Bonding

[Arbomeister]

I carry liability insurance and also workers comp (don’t have to as
2 person company but feels the ‘right’ thing to do). Lately, I have had some clients asking if I am also bonded. I am interested to see if any of you wonderful people out there are bonded?



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[ATH]

I've ask about bonding, here is what my insurance agent told me (and this is what I explain to clients when they ask):

Bonding does 2 things:
1) If, for example, you hire a company to clean your house and their employee steals something that bonding will compensate the client for that loss.
2) If there is a performance guarantee a bond would cover that. For example, the State hires somebody to build a bridge and they don't finish on time or they bail out on the project, the bond will pay the State so they can hire somebody else to get the job done.

Nobody has had a problem with our not having bonding when I explain that.

I explain that we have liability that covers them if I cause damage. Workers Comp that protects employees. A vendor's license from the State. Pesticide applicator licensing. And voluntary credentials including Certified Arborist. There are not other licenses or bondings that apply to the industry. I carry copies of proof of insurance and Worker's Comp. Almost nobody asks for those - they all should.