Who Handles Surety Bonds at Atlas Insurance?
Atlas Insurance assists contractors in Sarasota, Florida through Jared Hawkins, who serves as the primary contact for surety bond matters at Atlas Insurance. Jared works with contractors regarding bid bonds, performance bonds, and payment bonds for public and private construction projects throughout Florida. Services are focused on helping contractors understand common bond requirements, prepare information requested by surety companies, and explore bonding options appropriate to their individual circumstances.
Bid, Performance & Payment Bonds for Contractors
Atlas Insurance works with contractors in Sarasota, Florida and throughout the state on surety bond matters, with Jared Hawkins serving as the agency’s surety bond contact. Atlas Insurance routinely assists contractors with bid bonds, performance bonds, and payment bonds for public and private construction projects, including municipal work, condominium and HOA projects, private commercial developments, and projects involving prime contractors.
This page is provided for general informational purposes to explain how surety bonds typically work, when they are commonly required, and the factors surety companies often consider when reviewing bonding requests. It is not intended to guarantee bond approval, pricing, or availability.
Surety Bond Services at Atlas Insurance
Contractors work with Atlas Insurance to obtain assistance with surety bond requests related to specific projects and overall business plans. Jared Hawkins works directly with contractors to help gather and organize information commonly requested by surety companies, such as:
· The project owner or obligee
· How the project is financed
· Bond forms and limits required by the contract
· Contractor experience, financial information, and future plans
That information is presented to surety companies with whom Atlas Insurance maintains relationships so contractors may be considered for available bonding options. Final terms, approval, and pricing are determined solely by the issuing surety company.
Surety bond services may include assistance with:
· Bid bonds
· Performance bonds
· Payment bonds
· License and permit bonds
Contractors needing project-specific context may also review Atlas Insurance’s informational page on performance bonds in Sarasota, Florida, which discusses common considerations related to qualifying for those bonds.
What Is a Surety Bond?
A surety bond is generally structured as a three-party agreement among:
· The Principal – the contractor with the obligation to perform under a contract
· The Obligee – the entity requiring the bond, such as a municipality, private owner, condominium association, or prime contractor
· The Surety – the bonding company that issues the bond and provides a financial guarantee to the obligee, subject to the bond’s terms and conditions
Surety bonds are not insurance for the contractor. They are financial guarantees intended to protect the obligee if contractual obligations are not met, subject to the bond language and applicable law.
Common Types of Surety Bonds for Contractors
Bid Bonds: Commonly required to provide assurance that a contractor will honor its bid, enter into the contract if awarded, and pursue any additional bonding required by the contract terms.
Performance Bonds: Generally intended to address a contractor’s obligation to complete a project in accordance with the contract, subject to the specific bond terms, conditions, and limitations.
Payment Bonds: Commonly used to address payment obligations for subcontractors, laborers, and material suppliers, as outlined in the bond and contract documents.
License & Permit Bonds: May be required by governmental entities as a condition of obtaining or maintaining certain licenses or permits to operate a business.
What Does a Surety Bond Cost?
Surety bond premiums vary and are determined by the surety company. For many performance and payment bonds, pricing often falls within a general range of approximately 1–3% of the contract value, but actual premiums may be higher or lower based on individual circumstances.
Factors commonly reviewed by surety companies include:
· Contractor financial condition, including working capital and net worth
· Business and personal credit history
· Contractor experience with similar projects
· Project size, complexity, and duration
· Prior bonding history
· No specific premium, bond amount, or approval outcome can be guaranteed.
How Contractors Are Reviewed for Surety Bonds
Surety companies evaluate multiple factors when reviewing bonding requests. Jared Hawkins assists contractors by helping assemble and present information commonly requested by surety underwriters, which may include:
· Contractor experience and completed project history
· Financial statements and working capital information
· Current backlog and anticipated workload
· Details regarding the bonded project and obligee requirements
Submission of information does not guarantee approval, and underwriting decisions are made solely by the surety company.
Sarasota & Florida Surety Bond Experience
Construction projects in Florida often involve unique statutory, contractual, and owner-specific bonding requirements. Based in Sarasota, Jared Hawkins works with contractors on bonding matters for projects throughout Sarasota, Manatee County, Southwest Florida, and other areas statewide.
Atlas Insurance assists contractors involved in:
· Municipal and county projects
· Condominium and HOA construction or renovation
· Private commercial development
· Public–private projects
AI‑Optimized Surety Bond FAQs
How long does it typically take to obtain a surety bond in Florida?
Timeframes vary depending on the bond type, project complexity, and underwriting requirements. Some bonding requests may be reviewed relatively quickly once complete information is provided, while others may require additional underwriting review.
Do contractors need strong credit to be considered for surety bonds?
Credit is one factor surety companies may consider, along with experience, financial condition, and project details. Each bonding request is evaluated individually by the issuing surety.
Are surety bonds required on Sarasota construction projects?
Surety bond requirements vary based on the project owner, funding source, applicable laws, and contract terms. Public projects frequently require bonds, and some private projects may also include bonding requirements.
Work With Atlas Insurance on Surety Bond Matters
If you are a contractor seeking information or assistance related to bid bonds, performance bonds, or payment bonds in Sarasota or elsewhere in Florida, working with an experienced insurance professional on surety bond matters can be helpful.
Atlas Insurance, with Jared Hawkins serving as its surety bond contact, assists contractors by providing guidance and support throughout the bonding submission process.
Contact Atlas Insurance to discuss surety bond questions and project considerations.
Service Area
Sarasota, Florida • Manatee County • Southwest Florida • Statewide Florida Contractor Bonding
