I would like to start a small pet setting / walking business. I don't own a home, which is better to protect me? Bonding or being insured?
Thank you
Sandy

They are two different things. I would think you need liability insurance to protect you from lawsuits. Bonding is more a protection that you will fulfill your end of a contract.

Insurance contracts and bonding contracts generally are two completely different "animals" - (no pun intended) and they are different in that insurance, liability insurance is intended to pay for those actions or inactions that cause loss to others or their property. For example, in the line of business you are considering, if you erroneosly and by accident let a person's pet loose and that pet was lost, you may be sued and successfully held legally liable for the loss of that pet. Another example (and there are many almost infinite examples) might be that you fail to give a pet needed medication or give the pet too much medication resulting in the death or illness of the pet resulting in death or vet expenses to the owner. All these items would normally be payable for you by your liability insurance company as well as legal defense costs to deferd you if you feel you are not legally liable. Surety bonds (and there are two basic types of bonds, fidelity and surety bonds) generally assure that if you do not honor the terms of a contract entered into by you with a client, then the bond is considered in default and the surety company must pay for your lack of compliance with the terms of the contract. Fidelity bonds or fidelity insurance as it is often called, is an insurance contract and if an employee were to embezzle assets, property, money belonging to the employer, then the employer is reimbured by the fidelity insurance. The guilty employee then may be pursued then by the insurance company if they so chose for loss the employee caused to the employer. I have written many bonds and many insurance policies and have never known of a pet sitting service to need a bond of any type. However there is a definite need for liability insurance and perhaps workers compensation insurance with workers comp being dependent on how many employees you may have and the laws of the state you plan to operate in.