Surety Bonds

Surety Bonds in Insurance - Hanby Insurance

 

At Hanby Insurance we can help you with your surety bond needs. A surety bond is a guarantee that the Principal (you or your company) will complete a task for an Obligee, the party who requires the bond. The Obligee can make a claim to recover a loss should the principal fail to complete the task. If the claim is determined to be valid, the insurance company will pay the reparation which cannot exceed the bond amount. The underwriter will then expect the principal to reimburse the insurance company for any claims paid.  Bonds are not insurance, a bond is a form of credit that is why the principal is responsible for paying any claims.

Bid, Performance & Payment Bonds (Contractor’s Bonds) • Dealer Bonds • Fidelity Bonds • Notary Bonds

Employee Dishonesty Bonds • Lost Title Bonds • Public Official Bonds • License & Permit Bonds