Surety Bond Calculator for Construction Bonds
Construction Bond Cost Calculator for Contractors
This construction bond calculator estimates bond amounts and premiums for bid, performance and payment bonds on Miller Act and state projects, priced together on one contract value. For bid security only, use the bid bond calculator; for a performance bond on its own, use the performance bond calculator. See how bid bonds, performance bonds and construction bonds work. Pricing a license, court or commercial bond instead? Use the surety bond calculator.
- Who requires it: The project owner. The Miller Act requires 100% performance and 100% payment bonds on federal construction contracts over $150,000.
- Amount: The full contract value on Miller Act projects; state Little Miller Acts have similar rules.
- Typical cost (estimate): 0.5% to 3% of the contract value. On a $1 million project that is $5,000 to $30,000 a year. The surety sets the final price.
- Timing: Same-day submission; most quotes within one business day.
Surety Bond Cost Calculator for Construction
Construction Bond Cost Breakdown
Bid Bond
Often free with bonding program
Performance Bond
Sliding scale pricing
P&P Combined
Best value package
Construction Bond Sliding Scale Example
Our construction bond calculator uses the industry-standard sliding scale rates that surety carriers apply across construction surety bonds:
- First $100,000
- $100K - $500K
- Above $500K
- $25 (2.5%)
- $15 (1.5%)
- $10 (1.0%)
Popular Bond Types
Explore our most requested surety bonds
Surety Bond Calculator FAQs
How much does a construction bond cost?
Construction bonds typically cost 0.5% to 3% of the contract value. A $1 million project costs $5,000-$30,000 for performance and payment bonds, which are normally issued together for a single premium. Our construction bond cost calculator uses sliding scale rates - larger projects get lower effective rates.
What bonds are required for construction projects?
Most public construction projects require three bonds: a bid bond (guarantees your bid), performance bond (guarantees completion), and payment bond (protects subcontractors). Federal Miller Act projects over $150,000 require all three. Before you can bid, most states also require a contractor license bond to hold an active license.
What is the Miller Act bond requirement?
The Miller Act requires 100% performance bonds and 100% payment bonds for federal construction contracts exceeding $150,000. Bonds must be from Treasury-listed sureties. Use our construction bond calculator to estimate costs for Miller Act projects.
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Send the contract amount, bond forms and bid or award date. An agent reviews carrier options with you.
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