Where to Get Bonded and Insured
Bonds are often an essential part of doing business and part of other important life events. Main Street America Insurance understands the importance of providing you with the correct bond for your unique situation. Let us help you get bonded for business or your individual needs.
Ready to buy a surety bond or fidelity bond? Find an agent to get started.
What is a Surety Bond?
A surety bond is a contract between three parties: you (the principal), the party requiring the bond (the obligee), and the surety company. The bond acts as a guarantee that you will follow the terms as outlined in the bond form or contract.
What is a Fidelity Bond?
A fidelity bond is a type of insurance between two parties: you (the principal) and the surety company. The bond provides protection against financial loss caused by a type of activity outlined in the bond. For example, it may protect your business from the costs of employee dishonesty.
Types of Surety Bonds & Fidelity Bonds
There are many different types of surety and fidelity bonds. We offer bonds for various situations, including small business bonds, notary bonds, and bonds for individuals. Some of the bonds that we offer include these below, but we offer many more!
Performance Bond
Guarantees your work according to the requirements of the contract
Payment Bond
Guarantees that you will pay per the conditions of your contract.
Probate & Executor Bonds
Holds you responsible for completing duties in good faith
License & Permit Bonds
Covers government requirements for gaining a license or permit
Court & Fiduciary Bonds
Guarantees you will complete your court-obligated duties
Business Services Bond
Provides protection against a customer’s loss caused by employee dishonesty
Transportation & Waste Hauling
Holds you responsible for transporting goods and waste properly
Public Officials Bond
Guarantees that an official will comply with conduct rules and laws
ERISA Bond
Fulfills requirements under the Employee Retirement Income Security Act of 1974
Who Needs a Surety Bond?
The government or other entities may require a surety bond for business registration, transactions, and other events. Here are just a few scenarios in which you may need a bond issued:
General Construction and Contractors
A Performance or Payment contractor bond helps to reassure an owner that you’ll perform the work as promised in your contract. This means you promise to pay everyone you hire and follow the other terms of your agreement. These bonds strengthen your project proposals and provide value to your clients.
What type of contractors need a bond? You might need one if you’re a plumber, roofer, HVAC contractor, electrician, general contractor, subcontractor, or other artisan contractor. These are just a few examples of contractors who need bonds — we recommend you work with your local insurance agent to determine what you need for your unique situation.
License and Bonding for Small Business
Before you ever open your doors for business, local laws may require you to obtain a bond. License and Permit bonds are required to obtain a license or permit in a city, county, state, or for federal projects. For example, a License bond is a common requirement for liquor stores, auto dealerships, mortgage brokers, and many others. Business owners should check their local requirements to determine if a bond is needed for their particular license. Your insurance agent may also be able to help you determine this information.
Court and Legal Proceedings
If you’re involved in court proceedings for a will, for guardianship over a child, or other circumstances, you may need a bond. The court may order that you obtain a bond to ensure you follow the rules they have outlined.
Public Officials and Notary Public
If you work for your local city, township, borough or state, your job may require you to have a bond. Some people that may need bonded include: treasurer, city manager, sheriff, justice of the peace, court clerk, or notary. The bond serves as a guarantee that you will follow the laws and regulations that the government requires.
Coverages may not be available in all states and exclusions may apply. Terms, definitions and explanations are intended for informational purposes only.
How Much is a Surety Bond?
A surety bond will vary in cost based on several factors. Some bonds can cost as little as $50 while others may cost upwards of $10,000 and more. Some factors include: the type of bond, the value of the bond, your financial history, and more. Because every situation is unique, it's best to speak to an agent to discuss your needs.
Bonds from a Company You Can Trust
Main Street America Insurance has been in business for over 100 years, serving people in communities across the country. We have an “A” (Excellent) financial rating from A.M. Best, and we are listed with the U.S. Department of the Treasury’s Listing of Approved Sureties. You can count on us for superior service and financial protection when you need it most.
Get a Surety Bond Quote
We partner with local agents to provide the quality and expertise you need when choosing a bond. Your independent agent will work with you to find the right bond for your unique situation.
Reach out to a local agent today to get started.
