Surety Bonds
Surety Bonds – What are they?
Similar to insurance, surety bonds are agreements made with a third-party that can guarantee to a business owner that the third-party is able to complete a contract that is agreed to. Surety Bonds will help assure that an agreement is fulfilled and the business will not receive a financial decrease because of the third-party.
Surety Bonds are also a great way to measure risk-management of employee larceny, malfeasance or fraud. Utilizing Surety Bonds can minimize risk when it comes to contracts and maximize liability coverage in case an agreement falls through and is not fulfilled.
What type of Surety Bonds is there?
There are a wide variety of surety bonds that are available for purchase. The types of bonds that are available to purchase are notary bonds, fidelity bonds, judicial bonds, federal bonds, fiduciary bonds, permit bonds, license bonds, contracted bids based on performance and bids and public official bonds.
Who should purchase Surety Bonds?
There are several individuals that should purchase surety bonds. It is common for these organizations and individuals to purchase them:
- Entrepreneurs
- Investors
- Suppliers
- Manufactures
- Contractors
- Brokers
- Business Owners
If you are interested in finding out more information about Surety Bonds, give Miller Carlisle Insurance Services a call and we will connect you with trained Surety Bonds representatives that can walk you through the purchasing process. All of our representatives understand exactly the types of bonds that are appropriate for each individual and whether or not they are right for you.
BUSINESS INSURANCE POLICY EXPERTISE
Builders Risk Insurance
A policy designed to cover buildings under construction.
Business Owners Package Insurance
BOP insurance for the needs of most small businesses, covering: property, liability and vehicles.
Business Interruption Insurance
Critical for a property loss that would potentially close your business.
Commercial Auto Insurance
Covers vehicle’s used for your business.
Commercial Trucking Insurance
Covers hauling goods.
Commercial Umbrella Insurance
When the limits of your general business insurance policy does not provide adequate protection.
Contractor’s General Liability Insurance
For residential and commercial builders, general contractors, construction managers, design and build firms, specialty contractors or subcontractors, owners or public and private construction projects.
Employment Practices Liability Insurance
PLI insurance helps protect you against claims from your employees that result from the general conduct of your business.
General Liability Insurance
Covers owners from claims from a variety of issues.
Hotel / Motel Insurance
Designed to fulfill a wide range of insurance needs for hotels and motels.
Liquor Liability Insurance
A Business Insurance Plan should include a Liquor Liability Policy if you supply, manufacture, or serve alcohol to your customers.
Medical Malpractice Insurance
Medical malpractice insurance covers doctors and other professionals in the medical field for liability claims arising from their treatment of patients.
Product Liability Insurance
Product liability insurance is business insurance that is designed to cover liability of the business for damages caused by a product.
Restaurant & Bar Insurance
The Food and Beverage industry poses a unique set of challenges and risks to owners and operators of Restaurants and Bars.
Special Event Insurance
Insure your special event from unforeseen dangers.
Surety Bonds
A surety bond ensures contract completion in the event of contractor default.
Technology Insurance
Insurance packages tailored to the technology industry.
Wholesalers and Distributors Insurance
Wholesalers and distributors have unique insurance needs.
Workers’ Compensation Insurance
Workers’ compensation is a form of insurance providing wage replacement and medical benefits to employees injured.
