• Can I get a Surety Bond with bad credit?

    Yes, it is possible to get a surety bond with bad credit, though it may come with higher premiums. Many surety companies offer programs specifically designed for businesses with credit challenges. It's essential to work with an experienced agent who can help you navigate [...]

  • What happens if a claim is made against my Surety Bond?

    If a claim is made against your surety bond, the surety company will investigate the claim to determine its validity. If the claim is found to be valid, the surety will compensate the obligee up to the bond amount. However, the principal (your business) [...]

  • How long does it take to get a Surety Bond?

    The time frame to obtain a surety bond can vary based on the type of bond and the complexity of your business operations. Typically, it can take anywhere from a few hours to a few days. For more complex bonds, the process might take [...]

  • What does Surety Bonds Insurance not cover?

    Surety Bonds Insurance does not cover direct business losses, damages to property, or liability claims. For instance, if your business suffers from property damage, you would need a property insurance policy to cover those losses. Surety bonds are specifically designed to guarantee contractual obligations [...]

  • How do I file a claim for a commercial crime loss?

    To file a claim, contact your insurance provider as soon as the crime is discovered. Provide detailed documentation of the loss, including police reports, financial records, and any other relevant information. Your insurance provider will guide you through the claims process to ensure a [...]

  • Can Commercial Crime Insurance cover losses from online scams?

    Yes, many Commercial Crime Insurance policies include coverage for computer fraud and funds transfer fraud, which can protect against losses from online scams and cybercrimes.

  • How is Commercial Crime Insurance different from Fidelity Bonds?

    Fidelity Bonds are a type of insurance specifically designed to protect against employee dishonesty. Commercial Crime Insurance provides broader coverage, including third-party fraud and cybercrime.

  • Is Commercial Crime Insurance mandatory for businesses?

    While not legally required, Commercial Crime Insurance is highly recommended for any business that handles significant amounts of cash, securities, or valuable property. Some contracts may also require it.

  • What does Commercial Crime Insurance not cover?

    Commercial Crime Insurance does not cover property damage, bodily injury, or cyber liability. For instance, if your business experiences a data breach, you would need Cyber Liability Insurance to cover the associated costs and damages.

  • What should I do if I need to file a Garage Liability claim?

    If you need to file a claim, contact your insurance provider as soon as possible. They will guide you through the process, which typically involves providing details about the incident, submitting any necessary documentation, and cooperating with any investigations.