The Difference Between a Surety Bond and Insurance

It's important to understand the difference between a surety bond vs insurance. In nearly every case, if you're required to purchase a surety bond, you'll also need to purchase insurance.

This video will help you understand the difference between a surety bond and insurance so when you need to purchase them, there will be no surprises.

If you're confused about what a surety bond is:

• Read our What is a Surety Bond article
• Watch our What is a Surety Bond video

Video Timestamps:

• 00:08 - Surety bond and insurance similarities
• 00:13 - Overview of the three main differences
• 00:20 - Difference 1: The Beneficiaries
• 01:05 - Difference 2: The Premium
• 01:46 - Difference 3: The Parties Involved
• 02:45 - The recap