insurance cape coral


1639 Cape Coral Pkwy E, Suite 203 Cape Coral, FL


Phone: (239)549-5420
Fax: (239)549-7905






Many government agencies in Florida require individuals to purchase surety bonds before they can manage a business or provide a service to consumers. Even though Florida laws require so many people to be bonded, they often have a limited understanding of what surety bonds are and how they work. We believe the bonding process is easier when clients understand what they're getting. So, we're here to answer any questions you might have about getting a surety bond in Florida.


How do Florida surety bonds work?

Generally speaking, Florida surety bonds protect businesses, consumers and/or government entities from those who might take advantage of their professional positions. The specific protection provided by a Florida surety bond will vary depending on the specific bond type and its legal language.

No matter the specific form it's issued on, though, every Florida surety bond functions as a legally binding contract that brings three entities together.

The Obligee requires the bond to guarantee compliance with industry regulations.

The Principal buys the bond as a way to guarantee future work performance.

The Surety sells the bond and provides a financial guarantee of the principal's ability to meet the bond's terms.

If a principal should fail to meet the bond's terms, harmed parties can collect reparation by making a claim on the bond. The bond's legal language typically requires the principal to pay for any claims made, but the surety could be left footing the bill if the principal cannot do so.


How much do Florida surety bonds cost?

Florida bonds can be issued to 99% of applicants regardless of their credit and other financial credentials. Our surety specialists are brokers who work with a number of underwriting firms, which gives our clients access to some of the best Florida surety bond premiums. Because we work with so many markets, we'll be able to find you a competitive surety bond rate.


Florida surety bond costs are based on a number of factors, including the specific bond type and the principal's financial strength. When an applicant has strong financial credentials, a Florida surety bond premium is typically calculated as 1 to 3 percent of the bond amount. So, if the desired bond amount is $10,000, an applicant with good credit usually pays a $100 to $300 premium.


Who needs a surety bond in Florida?

Countless professionals - from mortgage brokers to contractors to auto dealers - are required to secure a surety bond before they get a business license in Florida. If you're not sure whether you need a Florida surety bond, review licensing regulations for your industry. The state's licensing website and other departmental sites typically outline industry regulations, including Florida surety bond requirements.