Bond insurance is a guarantee payment in the event conditions aren’t fulfilled according to the terms of a signed contract. There are an estimated 25,000 different types of bonds issued through the US but all serve the same basic premise: to protect customers of a business.
Bonds provide at least a measure of insurance that a professional will not attempt to defraud a client. Customers of the bond purchaser can make a claim against the bond in the event they feel they have received inadequate service or were harmed in any way by the workmanship performed by the company.
Some common types of bonds we offer:
- Bid Bonds
- insurance broker bonds
- supply bonds
- stand alone bonds
- performance payment bonds
Melissa Ems Insurance Agency Advisors can shop numerous types of bonds to meet your needs. Contact us today!
Worried you aren’t completely covered? Consider an umbrella insurance policy that extends your coverage.