What type of bond is a janitorial bond?
surety bond
A janitorial bond is a type of surety bond that reimburses your clients for employee theft. Unlike insurance, your bond carrier (surety) will expect reimbursement when it pays for a claim. Your clients might request that your residential cleaning or janitorial company secure this coverage.
Who owns Western surety?
CNA Surety Corporation
CNA FinancialContinental Casualty Company, Inc.
Western Surety Company/Parent organizations
What is a surety bond?
A surety bond is a promise to be liable for the debt, default, or failure of another. It is a three-party contract by which one party (the surety) guarantees the performance or obligations of a second party (the principal) to a third party (the obligee).
What is a CNA bond?
CNA Surety provides commercial and contract surety bonds in all 50 states through a combined network of over 40,000 appointed agencies. CNA Surety Companies also write fidelity bonds, which cover losses arising from employee dishonesty and errors & omissions liability insurance.
What type of bond does a cleaning company need?
Janitorial service surety bonds are a type of business service bond intended for a residential or commercial cleaning company. With this bond in place, you protect customers from losses incurred as a result of employee theft committed by employees while engaged in cleaning services.
What does it mean for a cleaning company to be bonded?
To be bonded and insured means that your cleaning business has purchased a surety bond, most likely a janitorial bond, along with business insurance coverage. Together, bonds and insurance protect your business, your employees, and your clients from common risks.
Is Western Surety part of CNA?
It was also the national leader in the area of small, miscellaneous fidelity and surety bonds. The company’s unique approach focused on service and convenience….Western Surety Company.
| Industry | Fidelity and Surety Bonds |
|---|---|
| Parent | CNA Financial |
| Website | www.cnasurety.com |
How much does a surety bond cost?
On average, the cost for a surety bond falls somewhere between 1% and 15% of the bond amount. That means you may be charged between $100 and $1,500 to buy a $10,000 bond policy. Most premium amounts are based on your application and credit health, but there are some bond policies that are written freely.
Can a Western Surety Company write a bond?
Western Surety Company possesses the required financial strength and government licensing to provide surety guarantees to private owners and government bodies. Since Western Surety backs up their guarantees with their own assets, we do not write bonds indiscriminately.
What do you need to know about janitorial bonds?
Janitorial bonding for your business Janitorial service surety bonds are a type of business service bond intended for a residential or commercial cleaning company. With this bond in place, you protect customers from losses incurred as a result of employee theft committed by employees while engaged in cleaning services.
How to get a surety bond for a cleaning business?
SuretyBonds.com makes getting a surety bond easy! We just need to know the name of your cleaning business, the state where your employees work, the number of employees the bond will cover and the amount of coverage you want. Your bond will be processed as soon as payment is received, and you’ll receive a copy of your bond via email.
Where are the Western National Surety offices located?
Western National is a full-service contract and commercial surety market with two regional surety offices. The Central Region, based in Edina, Minnesota, services states in the Central, Midwestern, and Eastern U.S., and the Western Region, based in Phoenix, Arizona, services the Western U.S.