In Home Care Fidelity Bond

Bond Penalty: $5,000 to $500,000

A home care bond or caretaker bond is an inexpensive and way to protect both your business your clients. This type of commercial crime coverage is often called a "business services bond" or "dishonesty bond". The coverage is a third party fidelity bond which insures against the dishonest acts of employees that provide services on the premises of a client. Employee theft from client businesses and residences is common. The statistics report that approximately seventy five percent of retail and labor employees steal from their employers at least once and that those losses account for seven percent or more of annual revenue. Is your business vulnerable to losses like these?

  • Caring Hand Home Care contracted with a disabled party to provide daily in-home services. The appointed employee stole jewelry and firearms worth in excess of $20,000.
  • Elderly Support, Inc., placed an employee in the home of a late stage Alzheimers patient. The employee assumed the identity of the ward, applying for credit cards and forging checks drawn on the ward's checking account.
  • An in-home care assistant took advantage of an elderly incompetent, convincing the client to rewrite her will to include the perpetrator.

Proper background investigation and reference checks of potential employees is a good risk management however it is not possible to watch every employee at all times. One significant loss due to employee dishonesty can erode company profit or worse, a client lawsuit against you and your firm can bankrupt you and cause irreparable reputation damage. Given that employee theft is the cause of over a quarter of business failures, an in home care services bond can mean the difference between losing your livelihood and running a profitable business.

National fidelity bond leader, Surety One, Inc., specializes in underwriting fidelity risks for ALL types of business risks. No background checks are required, and we NEVER turn away an applicant.

Surety bond application review and quoting are free of charge. There is no obligation to purchase.