A dishonesty fidelity bond provides a business protection from financial liability due to dishonest acts of employees, such as employee fraud, theft, forgery, embezzlement, and computer fraud.
Some states require an indictment or conviction before the bond will pay out. Limits for this coverage range from a minimum of $2,500 to a maximum of $100,000.
Important Facts About A Dishonesty Fidelity Bond:
- A standard surety bond DOES NOT protect your assets from liability due to a dishonest act caused by your employee.
- If you are an owner or officer of a company that has employees working at customer locations, odds are, your business or personal assets are at risk!
- Employee theft isn't a casual occurrence. It is an intentional act of theft or embezzlement and it's the cause of one out of every five business failures. According to the Department of Justice, nearly one-third of all employees are involved in some form of theft, and this is a number that should not be ignored.
What Does This Bond Cost?
The premium cost you pay for a Dishonesty Fidelity Bond is dependent on credit, the number of employees and the bond amount required. Bond amounts over $50,000 will require business and personal financial statements.
More Surety Bond Questions?
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, call us first. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
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