Do You Have to Renew Your NJ HIC Bond Every Year? (Yes — Here's What to Do)

Yes. Your New Jersey Home Improvement Contractor (HIC) bond must be renewed every year. It's tied directly to your NJ Division of Consumer Affairs registration, which also renews annually.

## Why Annual Renewal Is Required

Under P.L. 2023, c. 237 — the law that made HIC bonds mandatory — your compliance bond must remain active for your registration to be valid. The bond has a one-year term. When it expires, your license is no longer in good standing.

There is no multi-year bond option for NJ HIC compliance bonds. Every contractor renews every year.

## What You're Paying Each Year

Renewal costs are the same as your original bond:

- **$10,000 bond:** $100/year - **$25,000 bond:** $125/year - **$50,000 bond:** $250/year

Most contractors pay $100–$250 per year — a small cost compared to the risk of working without a valid license.

## Does My Credit Affect Renewal?

For most NJ HIC bonds, no. Can Do Surety Bonds offers no-credit-check programs for $10K and $25K bonds. Your renewal goes through at the same flat rate regardless of your credit history.

If you have a $50K bond, credit may be a factor — but most established contractors renew without issue.

## What If I Changed My Business Volume?

Your bond amount is based on your contract volume. If you took on larger projects this year and now exceed the $150K or $750K annual thresholds, your renewal may require a higher bond tier.

If you're unsure which tier applies to you, call us at (609) 491-7404 and we'll confirm it in a few minutes.

## When to Start Your Renewal

Start in January. Renewal applications open January 1 at the NJ Division of Consumer Affairs. Your bond must be in place before the March 31 deadline.

Call Can Do Surety Bonds at (609) 491-7404 — we issue same-day renewals and send documents directly so you can file with the state without delay.