Insurance bonds, also known as surety bonds, are a form of promise that if a project or situation doesn’t go as planned, everyone will be paid as agreed upon at the start. For example, if you are a contractor, you (the principal) may be required by a government agency (the obligee) to carry a bond (surety) to work on certain government jobs. If you default on the job, workers and subcontractors under you will still get paid.
There are many different types of bonds for various situations:
License and Permit Bonds
Financial Institution Bonds and D&O Coverage
Our independent insurance agents will meet with you to discuss exactly what type of bond you need to be in compliance with your project or business. Your assets will be protected in the event of an unplanned emergency. Insurance bonds are typically dictated by state and municipal laws. We will make sure you have the right surety for your unique situation and explain to you how surety bonds work in various industries, so you understand your commitment to the relationship.
Call SNA Insurance at 502-243-2234 today to inquire about insurance or surety bonds for your business, profession, or upcoming contracting project. We service many businesses in the Crestwood area, and we can give you the security of operating legally within the parameters of your insurance bond requirements.