Protecting your future interest of your business.
Commercial bonds are a unique form of protection that is similar to an insurance policy. Bonds represent a guarantee that a business is credible and adhering to the laws and regulations that govern their field. If a customer or third-party believes that they have been a victim of a commercial bond holder failing to adhere to industry regulations, then they can file a claim. The company who sold the bond will investigate the claim and, if legitimate, they will pay the claim amount to the client.
Not every business requires bonds. Generally, bonds can be broken down into three main categories: construction and contractor bonds, license and permit bonds, and court bonds. If your business is part of these industries, then it’s important to check with your state laws to see if you are required to carry a commercial bond. If your business needs assistance with securing the right bond, then contact the experts at Artisan Insurance Solutions. Our team has the extensive experience to help every business, whether it be a small contracting firm or a large corporation, get the protection that it needs.