Bonds

While bonds are typically considered secure, unforeseen events may cause payment defaults, leading to inconveniences for bondholders. Bond insurance comes in handy when this happens, allowing investors within Colorado to protect their assets. Below, Westco Insurance LLC tackles what Colorado residents can expect with such coverage.

Pros of Getting Bonds Insurance

Safety

Whether you are a business or an individual getting bond coverage, you can rest assured that you will receive your payments regardless of complications arising along the way. Companies that get bonded can, for instance, proceed with their operations and take advantage of calculated risks due to the safety that the insurance provides. This will be essential in helping you leverage growth and one-off opportunities that numerous companies often forego.

Better Credit Rating

Since coverage protects bondholders from defaults, it ensures repayment of the principal and interest. This often comes with a high credit rating, making it a lucrative business opportunity. Investors will likely be attracted to such terms, allowing for better investment deals.

Improved Confidence

If your business is insured, customers will likely be loyal to you, which boosts confidence that you care about fulfilling your duties. Due to this, word of mouth is likely to attract more customers with minimal advertising efforts, making it worthwhile for your sales. Your business partners also feel secure that they can rely on you for contractual agreements, improving the likelihood of better business deals.

Types of Insured Bonds

Examples of bonds that can benefit from insurance are:

• Supply bonds
• Bid bonds
• License and permit bonds
• Contract performance bonds
• Maintenance bonds

Whether you are a new business looking for first-time coverage or need to update your insurance, Westco Insurance LLC is here to guide you along your bonds insurance journey. This type of insurance is crucial for all business owners, whether a start-up or an established business. Call our Colorado Springs, CO agents today for a chance to get started on your coverage.

Get Bonded