Hour to Approval on Some Bonds*
So leave the bonds to the team at Berry. This is how the Berry Insurance team makes sure you can focus on your business while we focus on your insurance:
* metric refers to a simple public official bond.
Berry Insurance was in place upon my arrival 12 years ago and I would say the reason we continue our business is due to extremely dedicated service representatives (from the President to the support staff). Integrity and honesty is another factor that drives our decision to stay with Berry. Finally, knowledge of the various business lines is an equally important reason to maintain Berry as our representative. - Kurtis J.
As a Massachusetts business owner you may need to obtain a bond to conduct business. Bonds are also known as financial guarantee insurance. The insurance company promises to pay an amount of money if there is an event that causes a financial loss. Bonds are used to protect against financial loss from non-performance of obligations.
Massachusetts bond premiums are based on a perceived risk of failure by the insured. For example, if you have a great track record of paying on time, your bond cost will be less than someone who pays state sales taxes habitually late. Since a bond is a financial guarantee, applying for a bond often requires an in-depth review of your financial situation. Part of this review will include your experience and history so the bonding company can fairly assess the risk. Should you need a bond, just remember the bond is in place for the benefit of others, not your business.
Surety bond: To guarantee payment for state sales taxes or utility bills
License or Permit Bond: As a contractor this guarantees your work will meet licensing requirements with municipalities
Notary Publics are required to post bonds in most states
Realtors may also need to purchase bonds to conduct business