The worst outcome has happened, you have had a claim filed against your business. What to do now? As this can be a stressful time, having someone in your corner can help lift a huge weight off your shoulders. This is where a surety bond producer as your advocate can be of enormous help.
A basic claim procedure begins when someone associated with the job files a claim against you. They will look over the evidence. If the claim has no backing to it, a surety bond producers acts as an advocate. The best way to help your surety bond producer is to make sure to document everything. This includes that you pay for labor or materials on time to when you complete certain aspects of the project. If you have done your end of the job, then the surety bond producer will help to prove that the claim is false.
There are many attributes to look for when working with a surety bond producer, and below we have highlighted some things to consider. Therefore, if someone does file a claim against your company, you can be certain that your surety bond producer will protect you and that you have a knowledgeable advocate on your side:
Don’t just be a number:
Are you among a multitude of files in a filing cabinet? This can sometimes be the danger with hiring a big bonding company. With a smaller surety bond business, you are a face rather than just a number.
Work with the best of the best:
Is your surety bond producer knowledgeable? A good surety bond producer has a good relationship with the underwriters that they work with. In addition, they should possess a deep knowledge of the surety bond industry. During the application process, they will make sure that you are protected as well. This is done by including things in the surety bond that will protect you against false claim.
Are they proactive?
When going through the application process, did your surety bond producer give you advice on how to avoid claims? This is tantamount in not having to pay a false claim. Obviously, if the claim is legit and you are in the wrong, then even the best of the best surety bond producers cannot make the claim go away. But if you did do everything that the surety bond producer told you (keeping sufficient records, understanding and fulfilling your contractual obligations, etc), then a good surety bond producer will go to bat for you.
Having a good relationship with your surety bond producer can help to ward off false claims. Knowing if your surety bond producer has a good reputation, can save you many headaches.
At Surety Bond Professionals, one of the things we pride ourselves on is our loyalty to our customers. We are also proud of our hard work ethic and making sure that our clients are fully protected. We would be glad to offer you the same quality of service that have kept our customers coming back. Contact us today for any questions you may have, and let’s get started on assessing your surety bond needs.