Surety Bond Companies
FREE Surety Bond Quotes - Find a Surety Bond Company
A surety bond is a bond issued by a surety bond company (the surety) that guarantees the performance or contractual obligation of the primary party (the principle) for the benefit of the person whom the primary party is working for (the obligee). In other words, surety bonds guarantee that a person or company will do what they say they will do, or the bond issuer will make financial amends with the recipient of the work.
There are many types of surety bonds and many surety bond companies, so you need to compare rates for the bonds you need. The quickest and easiest way to do this is by using NetQuote, an online aggregator of surety companies and business insurance providers. NetQuote will provide you with FREE, no-obligation surety bond quotes from leading surety bond companies, allowing you to compare rates and coverages.
Do You Need a Surety Bond Company?
A surety bond is a contract between three distinct parties. The principle is the person or company that is contractually obligated to perform. The obligee is the client of the principle, or the recipient of the contractual obligation. Finally, the surety is the company (usually an insurance carrier) that guarantees the principle will perform per the contract terms, or they will reimburse the client.
Surety bonds come in many different varieties for many different industries. While many people consider a surety bond to be surety insurance, this is inaccurate. Surety bonds are a form of credit, so they are not technically an insurance product.
A surety bond company issues several different kinds of surety bonds, including commercial bonds and contract bonds. A commercial bond is generally required by the state or locale in which a business operates to guarantee the company's performance. Examples include health club bonds, auto dealership bonds, payday loan bonds, and travel agent bonds.
A surety company also issues contract bonds that are used to guarantee a specific contract. Examples include bid bonds, construction bonds, supply bonds and site improvement bonds.
Surety Bond Quotes
If you or your company needs a surety bond, it is best to obtain multiple quotes to find the surety bond company that is right for you. To save a great deal of time, use NetQuote to quickly get quotes for surety bonds from multiple surety bond companies. NetQuote's unique online request form allows you to fill out one quick form and receive back quotes from multiple providers.
Get your FREE, no-obligation surety bond quotes from NetQuote today!