Insurance Bonds
If you need an insurance bond to bid on or get hired for a new job call us. We're insurance bond experts and we'll get it taken care of you... Fast!
What is an Insurance Bond?
An insurance bond ensures contract completion in the event of contractor default and is typically required by project owners when seeking a contractor to fulfill a contract.
The contractor obtains a bond so the insurance company is obligated to compensate the project owner for the financial loss incurred if the work is not completed.
Typical Insurance Bond Types
Although there are many types of insurance bonds, the four most common types needed by business owners are:
- Bid Bond – Ensures the bidder on a contract will enter into the contract and furnish the required payment and performance bonds if awarded the contract.
- Payment Bond – Ensures suppliers and subcontractors are paid for work performed under the contract.
- Performance Bond – Ensures the contract will be completed in accordance with the terms and conditions of the contract.
- Ancillary Bond – Ensures requirements integral to the contract, but not directly performance related, are performed.
Contact us to learn more about the right insurance bond for you.
Personal Attention Given To Protecting Your Business
At Pivotal Insurance Services, we understand that your business is unique and deserves individual attention. That’s why we pride ourselves on providing personal service that goes beyond the typical insurance experience. As a dedicated business insurance company, we are committed to safeguarding your venture and helping it thrive.