My friend and I are starting an in-home consumer electronics consultation business. Should we be bonded for that. We will probably not be doing a lot of installation ourselves but will be contracting. Yet, I see us getting involved a little at least to some degree.

Unless a customer requires you to be bonded there is no reason to be bonded.

You should have liablility insurance

First its not a good idea to piggyback your question on someone else's. This can lead to confusion. You should start a new thread. So I've moved your question to its own thread.

You also need to check your local laws. Some places might require bonding in such a service sector.