What is a Surety Bond? A surety bond is a promise to be liable for the debt, default, or failure of another. It is a three-party contract by which one party (the Surety) guarantees the performance or obligations of a second party (the Principal) to a third party (the obligee). However, unlike insurance, a bond requires the Principal to reimburse the Surety for any claims paid against the bond. For more information on Bond vs. Insurance, click here.
For agents eager to grow their book of business among new or existing customers, surety bonds provide a low maintenance revenue stream with a high retention and low loss ratio.
Types of bonds written include but are not limited to Contractor Bid/Performance/Payment, Employee Dishonesty, Janitorial, Municipal/State License and Permit, Notary, Probate, Public Official, Private Detective, Real Estate Brokers, and other miscellaneous bonds. Number One Insurance is making it easy to help you obtain bonds for your clients!
Scroll down for a list of applications.
Contract Bond up to $500,000 (Prequalification/Bid/Performance): Return with items listed on the first page depending on submission via secure email or our secure portal.
Board Members Dishonesty
Business Services Janitorial (includes marketing flyer)
Employee Dishonesty (includes marketing flyer)
ERISA (includes marketing flyer)
Generic License & Permit
Private Detective, Watch, Guard, or Patrol Agency
Real Estate Broker
Bonds for the following towns/cities are also available:
- City of Boston Public Works Street Opening
- City of Boston Water & Sewer Commission
- City of Cambridge Drain Layer’s
Return the completed application to Judy Carlson at [email protected]. Do not return to the carrier.
Don’t see a particular bond application? Email Judy Carlson the type of bond and amount needed, and we will see what we can do!