Handyman Fidelity Bond

Coverage Limits from $5,000 to $5,000,000

Specialty contractors that offer all sort of handyman services can benefit from a fidelity bond. The coverage is an inexpensive way to offer protection to clients and legally advertise as a "bonded 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 covers ALL clients or client/contract-specific which is convenient if the handyman's customer is a financial institution or high net worth individual that requires dishonesty coverage. A fidelity bond covers the dishonest acts of employees that provide handyman services "on the premises" of clients. Employee theft of client property is very commAon. pproximately three quarters of retail and labor employees steal from their employers or employer's clients and some point and that those losses often account for a significant portion a firm's income. Your carpentry business may be vulnerable to losses like these.

  • An employee A1 Cabinetry, LLC assigned three employees to overhaul the kitchen of a a luxury home. One of the crew tole multiple pieces of jewelry collection worth approximately $15,000.
  • A handyman working for RT Detail & Restoration, Inc. installing custom woodwork left the premises with firearms belonging to the home owner valued at $5,000.
  • A carpenter performing construction services across the piedmont area of Virginia stole, among other criminal offenses, checks from clients and forged them for pecuniary gain ("Local contractor faces 58th Rappahannock criminal violation", Rappahannock News).

Background ch3ecking and calling references are good risk management practices however they are no guarantees that a handyman 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 handymen 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 handyman 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.