Surety Bonds

Smarter Surety Bonds

Save up to 35% on your surety bonds insurance

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Rated 5 stars

In the course of business, it is not uncommon to make promises and guarantees. A builder may guarantee to finish a project on time, or complete a service at a certain cost. A third-party contractor may guarantee that their team can be trusted entering a premises. These guarantees are important, but they need an additional level of protection beyond just a good word. That additional protection comes in the form of a surety bond.

What makes Foxquilt different?

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Our quotes let you save up to 35% on your premiums and trim down your policy to only the coverage details that will benefit your business.

Rated 5 stars by business owners

See why other business owners, just like you, love Foxquilt's smarter coverage, 5-star service and insurance built for them.

As a small business owner Foxquilt was perfect for my needs.read more

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Dan MacRiner
10/12/2021

I used Foxquilt for Commercial Insurance and we needed it rather urgently for our home based business. They were really friendly and helpful to deal with and they turned around a policy within a few hours.read more

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Manish Sharma
10/13/2021

I moved all my business and personal insurance to Foxquilt. Love these guys! Great service and quality. Plus you get incredible rates. Highly recommend.read more

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Coulter Wright
10/08/2021

Save up to 35% on smarter business insurance for Surety and Bonds

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What are Surety Bonds for Businesses?

Surety bonds do not function quite like traditional insurance, but are actually a 3-way contract. It is a three-party contract by which one party (the surety) guarantees the performance or obligations of a second party (the principal) to a third party (the obligee). There are numerous types of surety bonds available, but the most common types to insure are for construction projects, and for cleaning corporations that bond their staff when working on a third-party work site. Remember, surety bonds don’t work like traditional insurance. The surety company does not expect to have any claims if they underwrite the policy properly so they do expect to be repaid for any guarantee they’ll have to pay on a principal's behalf.



Who Needs Surety Bonds?

Surety bonds are usually recommended for contractors and businesses in the construction industry and in the cleaning industry. They may be contractually required based on the agreement between a business and its client, but may be beneficial for a project even if not required.

Examples of Surety Bonds Insurance Claims

Out of business

Bonds to protect against employee theft

Surety bonds is different from typical insurance

New construction company hired for the job

A construction company was contracted to complete a building job; unfortunately though, they went out of business before they could complete it. Thankfully, since there was a bond in place, the surety company helped hire a new construction company to finish the project.

Frequently Asked Questions

Why Should You Get Surety Bonds?

What Can Affect the Price of Surety Bonds Business Insurance?

When Should Businesses Purchase Surety Bonds?

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