Fidelity Bond / Employee Dishonesty Bond
A fidelity bond is a form of insurance that covers you for losses that they you may incur as a result of fraudulent acts by specified individuals. It usually insures a your business for losses caused by the dishonest acts of your companies employees.
While called bonds, the obligations to protect an you as a business owner from employee dishonesty losses is actually a type of insurance policy. It protects from losses of your companies money, securities, and other property from employees who have an intent to take from your company your customers.
Employee Dishonesty Bond also known as Business service bonds protect consumers from the potential theft that could be committed by company employees who work in clients’ homes or offices. Business service bonds are optional insurance products that are purchased by many different types of businesses, such as:
- pest control services
- general repair services
- pool cleaning services
- security/surveillance guards
- carpet cleaning companies
- appliance repair services
- pet sitters
- child care professionals
- moving companies
If your employees work in clients’ personal spaces, purchasing a Business Service Bond is an complement to your business and a cost-effective way to promote your company as a credible enterprise that has the clients’ best interests in mind.
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A lot of companies quickly realize their insurance needs go beyond basic liability and commercial auto insurance. Some jobs require specific types of coverages such as bid bonds that gives you protection that may fall outside of basic coverage.
Contractors General Liability Insurance
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Workers’ Compensation Insurance
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Tools & Equipment Insurance
Bid bonds make sure that contractors submit serious bid proposals. These bonds reassure project developers that bidders have the financial credentials necessary to accept the job. If a bid is selected and the contractor declines the job or retracts the bid, the project developer can make a claim on the bond to recoup the difference between that bid and the next-highest bid. Learn More
Performance bonds guarantee that contractors complete projects according to contractual terms. If a contractor fails to do so, the project developer can make a claim on the bond to access funds that can be used to pay a second contractor to finish the job. The Federal Miller Act requires that performance bonds be used on all federally funded projects worth $100,000 or more. Learn More
Commercial Auto Insurance
Business service bonds protect consumers from the potential theft that could be committed by company employees who work in clients’ homes or offices. Business service bonds are optional insurance products that are purchased by many different types of businesses, such as. Learn More
- Contractor License Bonds
- Contract Bonds
- Bid Bonds
- Performance Bonds
- Business Bonds
- Employee Dishonesty Bonds