As a contractor in San Diego, you need to be bonded.
There are a variety of bonds available that will help ensure your customers have peace of mind when they hire you for their projects. Our goal is to help you keep the costs of the bonds down, while ensuring you are adequately covered should a problem arise.
Some of your San Diego Surety Bond options are:
Licensing Bond – This bond promises that the contractor will operate his/her business as stated by the local or state government. This is a fully indemnified bond, you must repay the surety any amount paid on your behalf and any payment made by them results in automatic license suspension.
Bid Bond – With this bond, your bid will be scrutinized very carefully to ensure you will stand by your price and time quote and sign the contract, even if your bid is quite low. If you do not sign the contract, the bonding company will pay the difference to the next lowest bidder who will then complete the project.
Performance Bond – This bond protects your clients if you are unable to finish a project. The bonding company steps in and provides the necessary funding to complete the original contract.
Labor & Materials Bond – These are most often used together with the performance bonds. They protect your client to ensure your suppliers are paid or, if not, that the bonding company will have to clear up the problem.
We’ll help you get bonds so you can get the jobs.
When we discussed our business with our old insurance agent, he didn’t know that when we referred to JAVA, we didn’t mean Columbian coffee. It is nice to do business with an insurance agent who understands the IT world and can best alert us on how to protect our business. We spend less time worrying about if our agent understands what our business is doing and how to cover it and more time concentrating on how to grow our business. Our business is dynamic and ever changing. The Insurance Place has been a strong consultant for our business.
What Does Property Insurance Cover?
Property insurance protects your home and personal items from loss and is usually included in a homeowners or renters insurance policy. Personal property insurance covers the cost of repair or replacement of items, such as furniture, electronics and clothing if they are damaged or stolen. While damage caused by fire, storms and explosions are included in personal property insurance, damage caused by earthquakes and floods often require an additional insurance policy.