Business Insurance

Insurance Bonds

Help navigating surety, contract, lost title, and license & permit bonds — we identify what you need, provide the bond, and deliver it to the requesting party.

What exactly is a Bond?

A bond in layman’s terms is a way to secure a debt.

It is a way of you the consumer, being able to put up a little cost up front that says “I am letting you borrow this money so as to your agreement to pay the face value of the said bond if ever needed”. In the real world, bonds can be issued by a government, municipality, corporation, federal agency, and other entities.

In the insurance world a lot of times you will see bonds requested in the following ways:

Surety Bond

A surety bond is a contract between three parties. The person who is the recipient of an obligation, the primary party who will perform the contractual obligation and the person who assures the obligation will be done.

Lost title Bond

These bonds are a type of surety bond. They provide a proof and guarantee of ownership to the Department of Motor Vehicles. When no other form of documentation is available a Lost Title Bond shows the DMV that you are the “owner” of said vehicle.

Contract Surety Bond

Contractor bonds are one of the most “popular” bonds you will see asked for in the insurance space. Contract bonds are used in the construction industry by general contractors. They are a guarantee to a project’s owner that the general contractor will adhere to the contract put in place.

License and Permit Bonds

These types of bonds function as a guarantee to a government entity that a company will comply with a statute, state law, ordinance, etc.

Some examples are but not limited to:

  • Contractors License Bonds
  • Tax Bond
  • Environmental Bonds
  • Broker’s Bonds
  • Motor Vehicle Dealer Bonds
  • ERISA Bonds

Our job as an independent agent is to help you navigate a cumbersome system in finding the best fit for your bond requirements.

We can help you find your bond needs, provide you with your bond, and help you get it to the party requesting.

Call our office today or complete the form below to get started!

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Frequently asked questions

What is a bond?
A bond is a mechanism to secure a debt or obligation. It lets you pay a modest upfront cost that demonstrates a willingness to ensure an obligation is met. Bonds can be issued by governments, municipalities, corporations, and federal agencies, and appear often in insurance.
What types of bonds do you handle?
Common types include surety bonds, lost title bonds (proving vehicle ownership to the DMV), contract surety bonds (guaranteeing a contractor honors a contract), and license & permit bonds such as contractor license, tax, environmental, broker's, motor vehicle dealer, and ERISA bonds.
How does GSP help with bonds?
As an independent agent, we help you navigate a complex system to find the right bond solution — identifying your requirements, providing the bond, and delivering it to the party requesting it.

Related coverage

Contractors Insurance

Liability and coverage built around your trade — general liability, completed operations, and the extras that protect you from job-site and contract risk.

Business Insurance

A tailored commercial package built around your property, liability, and casualty needs — whether you're a retailer, contractor, or professional office.

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Tell us a little about what you need and one of our agents will reach out. We'll shop your coverage and come back with real options.

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