Surety Bond Company

Simon Insurance provides many types of bonds …

Thursday, May 16th, 2013

Today surety and probate bonds are very much a part of the mainstream business world. Anyone in business today that works on projects for or in the community will have no doubt come across the term ‘surety bond’. In most cases a project cannot be authorized to begin without their first being a bond contract in place for all the parties involved to adhere to. However, what is not widely known is the diversity of bonds available today. From Lottery bonds to Medicaid bonds, there are more bonds available and required today than ever before. As more safeguards are put in place to ensure the protection of clients and customers you will need to be aware of the bonds that are required within your field of work. Here are a few examples of bonds that the professionals at Simon Insurance can help you with:

A Lottery Bond – This bond is made for the lottery seller, to ensure that he or she does not hold back or misuse any of the lottery prize money.

ARC Bond – This bond is required for travel agencies to ensure that all the monies received for flights go to the airlines that will be carrying the passengers that bought the tickets from the travel agents.

ICC Broker Bonds – This bond is designed for Freight brokers. It ensures that all shippers and carriers get paid for their transportation efforts.

MFG Home Dealer Bond - Also known as a mobile home dealer bond. This bond is required for any seller of mobile homes. It ensures that they will abide by the terms and stipulations as required in the bond for the safety and well-being of those who live in the mobile homes.

Sales Tax Bond – This bond is required by retailers to ensure that they will pay all required taxes on sales to their company to the government.

MVD / Motor Vehicle Bond – This bond is for car dealership, to serve as a license to sell cars that will protect the consumer in the event of fraudulent activity on the part of the dealership.

Patient Trust Bond – This kind of bond is primarily required for nursing homes, in order to ensure that loved ones are adequately cared and provided for by the business.

Utility Deposit Bond – Utility Bonds are usually required by law for private obliges. Example: Apartment rentals owners to ensure that utilities in the facilities run without disruption.

Wage & Welfare Bond - This kind bond is for business unions to ensure that members in the union receive payments as promised even if certain members of that union pull out.

Bad Credit Surety Bond - Sometimes referred to as high risk surety bonds, as pertains to the applicant of the bond rather than the bond itself. In such circumstances the applicant will have a bad credit history and further requirements will have to be met before the bond is issued.

Medicaid Bond – This bond is for manufacturers that provide and sell medical products. It is to ensure that their products adhere to the standards set by law.

Street Obstruction Bond - This bond is required when a company does construction work in a public place. It allows them to have the authority to cause a minimal obstruction to people as the project is being completed.

Taxi Company Bond – This bond is issued for taxi companies or owners to have the license to transport passengers in their vehicles within a certain community or city; without which they will be liable for any injuries or problems that may occur as a result of their taxi services failing to safeguard the well-being of its passengers.

Compliance Bond – This bond is typically used for construction projects to ensure that the contractor complies with the states regulations.

Dishonesty Bond – A dishonesty bond is actually for the protection of an employer against dishonest employees. Example: An employee steals from the company or embezzles funds. This will ensure that the employer is financially compensated for any losses incurred by the employee’s dishonest activities.

Call us today for a free consultation for all types of Bonds including Court Bonds, License Bonds, Probate Bonds and Permit Bonds. Simon Insurance is based in South Florida and serves clients throughout the United States and Florida including Miami, Ft Lauderdale, West Palm Beach, Tampa, St Petersburg, Cape Coral, Orlando and Jacksonville. We encourage you to browse our website and call or email us today to find out how we can assist you. A fast and free expert consultation is just a phone call away. 561-948-4141.

Tags: Bad Credit Surety Bond, Compliance Bond, Dishonesty Bond, Medicaid Bond, MVD / Motor Vehicle Bond, Patient Trust Bond, Sales Tax Bond, Street Obstruction Bond, Taxi Company Bond, Utility Deposit Bond, Wage & Welfare Bond
Posted in Probate Bonding Agent West Palm Beach, Probate Bonds, Probate Bonds Florida, Surety Bond Company, Surety Bonds for People With Bad Credit, surety bonds, surety bonds west palm beach | No Comments »

How to choose a bond company?

