Auto Dealer Bonds

Required by the state
Also known as the DMV Bond
Bond amount varies per state


Surety Bonds vs Insurance

Surety bonds and insurance are two completely different terms. Simply put, an insurance protects your business and surety bonds protect the public. If you want to get Bonded and Insured, the insurance aspect could refer toFidelity Bonds, which protect your business from employee dishonesty


What Does a Bond Cost?

This is our most common question and unfortunately its the one with the least straight forward answer. Though a commercial bond annual premium tends to fall between 1% and 14% of the bond size, this is a larger range and there can be exceptions.


Surety Bond Claims

Since claims on a bond are undesirable for everyone involved, it is advisable to avoid surety bond claims at all costs. However, as an active party to the surety bond agreement, surety bond companies usually extend their support and expertise to principals and help them avoid potentially dangerous situations.


Commercial Umbrella

Most package policies provide a liability insurance limit of $1 million for any one loss and $2 million in any one year. For many businesses, this limit is inadequate for real economic security. As a result, additional layers of protection in million-dollar increments are readily available in today's insurance market for most businesses.


Workers Compensation

Workers Compensation insurance protects employers from claims resulting from injuries to employees. It protects your business from lawsuits and provides employees with compensation for on-the-job injuries.


By law, most employers are required to provide coverage for lost wages and medical bills incurred as a result of on-the-job accidents or illnesses. For many businesses, this coverage is the largest part of its insurance expense.


Business Owners Package (BOP)

Business Owners Package policy, commonly called a "BOP" contains many of the insurance coverages needed by most small businesses. While these policies are not standard, there is great variation from insurance company to insurance company; there are certain common elements. The basic BOP offers business property both building and contents, and liability insurance protection for the operation of your business. This liability protection will generally include both the operation of your business, at its established location, and the liability from your products or completed operations.


Some, but not all of the policies, will also offer business income and extra expense protection after an insured loss. BOP policies do not contain all of the coverages needed by a small business. Notably they do not cover any workers compensation, professional liability, or business vehicle coverage.


Protect your business and those who work for you!

Businesses present unique exposures for insurers, so it is harder to generalize about coverages. The categories of policies listed below are only an outline of the coverages available through our insurance carriers. We can design a protection program that's right for you.

Commercial Auto

A commercial automobile insurance policy is required under most circumstances when the vehicle is used for business purposes and meets certain other requirements. It is not just the registration that determines the requirement for a business automobile insurance policy. Other requirements are ownership by a corporation, use in hauling goods for hire, and gross vehicle weight of the vehicle. Some small trucks can be owned and insured under a personal automobile insurance policy under specific circumstances.


Commercial automobile insurance policies are not regulated in pricing, as are private passenger policies. There is price competition between insurance companies for good commercial automobile insurance.


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How Surety Bonds Work

Surety bonds guarantee to the obligee that if the principal should fail to perform according to contract or regulations, the surety will step in and cover for damages and losses that the obligee may sustain. In turn, the surety has to be indemnified by the principal for the backing it has extended. In this way, surety bonding functions like a line of credit to the principal.


What is a surety bond?

A surety bond is a three-sided contractual agreement guaranteeing that a business or individual will fulfill their obligations under a contract and in accordance with business regulations.
The three parties involved in the surety bond agreement are the obligee (the party requesting a surety bond), the principal (the party obtaining the bond) and the surety (the surety company backing the surety bond financially).

Property / Liability

The general or public liability policy provides protection for claims of liability that are made by third parties. The policy provides defense protection even if the allegations are groundless. In addition the policy will pay any judgment up to the policy limit of coverage.

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