Surety Bonds in Peoria, Phoenix and Across Arizona
Surety bonds are often required by a contract, licensing authority, court, municipality or project owner. Faithful Insurance LLC helps Arizona individuals and businesses compare bond options and understand what information is needed to request a quote.
As an independent agency in Peoria serving Phoenix, Glendale, Surprise and clients across Arizona, we can help with several common bond needs.
Common Types of Bonds
Bond availability depends on the bond type, required amount, underwriting details and surety company. Common bond requests may include:
- License and permit bonds for certain businesses or professional requirements
- Contract surety bonds for construction or service contracts
- Lost title bonds for certain vehicle title situations
- Fidelity bonds or employee dishonesty bonds for business-related theft exposures
- Other commercial surety bonds required by a contract or public entity
How Surety Bonds Work
A surety bond is not the same as a standard insurance policy. It is typically a three-party agreement between the principal who needs the bond, the obligee requiring the bond and the surety company backing the bond. If a valid claim is paid, the surety may seek reimbursement from the principal, depending on the bond terms.
Information Needed for a Bond Quote
To request a bond quote, carriers may need the bond form, required bond amount, obligee information, business details, ownership information, financial history, credit information and contract documents. Requirements vary by bond type and amount.
If your bond is connected to a business or construction project, we can also review related coverage such as contractors insurance, general liability insurance or builders risk insurance.
Compare Surety Bond Options
Tell us what type of bond you need, who is requiring it and the required bond amount. Faithful Insurance LLC will help you compare available surety bond options in Arizona.