No, they are different instruments doing different jobs. A license bond required by the Contractors State License Board exists to respond to a consumer, and if it pays, the surety looks to you for repayment. Liability insurance is written to defend and indemnify you within the terms of the policy. Carrying the bond does not satisfy an insurance requirement in a contract, and carrying insurance does not satisfy the licensing requirement. Review your individual needs with a licensed agent who can see your actual policies.
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