Surety bonds can be a very complex topic and marketplace. Having a broker who is able to understand the complexity of this marketplace completely is crucial. At Premium Insurance Brokers, we constantly strive to differentiate ourselves from the rest, for instance our ability to provide clients with specialized bonds. We actively monitor the construction industry for any changes in order for us to guarantee that your bond facility is current.

We are able to provide our clients with the two most common forms of surety bonds:

1. Construction Contract Surety Bonds: One of the most commonly used forms of bonding in the construction setting. These are used to protect owners and suppliers from possible consequences of a contractor defaulting on a project. These provide a guarantee that the contractor will follow the directions of the contract. The most commonly used construction bonds are, for instance, Bid Bonds, Performance Bonds, and Labour & Material Payment Bonds.
2. Commercial Surety Bonds: These types of bonds provide a guarantee that any financial institution, government body, or private corporation’s security requirements are adhered to. They also guarantee that any financial risk is protected via legal compliance by the principle. Some of the many areas offering protection to the end user are monetary losses, fraud, and/or misrepresentation.

If this is a type of policy you are interested in, contact us to receive a FREE, no obligation quote today!