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Protecting your interests.

Beyond insurance, we help businesses and individuals put bonds in place to protect their interests.

In addition to all of the insurance products and services we offer, our agency can help business owners and individuals with placing a surety bond.

What are bonds?

Surety bonds are required of many businesses to help protect the best interests of consumers, commercial businesses, and tax payers. They’re designed as a guarantee that actions will be performed, consumer finances will be handled appropriately, or that business will be conducted in accordance with state or local laws and regulations.

In construction contracts, the bond guarantees work will be performed and completed on time to specification, subcontractors will be paid, and the contractor has the finances, equipment and experience to contract for the type of work specified.  In construction contracts for local, state or Federal Government work, the surety bond guarantees that the highest quality work is performed for the lowest price using a “bid” system.

Surety bonds are put into place between three parties:

  • The principal (i.e. contractor, individual, independent business owner);
  • The obligee (the entity requiring the bond);
  • The surety (insurance agency and surety that underwrites the bond.  For regulatory reasons most – but not all – sureties are part of a larger insurance company)

Insurance is a risk transfer product against financial loss. Insurance companies expect to pay out money on losses. Although structured and sold by insurance regulators and insurance agencies, bonds are not a type of insurance. In contrast, surety bonds are a 3rd party guarantee of some action underwritten to a 0% failure standard.  Instead of paying out money for a loss, a surety may hire multiple contractors to speed up a project so that it finishes on time. The surety will then recover the additional cost of hiring those multiple contractors from the principal.

I need a bond for my business or project. How can your agency help me?

As a partner of Keystone, we have access to a national surety, which means we have the additional resources and underwriting expertise it takes to place almost any bonds, from small and large contractors to unique or difficult bonds. Whatever your challenge is, talk to us.

We can write bonds for nearly any sort of industry like:

  • Agriculture
  • Construction
  • Energy
  • Food/Hospitality
  • Healthcare
  • Manufacturers
  • Retailers
  • Transportation