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What is an Insurance Bond? Surety Insurance Explained

“Insurance bonds” or “bond insurance” are general terms sometimes used by those looking to get bonded with a surety bond, or want to insure their business with fidelity bonds (there is no legitimate bonding insurance definition when it comes to surety bonds). If you read this article in full, you’ll have a great understanding of what bond insurance is, the difference between surety bonds and insurance, and which bonds you need.

What is "Surety Bond Insurance"? Surety Bond vs Insurance

Surety bonds aren’t insurance for you, they are insurance for the party requiring the bonds (called the obligee). Surety bonds protect the public by guaranteeing you will abide by the terms of the bond; if you don’t, claims can be filed which you’re responsible to pay in full (including legal costs). Keep in mind, surety bonds are never optional to obtain, as they’re usually required by a government agency. 


Assurnet Insurance on Bonds


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Posted 1:57 PM

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