When you hire your employees, you expect them to do their very best for you. You anticipate them being honest and making as much money for your business.
However, you cannot entirely control the actions of your employees when they are on the clock. You can, however, protect the reputation and profit of your business by taking out a performance guarantee bond on each of your workers.
The Value of Performance Bonds
A performance guarantee bond can offer invaluable protection for your company’s profits and reputation. Primarily, the policy can be cashed if your employee commits fraud while he or she is on the clock. During incidences of fraud, your company will be held liable for any monetary damages that your customers incur.
Whether your company has a judgment issued against it or you pursue a settlement with the victim, you can make a claim against that policy to recoup the monetary damages. You avoid having to pay the money out of your own bank account. The insurer will issue a check to the victim on your company’s behalf.
Shopping for Affordable Rates
Even while performance bonds can offer invaluable protection for your business, they also can take a toll on your cash flow if you do not shop around for the best rates. You want these policies to accurately reflect not only the amount of money that you can spend but also your company’s reputation and the work ethic of your employees.
You can get a free quote for the policies by contacting the insurer directly. You can also control the price of the policies by adjusting what you need them to cover and how many employees that you plan to insure.
You can find out more about performance guarantee bonds online. Contact JR Olsen Bonds & Insurance, Inc at Website
