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Im currently looking at general business insurace coverage, but one thing that I have never fully had a good grasp on was being bonded. I would like to know how important this is and if you guys recommend being bonded along with being insured?

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Here's a good definition that I found:

 

Bonded

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. The secured money is in the control of the state, a bond, and not under the control of the company. Let’s say that you hire a cleaning company and they end up stealing your Nintendo Wii. Well, you would file a claim against the company and, after an investigation, would be paid out by this bond.

This is slightly different but similar to what it means for an employee to be bonded. Being bonded in that case means that a bonding company has investigated your background and finds that you’re trustworthy and “good†enough to insure. In general, this is generally done when an employee has to handle large amounts of money or handle valuable property like jewelry or art. There is a very extensive and deep background check involved and what the employer gets is insurance that you won’t steal. If you do, then the bonding company pays out the amount of the theft. By being bonded, it shows that the employee is trustworthy enough for a bonding company to insure you up to a certain amount. Now, a company that is bonded means that a bonding company has funds

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Unless you enter the home...which I refuse to do, you really don't need bonded. The outside of the home is exposed to anyone. If I ever ran into a homeowner that wanted his landscaper, pressure washer, etc to be bonded....I'd politely decline the work. Anyone that anal retentive is a high risk for other problems like bad review blackmail.

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