Contract Bonds
Contract bonds help protect a project owner from financial loss if the bonded contractor fails to fulfill the terms and conditions of a contract agreement. Erie Insurance offers several contract surety bonds:
- Bid or Proposal Bond
- Maintenance Bond
- Payment Bond
- Performance Bond
- Supply Bond
The approval process requires the prequalification of the contractor. ERIE also offers a quick bond approval program for those contractors in need of a bond under $500,000.
License and Permit Bonds
A license or permit bond helps ensure that a business complies with appropriate license and permit regulations as required by state law, municipal ordinance or by some other regulation and in some instances by the federal government or its agencies. The available bonds are:
- Auctioneer Bond
- Electrician Bond
- Fuel Dealer Bond
- Gasoline Tax Bond
- Home Improvement Bond
- Liquor and/or Beer Bond
- Motor Vehicle Dealers Bond
- Plumbers Bond
- Real Estate Broker Bond
Public Official Bond
The public official bonds are required by states, counties, municipalities or another political subdivision other than the federal government. They are designed to guarantee the public that the newly elected or appointed official faithfully will perform the duties of that office. The bonds offered are:
- Clerk, City or Clerk-Treasurer Bond
- Clerk of Court Bond
- Constable Bond
- Notary Public Bond
- Sheriff or Deputy Sheriff Bond
- Tax Collector Bond
- Treasurer-State, County, City, School Bond
Court Bonds
ERIE offers both judicial and fiduciary bonds. Judicial bonds may be required by either the defendant or the plaintiff in connection with litigation. The bonds that are available through ERIE include:
- Attachment-Plaintiff Bond
- Costs-Plaintiff Bond
- Indemnity to Sheriff Bond
- Injunction-Plaintiff Bond
- Liquidator Bond
A fiduciary bond guarantees that a person appointed by the courts to handle affairs of another will be faithful in his/her duties. The available bonds are:
- Administrator Bond
- Guardian Bond
- Trustee Bond
Miscellaneous Bonds
The bonds that fall into the miscellaneous category generally have characteristics of guaranteeing the payment of monies. They include:
- Lost Instrument Bond - Stocks, Bonds, Checks and Certificates of Deposit
- Wage and Payment Bond
Why Work with Erie Insurance?
Erie Insurance holds some of the highest honors for financial stability and service year after year. For instance, A.M. Best, a global credit rating agency with a unique focus on the insurance industry, rates ERIE A for financial strength. Erie Insurance Company is also Treasury Listed by the U.S. Government. Protection from our reinsurers also enhances our financial strength.
To get personalized advice on what you may need to help protect your business, contact a local ERIE agent. As small business owners, our agents know how important it is to have the right protection. As small business owners, our agents know how important it is to have the right protection.