Business Bond Insurance
Get The Right Surety and Bond Insurance Policy For Your Business
If you own or manage a business that requires bonded contracts, having the right Business Bond Insurance is essential. Whether you’re a contractor, a service provider, or a business working with government contracts, bond insurance offers financial security, legal compliance, and peace of mind.
In this guide, we’ll explore the importance of business bond insurance, the key types of cover available, and how to select the right policy for your business needs.
What You Get
Liability
Fleet
Plant
Professional Indemnity
Legal
And more…
What is Business Bond Insurance?
Business Bond Insurance provides protection to businesses by guaranteeing the fulfilment of contractual obligations. It acts as a safety net for your clients, ensuring that agreed-upon services or deliverables are completed, or compensation is provided if they aren’t.
Common types of bonds include:
Performance Bonds: Protect the client if a project isn’t completed as agreed.
Payment Bonds: Ensure subcontractors and suppliers are paid.
License and Permit Bonds: Required for businesses to meet legal and industry regulations.
Our bond insurance policies are tailored to the unique needs of businesses across various industries. Get a quote in under 30 seconds with our easy-to-use online system, or contact our UK-based team of insurance experts six days a week.
Do You Need Business Bond Insurance?
Bond insurance is often a legal requirement for businesses involved in contracts, especially in industries like construction, logistics, and public services. Beyond compliance, it provides:
Key Benefits Of Bond Insurance For Businesses
1. Financial Protection: Covers losses if you’re unable to meet contractual obligations.
2. Client Trust: Shows clients your business is reliable and financially stable.
3.Legal Compliance: Many government and private contracts require bonds.
Whether you’re bidding for a government project or entering into a large-scale contract, bond insurance ensures you’re equipped to operate confidently and compliantly.
What Are The Types of Business Bond Insurance
1. Performance Bonds
Guarantees the completion of a project as per the contract terms. Ideal for contractors and businesses in construction or manufacturing.
Key Features:
- Coverage for project delays or incomplete work.
- Peace of mind for both contractors and clients.
- Typically required in government contracts.
2. Payment Bonds
Protects subcontractors and suppliers, ensuring they receive payment even if the contractor defaults.
Key Features:
- Essential for businesses managing multiple subcontractors.
- Minimises disputes and financial risk in large projects.
3. License and Permit Bonds
Required for businesses to operate legally in certain industries. These bonds ensure compliance with regulations and standards.
Key Features:
- Common in construction, financial services, and healthcare industries.
- Provides assurance to regulatory authorities.
4. Fidelity Bonds
Protects your business against losses caused by employee dishonesty, such as theft or fraud.
Key Features:
- Coverage for forgery, fraud, or embezzlement.
- Ideal for businesses managing sensitive client data or finances.
5. Contract Bonds
Comprehensive coverage that includes performance and payment bonds, ensuring all aspects of a contract are fulfilled.
Key Features:
- Covers multiple risks under one bond.
- Perfect for high-value or complex projects.
How Much Does Business Bond Insurance Cost?
The cost of business bond insurance depends on several factors, including:
- Type of Business: High-risk industries, like construction, may have higher premiums.
- Bond Amount: The total value of the bond required by your client or contract.
- Credit History: A strong credit score may result in lower premiums.
- Claims History: Businesses with prior claims might pay higher rates.
- Business Size: Larger businesses or those with more contracts may face higher costs.
Why Choose Us for Your Business Bond Insurance?
At ABA Insurance, we specialise in tailored solutions for businesses across the UK.
Key Benefits of Our Services:
- Instant quotes online with no hidden fees.
- Flexible monthly payment options with no interest charges.
- Expert support from our UK-based team.
- Free mid-term policy adjustments.
- No admin fees on policy changes.
What Makes Us Different
We are specialists in the Construction Industry. We have the expertise and knowledge to get your business the most comprehensive and competitive insurance solution. We add value to your business by working closely with you, helping protect your business from financial loss, all while delivering a seamless easy experience.
Client Testimonials
I cannot recommend this company highly enough. I have been a customer since April 2018 and the service I have received is outstanding. The staff are friendly and extremely helpful. Nothing is too much trouble. I would just like to say an extra thank you to Isabella for her customer service and commitment
Chris Baker
CEO/ Founder
Your Questions Answered
How do I know what level of cover I require?
Speak to one of our expects today who can guide you through understanding the levels of cover limits you may require. Call 01474 833 322.
What does Public Liability actually cover?
In short, this covers any damage you cause to any Third Party Property &/or Persons.
What does Professional Indemnity actually cover?
In short, this covers any claim that can come from any losses you may have caused your client or third party caused by the negligence of your professional services & advice you offer.
What is the difference between (BFSC) and (LOSC)?
A Bonafide Subcontractors is a supply and fit contractor that provides their own tools and materials. A Labour Only Subcontractor is pretty much an employee who you pay on a day rate and is under your supervision, direction & control.
What does Contractors All Risk actually cover?
Also referred to as Contract Works, this covers any damage/losses to your works in progress (on going works).
How can I get a quote from you?
Simple call us on 01474 833 322 and one of the team will assist you through a quick and easy experience.
Who do I contact if I have questions?
If you already have a policy with us, you can contact your account manager or alternatively call us on 01474 833 322 and a member of the team will be happy to help.
Why should I choose ABA Insurance?
We are a specialist brokerage within the Construction and engineering industry which means you only deal with a broker that understands your business. We advise on the best insurance solutions to help you in every way possible from advice, claims handling to any questions throughout your policy.
Who will deal with me at renewal?
The same person you delt with at the start. Our team want to make sure they know you and your business inside out. They are dedicated to you from new business all the way through to your renewal.
One Point Of Contact, Countless Ways To Help.
Get Your Business Bond Insurance Quote Today
Protect your business effortlessly with our business bond insurance policy. Get an instant quote online, choose the coverage that suits you, and secure your protection in minutes—it’s that simple!