Many businesses including general contractors, electricians, plumbers and other subcontractors, as well as attorneys or notaries public, require commercial bond coverage. On the personal side, they may be sought for legal, investment and estate purposes. Phil Richard Insurance has experience providing solutions through a wide array of national companies to meet your individual and commercial bond needs.
Key Facts on Commercial Bonds
- A commercial bond is a type of liability coverage for employers who want to protect themselves against losses resulting from dishonest employees.
- A commercial “blanket” bond policy provides coverage for all of an employer’s employees.
- These bonds are valued up to a maximum amount for any single loss, regardless of the number of employees involved. This also applies if the business owner is not able to determine the number of guilty employees.
Frequently Asked Questions
The commercial team at Phil Richard Insurance will help you figure out what your requirements are in order to comply with the law. Email: firstname.lastname@example.org or call us at 978-774-4338.