The S.C. Home Builders Self Insurers Fund announced that is can now accept a surety bond in lieu of the 25% cash deposit currently required. This new program is available to both new and current members of the Fund.
Bond approval is subject to applicant’s credit score and/or financial position. For example: assuming you qualify for the bond, and your 25 percent deposit is $5000, your annual bond premium will be $250. As a result, the cash demanded of the contractor for his or her workers comp insurance will be reduced by $4750.
Contact your SCHBSIF insurance agent for more detail on your specific situation. Search for member insurance agents at www.hbaofgreenville.com.
The Home Builders Association of Greenville are your neighbors and community leaders providing education and support for building industry professionals. We create jobs, encourage homeownership, and promote responsible growth throughout the upstate of South Carolina.
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