What is bond insurance?
An issuer of a bond can purchase bond insurance to guarantee scheduled payments of interest and principal on the bond to its bondholders in case the issuer defaults. Once the issuer purchases bond insurance, its credit rating is replaced with the insurer’s credit rating. Premiums are a measure of the perceived risk of failure of the issuer and are paid to the insurer in either lump sums or installments.
What are the benefits of being bonded?
Being bonded gives issuers the ability to leverage business growth. With the increased stature of having the insurer’s credit rating, a business can feel safer in taking risks to improve and grow the business. This is especially true in the construction and financial industries.
A bonded business can obtain unbiased criticism from a credit professional and seek advice in underwriting projects.
Some bonds we handle include, but are not limited to, the following:
- Contract performance bonds
- Bid bonds
- Maintenance bonds
- Payment bonds
- Supply bonds
- License and permit bonds
- Miscellaneous bonds
Can I purchase a bond now?
We have a partnership with bond carriers that allows you as the consumer to purchase the bond you need immediately! Most of the common bonds qualify for immediate issuance online from the website so it's a hassle free process for you.
To start this process and purchase your bond now, go to our bond website by clicking here or paste this link in your browser (https://essigmannins.propeller.insure/axelerator-public/). If there's any questions during this process, use the Live Chat button on the bottom right hand side of the page or call 815-595-2008 for assistance.
Get started today!
Contact us today, and we can answer any questions you have about bond insurance.