Trusted Partner for Surety Bond Insurance Solutions in Texas
Our surety practice is led by agents with deep financial backgrounds and CPA designations. We speak the language of our clients, their CPAs, and surety companies, so we can maximize the bonding capacity for our clients.
Contact us to learn more about our bonding insurance company's offerings today.
Benefits of Getting Surety Bond Insurance in Texas
If you're debating getting bonded, take into account these five wonderful advantages.
Get customer confidence
If your company is bonded and insured, it will demonstrate that it can follow through and meet financial obligations. This will make people more likely to trust and respect your brand, which will lead to more respect from your target market.
Less competition from unqualified parties.
Before being bonded, applicants for surety bonds must go through a rigorous assessment process. This method looks at the company's financial stability and general industry credentials. Any applicant who isn't qualified or who has a shady past will have trouble being bonded.
More business opportunities
Being bonded creates more opportunities for commercial relationships. When going after public contracts, you will have more options if you can show that your company's finances are stable, consistent, and follow moral standards. Additionally, loaners will find you more appealing because they favor bonded organizations.
Businesses must obtain surety bonds in some sectors. Security bonds are required for debt collectors, contractors, auto dealers, and even private investigators. By posting a permission bond, you show that you can be trusted to do any work for the company in a good way.
Protect your business and secure your obligations with Surety Bond Insurance.
Contact Hotchkiss Insurance today to learn more about how Surety Bond Insurance can benefit you and your company.
Why Choose Hotchkiss Insurance as your Surety Bond Insurance Broker in Texas?
When you're looking for surety bond insurance in Texas, you need to know that your broker is reliable and trustworthy.
Only Doing What is Best for You
At Hotchkiss Insurance, we take our role as a surety bond broker seriously. We understand that you have a lot of options when it comes to finding the best surety bond brokers in Texas, but we want to help you make an informed decision about which one will be best for your company.
We have a long history of working with businesses just like yours.
We've been around for years, and we've worked with countless companies just like yours that needed help finding a reliable surety bond solution for their business.
We offer personalized service that takes into account all aspects of your business model and financial goals. We can help you find the right solution for your needs and budget, and we'll never sell you something that doesn't fit with what you're looking for.
What is a Surety Bond? - In its most basic form, a surety bond can be described as a written commitment to ensure compliance, payment, or completion of an act. Due to the fact that a three-party agreement is involved, surety is a special kind of insurance.
Who needs a Surety Bond? - Typically, contractors that want to work on expensive government projects must post surety guarantees.
What are the types of Surety Bonds? - There are 4 groups: contract bonds, judicial bonds, probate court bonds, and commercial bonds.
How is the cost of Surety Bond Insurance determined? - For the most part, the total bond amount determines the premium you will pay for any commercial bond.
How does one obtain a Surety Bond? - The principal pays a premium to the surety, often an insurance firm, in order to receive a surety bond. The surety bond demands that the principal execute an indemnification agreement pledging business and personal assets to compensate the surety in the event of a claim. The surety pays the claim with its own funds if these assets are insufficient or uncollectible.