Bonding a business protects its customers from a number of different things. Consumers today look for protection like bonds because they want to ensure that when they hire someone, the job will be done right and there will be no problems. If you own a cleaning business, it is advantageous for you to bond it.
Call local insurance companies and ask for bond quotes. Typically, insurance companies will need to know how large your business is and what kind of business it is in order to give you a quote. Make a list of the local companies and their lowest quotes. This will allow you to compare the quotes in order to find the cheapest bond options available.
Check on surety bonds. Surety bonds provide your customers protection in case you or your employees don’t perform the job to the standards you promised when the customer hired you. This gives customers a sense of security when hiring your business, because they know they will get what they paid for, or they will receive their money back. Having surety bonds are important for any business and will help it grow its customer base and have more returning customers. To learn more about surety bonds, visit the Small Business Administration (see Resources).
Check on fidelity bonds. Fidelity bonds provide another type of security for your customer by ensuring that if something is stolen by one of your employees, the customer will receive compensation. While most businesses don’t go into business with the thought of stealing from customers, it does happen from time to time. Because of this, customers feel safer knowing they are protected if something like this should happen. To learn more about fidelity bonds, visit State Farm (see Resources).
Choose the insurance company you will go with from the notes you’ve made about the local insurance companies. Once you’ve chosen one, you may need to provide information about your business, employees and different kinds of jobs to that insurance company in order to receive the bond. Be sure you receive the certificate of bonding, because this is what you will show customers who want to ensure that you really have the bond protection–some companies only claim to be bonded. You can typically have an option to purchase bonding for each individual job or continued bonding for a recurring price. This is up to you; however, the recurring bonding is the best option as it will protect you for all jobs and not just the one. By using the steps above, you can bond your cleaning company and ensure your customers are protected.