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Insurance vs. Bond?

Discussion in 'Landscape Maintenance' started by MingoValley, Mar 30, 2009.

  1. MingoValley

    MingoValley LawnSite Member
    Posts: 6

    I have insurance on my small business, but am wondering why or if I need a bond? How is a bond on a landscaping business different than liability insurance?

    Do I need a bond?
    If so, what type should I get and for how much?
  2. green tree lawn care

    green tree lawn care LawnSite Member
    Posts: 55

    From what I understand on this subject is bonding is more for if you are going to be doing work inside a residence or business when know one else is present. I could be wrong. I am bonded for my kitchen exhaust cleaning company but am not for lawn care. When you get bonded they do a background check and credit check.
  3. AI Inc

    AI Inc LawnSite Fanatic
    Posts: 25,385

    Typicaly in this industry and construction, a bond is pulled on a per job basis. What it is is an ins policy that provides money to complete the job if you were to walk before the job was complete. Usualy required on all public financed jobs and sometimes private.
  4. FLCthes4:11-12

    FLCthes4:11-12 LawnSite Senior Member
    Posts: 284

    Sorry to steal someones thread, but how do you go about getting a performance bond. It seems kind of indimidating to me thus i have turned down several bids for small local goverment work. Should my current ins. company who has all my business ins. be able to do this?
  5. green tree lawn care

    green tree lawn care LawnSite Member
    Posts: 55

    I know my insurance agent can take care of bonds, I assume they all can. I would just call your agent.

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