American Insure-All® has your bond insurance in Mukilteo. If you are not familiar with bond insurance, you might inquire “What is it?” and perhaps even, “Why do I need it?”
Bond insurance covers a broad variety of areas. Most people are probably familiar with it as a part of mystery movies or stories as in, “Your bond is set at ten million dollars.” A bond is an amount of money that is set aside to ensure compliance with a promise or fulfillment of a goal. In the mystery stories, of course, that goal is to keep the suspect from skipping town. In business, a bond can be posted for a variety of reasons, but the primary one is to ensure that a process or project is completed as promised. Bonds can also be purchased as an investment in a project or process. For example, a city might sell bonds to raise money to build a new school or library. The bonds accrue interest and, when mature, can be cashed in for the amount of the original investment plus interest earned. Bond insurance protects that investment against adverse conditions, such as a drop in property values, which might prevent the city from making good on paying back those bonds when they mature. In the case of businesses, bond insurance protects escrowed accounts that are intended to cover operational costs, making sure that the project is correctly funded.
American Insure-All® has your bond insurance in Mukilteo, just give us a call at 888-411-Auto. Our knowledgeable agents will walk you through the process and help you select the type of insurance you need for your particular business operation. However, we don’t usually try to help solve mysteries – we leave that up to the law enforcement agencies.