Different than insurance, a surety bond is designed to guarantee a principal’s integrity, performance, and financial responsibility, as well as compliance with a law or contract. It guarantees a payment amount if certain conditions are (or aren’t) met in a contract you’ve signed.
A Guarantee To Back Up Your Word.
Bonds can be tricky to understand. They are not insurance and are not meant to pay for claims. Instead, a surety bond (also called an insurance bond) provides a financial guarantee that you (the principal purchasing the bond) will reimburse the obligee (the person who receives the benefit) should you default, fail to fulfill your obligation, or if a claim is made. In other words, it affirms that you will be able to repay the bond company if it pays out a claim on your behalf.
We can work with you to determine what coverage best fits your needs. We’ll walk you through the process, every step of the way, to make sure you have the protection you need for peace of mind.
Some of Our Partner Carriers.