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McCloskey Advisor Group
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      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Motorcycle Insurance
      • RV Insurance
    • Property >
      • Home Insurance
      • Landlords Insurance
      • Renters Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Insurance Bonds
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      • Umbrella Insurance
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      • Life Insurance
      • Annuities
      • Disability Insurance
      • Final Expense Insurance
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      • Health Insurance
      • Critical Illness Insurance
      • Dental Insurance
      • Vision Insurance
  • About
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    • Insurance Carriers
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Insurance Bonds

If you need an insurance bond to bid on or get hired for a new job call us. We're insurance bond experts and we'll get it taken care of you... Fast!

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What is an Insurance Bond?

An insurance bond ensures contract completion in the event of contractor default and are typically required by project owners when seeking a contractor to fulfill a contract. 

The contractor obtains a bond so the insurance company is obligated to compensate the project owner for the financial loss incurred if the work is not completed. ​

Typical Insurance Bond Types

Although there are many types of insurance bonds, the four most common types needed by business owners are:
  • Bid Bond - Ensures the bidder on a contract will enter into the contract and furnish the required payment and performance bonds if awarded the contract.
  • Payment Bond - Ensures suppliers and subcontractors are paid for work performed under the contract.
  • Performance Bond - Ensures the contract will be completed in accordance with the terms and conditions of the contract.
  • Ancillary Bond - Ensures requirements integral to the contract, but not directly performance related, are performed.


Contact us to learn more about the right insurance bond for you.
(719) 247-1554
5329 Montebello Ln
Colorado Springs, CO 80918
Click Here to Email Us

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McCloskey Advisor Group
5329 Montebello Ln
Colorado Springs, CO 80918
(719) 247-1554
Click Here to Email Us

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