What Does It Mean When A Cleaning Company Is Bonded And Insured?
A cleaning business that is bonded and insured means that it has purchased a surety bond, most likely a janitorial bond, as well as business insurance. Bonds and insurance protect your business, employees, and clients from the same risks that come with other types of insurance.
How Much Does It Cost To Get Bonded And Insured?
Bond and insurance costs Some, such as fidelity bonds, are paid as a percentage of the coverage amount, usually around 0 percent. The amount is divided by 5 to 1%. Contracts bonds are also subject to this. As an example, if you are looking for a $50,000 bond, you can expect to pay around $500 as a starting price.
Should A Cleaning Service Be Bonded?
In addition to contracts with landlords and lenders, cleaning business insurance and janitorial bonds are typically required. It shows that your company is reputable to be bonded and insured, which can help attract clients.
What Does It Mean For A Cleaning Company To Be Bonded?
Bonded is a word that means something. If a cleaning company fails to deliver on its contract, does not complete the work it promised, or steals something from your home, you can be bonded. It is possible to file a claim against the cleaning company if one of these terrible things happens.
What Is The Difference Between Being Bonded And Insured?
In the event of an accident, you are protected and you are able to operate legally. By issuing bonds, you create trust that you will complete the project and be able to work on public projects.
Watch how to get licensed bonded and insured for cleaning business Video