How to get bonded for my new business

Contact varoius insurance companies that do bonds and price it out.

Also look at business libility insurance which is basically all the bonding is anyway.

If you are wanting to be "bonded" for perils that your clients may face as a result of them hiring you or your employees, then I see two basic risks they are taking - one is the risk you or one of your employees may damage, destroy or otherwise accidentally cause to their property resulting in financial loss to them. Second would be dishonest acts by you or your employees that result in financial loss to your clients. Please understand that liability insurance would cover the first perils mentioned, that is accidental damage to or destruction of their property caused by you or your employees but would NOT cover dishonest acts -think of it this way....... If liability insurance covered your employees' dishonest acts, then you more or less would be rewarded by having the insurance company cover the loss resulting from your dishonest act and it's not going to do that ! One cannot purchase liability insurance to cover dishonest acts. YOU can purchase dishonesty insurance for YOUR loss caused by dishonest acts of your employees but this would cover YOUR property, money, not your client's property or money. Some insurance companies offer a special type of "third party dishonesty" insurance designed for businesses with your type of exposures that cover dishonest acts that cause your clients a financial loss. Most insurance companies will place a "conviction" rider or exclusion in the policy (some might call it a bond) that dictates what sufficient "proof of loss" is - and it's usually conviction in a court of law. In other words, before they pay your client's loss, your client must first prove in a court of law that your employee is quilty of the dishonest act. You definitely need to consider liability insurance for sudden, accidental type events that you may be held legally liable for. I agree that you are correct in pursuing coverage for dishonest acts that you or your employees may be accused or convicted of that result in loss to your clients, however. I know of no market that would cover your client's loss if YOU, the owner, would be found guilty of absconding with your client's property or money. I only am aware of the special "third party fidelty" coverage that I am sure is available to your business for dishonest acts of your employees that cause loss to you client.

I can't answer the question but I do have one. I live in Maryland and will soon have a complete service business ranging from cleaning to Professional Organizing. Maryland does not require a Business License for this type of business but I would like to show clients something that eases doubt when hiring my company. I thought Insurance and Bonding. Is there a difference or are they one in the same? I thought that bonding was finger prints and background checks. Can someone educate me on this one and give ideas to what to do.

Sorry, I am not familiar with Florida laws or procedures.

What I CAN tell you is that where I am in order to be bonded and insured you must have first the RCMP perform a national serach in their database to confirm that you have no criminal record. There are agencies that provide this service, but they always just go to the RCMP with the forms and get it done. So, you can do that yourself.

What I would suggest you do, therefore is contact someone at your local police and ask them what the process is to become bonded and insured. I'm sure they must have a hand in it somewhere- it makes sense that they are the ones with the records to provide criminal background checks. See if you can get whatever paperwork is necessary to do it yourself and save yourself some $$ by avoiding a 3rd party service.

Best wishes with your new business!

Jani Teeter

You can usually go to any insurance company and get a bond for yourself as well as any employess you may have. Different states require different amounts just check and see.