- Where to Get A Surety Bond?
- What Should You Look For In an Agent?
- Not Sure if You Would Qualify?
Surety bonds are an important part of many industries, such as construction and real estate. These bonds essentially act as a contract between three parties: the principal (the business owner), the obligee (the government agency or other entity requiring the bond), and the surety company (which backs up the bond with its own assets).
Surety bonds are sold by surety bond companies. There are about 100 licensed and admitted surety companies in the U.S.
There are a few ways to obtain a surety bond. One way is to look for a surety bond provider by yourself, by doing research and looking for a company that offers the best rates and has the highest financial strength rating.
The other way is through an insurance agency such as Idea Development Group. We can help you with all insurance needs including surety bonds. Our knowledgeable agents will be able to help you find the best option for your business or individual needs.
What Should You Look For In an Agent?
Most surety bond agents are able to provide you with a free quote and help you get set up with the right company for your needs. It’s important to find an agent that is licensed in the state where you need your bond, as well as one who can obtain bonds from multiple companies. That way, your agent can compare rates and make sure you get the best price for your bond.
Once you have a surety bond, it’s important to maintain a good business relationship with your agent so that if you ever need another bond, the process will be smooth and painless.
In order to find the best surety bond agent, look for one who has experience in the field, is knowledgeable about the surety bond industry, and is easy to communicate with. You may also want to look for an agent who offers free resources that can help you learn about surety bonds.
Not Sure if You Would Qualify?
If you have a credit history that may need to be repaired, consider talking to an experienced broker who can help you find a good fit. A broker will likely help you find the best opportunity for your bond and take care of the entire application process for you, so it’s a great option for busy business owners.
IDG has been helping businesses nationwide get bonded since 2002. Our Surety Bond Specialists are known for their expertise and ability to build strong relationships with clients. We work hard to ensure every interaction with our team is positive and professional.
If you are ready to get your surety bond, contact us today. We have been helping businesses find surety bonds and other insurance products for over 20 years. Call 1 (914) 633-3333 to get started today!