Choosing Excellent Insurance Coverage

What Is A Janitorial Service Bond?

If you have a janitorial company, you want to ensure you do everything possible to attract customers. The more customers you have, the more successful your business will be. One thing that you can do is to have a janitorial service bond. Having that bond can make your business more attractive to potential customers than an equivalent company without the bond would be. But what exactly is a janitorial service bond?

Janitorial Service Bond 

A janitorial service bond is a kind of surety bond. A surety bond is a kind of contract that is between your company, the issuing insurance company, and your clients. It is also an insurance policy, not for you, but for your customers. It isn't the only kind of insurance you will need to carry for your business, but it will guarantee that you get more business. The insurance company that issues your bond may also be able to help you with other business insurance policies. 

Theft Protection

Your employees will be cleaning all kinds of businesses and residences. They will be exposed to all sorts of things, may find money, and may feel tempted to take something from the site. That's not to say that any of your employees would be dishonest or commit theft, but it is better to have the bond in place in case something does happen than it is not to have it.

If something does get taken from your customer, and they come to you about it, your bond gives you a layer of protection. Your customer can place a claim with the insurance company that issued your bond. The insurance company will pay the claim, which means it's not coming out of your pocket. Paying the claim out of your pocket may be an expense your business couldn't afford, so the bond can help your business keep going. 

Certain Requirements

Depending on where you live and which company issues your bond, there may be some requirements that must be met for a claim. For example, the bond may only cover actual employees of your business, not any contractors you may use. The person who allegedly stole from the customer may have to go through an arrest and trial and be found guilty before the insurance company will pay out. 

If you want a thriving janitorial service, you should find an insurance company that can issue your company a service bond. It will protect your company, and more people will want to work with you.