Business Services Bond 3c. ($10,000) - 16 or more employees — required surety bond in Federal. Apply online in minutes.
A Business Services Bond is a type of fidelity bond that protects a business's clients from financial loss due to employee theft or dishonest acts. It guarantees that if an employee steals from a customer's home or office while providing services, the client can be compensated. Coverage amounts vary, so businesses must verify appropriate limits based on their specific operations.
This bond is typically utilized by companies that send employees to work at customer premises, such as cleaning services, home health care providers, pet sitters, or contractors. This specific classification applies to larger businesses with 16 or more employees that need broader coverage for their workforce. Exact requirements vary by industry and client preference.
Customers and obligees generally require this bond to ensure they are protected against potential employee misconduct while granting access to their private property. Having this bond demonstrates professionalism, builds trust with clients, and provides a financial safety net for the customer. Specific mandates vary, so businesses should verify requirements with their clients or contracting agencies.
To get started, simply click Apply Now to complete our secure, approximately 5-minute online application. Our team at Noah Insurance Agency will review your submission and provide a tailored quote. Once your application is finalized and payment is processed, your bond will be delivered directly to you by email.
General liability insurance covers third-party bodily injury and property damage, while a business services bond specifically covers financial losses due to employee theft or dishonesty on a client's premises.
Premiums vary based on factors like the total coverage amount, the exact number of employees, and the business's operational history. Apply online or contact Noah Insurance Agency at 814-718-0060 for an exact quote.
Yes, because these bonds are rated based on the size of your workforce, significant changes in your employee count may require an adjustment. Verify with your issuing agency to ensure your coverage remains accurate.
The bond protects the clients or customers of the bonded business. If an employee commits a covered dishonest act, the affected customer can file a claim to recover their stolen assets.
Send us a note or call 814-718-0060 — a licensed agent will confirm the bond amount and requirements for you.
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