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Just was asked for the first time whether I’m bonded. Wasn’t sure what to say, other than no, and that I didn’t think it was necessary for me to be bonded. I work alone (no employees) and have liability insurance, so I think I’m ok. Should I be bonded in addition to my liability insurance? Hasn’t been an issue in the 2 years I’ve been at this, except this one customer, and he actually booked the job in spite of my lack of bondedness.
Any insight would be much appreciated… thank you!
A bond is an insurance policy. Most of our operators would not need to bond themselves. The bond is in case an employee took something from the customer, was caught and convicted, but had alreay disposed of the item he took, at that point the bond would pay for the item he took.
From what I’ve been told a bond does not cover you for the cost of the item an employee steals, and you are still on the hook for it. It just ensures the customer they will get repaid. I could be wrong on this though.
http://wiki.answers.com/Q/What_does_bonding_insurance_do_for_you
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