william stratton 14 Report post Posted March 23, 2004 I'm in the process of finding a good insurance company, and the question I ask to all our members is what about getting bonded. Why do you get bonded and what type of bond is required for pressure washing? Please, any advice would be great. William Stratton Stratton's Pressure Wash Share this post Link to post Share on other sites
EmpirePW 14 Report post Posted June 19, 2004 I see nobody answered his question but now I have the same question so if you guys that are bonded can shed some light on the situation it would be wonderful. I am still a start up company and my biggest client thus far is the resturaunt that I work part time in. They are really helping me get going by offering me their pressure washing jobs without even putting in bids. They want me to start cleaning the floors in the kitchen on a regular basis but my manager says to be in the resturaunt after hours with no supervision I have to be liscensed, insured, and BONDED. I am liscensed and insured but not Bonded. I was curious about who I would contact to be bonded and being a one man company right now how much it would cost to get bonded. Any information would be great. Share this post Link to post Share on other sites
RyanH 14 Report post Posted June 19, 2004 From contractors in other industries with whom I have spoken, it seems that being bonded is more a mental hangup than a practical necessity. A bond (from what they say) is essentially a limited insurance policy on a specific task. For example...you build an addition onto a house. You will have a bond issued by a bank or, in some cases, an insurance company, to cover the durability of that structure. The bond is essentially a guarantee on any particular piece of work. Another example would be to insure that the termites you were supposed to kill and guaranteed to be dead didn't die and came back and ate the house. Bonds cover specific damage. Insurance is a general protection in case you blow a hole in the siding while cleaning a house or rip the surface off a deck. I don't see the point in requiring any type of service like this industry (or janitorial stuff) to be bonded in order to be hired. Maybe I'm wrong on this explanation, but this is what I gathered from talking to the contractors. Share this post Link to post Share on other sites
EmpirePW 14 Report post Posted June 19, 2004 That's along the lines of what I thought too but I'm not sure, that's why I asked. I am assuming you are not bonded at all then Ryan. Is there anyone out there that is bonded that could share their point of view on the subject? Share this post Link to post Share on other sites
One Tough Pressure 580 Report post Posted June 19, 2004 Most janitorial companies are bonded. They have employees inside of a building where theft is easy. The bond they carry is to satisfy the customer that if an employee steals they have insurance. The common bond rate in CA was $7500. and just increased to $10,000. It is a kind of like a loan. You pay your monthly premium to be bonded, and if the bond gets used, then you repay what was paid out, unlike insurance where you pay the deductible and the insurance company pays the rest. Share this post Link to post Share on other sites
EmpirePW 14 Report post Posted June 19, 2004 Where do I go to get bonded? My insurance company or some other sort of company? Also I know it will vary from area to area and company to company but how much are we thinking my monthly premium may be to get bonded? Ballpark that is... Share this post Link to post Share on other sites
One Tough Pressure 580 Report post Posted June 19, 2004 You can look at this link www.suretycopac.com/ to get a little more info, and then go to the yellow pages and see what you have near you. Your insurance person may offer Bonding, or know someone who can. Share this post Link to post Share on other sites
Mike Williamson 198 Report post Posted June 19, 2004 The only reason I can see to be bonded is if you're doing any work inside a home/business, like cleaning or doing windows. I do windows, but I'm never in the home without the homeowner being at home. I'm not bonded, and have never had anyone ask about it. Share this post Link to post Share on other sites
charlie 14 Report post Posted June 19, 2004 Go to your insurance company and ask them how much? Mine is $100 for 5000.00 a year coverage. Charlie Share this post Link to post Share on other sites
EmpirePW 14 Report post Posted June 20, 2004 $100 per year or $100/month? Share this post Link to post Share on other sites
charlie 14 Report post Posted June 20, 2004 A year Charlie Share this post Link to post Share on other sites
EmpirePW 14 Report post Posted June 20, 2004 That would be no problem at all. I was thinking this was going to get kinda expensive. Hopefully it doesn't but that's your price and I haven't gone for a quote yet. It's on my agenda for tomorrow though so we will see. Share this post Link to post Share on other sites
