Overview of the Program
Bid bonds protect project owners by guaranteeing a bidder will honor its proposal and execute the contract if awarded. When a contractor fails to perform as promised, the bond provides the owner a remedy—typically up to the bond penalty—so owners can reprocure the work or recover damages.
Ideal Accounts and Bond Appetite
Allstar’s Bid Bond program accommodates a broad range of contractors: small specialty trades, emerging contractors, and mid-sized general contractors bidding on public works, commercial construction, and municipal infrastructure. We routinely place accounts for state and local projects, utilities, and private commercial bids. We also work with harder-to-place risks and newer contractors who may have limited operating history.
Coverage Highlights and Advantages
- Bid Bonds, Performance Bonds, Payment Bonds, Maintenance Bonds, and Supply Bonds
- Extended options: License, Permit, Subdivision, and Site Improvement Bonds
- Access to both standard and non-standard surety markets
- A.M. Best–rated and U.S. Treasury–listed surety carriers
- Underwriting flexibility to fit contractor size and project type
- Fast turnaround and a responsive underwriting team focused on placement
Underwriting Notes and Minimum Premiums
Minimum premiums depend on bond size, the contractor’s financials and experience, and project specifics. Allstar underwriters will review bid specs, bond form requirements, contractor financials, and background information to structure the submission. For non-standard cases we can often craft alternative structures or introduce markets that will consider limited-history contractors.
Territories and Availability
This Bid Bond program is available in KY, MD, MO, NJ, OH, PA, and WV. Our market relationships and local presence enable placement across these states with carriers admitted where applicable.
Why Work With Allstar Financial Group?
Allstar Surety brings decades of surety underwriting experience and deep carrier relationships. We focus on practical, placement-oriented underwriting that helps you get bids bonded and contractors positioned to win work. Our team is accustomed to handling both routine and complex placements and delivering quick, transparent responses to agents and brokers.
Let Allstar be a go-to source for contract surety. Contact one of our underwriters to discuss a submission or get a quote.
- Standard and Non-Standard Surety Market
- Flexible Terms and Conditions
- Quick Turn-Around
- Local Offices to Provide Outstanding Service
Frequently Asked Questions
What types of contractor accounts are a good fit for this Bid Bond program?
We place a wide range of contractors, including general contractors, specialty trades, and emerging firms bidding on public or private projects in the eligible states.
Can Allstar Surety help with non-standard or hard-to-place accounts?
Yes. We provide access to both standard and non-standard surety markets, which helps when a contractor has limited operating history or nontraditional financials.
What information is needed to get a quote for a bid bond?
Typical submissions include the bid specifications, required bond form, contractor financial statements, and background on experience and key personnel. Our underwriters will outline any additional documentation needed.
Are Allstar’s surety markets admitted?
Most of our markets are admitted in the states we serve and are A.M. Best–rated and U.S. Treasury–listed.
Which states is this program available in?
This Bid Bond program is currently available in KY, MD, MO, NJ, OH, PA, and WV.
Need help placing an account? Connect with a market specialist.