Many business owners have the need for bonds for their Connecticut small business. Bonds aren’t insurance policies and sometimes the best way to get a bond is through a bond specialist, but Encharter Insurance does offer some bonds for your CT business needs. Especially in the instance where a large project or task may arise, you need to be able to guarantee that the job will be finished. As is the case with life, and in business, there is no predicting what can happen and that is where bonds can help add some security to your business. Encharter Insurance can help get you the bond(s) you need for your Connecticut business, no matter how big or small, with a bond to ensure completion.
We offer the following bonds:
- Performance – to guarantee the performance of work after a contractual agreement
- Indemnity – should a party fail to meet deadlines, losses are guaranteed
- Bid – after winning a bid, the beginning of work is guaranteed
- License – a bond guaranteed to a state or deferral agency
- Payment – payment is promised to all sub-contractors and vendors
One of the most common types of bonds for a small business owner is a fidelity bond. These can help cover an insured for losses incurred as a result of fraudulent acts by employees. It may seem like something that could not happen at your business, but it is surprisingly more common than you think. Under fidelity bonds there is a specific coverage for employee dishonesty, so you won’t be held liable. It can help protect a business owner in the event of mishandling of the company’s money or property by an employee.
Unfortunately, there are many risks with owning a business no matter your industry, how trustworthy your employees are, etc. The above is just one example of a risk that can happen to any business owner and the use of a bond and the coverage it can offer to help cover your business against that risk. Protect your business and make sure that if something does happen, you won’t be left without coverage.
If you are in need of a bond, give Encharter agents a call and they can help you through the process. If you are able to let them know your specific needs, much like they did with your commercial insurance policies, they can get you the right bond. Working with an agent can help you make sure you have the proper bond for your industry, situation, etc. will be happy to walk you through the process and help you decipher the best bond for your needs.
Give our agents a call at 888.754.8299 or fill out our online form to learn more or to get a quote on a bond.
Check out our customer testimonials to see what our clients are saying!