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Performance Bond Insurance
As a Contractor you may be asked to provide a guarantee for the satisfactory completion of a project, Performance Bonds, also know as a Surety Bond, offer protection in the form of a set payment in the event that a contract is not completed to the specifications required.
This is typically a percentage of the Contract and can range from 5% to 20% in value with most Developers and Contractors requiring cover for 10% of the contract value.
While a Performance Bond covers the Developer it is usually arranged by the contractor and can help you win a contract, as you are able to offer the developer protection in the event that the worst happens and you are unable to complete the contract, minimalizing any financial loss they may incur.
Our liability brokers are available to discuss your needs and provide tailored quotes to make sure you are can make an informed decision based on cover and premium.
Can you cover the rest of my Contractors and Developers Insurance?
As a Contractor or Developer you will need to make sure that your business and projects are protected for all eventualities, our team of brokers are available to discuss your needs and provide tailored quotes for all businesses. Where required we can look to include the following covers:
Be safe in the knowledge that your business is protected.
Get a quote by calling our team on 01732 252 898
or submit your details below