Bond Insurance Services

Additional Protection for Your Business With Bonds

In business, your reputation matters. It's important that you're as good as your word. However, when there are signed contracts involved, this isn't just a question of reputation. There are legal implications and insurance considerations.

Bond insurance is designed to have your back when you sign a contract with a third party. If the other party does not live up to their end of the bargain, then you have insurance to cover you for expenses and losses. It's possible to make a claim against the bond purchased by the contractor.

The coverage you need will depend on the type of business you operate. At Canby Insurance & Investment, we take the time to get to know our clients, and we'll provide a free consultation to discuss your needs and budget.

Because we are an independent agency, we choose our carriers ourselves. That means we only work with reputable carriers that offer affordable, comprehensive coverage with good claims service. We know our clients deserve the best.

Let's figure out your business insurance needs. Call (503) 266-2249 for a same-day appointment. We can get a free estimate for you as soon as possible!

Explore the Right Bonds for Your Business

The type of insurance you purchase for bonds will vary. It's best to understand the different options for bonds first.

Contractor's License Bond

A contractor license bond is an important type of surety bond. It's applicable when there are three different parties involved in a contractor project. The contractor's license bond legally protects you as the contractor, the company who hired you, and the state bond issuing agency. It's powerful three-way protection.

Performance Bonds

Also known as a contract bond, a performance bond is a surety bond that's issued by an insurance company or a bank. It guarantees the satisfactory completion of a project by the contractor. In other words, it guarantees performance.

The term performance bond is also used to denote a collateral deposit of money in good faith. This deposit is intended to secure a future contract for service. This is commonly known as margin.

Probate Bond

A will is usually left when a person dies. A probate bond can be purchased by the will executor to ensure that the wishes of the deceased are carried out ethically, honestly, and as expressed in the will.

Call Canby Insurance & Investment at (503) 266-2249 for more information about bonds and how you can make them work for you.