A surety bond does not cover direct business losses, damages to property, or liability claims. For instance, if your business suffers from property damage, you would need a property insurance policy to cover those losses. Surety bonds are specifically designed to guarantee contractual obligations and compliance with regulations
Related FAQs
No. Fidelity is crime coverage for employee theft, which we handle separately.
A bid bond backs your bid, a performance bond backs your completion of the work, and a payment bond backs payment to subs and suppliers.
No. It guarantees your obligation to the obligee. If the surety pays a claim, you are expected to repay it.
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