surety companies/ Bons mechnical lien

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    2y
    Quote from @Tal P.:

    Hi, I need a surety company to bond a six-figure mechanical lien.
    Thanks


     call an insurance company, like the Hartford or others. They can review it and get you a quote.

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  • John Mocker
    Insurance Agent · Norwalk, CT · Member since 2016 · 2k+ posts · 1k+ votes
    2y

    Tal,

    Not all companies and Agents can handle Bonding.  It is a very different underwriting than a Property or Liability policy.  The Surety company is agreeing to Guarantee the Bond amount if you do not perform and the bond is called.  The underwriting becomes more of a financial review of your assets.  The Bonding company is looking to see if they would be able to recoup what they pay out.  If you want to PM me the info on the bond and I can see which companies our bonding dept. would suggest.  

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