Business Service Bond
Business Service Bond (Protects Your Customers from Theft) Information. A Business Service Bond is a type of surety bond that protects your customers from acts of theft, larceny or fraud committed by you or your employees.
This bond provides protection against financial liability for the loss of a customer’s money, securities, and personal property. Business service dishonesty bonds protect the business owner from the theft of personal property by dishonest employees.
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What Does a Business Bond Cover?
There are three types of fidelity surety bonds: Business Services Bond: These protect against employee theft of or damage to client and customer assets such as money, personal belongings and supplies. Employee Dishonesty Bond: This type of bond protects a business from losses due to employee dishonest behavior
What is a Surety Bond and Do You Need it?
Surety bonds are legally binding contracts that ensure obligations are met—or in the case of failure, that recompense will be paid to cover the missed obligations. Surety bonds can be used to ensure government contracts are completed, to cover losses arising from a court case or to protect a company from employee dishonesty.
What is a Dishonesty B Bond?
An Employee Dishonesty Bond is a type of Fidelity Bond that protects your business from dishonest acts by your employees. This includes protection against fraud, embezzlement, forging checks, stealing money or merchandise, and so forth.
How Much does a Business Service Bond Cost?
The median cost is a better estimate of what your business might pay than the average cost as it eliminates high and low outliers. Most small business owners (55%) pay between $100 and $200 per year for a surety bond and 16% pay less than $100 per year.