What exactly is bond insurance? Bond insurance is a risk mitigation resource that helps businesses been known to help businesses maximize their growth opportunities. Purchasing bond insurance is a process that involves working with credit-worthy contractors and other entities due to the risk involved in purchasing business assets. To learn more about how bid bond insurance works, call the team at American Insure-All today for a bid bonds insurance broker in Everett.
Entering a bond agreement with another business or entity means that the scheduled interest and principal payments are paid in the event that a bond issuer – or another business – defaults on principal payments. Bond insurance ensures that an investor or another entity entering into an agreement continues to receive principal and interest payments should a business default on payments. The creditworthiness of a bond purchaser is a factor in securing bond insurance.
Bonds help businesses grow by allowing them access to more available resources. For example, by establishing a bond with an investor, businesses can feel more secure about using those resources to boost their business. This also helps a business to mitigate financial risks.
At American Insure-All, our team of highly trained and reputable insurance agents has over 30 years experience working with businesses secure bond insurance.
Some of the common types of bond insurance include:
– Contract performance bonds
– License and permit bonds
– Payment bonds
– Bid bonds
– Supply bonds
– Maintenance Bonds
– And many others…
For more information on bond insurance, contact your local American Insure-All insurance agent for questions. Call American Insure-All today at (888)411-AUTO to speak with a bid bonds insurance broker in Everett.