What is an Insurance Bond?An insurance bond ensures contract completion in the event of contractor default and are typically required by project owners when seeking a contractor to fulfill a contract.
The contractor obtains a bond so the insurance company is obligated to compensate the project owner for the financial loss incurred if the work is not completed. Typical Insurance Bond TypesAlthough there are many types of insurance bonds, the four most common types needed by business owners are:
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FEW-0617AO (8/2018) | FINRA Broker Check
FEW-0617AO (8/2018) | FINRA Broker Check
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Products are underwritten by the issuing life insurance company.
Insurance products are subject to underwriting guidelines, review and approval.
Products and discounts not available to all persons in all states.
Securities offered through Nationwide Securities, LLC., member FINRA, SIPC.
DBA Nationwide Advisory Services, LLC. in AR, CA, FL, IL, NY, TX, and WY.
Representative of Nationwide Life Insurance Company, affiliated companies and other companies.
Insurance products are subject to underwriting guidelines, review and approval.
Products and discounts not available to all persons in all states.
Securities offered through Nationwide Securities, LLC., member FINRA, SIPC.
DBA Nationwide Advisory Services, LLC. in AR, CA, FL, IL, NY, TX, and WY.
Representative of Nationwide Life Insurance Company, affiliated companies and other companies.