On occasion individuals or Wisconsin businesses have a need for a bond in addition to their insurance coverage. This can range from a simple Wisconsin notary public bond all the way to a contractors performance bond. Wisconsin Bonds are not insurance but instead a guarantee by the bond company on your behalf.
The most common types of Bonds are performance, bid, indemnity, payment and license. The cost of a bond varies greatly based on the type and amount of bond needed.
Many bonds will require an application completed and submitted for approval. Because a bond company is providing a guarantee, be prepared to provide financial information or in some cases a tax return or audited financial statement may be required.
The trusted professionals at Community Insurance & Associates can help you when the need for a bond arises. Representing quality bond companies such as CNA Surety, Pekin Insurance Company, National Specialty a division of West Bend Mutual and The IMT Group.