Friday, September 28th, 2012

When looking for the right bond company it is easy to feel overwhelmed by the lofty nomenclature and the complex procedures that are involved in obtaining a bond. So what should you look for in bond agency? Because you want to make sure that you get the right bond and the right price. Here are some important things to look for when inquiring at any bonding agency:

1. Choose a company that can give you the best rates for bonds in your area or state:

Surety bond rates are usually determined as a percentage of the entire bond amount. This percentage varies based on the specific bond type. For instance, notary public bonds are generally under $10,000 while performance bonds might be can be in the millions of dollars. Because the surety may possibly lose a great deal of money on larger bonds, naturally there will be higher rates. Since every type of bond has different legal guidelines to be adhered to, the jurisdiction where the bond will be held may also impact your surety rate. For instance, the bonding laws for a surety bond in California could be different to that of laws in Florida for surety bond specifications. Find out what the going rates are for the bond that you need by contacting us at Simon Insurance, a proven and authoritative bonding agency.

2. Does the company have a reputable long history in the bonding business?

Simon Insurance is an experienced surety bond broker over 30 years of bonding, which can give you the edge in obtaining the best price and coverage for your bond. Our surety bonds specialists have an extensive history in surety bonding, as well as strong relationships with the leading surety bonding companies, which will work hard for you to ensure that you get the best terms and conditions for your bond.

3. Does the Bond Agency provide the bond you are looking for?

Simon Insurance offers many different types of surety bonds, we strive to provide you with the bond you need. Here are some of the most popular bonds we provide:
•    Executor Bonds
•    Guardianship Bonds
•    Testamentary Trustee Bonds
•    Trustee for Will Bonds
•    Non-Standard Surety Bonds
•    Probate Bonds
•    Fiduciary Bonds
•    Commercial Surety Bonds
•    License and Permit Bonds
•    Court Bonds
•    Contract Bonds and more.

4. Is the bond company fast and responsive to your bond request?

Too many bonding companies today are too slow in expediting and processing your bond in an efficient and prompt manner. We believe at Simon Insurance that the bond broker should prioritize the client’s needs above all other matters in the office so that you can get the bond you need as quickly as possible.

5. Finally is the bond company willing to assist you though the whole process in obtaining a bond.

You want to work with a bond agency that is both willing to serve and educate you on the bonding market in order to give you very best deal available. We at Simon insurance are committed to you from the initial inquiry to the purchase of the bond. We want to make sure you are fully informed of what the bond will cost and how it helps you and your business or family needs.

Call us today for a free consultation for all types of Surety Bonds including Court Bonds, License Bonds, Probate Bonds and Permit Bonds. Simon Insurance is based in South Florida and serves clients throughout the United States and Florida including Miami, Ft Lauderdale, West Palm Beach, Tampa, St Petersburg, Cape Coral, Orlando and Jacksonville. We encourage you to browse our website and call or email us today to find out how we can assist and help you.

Tags: Bond Company Orlando, Bond Company Palm Beach, Bond Company South Florida, Bond Company tampa, Florida Bond Company
Posted in Probate Bonding Agent West Palm Beach, Probate Bonds, Probate Bonds Florida, Surety Bond Company, Uncategorized, surety bonds, surety bonds west palm beach | No Comments »

Surety Bonds in Florida

Tuesday, July 31st, 2012

There are many kinds of surety bonds available. Most consumers know that Surety bonds are safeguards that utilize monetary penalties as an incentive for individuals to fulfill the terms of a legal contract. Probate, Administrative and Conservator Bonds are specific types of surety bonds put in place to ensure a party or parties follow the terms of their court assigned position. In the state of Florida, only licensed professionals are qualified to provide surety bond services.
Here are some of the bonds we provide for residents of Florida including West Palm Beach, Ft Lauderdale, Miami, Tampa, Orlando and Jacksonville.

Probate Bond- a bond an executor posts to ensure he/she will perform their duties to the fullest. Similar to collateral, the executor must forfeit the bond if the probate court determines that he/she has failed to live up to the duties of the position.
Administrator’s Bond- is a bond posted on behalf of the Administrator of an estate to ensure that he or she conducts their duties in accordance with the provisions of the will and/or legal requirements of the jurisdiction.
Conservator Bond- is a required entity of a person, official or organization that handles the money or property of an incompetent person. The conservator bond, which is subject to several terms, ensures the preservation of the assets of the estate through the faithful performance of responsibilities according to the law.
Guardian Bond-is required of an adult appointed by a probate court to assume the care and management of an incompetent adult.
Trustee Bonds- a bond that insures that the trustee, a person or entity that holds the assets (corpus) of a trustee, performs their duties to the benefit of the beneficiaries.

