Learn more about janitorial bonds, and apply today. Absolute Surety offers surety bonds nationwide through a convenient online application system.
What Are Janitorial Bonds?
Janitorial bonds are a type of surety bond that’s sometimes referred to as fidelity bonds or business service bonds. Unlike many other types of surety bonds, janitorial bonds are voluntary rather than mandatory. They provide protection for the clients of a residential or commercial janitorial or cleaning service against financial loss resulting from theft committed by employees of the service. Although these bonds are voluntary, many clients will hire only cleaning services that are bonded, because it gives them peace of mind.
Once you have your janitorial service bond in hand, promote the fact that you’re bonded in all of your marketing efforts to help potential customers feel more confident in your company and build a trustworthy business reputation.
Who Needs Them?
Anyone who owns a residential or commercial cleaning service, such as a janitorial service, maid service, carpet cleaning business, or house cleaning service may want to purchase this kind of bond. It’s impossible to be certain that employees working in a client’s home or business premises can be trusted not to steal. Even if all of your employees are trustworthy, your business may be blamed for any theft that could occur.
New companies are particularly vulnerable and at risk of insolvency if they are sued and must pay damages to a client for the criminal actions of an employee. A janitorial services bond can prevent business failure in such cases.
Being bonded and advertising that fact in your promotional efforts gives potential clients the confidence to hire you, because they know they will be protected against theft. A janitorial bond is a great way to impress clients with your professional credibility.
How Do They Work?
The bond provides protection against financial loss due to theft of a client’s property—but not for property damage. The surety company will pay out a valid claim against the bond, and the cleaning service must then reimburse the surety company.
What Do They Cost?
The factors that determine the cost include the amount of the bond, how many employees will be covered, the location of the business, and the specific services offered. The applicant’s credit score typically doesn’t enter into the picture here.
The bond amount is completely up to the cleaning service, but it should take into account client expectations. Commercial clients typically expect a higher bond limit than residential clients because of greater potential for significant financial loss due to theft. Cleaning companies with a larger number of employees will pay a higher premium than smaller companies.
Janitorial bonds are relatively inexpensive, generally around $125 a year for a 10,000 bond.
Use our convenient online system to apply for a janitorial surety bond today.