Surety Bond Insurance

Naples, Bonita Springs, Sanibel, FL

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What is surety bond insurance?

Surety bond insurance is like a safety net for businesses. Imagine you’re the issuer of a surety bond – if things go south and you can’t meet your bond obligations, bond insurance steps in. This insurance guarantees that the folks holding your bond still get their scheduled interest and principal payments, even if you default. It’s like having a backup plan in case things don’t go as planned.

When a company gets surety bond insurance, something interesting happens – its credit rating gets replaced by the insurer’s credit rating. The cost of this insurance, called premiums, depends on how risky it seems that the issuer might fail. These premiums are paid to the insurer either in one go or in smaller installments.

What are the benefits of being bonded?

Being bonded is like having a superpower for a company. With the added credibility of the insurer’s credit rating, a business can take calculated risks to enhance and expand its operations. This is especially true for industries like construction and finance, where having that extra layer of security can make a big difference. It also opens the door to valuable feedback. A bonded company can get unbiased criticism from credit professionals and seek advice when getting involved in new projects. It’s like having a wise friend guiding you through decisions.

See below for some bonds that we handle, but are not limited to, the following:

  • Contract performance
  • Bonds and Bid bonds
  • Maintenance bonds, Payment bonds and Supply bonds
  • License and permit bonds
  • Miscellaneous bonds

These bonds cover a range of situations, ensuring that businesses have the right protection in place for various aspects of their operations. It’s like having a tailored suit – made to fit and protect your unique needs.

Get started today!

Contact us today, and we can answer any questions you have about surety insurance.

Get a quote today!

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