Allied Insurance Managers is a professional full-service insurance and bond agency dedicated to providing insurance and bonding expertise at a competitive price while maximizing your protection.
We provide our customers with unmatched customer service by building long lasting relationships leveraging our knowledge and expertise.
As an independent agent, we work with many different insurance companies which allows us to recommend the best alternative for any individual or business no matter the circumstances. We also have professional agents/accountants on staff that can quickly determine what it takes to be approved.
What is a Surety Bond?
A surety bond is a promise to be liable for the debt, default, or failure of another. It is conducted by a contract between three parties—the principal (individual or business that purchases the bond to guarantee performance), the surety (the company insuring the Bond) and the obligee (the entity requiring the bond)—in which the surety financially promises to an obligee that the principal will act in accordance with the terms established by the bond. The Surety Bond is designed to protect the Obligee against losses resulting from the Principal.
Types of Bonds:
- Contract Surety Bonds
- Commercial Surety Bond
- Fidelity Surety Bond
- License and Permit Bonds
- Public Official Bonds
- Fiduciary Bonds
- Court Bonds
- Bankruptcy Trustee Bonds
- Bid Bonds
- Payment Bonds
- Performance Bonds
- Maintenance Bonds
- Supply Bonds
If you are unsure about the type of bond you require, call us at (248)-853-0930 to speak to a representative. We are here to answer your questions and guide you throughout the process.
Surety Bond Application Process:
When applying for a bond, there are a few simple steps to take. You start by completing a bond application, which includes a credit check. Keep in mind that you can request a single year or multi-year quote, depending on your bond requirement.
The process then moves to underwriting. There may be some additional questions at this stage, but the turnaround time is generally less than 24 hours.
Surety Bond Underwriting Process:
To determine your bond premium, your financial strength is applied such as your personal credit information and FICO score. There are many different financial situations individuals endure. Luckily, Allied Insurance Managers, represents many surety companies that will underwrite ideal credit to not so ideal credit applicants and quote the most competitive rates available. In some cases, financial statements may be required.
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