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Surety Bonds
Reliable Bond Solutions That Back Your Business
Insurance bonds—often called surety bonds—provide financial protection and accountability in business transactions. They guarantee that a contractor, business, or individual will fulfill a specific obligation. If the bonded party fails to meet that obligation, the bond can compensate the affected party for financial losses.
Common Types of Bonds
Contract Bonds
Guarantee the performance of construction-related obligations.
Examples:
- Bid Bonds – ensure the contractor honors their bid
- Performance Bonds – guarantee the project is completed as agreed
- Payment Bonds – ensure subcontractors and suppliers are paid
Commercial & License Bonds
Required for various professions and businesses to legally operate.
Examples:
- Contractor license bonds
- Auto dealer bonds
- Mortgage broker bonds
- Notary bonds
Fidelity Bonds
Protect businesses from internal dishonesty or employee theft.
Examples:
- Employee theft bond
- Janitorial service bonds
Why Businesses Need Bonds
- Required by many state and local regulations
- Build credibility and trust
- Protect clients, customers, and project owners
- Help businesses qualify for public and private contracts