Looking for a helpful Surety Bond company in Florida? Then consider the professionals at Simon Insurance. With over 20 years of experience we are ready to assist you with your questions about bonds. We will give you our full attention and draw upon all the necessary resources to give you the very best surety bond to fit your needs. We have a strong and proven track record in making successful contracts, from Construction bonds to Telemarketing bonds, and many other bonds. We can deliver fast results, great prices and quality customer service.

Tags: Surety Bonds in Ft Lauderdale, Surety Bonds in Jacksonville, Surety Bonds in Miami, Surety Bonds in Orlando, Surety Bonds in Tampa, Surety Bonds in West Palm Beach
Posted in Probate Bonds, Surety Bond Company, surety bonds, surety bonds west palm beach | No Comments »

What is the difference between Bonds and Insurance

Tuesday, June 5th, 2012

What is the difference between surety Bonds and Insurance?

Many consumers find it difficult to understand the difference between bonds and insurance. Reality is, these two insurance products are very different. The most significant difference is the beneficiary. Traditional insurance is purchased by a policy holder to protect it self from claims of liability. A surety bond is not purchased for the benefit of the policy holder, but for the protection of the third party with whom the policy holder has contracted. A surety bond protects the obligee in the event that the policy holder defaults on fulfilling their contracted work order.

With insurance, an individual is required to pay an insurance premium to their insurance provider, which essentially transfers most (it not all) the risk from the individual buying the insurance to the insurance provider. The primary similarity between insurance and a surety bond is the payment of a premium, because whenever an individual pays a bond premium for any surety bond they (the principal) will not transfer risk on the surety, but rather the payment for claims will be the principal’s responsibility. When dealing with surety bonds, the protection goes to the individual or organization that needs the principal to buy the bond (the obligee).

How then does a surety bond differ from an insurance policy? While a surety bond can indirectly, in the broadest sense of the word provide an insurance for the obligee, a surety bond is distinct from that of a traditional insurance policy because a surety bond will have three parties in the contract, which are:

The principal - the primary party who will be performing a contractual obligation
The obligee - the party who is the recipient of the obligation
The surety - who ensures that the principal’s obligations will be performed.

While an insurance policy is in principle a two party contract. A normal insurance policy is a legally binding contract between an insurance provider and the individual who purchases the policy, commonly referred to as the “policyholder”.

Another factor that distinguishes surety bonds from traditional insurance is loss estimation. Insurance companies use mathematical calculations to evaluate potential losses. A surety bond underwriter assesses their risk in terms of zero loss. Insurance firms typically anticipate to make payment for a certain percentage of claims. Having said that, surety companies do not anticipate to make such payments on claims, and instead treat the premiums paid for surety bonds as service charges. The premiums in essence authorize the principal to use the surety’s funds for financial backing, which gives the necessary guarantee.

In summary, insurance companies are built upon consumers who will probably file claims, and want to make use of their insurance. In the surety bond business, claims are not regarded as inevitable. All parties involved will try to the best of their ability to prevent losses. So bonds are different from insurance policies, but both are equally needed to safeguard us from potential losses and claims.

Call us today for a free consultation for all types of Surety Bonds including Court Bonds, License Bonds, Probate Bonds and Permit Bonds. Simon Insurance is based in South Florida and serves clients throughout the United States including Miami, Ft Lauderdale, West Palm Beach, Tampa, St Petersburg, Cape Coral, Orlando and Jacksonville. We encourage you to browse our website and call or email us today to find out how we can assist and help you.

Tags: Bonds and Insurance Tampa Florida, Bonds in Cape Coral Florida, Bonds in Jacksonville Florida, Bonds in Orlando Florida, Bonds in Petersburg Florida, Bonds in Tampa Florida
Posted in Probate Bonds, Probate Bonds Florida, Surety Bond Company, Uncategorized, surety bonds, surety bonds west palm beach | No Comments »

Call for a consultation on License and Permit Bonds

Thursday, April 26th, 2012

Call for a consultation on License and Permit Bonds. We are here to assist you with all your question concerning license and permit bonds, as well as all surety and probate bonds Here are some of the bonds we can serve you with.

