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Sometimes the Unexpected Happens

Sometimes the Unexpected Happens

A Surety Bond is similar to Contractor Bond but with some key distinctions. They’re often confused with Security Bonds or misunderstood in the purpose they serve, and the role of each party involved. Nonetheless, surety bonds are required from businesses from time to time.

Our Business Insurance Specialists can help you navigate the specifics of this coverage so that you and your customers are adequately protected. Different from traditional insurance, a Surety Bond is a guarantee that protects another party. Think of it as buying insurance for someone else, making them the beneficiary and allowing them to file a claim should the terms of your contract agreement not be met.

Understanding Surety Bonds

Surety Bonds involve three parties: the one requesting the Surety Bond, the one who purchases the Surety Bond, and the insurance company guaranteeing the principal of the bond. A Surety Bond is obtained as a guarantee that protects the party requesting the bond.

Why Do You Need AIS?

Businesses of all sizes may need to purchase Surety Bonds depending on their state laws and the type of contract they are entering. Chances are that the party you are entering into a contract with will request a Surety Bond from you if needed. There are literally thousands of different bond types throughout the US, so your best resource is a knowledgeable Business Insurance Specialist. Call us today at (866) 570-7335.

Additional Insurance Coverages to Bundle

Wouldn’t it be great if you could save money on insuring your business and all of its assets? At AIS, we find affordable coverage for a wide variety of businesses.

We compare the best rates from multiple trusted carriers, so you know you’re getting the best protection for the best price.

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