Any business owner who has employees can benefit from purchasing an employee dishonesty bond. Employee dishonesty is, unfortunately, rather common. If you think you may need one, you probably do.
Employee Dishonesty Bonds Coverage
Employers need an employee dishonesty bond to protect client funds, property, or business assets from covered employee theft. Surety Bonds Agent serves all 50 states with expert help and direct support. Apply online for an employee dishonesty bond quote.
Contact Us for a Free Employee Dishonesty Bond Quote
It’s easy with our simple 3-step process:
- Apply Online
- Get Quote
- Receive Bond
What Are Employee Dishonesty Bonds?
Every business owner needs to be concerned about the possibility of their employees committing dishonest acts that may harm the business financially. An employee dishonesty bond is a type of fidelity bond that protects business owners against the financial consequences of an employee forging checks, stealing cash or goods, embezzling from the business, committing fraud or any other financial crime against their employer.
An employee dishonesty bond does not protect against financial loss from dishonest acts committed by employees while working on a customer’s premises. For that you would need a business services bond, such as a janitorial bond that the owner of a cleaning business might purchase.
While employee dishonesty bonds provide important financial protection for business owners, they are not the typical surety bond. In fact, they function more like insurance. Typically, a surety bond provides protection for the party requiring the bond, referred to as the “obligee.” In the case of employee dishonesty bonds, however, there is no obligee, as business owners purchase them voluntarily for their own protection.
Who Needs Them?
How Do They Work?
As with an insurance policy, you’ll need to file a claim in order to be compensated for a covered financial loss. The surety bond company that issued your employee dishonesty bond will conduct an investigation to ensure that your claim is valid and should be paid. Be aware that some employee dishonesty bonds will only pay a claim if the dishonest employee has been convicted of the crime.
If your claim is approved, you’ll receive payment directly from the company that issued the bond. Whether or not that payment is for the full amount of your loss depends on how much coverage you purchased and the size of the claim.
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What Do They Cost?
Employee dishonesty bonds go through an underwriting process that will determine the premium you’ll have to pay for your bond. The primary factors the surety bond company will take into consideration are the amount of coverage requested, the controls you have in place to prevent employee dishonesty, and the number of employees to be covered.
Some business owners will opt for blanket coverage for all employees while others will choose to purchase coverage only for certain individuals—typically those who handle cash or checks, have access to business financial records, or work without direct supervision.
The premium for an employee dishonesty bond is very low, often only two or three hundred dollars for up to $100,000 of protection.
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We proudly serve all 50 states, offering a full range of surety bonds. To buy surety bonds online:
- Choose your state
- Choose the bond type you need
- Apply online to request a free quote
There’s no obligation, and we can often help you get bonded in 24 hours or less.
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How Do Employee Dishonesty Bonds Work?
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Choose Your Bond Type
Select the bond you need — commercial, contract, or any specialized bond. We help you find exactly what is required in your state.
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Submit a Quick Application
Complete a short online form. It only takes a few minutes, with no extra paperwork or long verification steps.
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Get Approved & Receive Your Bond
Get fast approval and receive your bond instantly by email. Your document is ready to use right away.
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Why Work With Us?
Easy Application Process
Simply fill out our convenient online application form to get started.
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We work with a wide range of carriers to provide many options to our clients.
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As an independent agency, we can leverage our carrier network to find the most competitive rates for the bonds you need.
Quick Turnarounds
We work to get you bonded as quickly as possible, often in 24 hours or less.
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Our experienced surety bond agents provide personalized assistance to help you understand your bonding requirements and options.
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Request an online quote today! Or speak with one of our knowledgeable surety bond agents about the commercial bonds you are interested in.