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What is Surety Bond?
A surety bond is a guarantee involving three parties: the guarantor (surety company), the principal and the obligee. The guarantor agrees to pay the obligee a set amount of money if the principal fails to meet an obligation.
Surety bond is a broad heading with many different subcategories including license, permit, payment and performance bonds.
Who needs a surety bond?
License bonds (sometimes referred to as permit bonds) are often required by license boards, states or municipalities in order to carry a contractors license or business license.
Payment and performance bonds are almost always required in larger contracts.
Very helpful. Provided me with the right information about what I needed for liability insurance. Very easy to work with.
Such a pleasant, professional experience.
James H. G.
Great company, fast service.
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Access your policy 24/7 from any computer or smart device. Our policy management system allows clients to generate their owner certificates of insurance, view billing information and request policy changes.
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We work with A rated, admitted insurance carriers, brand names that you can trust. Because of our partnerships with many of the nation's top insurance carriers, we are always able to find your the best price and coverage options on the market.