From Polk County Property & Casualty Agency
Bonds and commercial insurance are both a form of protection against financial loss, but they are both slightly different. There are many industries that have both types of coverage for their business as well as for their employees to insure their services are thoroughly protected. Both a bond and commercial insurance are secured through an insurance agency.
Bonds are an additional form of insurance that companies purchase for protection against the possibility of a loss that a customer may experience resulting from work or services provided by the company. For example, when a janitorial company is bonded, the bonds protects the customer against loss, such as broken items or theft that was caused by one of the janitorial company’s employees. If a customer experiences a loss and the company is bonded, a claim is filed with the insurance company to cover the expense of the loss.
Some of the most common companies and services that obtain commercial insurance as well as bonds include:
- Janitorial companies
- Contractor companies
- Exterminator services
- Motor vehicle companies
- Landscaping companies
- Jeweler stores
There are several advantages for certain industries that are both insured and bonded, especially for businesses that provide services, such as a moving company or housecleaning company that work in the homes of their clients, because it is assurance of full financial coverage by the service provider.
Please contact us for additional information on the benefits of insurance and bonds for your business in the Bartow, Lake Wales, Winter Haven, Lakeland, Mulberry and surrounding areas. We are conveniently located in the heart of Bartow on Main Street.