Insured And Bonded Meaning : Blog - Betters Insurance / If an employee is injured on customer property, the company's insurance.
Insured And Bonded Meaning : Blog - Betters Insurance / If an employee is injured on customer property, the company's insurance.. Besides sounding badass, many customers, and even small business owners are often unsure as to what this term means. If an individual or business is bonded and insured, it means it has taken measures to ensure the client has recourse if the job isn't completed or doesn't companies that are bonded and insured protect their customers two ways. Being bonded means the contractor has taken action to purchase a surety bond, providing a level of liability protection for the client should the contractor fail to complete the contracted work properly. Bonded and insured are synonymous, and they have mutual synonyms. Being bonded means that a bonding company has secured money that is available to the consumer in the event they file a claim against the company.
Learn how being bonded and insured are different and how both can help your business. In this article, we'll get bonded defined so that you understand the difference for your newly bonded. Let's break down being bonded vs. If an employee is injured on customer property, the company's insurance. Making sure you hire an appropriately licensed, insured and bonded contractor may seem like an extra work, but it all adds up to helping ensure that you and your interests are protected.
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