Do I Need a Surety Bond?

You only need to purchase a surety bond if you've been told to purchase a bond by a:

• Licensing agency
• Permitting agency
• Business who is contracting services for a project
• Probate court
• Business with a private health or stock investing program

In nearly every case you'll be explicitly told you need to purchase a surety bond.

The only case where you would elect to purchase a surety bond would be if you own a business that has employees entering your customers private residence. This bond is called an employee dishonesty bond.

In this specific case, purchasing a surety bond can provide additional protection for your customers which can help you win more business.

What is the Purpose of a Surety Bond?

We are not going to cover the full details of what is a surety bond here.

At a high level a surety bond is a legal contract you purchase as a guarantee of your businesses performance.

For example:

• A contractor is guaranteeing to complete projects following legal building codes
• A mortgage broker is guaranteeing to find and sell the best mortgage product
• A legal guardian is guaranteeing to protect a child inheritance until they turn 18
• A business is guaranteeing their employees will not steal from a customer's property

You purchase a surety bond for your customer's protection.

How Do You Find and Get the Right Surety Bond?

It is confusing because while all surety bond serve the same purpose, there are hundreds of different types.

To find the type of surety bond you need:

• Click here and use our bond search
• Click here and go through our Bond Finder quiz

If you use the bond search, a tip would be to type in your profession.

But if you are new to this... use the Bond Finder quiz and after answering only a few simple questions you should get matched to the bond you need.

If you need personal help, call a real bond specialist at 1-800-608-9950 and we can help you locate the bond you need.