What is a surety bond? Why would you need one?

Posted on June 16, 2023July 3, 2023 by admin

A surety bond refers to a legal and binding contract that serves as a financial guarantee that an individual will fulfill their obligations. The licensed insurance professionals at Surety Ins Inc. of Alabama offer various surety bonds, and the following short guide explains what a surety is and when you would need one.

Who are the Named Parties in a Surety Bond?

Surety bonds offer protection to the obligee from financial loss in the event that the principal fails to fulfill their legal commitments.

The Principal – the party needing the bond.
The Obligee – the party requiring the bond.
The Surety – the party providing the bond.

If the principal fails to meet the defined terms, the obligee has the potential to make a claim against the bond for losses.

What is the Purpose?

Surety bonds can be required by private companies, individuals, or even government agencies as they offer financial assurance that a commitment will be fulfilled. These bonds are often used in these situations –

Construction Projects.
Licensing & Permit Requirements.
Court Proceedings.
Public Contracts.
Business Operations.

Types of Surety Bonds

Here is a partial list of available surety bonds; each serves a specific purpose-

Contract Surety Bonds

These types are typical in the construction industry and ensure that construction firms fulfill their contractual obligations.

License & Permit Bonds

Government agencies require these as a condition for obtaining licenses.

Court Bonds

Court bonds are often required in legal proceedings to offer financial assurance.

Commercial Bonds

These bonds are used in various business operations to protect against potential fraud/dishonesty.

Contact a Leading Surety Bond Provider Today

For more information about available Alabama surety bonds, contact the licensed professionals at Surety Ins Inc. today – we are happy to help!

Is Your Renters Insurance Providing Adequate Coverage?

Posted on May 19, 2023June 21, 2023 by admin

If you have renters insurance in Alabama, you want to make sure it’s providing you with the coverage you really need. Surety Ins Inc. can help by taking a look at your existing policy and suggesting important changes. If you don’t have a current policy, we can also help you get one, so you can have more peace of mind. Not every landlord will require you to have renters insurance, but even if they don’t require it of you, you may want it to help protect the things you own.

Is Your Renters Insurance Providing Adequate Coverage?

To make sure you have the coverage you need, working with a professional insurance agent is the right choice. You want to feel confident that your belongings are protected, and the right policy will do that. That’s especially important if you have something that’s unusual, such as a grand piano or heirloom jewelry. In cases like that you may want to get additional coverage for that specific item.

Our insurance agents can help you decide the amount of coverage you need and whether you should be considering anything extra. When you’ve had a policy for a while, you often don’t think about the changes that might have happened in your life during that time. In many cases, you need more coverage than you started with, or that coverage needs to be adjusted in other ways.

Looking For Insurance In Alabama?

Surety Ins Inc. is committed to working with anyone who needs renters insurance to make sure you’re getting the level of coverage that works for your particular situation. We can help you get all the coverage you’re looking for, so you feel comfortable with the level of protection you have and can provide proof of coverage to your landlord, as well.

What’s included in my RV insurance coverage?

Posted on April 11, 2023June 21, 2023 by admin

Choosing a new RV with all the latest bells and whistles might be difficult. Finding the best insurance isn’t nearly as difficult.

Most RV insurance policies provide comparable coverage. That doesn’t mean you should give up. Surety Ins Inc. in Alabama is dedicated to offering you a personalized RV insurance plan that is as unique as your RV.

The following are the four coverage requirements for any RV insurance policy:

Collision Coverage

It comes as no surprise that this protects your RV from crashes. Any harm caused by an accident is covered here. This form of coverage is included in nearly all vehicle-based insurance plans, regardless of who is deemed to be at blame.

Complete protection

All other damage is covered by comprehensive coverage. Check your policy to discover what goods are listed. At the very least, this protects against falling debris, natural calamities, vandalism, and theft.

Liability

Most insurance policies are built around liability. This is especially important for motorized recreational vehicles. While the preceding measures protect your vehicle, liability protects you. It pays for any bodily harm, property damage, or legal fees incurred as a result of an accident.

Personal belongings

Many similarities exist between auto and RV insurance. Personal property protection, on the other hand, is an exception. This coverage is frequently included in homeowner’s or renter’s insurance plans. This includes the contents of your RV.

Get Insurance Coverage For Your Vehicle Today

Your RV is one-of-a-kind. It’s both a car and a home, with a range of furnishings and conveniences. Surety Ins Inc. in Alabama, on the other hand, may create tailored RV insurance coverage just for you. Make an appointment right away.

