Guaranteeing your professionalism and reliability.
If you are providing services, particularly in consumer’s homes, it is important to be bonded and insured as recommended by consumer advocates such as the Better Business Bureau. Bonding and insurance provides important protection to your customer and reassures them that the work that was promised will be completed correctly and on time. Depending on the coverage, it can also provide protection for both you and your customer in the event of property damage or theft.
To be bonded and insured, your company makes payments to a surety company for bond protection and premiums to an insurance company for insurance coverage. The bond warrants to your customer that the contracted work will be done on time and correctly or they can submit a claim to the bond company for reimbursement.
Many service related businesses forgo bonding and run the risk of damaging their reputation and financial loss due to work not properly executed by employees, or lose the job opportunity due to savvy consumers that will only do business with bonded and insured service providers.