NJ Home Improvement Contractor Bond Requirements — 2024-2025 Historical Guide
December 18, 20246 min readBy Can Do Surety Bonds
This article describes the 2024-2025 implementation period for New Jersey home improvement contractor registration. For current filing dates and requirements, confirm the latest guidance with the NJ Division of Consumer Affairs. HICBs must maintain the required additional security, and a compliance surety bond is one permitted option.
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Request a quoteNew Tiered Bond Requirements
Governor Murphy signed P.L. 2023, c. 237 in January 2024, establishing a tiered bond system for contractors who select a compliance bond based on their contract values:
$10,000 Bond: For single contracts under $10,000 OR annual contract totals less than $150,000
$25,000 Bond: For single contracts $10,000-$120,000 OR annual contract totals $150,000-$750,000
$50,000 Bond: For single contracts over $120,000 OR annual contract totals $750,000 or more
Who Must Register
Any contractor performing home improvement work in New Jersey must register, including general contractors, remodelers, roofing contractors, siding installers, deck builders, and HVAC contractors.
What the Bond Protects
The compliance surety bond protects consumers from contractor fraud, incomplete work, and violations of the Home Improvement Contractors' Registration Act. It ensures contractors fulfill their contractual obligations.
Agency Reference Pricing by Tier
Agency-specific reference pricing may depend on the bond amount and application:
- $10,000 bond: Reference pricing may start at $100/year
- $25,000 bond: Reference pricing may start at $125/year
- $50,000 bond: Reference pricing may start at $250/year
Final premium and applicable fees are confirmed after eligibility, carrier, underwriting, and fee review.
Additional Requirements
In addition to the selected additional-security option, you must register with NJ Division of Consumer Affairs, pay the registration fee, provide proof of general liability insurance ($500,000 minimum for home improvement, $1,000,000 for home elevation), and display your registration number on all advertising.
Call (609) 491-7404 to review your security option and bond application. Same-day issuance may be available after requirements, eligibility, and underwriting are confirmed.