Welcome to our new blog! Every Tuesday we will feature a product
that you might have, need, or just want more information about!
We’re going to start with one of Capital’s most popular product –bond coverage.
The most important thing to know is that bonds are not insurance policies –
they are guarantees.There are many reasons that you might need a bond for your business. Here are just a few…
- As a business owner, you may need a surety bond to guarantee payment for state sales taxes.
- As a contractor, you may need to post a license or permit bond to guarantee your work for licensing requirements.
- Attorneys may have clients that are required to post court bonds, such as administrators or executors bonds, to guarantee their performance while distributing assets in estate situations.
- Notary publics are required to post bonds in most states.
Capital can provide you with the following
types of bonds:- License – a bond guaranteed to a state or federal agency
- Indemnity – guarantees any loss should a party fail to meet deadlines
- Payment – promises payment to all subcontractors and vendors
- Performance – guarantees the performance of contractually agreed upon work
You can easily apply for a bond by completing one of the applications on the Capital Insurance
bond page. For more information and help with bonds, please contact Angie
Moberg by email or at (517) 482-7900.
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