Fidelity Bond Insurance Coverage
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A fidelity bond covers your business for fraudulent or dishonest acts committed by your employees during the normal course of daily operation. Also known as an employee dishonesty bond, getting this type of coverage is a smart move if you have employees that are in the position to cause financial harm to your company, or your clients. Fidelity bonds protect your company when the unthinkable happens - you have a dishonest employee.
While many insurance providers offer fidelity bond insurance coverage, it can be a time consuming process to find the best policy for your situation. Use NetQuote to quickly get FREE, no-obligation quotes from the leading indemnity carriers. With NetQuote, you can quickly compare rates and coverages to see which provider has the policy that is best for your needs.
Fidelity Bond Insurance - Who Needs It?
Fidelity bond insurance (Wikipedia definition), or an employee dishonesty bond, is coverage that many companies should consider. If you have employees that are in a position to cause financial damage to you, or your customers, you need this protection. This includes employees that work at customer locations, as well as those that are in a position dealing with company financials. Don't assume that your staff will never be tempted - if you have employees in a position to steal, then get the appropriate commercial policy!
For example, if you operate a home cleaning service, and have employees in other people's homes, a janitorial bond will cover your company in case one of your staff steals from your customers. This is especially critical if they are working unsupervised, or alone, giving them the perfect opportunity to do something they might not consider if they weren't alone.
If you have employees that are in a position to steal directly from your company, fidelity bond insurance has you covered. While we would like to think that everyone that works for us has the best of intentions, you need to be prepared for the possibility that they are out to cause your company harm. People will do unexpected things if they have an opportunity to do so, and there is some need in their life that compels them to do so.
While business owners don't usually consider the possibility that those that work for them may be dishonest, it is a very distinct possibility, with companies experiencing billions of dollars of losses each year due to employee fraud. Make sure your company has the coverage you need to protect against employee dishonesty. Even if you trust your employees implicitly, a wise company plans for the unexpected and purchases insurance policies for every possibility.
Companies are frequently in the news where they had a trusted employee stealing from them. It is always the ones you least suspect, which makes dishonesty bond coverage important, even if you are certain that you have the best people working for you. Don't be put in a situation where you are regretting not having the right insurance for your organization. Talk to a commercial insurance provider today to make sure that your company has the right type, and amount, of coverage to protect it from the liabilities it faces on a daily basis.
Fidelity Bonds Coverage - Get FREE Quotes
Shopping for fidelity bonds is the same as with any other commercial insurance policy. You really need to get multiple quotes from leading carriers to see who has the coverage you need at the rates you want to pay. Using NetQuote's secure online form to request quotes is the quickest and most efficient way to comparison shop policies. One simple online form gets you quotes from multiple top insurance carriers very quickly, saving you a lot of time and energy.
In a perfect world, employees will always be faithful and never steal from their employers, or their clients, but unfortunately, we don't live in a perfect world. Smart companies prepare for the unexpected and carry the appropriate commercial coverage to fit their circumstances. Don't regret not carrying the right coverage - get your free quotes for the protection your company needs.
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