Standard Probate Bonds (Probate Bonds). The administrator of the estate signs this bond to guarantee that he or she will perform and fulfill his or her duties as promised. Included in these responsibilities is arranging an official list of all the assets and items of the deceased and distributing them based on the stipulations found in the will. The administrator or executor will incur loses according to the terms of the probate bond if the court concludes that he/she has neglected to fulfill his or her responsibilities. The bond covers this.
Guardian Bond are at times needed for certain persons that are unable to look after their own legal matters, normally a minor or a mentally handicapped person. A legal guardian is selected to represent the client in court.
License and Permit bonds are a sub-class of bonds. They belong to the commercial category of bonds to ensure that the principal will follow the terms and conditions in the license for which they file the bond.
Private School bond- A kind of bond provided by a private school to guarantee that if the school closes the students are to be compensated for any enrollment cost yet to fulfilled by the school . The private school surety bond will guarantee that the schools failure to function will not hinder student financially from enrolling in a different school because the school will be liable for any such loses.

For over three decades now the experts at Simon Insurance Agency, and its previous companies, have delivered probate bonds to contractors and lawyers with punctual and speedy legal solutions at affordable rates. Call for a consultation on License and Permit Bonds or surety and Probate bonds.
We encourage you to browse our website, or call and email us today to find out more on how we can assist and help you.

Tags: Kinds of Bonds, license and permit bond, license bond, License bonds Florida, looking for License Bond, looking for Permit Bonds, permit
Posted in License Bonds, Probate Bonds, Surety Bond Company, Uncategorized, surety bonds west palm beach | 1 Comment »

Private School Surety Bonds in South Florida

Monday, March 12th, 2012

A private school bond is a type of guarantee issued by a private school to ensure that in the event of that school closing down and ceasing to provide classes that the student is reimbursed for payments paid for those discontinued classes. The private school surety bond will ensure that the financial losses of school will not cost the student anything and it’s surety company, and the school in turn will take full responsibility.

Private School Surety Bonds are necessitated for private schools to guarantee that the school will fulfill its promises within the procedures stipulated by the state. The specifics of such a surety bond will vary from school to school. The cost of Private School surety bond will vary depending on the needs and requirements of the school.

Private School Surety bonds in Florida are the best legal way to safeguard students from a school’s failure to fulfill its obligations and to insure the financial security of the school. The mixture and diversity of rules from the state of Florida can lead to misunderstandings about the financial security of a school.

So if you are private school owner or leader seeking a surety bond then you should contact us at Simon Insurance. We are the right bond agency to provide your bond. Contact us st 561-948-4141 to find out more!

Tags: Private School Surety Bonds, Private School Surety Bonds in Florida, Private Schools, surety bonds, Surety bonds in South Florida, Surety Bonds in West Palm Beach
Posted in Contractor Bonding in Florida, Fiduciary Bonds South Florida, License and Permit Bonds, Probate Bonding Agent West Palm Beach, Surety Bond Company, Uncategorized, estate bonds, surety bonds, surety bonds west palm beach | 1 Comment »

Bond Company in Florida

Thursday, January 19th, 2012

A bond company in Florida that focuses on providing the clients with extremely competitive rates on all types of surety bonds is Simon Insurance Agency. We are devoted to providing our clients with a variety of Bond products to meet each specific need. With extensive knowledge we are able to answer all questions and concerns about Bonds making our clients feel secure and confident in making the right decision to fulfill their desire.

There are many types of Court and Probate bonding services available in Florida, some include:

• Executor Bonds
• Guardianship Bonds
• Testamentary Trustee Bonds
• Trustee for Will Bonds

With diversity of options, great rates, access to an array of providers you are sure to find exactly what you are looking for in a Bond Company in Florida. And remember that the Bonding Industry can be complex and overwhelming, so don’t forget to take advantage of your FREE consultation offer.

Tags: Bond Company in Florida, florida, Florida Bond Company, Florida surety bonds, performance bond, Probate, Simon Insurance Agency, surety, surety bond
Posted in Fiduciary Bonds South Florida, Probate Bonding Agent West Palm Beach, Probate Bonds, Probate Bonds Florida, Surety Bond Company, Uncategorized, surety bonds, surety bonds west palm beach | 1 Comment »

Probate a Will in Florida

Tuesday, January 17th, 2012

To probate a Will in Florida is not difficult if your credit is in great condition; however, if your credit is imperfect chances are you will need to have your bond obtained via a specialty market. At Simon Insurance Agency we have specialty probate bond markets to help people with good or bad credit construct the appropriate bond for his/hers specific need.

