as part of the licensing process.
Rhode Island Bond Requirements at a Glance
| Bond Type | Bond Amount | Issuing Agency | Term |
|---|---|---|---|
| Contractor License Bond | $10,000 | Rhode Island Contractors' Registration & Licensing Board | Annual |
| Motor Vehicle Dealer Bond | $50,000 | Rhode Island DMV | Annual |
| Notary Bond | $10,000 | RI Secretary of State | Multi-Year |
| Freight Broker Bond (BMC-84) | $75,000 | FMCSA (Federal) | Annual |
| Mortgage Broker Bond | $25,000–$75,000 | Rhode Island Dept. of Financial Regulation | Annual |
How Much Does a Rhode Island Surety Bond Cost?
You never pay the full bond amount — you pay a small annual premium, typically 1%–15% of the bond amount. Your rate depends primarily on your credit score:
| Credit Score | Typical Rate | $25,000 Bond | $50,000 Bond |
|---|---|---|---|
| 750+ (Excellent) | 0.5%–2% | $125–$500/yr | $250–$1,000/yr |
| 700–749 (Good) | 1%–3% | $250–$750/yr | $500–$1,500/yr |
| 650–699 (Fair) | 2%–5% | $500–$1,250/yr | $1,000–$2,500/yr |
| 600–649 (Average) | 4%–8% | $1,000–$2,000/yr | $2,000–$4,000/yr |
| Below 600 (Poor) | 7%–15% | $1,750–$3,750/yr | $3,500–$7,500/yr |
Use our Bond Cost Calculator for a personalized estimate.
How to Get a Surety Bond in Rhode Island
Identify Your Bond Requirement
Find out which bond you need, the required amount, and the issuing agency in Rhode Island.
Submit Your Application
Fill out our simple online form — takes less than 5 minutes. No hard credit pull required for most bonds.
Receive Your Quote
We shop across multiple A-rated carriers to find you the best rate. Most quotes are delivered same day.
Get Your Bond Certificate
Once approved, we issue your bond certificate digitally so you can complete your Rhode Island license application.
Rhode Island Surety Bond FAQ
How much does a surety bond cost in Rhode Island?
Rhode Island surety bond premiums typically range from 1%–15% of the bond amount, based on your credit score and bond type. Applicants with good credit (700+) generally qualify for rates of 1%–3%.
Can I get a Rhode Island surety bond with bad credit?
Yes. Surety programs are available for all credit levels. You'll pay a higher premium (7%–15%), but bonds are available to almost everyone.
How fast can I get bonded in Rhode Island?
Most standard Rhode Island surety bonds can be issued same day. Submit your application and receive your bond certificate within hours.
Do I need to renew my Rhode Island surety bond?
Most surety bonds in Rhode Island are annual and must be renewed each year to keep your license active. We'll notify you before your bond expires.
Will applying for a bond affect my credit score?
Most surety companies perform a soft credit pull, which does NOT affect your credit score. Hard inquiries are rare and only used for very large bonds.
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