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What is an Ohio Surplus Lines Broker ($25,000) Bond?
If you are a surplus lines broker in Ohio, it is crucial to understand how the bond works. The $25,000 surety bond must be filed with the ODI before an insurance company will provide one for your business. This policy ensures compensation for any financially harmed person(s) due to the licensed broker’s actions and compliance with Ohio law.
Do you need a bond for your company?
Swiftbonds is a leading provider of surety bonds. We offer the best rates, fastest service, and most professional customer service in the industry. Our goal is to make sure that we are always there when you need us.
If you’re looking for an easy way to get bonded quickly, call or email us today! We can help with any type of bonding requirement – from construction site safety to general liability insurance. You can even apply online! It only takes minutes and it's completely free.
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Why is the Ohio Surplus Lines Broker ($25,000) Bond required?
Businesses must purchase a bond to activate their license or permit. This guarantees that if the business fails to comply with licensing and permit laws, they will be compensated by the surety company for any damages incurred due this negligence. Here's a Ohio Sewage Treatment Systems Installer (Multiple) Bond.
How does an Ohio Surplus Lines Broker ($25,000) Bond work?
Getting an Ohio Surplus Lines Broker ($25,000) Bond means you agree with the entity requiring it, called the obligee. Your surety company agrees to cover for you in case your clients or public make claims against their contract and need payment from your bond. If there’s ever any problems on either side of this agreement, only then will we get involved so that both parties can be satisfied. Read a Ohio Private Water Systems Contractors Bond ($20,000).
How much does an Ohio Surplus Lines Broker ($25,000) Bond cost?
Ohio Surplus Lines Broker ($25,000) Bond is a type of surety bond that varies in cost and depends on the credit score of the applicant. Sometimes, personal or business financials may be required depending on what surety amount is needed for bonding purposes.
Can I get an Ohio Surplus Lines Broker ($25,000) Bond with bad credit?
Swiftbonds offers a wide-range of approvals, regardless of credit history or bad credit. One key factor in our success is that we are able to work with 99% of applicants who have been turned down elsewhere due to their poor financial standing. Our knowledgeable underwriting staff will make sure you get the lowest possible price for your bond no matter what personal circumstances may be preventing you from getting approved for other companies' bonds. Get a Ohio Private Water Systems Contractors Bond ($10,000).
How to get your Ohio Surplus Lines Broker ($25,000) Bond?
Would you like to know the first step in getting your Ohio Surplus Lines Broker ($25,000) Bond? It's super easy! Fill out our quick online application and get a no obligation quote today. Our Underwriters will contact you within an hour of submission, or come chat with them on the phone for help applying. Find a Ohio Title Agent Bond ($150,000).