Not up front. Some contracts require specific licenses, bonding, or insurance coverage levels, but requirements are specific to each solicitation and vary by contract and state.
The guidance is simple: do not buy licenses or increase insurance coverage speculatively. When a real contract in front of you requires a higher limit, you can typically call your insurance agent and raise the coverage quickly at that point. The priority at the start is registration and compliance paperwork, not pre-purchasing coverage you may never need.
Your mentor reviews what each specific opportunity actually requires as part of the bid or no-bid assessment, so you will know exactly what is needed before you commit to a bid.