Business Owners Policy
Property and general liability bundled into one policy for small and mid-sized firms.
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Surety Bonds
A guarantee to a third party that you will perform as promised.
What this cover does
A surety bond is not insurance for you — it is a guarantee to someone else, backed by a surety, that you will perform. If the surety pays out, it seeks the money back from you. That is why bonding capacity is underwritten on financial strength rather than risk of loss.
Typically included
- Bid bonds supporting a tender
- Performance bonds guaranteeing contract completion
- Payment bonds guaranteeing subcontractors and suppliers
- Licence and permit bonds required to trade
- Court and fiduciary bonds
- Maintenance and warranty bonds
Common add-ons
- Bonding lines supporting multiple concurrent contracts
- Capacity reviews as the business grows
- Small-contractor programmes with simplified underwriting
Questions
What people ask about surety bonds
How is a bond different from insurance?
Insurance transfers your risk to a carrier. A bond guarantees your performance to someone else, and you indemnify the surety for anything it pays. It is closer to credit than to cover.
What does underwriting look at?
Financial statements, working capital, bonding history and the owners’ personal credit, alongside the contract itself. Building a relationship before you need capacity is what grows the line.
Often taken together
Related cover
General Liability
Third-party injury, property damage and advertising injury claims against your business.
Read more →Quote Surety Bonds
Tell us what you already have and we will show you where this fits — or tell you plainly that you do not need it.