Financial Institution Bond Guide
Do you need a Financial Institution bond?
You want this bond if you are interested in protecting a financial institution from financial loss due to employee dishonesty. For example, if an employee commits acts such as burglary, robbery or forgery, a claim can be filed.
Apply on our website, get approved, provide payment and we will ship the bond out to you.
They are obtained by but not limited to banks, mortgage companies, credit unions, insurance companies, loan associations and stockbrokers.
Yes. For example, a bank would obtain a financial institution banker's blanket bond to protect the bank from employee dishonesty like fraud, burglary, forgery and theft.
Both bonds provide protection against employee dishonesty. However, financial institution bonds pose a unique risk to the surety company, making a separate bond type and application necessary.
You will be contacted by the bond company that wrote the bond, and it is important that you respond to them immediately. You will then have the chance to refute any false claim and discuss the situation with the claims department to prove that the claim is false.
Surety Bonds do not protect you
The bond is a form of insurance for your clients, which is why many businesses proudly list that they are bonded on their marketing material. However, you will be required to reimburse the bonding company should a claim be paid out.
Fidelity Bonds protect your business
You can protect your business from employee theft and fraud by purchasing a fidelity bond. You can read more in our fidelity bond section.
What's your bond cost?
Bond costs vary by applicant, bond amount, bond type & the agency you choose. You can get a general idea of costs using our Quick Estimate tool to the right or an exact quote instantly online!
Why our rates are so low
When it comes to surety bond insurance, there is safety in numbers. As the largest volume writer in the country, we are able to obtain the lowest rates from the strongest bonding company partners.
"Prompt, professional service!"