You may think you’re fully covered, but sometimes you need a bond to guarantee a financial obligation.
General liability insurance, professional liability insurance, commercial auto insurance, worker’s compensation insurance, commercial umbrella policy and cyber insurance may not be enough in some circumstances. Cragin & Pike can perform an in-depth review of your business and financial wellbeing and make sound recommendations.
A bond, also known as a surety bond, is an agreement between three entities: the principal (the entity that purchases a bond), the obligee (the entity that receives the benefit) and Cragin & Pike. The bond doesn’t pay for claims, but provides a financial guarantee that the entity purchasing the bond will reimburse the obligee if the principal defaults, fails to fulfill its obligations, or a claim is made.
Bonds are needed for a variety of reasons including:
Construction Bonds & Contract Bonds
- Payment & Maintenance Bonds
Commercial & Court Bonds
- Bank Depositor
- Wage & Welfare
- Self-insured Bonds
- and many more
Fiduciary & Probate Bonds
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Ready to create a customized plan to safeguard what you’ve built and ensure your future success? We’re a cohesive team of insurance and risk consultants, ready to serve you.