Surety
Bonds

Get the Best Surety Bond Pricing and Protection

If you or your business need a Surety Bond, call on us. We have access to a variety of carriers and can provide you and/or your business with a solution for any bond you need. Below, you will see a list of some of the surety bonds we offer. If you don’t see what you’re looking for, please call us and we’ll try to help you find it.

What is a Surety Bond

A surety bond is a financial guarantee that ensures a person or business fulfills their obligations, whether it’s completing a contract, following industry regulations, or meeting legal requirements. It involves three key parties: the principal (the individual or business required to obtain the bond), the obligee (the entity requiring the bond, such as a government agency or client), and the surety (the company that backs the bond and provides financial assurance). If the principal fails to meet their commitment, the surety steps in to cover the loss, ensuring trust and accountability. Surety bonds are commonly used in construction, business licensing, and legal matters, offering protection and peace of mind for all parties involved.

Types of Surety Bonds

State and Government Bonds

  • Mortgage Broker bonds
  • License Permit Surety bonds
  • Insurance Agent bonds
  • Auto Dealer bonds
  • Surplus Lines Agent bonds
  • Defective Title bonds

Fidelity Surety Bonds

  • ERISA bonds
  • Janitorial bonds
  • Employee Dishonesty bonds

Fiduciary Surety Bonds

  • Trustee Bonds
  • Administrator Bonds
  • Executor Bonds
  • Guardian Bonds
  • Veteran Affairs Bonds

Public Official Surety Bonds

  • County Clerk Bonds
  • Notary Bonds
  • ETax Collector Bonds
  • Treasurer Bonds

Bid bonds

A bid bond guarantees that a contractor will accept the contract if they are awarded the project and will provide a performance bond and payment bond. 

Performance bonds

A performance bond, also known as a contract bond, is a surety bond that guarantees a contractor will complete a project according to the terms of a contract, protecting the project owner (obligee) if the contractor defaults. 

Payment bonds

A payment bond is a type of surety bond that guarantees payment to subcontractors, suppliers, and laborers on a construction project, ensuring they are compensated for their work and materials, even if the contractor defaults. 

Why Consult Tom Needham Insurance Agency
for Your Surety Bond?

The right choice

Most surety bond carriers are subsidiaries of larger insurance companies and we use our experience to help you navigate through and select the right surety carrier and help you through the application and approval process.

We educate our clients

At Tom Needham Insurance Agency, we believe in educating our clients about their options, coverage, process and pricing so that they know exactly what they are paying for and how their services and their clients are protected.

We are specialized

For 26 years, we have specialized in promptly serving the needs of those seeking surety bonds in Greensboro and the surrounding areas.

Let the team at Tom Needham Insurance Agency help you choose the right Surety Bond coverage customized for you and your specific need. 

Call us now at 336-855-1223 or contact us for a surety bond request online and one of our agents will be in touch with you shortly.  

Tom Needham Insurance Agency – Offering You Better Prices and the Best in Service!