Carpet cleaning contractors that offer on premises residential and commercial services can benefit from a fidelity bond. The coverage is an inexpensive way to offer protection to consumers and legally advertise as a "bonded cleaning company". This type of crime coverage is often referred to as a "third party fidelity bond" or "dishonesty bond". Third party fidelity bonds may be written on a blanket basis that cover all clients or client/contract-specific basis for a financial institution or high net worth individual that requires dishonesty coverage as part of their vendor requirements. A fidelity bond covers the dishonest acts of employees that provide services "on the premises" of clients. Employee theft of client property is common. Approximately seventy five percent of retail and labor employees steal from their employers or employer's clients at some point. Those losses often account for a painful portion a firm's total income. Your carpet cleaning business may be vulnerable to losses like these.
Background and reference checks are helpful practices however there is no guarantee that a cleaning service will not commit a dishonest act. One large loss can zero a handyman company's total annual income or worse. A client lawsuit against a contractor can result in bankruptcy and irreparable reputation damage. Employee theft is the cause of over a quarter of business failures. A third party fidelity bond for carpet cleaners can mean the difference between closing the shop or running a profitable business that enjoys the trust of its community.
National fidelity bond leader, Surety One, Inc., specializes in underwriting fidelity risks for ALL types of businesses. No background checks are required and we NEVER turn deny an applicant. Call (800) 373-2804, email Underwriting@SuretyOne.com or click here to discuss your carpet cleaner fidelity bond need. We offer commercial crime coverage, cyber risk and hi-cap third party fidelity bonds in all fifty states, Puerto Rico and the U.S. Virgin Islands.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.