This process can be cumbersome and costly, but it doesn’t have to be for you. With over 30 years of experience our agents and processors posses the necessary knowledge to provide you with the perfect coverage at the most competitive rate and since we are representing some of the largest and most respected surety/insurance companies in the world, we are sure to have the resources to accommodate your need.

There are many different types of Probate Bonds associated with the probate of a Will. Here are some examples:

Standard Probate Bonds (Probate Bonds)
Administrator’s Bonds
Conservator Bonds
Guardian Bonds
Trustee Bonds

Finding the right Bond to Probate a Will in Florida is an important matter to ensure that the estates of a Will are handled accordingly. To make sure that a Will is serviced correctly contact Simon Insurance today for a FREE consultation and get the right Bond for you.

Probate a Will in Florida

Tags: administration, attorney, cost, estate, faqs, florida, formal, joint assets, lawyer, Probate, probate a will in Florida, summary, surety, surety bond
Posted in Probate Bonds, Probate Bonds Florida, Surety Bond Company, Uncategorized, probate a will in Florida, surety bonds, surety bonds west palm beach | 2 Comments »

Contract Bonds in Florida

Tuesday, January 3rd, 2012

Contract Bonds in Florida are absolutely required before you begin any construction work. Construction is a normally expensive and lengthy process, so before you begin you want to ensure that the obligee or owner will receive what is promised. In most cases work will not even begin until you have obtained a bond for your obligee. Failure to provide one will normally result in a decline from the owner to hire you as the contractor. This will be a wise move on the part of owner, for without the surety of the completed work there will be no guarantee that you will be true to your agreement to finish the construction work by a certain deadline or date. This might seem over cautious but it is a real threat to most construction projects.

For example you may have construction tools that unexpectedly breakdown and hinder the work flow of the construction. The owner is going to want to have the bond in place to ensure that this will not leave the work undone or late. Or you may have subcontractor that pulls out unexpectedly resulting in a delay in the work until you find a suitable replacement for that contracted work.

There are so many anxieties an owner can have before investing a large sum of money into a construction job. This is one among many good reasons why a owner would be interested in contract bonds in Florida, so allow us at Simon Insurance to take care of your legal concerns by providing the right contract bond for you and your company. We work hard on your behalf to make sure that all parties are protected in the construction project. Contact us today!

Tags: Bid Bond in Florida, Maintenance Bond in Florida, Payment Bond in Florida, Performance Bond in Florida, Site Improvement Bond in Florida, Subdivision Bond in Florida, Supply Bond in Florida
Posted in License and Permit Bonds, Permit bonds, Surety Bond Company, Uncategorized, surety bonds, surety bonds west palm beach | 1 Comment »

Guardian Bonds in Florida

Tuesday, December 20th, 2011

Guardian bonds in Florida are normally required by the state to help interests of a individual or individuals that have certain entitlements for care and financial support who can not, for whatever reason, look after themselves. The guardian is normally nominated by the members of the ward’s family by way of petition, and then in turn applies for that person to be the legal guardian. The guardian will be commissioned with certain financial responsibilities and distributions on behalf of the ward. The bond will guarantee the guardian fulfills these legal responsibilities. The guardian is someone who is appointed by the court to look after the needs of the individual not able to legally help themselves, that is the ward.

The most common example of this is a child who has lost both parents and requires guardianship and assistance. This is normally undertaken by the next of kin, although when the child turns fourteen they can request another guardian. Or it could be a grand parent wanting to make a bond with their son or daughter on behalf of a grandchild, making the parents the legal protector of their estate that is to be distributed accordingly to the child at an appoint occasion or time, normally upon the death of the grandparents.

However it is not limited to this, there are other examples of wards of guardian bonds such as mental incapacitated persons due to injury or disability. In such cases the guardian bond is to ensure that the incapacitated person will be treated correctly and appropriately by the appointed guardian within the terms of the bond.

If you are looking for a guardian bond in Florida then we at Simon Insurance can help you in order to ensure that your loved one receives the care and financial protection they need. Contact us today to find out more!

Tags: custodian bond in Florida, Guardian Bonds information, How to get a Guardian Bond, protector bond in Florida
Posted in Probate Bonding Agent West Palm Beach, Surety Bond Company, Uncategorized, estate bonds, surety bonds | No Comments »