Business Services Bonds

At Surety Bonds Agent, we offer a full range of surety bonds nationwide through an extended carrier network. Learn everything you need to know about Business Services bonds, and request a quote today.  If you have additional questions or want to explore bonding solutions for your business, speak with one of our knowledgeable surety bond experts.

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FREE BUSINESS SERVICES BOND QUOTE

What Are Business Services Bonds?

Businesses that send their employees to work at a client’s location have good reason to be concerned about the possibility of an employee stealing something from those premises while working. That “something” could be cash, jewelry, electronic devices, a credit card that could be used fraudulently, or anything else of value. A business services bond protects the customer, not the employer, against financial loss in these cases.

Who Needs Them?

Employers purchase business services bonds voluntarily, largely for the marketing advantage they gain from being able to advertise themselves as bonded. That sets a business services bond apart from the vast majority of mandatory surety bonds that nay be required by a state or local government agency for business licensing. It’s increasingly common for clients, especially commercial clients, to only hire businesses that are bonded.

Any company that dispatches employees to work at a client’s home or place of business can benefit from the protection of a business services bond. This includes janitorial and cleaning services, pool companies, movers, landscapers, home health agencies, house painters, pest control companies, home remodelers, appliance repair services, child care agencies, home security companies, and more.

How Do They Work?

When you purchase a business services bond, the surety is agreeing to advance you funds to pay valid claims against the bond. When a valid claim is filed, the surety pays the customer directly, up to the full amount of the bond, creating a debt that you ultimately must repay to the surety. It’s important to know that for a claim to be considered valid, in most states the accused employee must have been convicted of the crime.

What Do They Cost?

You’ll pay a premium that is typically a small percentage of the bond amount you request. Exactly what that percentage (the premium rate) will be depends on the amount of coverage you’ve requested and the number of employees to be covered. Your own personal credit score can impact the rate you will pay as well.

Your credit score matters because it’s an indicator of how much risk the surety will be assuming in extending credit to you for the purpose of paying claims. With a good credit score, you will likely pay a premium rate that’s in the range of 1% to 3%. If your credit is poor, you may still be able to get bonded but may pay a higher premium rate.

At Surety Bonds Agent, we offer a full range of surety bonds nationwide through an extended carrier network. Learn everything you need to know about Business Services bonds, and request a quote today.  If you have additional questions or want to explore bonding solutions for your business, speak with one of our knowledgeable surety bond experts.

CONTACT US FOR A

FREE BUSINESS SERVICES BOND QUOTE

What Are Business Services Bonds?

Businesses that send their employees to work at a client’s location have good reason to be concerned about the possibility of an employee stealing something from those premises while working. That “something” could be cash, jewelry, electronic devices, a credit card that could be used fraudulently, or anything else of value. A business services bond protects the customer, not the employer, against financial loss in these cases.

Employers purchase business services bonds voluntarily, largely for the marketing advantage they gain from being able to advertise themselves as bonded. That sets a business services bond apart from the vast majority of mandatory surety bonds that nay be required by a state or local government agency for business licensing. It’s increasingly common for clients, especially commercial clients, to only hire businesses that are bonded.

Any company that dispatches employees to work at a client’s home or place of business can benefit from the protection of a business services bond. This includes janitorial and cleaning services, pool companies, movers, landscapers, home health agencies, house painters, pest control companies, home remodelers, appliance repair services, child care agencies, home security companies, and more.

When you purchase a business services bond, the surety is agreeing to advance you funds to pay valid claims against the bond. When a valid claim is filed, the surety pays the customer directly, up to the full amount of the bond, creating a debt that you ultimately must repay to the surety. It’s important to know that for a claim to be considered valid, in most states the accused employee must have been convicted of the crime.

You’ll pay a premium that is typically a small percentage of the bond amount you request. Exactly what that percentage (the premium rate) will be depends on the amount of coverage you’ve requested and the number of employees to be covered. Your own personal credit score can impact the rate you will pay as well.

Your credit score matters, because it’s an indicator of how much risk the surety will be assuming in extending credit to you for the purpose of paying claims. With a good credit score, you will likely pay a premium rate that’s in the range of 1% to 3%. If your credit is poor, you may still be able to get bonded but may pay a higher premium rate.

REQUEST A QUOTE

Request a quote online or call today to speak with one of our surety bond experts about protecting your customers with a business services bond.