An entity that requires bonding needs to pay premiums to cover potential losses from any future accidents that may happen during their term of coverage.
Insurance companies exist to assure reduction of possible risks. It means having enough funds available when needed to handle expenses incurred by contract breach or failure of compliance.
Northwest Insurance Agency offers surety bonds in Dallas and surrounding areas to protect you from losses due to non-performance or default. We’ve been providing this service since 1970 and know what matters most for you: reliability, efficiency, and customer care!
How surety bonds cover financial losses
Surety bonds work in the same way as insurance policies. It’s just that instead of insuring against damages and injuries, you’re insuring against the financial consequences of a breach of contract. A surety bond is an agreement between three parties:
The benefits of surety bonding include:
Types of Surety Bonds
Some bonds protect people from fraud or dishonesty in the workplace, while others intend to guard against money loss. These are the different types of surety bonds, and we recommend each for various purposes.
Securing successful contracts in Dallas since 1970
Northwest Insurance Agency has a team of agents on staff knowledgeable about the risks and needs of small businesses. We provide competitive prices, cutting the times and costs of your projects. We also offer other insurance services so that Texas business owners can guarantee risk management policies.