Spotlight on Premium Financing

If you’re anything like me these days, reaching into your wallet is downright depressing. We’re all tightening our belts and finding different ways to cut unnecessary expenses. We’ve stopped eating out as often, made a strict budget and even (gasp!) reduced our DVD subscription to one movie a month. Times are tough to say the least.

Despite our best efforts, credit scores have dropped dramatically in the last few years and unfortunately most bonding companies rely heavily on your credit score to determine premium. Naturally, a low credit score can lead to a higher premium. So what happens when you need a surety bond and the premium seems just out of reach? You can’t get around the surety bond requirement, the company’s funds are limited and you need that surety bond today… Luckily, The Surety Group has come up with a solution that will help applicants get the bond they need when they can’t pay the entire premium amount upfront.

Our Premium Financing Option will allow applicants the opportunity to finance the premium amount and get their bond when they need it.  And, since the program is designed for those applicants with less than stellar credit, you don’t have to worry about qualifying.

Simply contact us today and let us tell you about our Premium Financing program. We can get you set up quickly and you can have your bond in your hands tomorrow.

Bond Spotlight: TN Public Adjuster Bonds

With the devastating floods in Tennessee recently, it makes perfect sense that we are suddenly getting a spike in calls for Tennessee Public Adjuster Bonds.

For those of you not in the know, a public adjuster acts on behalf of the insured when they submit a claim to their insurance company. A public adjuster works with the insurance company’s adjuster to navigate through the red tape of claims. They make sure the insured’s interests are protected and that the big bad insurance company (just kidding, we LOVE insurance companies!) fork over the money to restore the insured’s property.

Since there is a high likelihood of fraudulent activity that could occur in the types of situations requiring a public adjuster, there are rules and regulations in place to ensure that doesn’t happen. You know, people are vulnerable, the only reason they would need a public adjuster is because they’ve lost property or property has been damaged. It would be easy for someone to swoop in and not necessarily have their best interest at heart. The state requires a bond to discourage predatory practices.

No pun intended, but I’m sure insurance companies are flooded with claims from Tennessee right now.  As such, simple supply and demand principals will tell us that there is probably a bigger need for Tennessee public adjusters right now. And that brings it back around to the high numbers of calls we’ve been getting for the TN Public Adjuster Bonds.

Luckily, The Surety Group has a great program in place to accommodate all the new adjusters in Tennessee. Our TN Public Adjuster Bonds start at just $375 and same day service is available.

Have you ever seen an abandoned vehicle? Maybe you see one on the side of the road on your way to work. Or, maybe you’ve seen one that has been sitting in the driveway of that vacant house at the end of the street; and you’re sure it is bringing down the property value of all the houses in the neighborhood. It’s probably rusty and has a flat tire. Perhaps a stray cat or two have taken up residence in the trunk that’s never closed. It has probably been there for so long, that the novelty and mystery has worn off and you’d like to take matters into your own hands.

Not so fast… like most things in life, there are laws in place to regulate what can and can’t be done with salvaged or abandoned vehicles.

For example, The Department of Transportation of the Commonwealth of Pennsylvania requires all Salvage Auto Dealers to post a surety bond in the amount of $10,000. This particular surety bond guarantees that the Salvaged Auto Dealer will comply with the rules and regulations regarding salvaged and abandoned vehicles.  In other words, just because it’s been sitting in that driveway for over a year, you can’t just start selling the parts.

Luckily, if you really want to get that eye sore out of the driveway, you can. Simply apply to the Pennsylvania Department of Transportation for a Salvaged Vehicle License and contact The Surety Group to learn about our special programs in place for the $10,000 PA Salvaged Vehicle Auto Dealer Surety Bond. With our simplified underwriting and same day service, you can get your bond approved today.

Question:

• I am a small business owner and my credit is not good. I’ve never had to have this before and I don’t know what to do. If you can help, please let me know. Thanks.

Answer:

• Unlike traditional insurance, surety bonds are underwritten to ensure that there will be no loss. In that sense, a surety bond can act as a pre-qualification tool for the obligee. Whether you are a contractor looking for payment and performance bonds or a wine distributor needing a tax liability bond, the bond guarantees that you will do something.
  
  Since The Surety Group is a surety only agency, we have the markets to support almost all situations. Our goal is to find a surety to fit your needs and is willing to grow with your company. We have programs in place to help you increase your bonding capacity that will ultimately lead to overall business success.
  
  Simply complete one of our applications to get started-- or call (1-800-486-8211) us directly for more direction.