Surety Bond Insurance

Surety bond insurance helps in a variety of ways.

surety bond insuranceFirst, a surety bond protects the interest of all parties and is recognized in courts as a secure measure to meet requirements. For instance, an individual who wishes to appeal the court’s decision and not pay a money judgment until then must provide the court with insurance that the judgment will be paid.

Second, surety bond insurance can work as literal insurance to help prevent any negative legal backlash. An example of this can be vehicle insurance.

Talking To A Surety Bond Agent

What type of surety bond insurance are you looking for? Are you even sure of what you need or could speaking with a professional surety bond agent be helpful?

Discussing surety bond matters with an agent can help clear up any misconceptions about the bonding process and how it works. It will also help you have a better understanding of surety bond insurance and why it’s needed.

To secure the right type of surety insurance, it becomes vital to communicate effectively with a bond agent. They need to know what is going on, if the insurance has been court mandated, and, importantly, which state requires the bond.

How States Use Bonds

Every state is different when it comes to surety bond. Sure, some things are a constant from state-to-state but it is important to understand what your particular state requires. Since Jurisco works in all 50 states meeting your state mandates is simpler.

A state or court requires surety bond insurance to help protect individuals against wrongful actions. Businesses and companies are required to secure bonds as a matter of recourse should they be accused of any mishandling.

Surety Bond Insurance For Vehicle Title

A situation in Tennessee might help clear this up. A man purchased a car from a dealer but never received the title for the car. Without the title the individual has problems securing tags, insurance, and meeting other state requirements.

The man filed a complaint with the Motor Vehicle Commission. The Commission is now reviewing the case. In the meanwhile, the man is contacting the auto dealer’s surety bond company to obtain a title.

Because a surety bond was in place the individual has a recourse of action. This is why states want to make sure businesses are properly bonded.

Surety bond insurance can be very helpful in situations of missing car titles, needing to take legal action, and when businesses need to cover all their bases.

Trust the Surety Bond Experts

The Jurisco lawyer-trained staff are here to help you today.