New Motorcycle? Three Questions to Ask Your Insurance Agent

Posted on March 27, 2023June 21, 2023 by admin

So you’ve just bought a new motorcycle! Congratulations! It’s time to contact your insurance company and confirm your complete coverage and that you’ll be fully protected on the open road. But what questions should be asked? Surety Ins Inc. in Alabama can advise you on this critical insurance coverage.

Here are three important questions to ask:

“What Type of Coverage Do I Need?”

The first thing you should discuss with your insurance representative is the type of coverage you require. Motorcycle insurance is available in a variety of forms, and which one you need will depend on the type of motorcycle you own, where you live, and how frequently you ride.

For example, if you own a newer motorcycle, you should probably get collision and comprehensive coverage, which will protect your vehicle if it is stolen or damaged in an accident.

“What’s the Process for Making a Claim?”

The next question you should always ask is what the process is for making a claim. This is crucial information because if you get into an accident, it’s important to file your claim immediately so that all you need to worry about is healing.

Your insurance agent can walk you through the process step by step so you know what to do if you ever need to use your insurance.

“Am I Eligible for Any Discounts Available?”

Many insurance companies will give you a discount if you take a motorcycle safety course, insure multiple bikes, or have a clean driving record. It’s always worth asking if you could save money by bundling your policies, as well.

Get Your New Motorcycle Insured Today

These three questions will ensure that you have the right motorcycle insurance for your needs. So, when you contact an agent, don’t forget to ask them.

Surety Ins Inc. in Alabama can assist you with all your motorcycle insurance-related needs. Give us a call today, and we’ll gladly provide you with a quote and help you find the policy that helps best protect you.

Boat Insurance FAQs

Posted on February 14, 2023June 21, 2023 by admin

Many people like to do recreational activities in the summer, such as boating, waterskiing, and swimming. With each activity, there are things you should do to keep yourself and your finances safe. One way to keep your finances safe when you are out on a boat is to have insurance. Surety Ins Inc is here to assist Alabama boat owners in getting vital coverage for their watercraft.

Here are some answers to popular questions about boat insurance:

What is not covered by boat insurance?

Boat insurance will not cover damage from insects, marine life, mold, general wear and tear, or maintenance.

How much coverage should you have on a boat?

Professionals recommend that you have at least $1,000,000 of liability for a power boat and a minimum of 100,000 for a small sailboat. The amount of insurance you need depends on several factors, such as the size of the boat, your assets, and your risk factors.

What types of coverage are typical in a boat owner’s policy?

The types of coverage offered in a policy depend on the insurance company, but several types of coverage are similar across the board. These include liability, personal effects, uninsured/underinsured, and comprehensive and collision.

What happens when insurance totals your boat?

If the insurance company totals your boat, they usually pay the actual cash value or the insured value. Whichever cost is lower is the one they will pay you.

Does boat insurance cover hitting a dock?

In most cases, boat insurance will cover damage to the dock if you hit it. You must check your policy, though, to be safe.

Give Us A Call

If you own a boat and need insurance for it, contact us at Surety Ins Inc. We are here to assist Alabama boat owners.

Should You Get an Umbrella Insurance Policy if You Have Car Insurance?

Posted on January 18, 2023June 21, 2023 by admin

Purchasing umbrella insurance from Surety Ins Inc can save you when a misfortune happens. Umbrella insurance offers a higher protection limit as compared to underlying traditional policies. Umbrella insurance is a powerful stand-alone burden coverage that offers additional limits to other chief policies like auto and homeowners insurance.

Acquiring umbrella insurance in Alabama leverages a policyholder by providing extra protection beyond covering your assets. Moreover, the litigious circle we flourish, especially in Alabama, prompts one to possess an attractive financial plan in the event a third party accords you with a shocking lawsuit.

Please contact our experienced agents at Surety Ins Inc today. Our professional representatives will assist in forging cemented umbrella insurance that will come in when your underlying protection is depleted.

Should You Get an Umbrella Insurance Policy if You Have Car Insurance?

It’s imperative to note that umbrella insurance won’t protect you against any imminent danger. Most Alabama locals believe that umbrella insurance functions as a stand-alone mitigation, which is not the case. Therefore, it’s important to understand the scope of umbrella insurance.

Exclusions of umbrella insurance include:

In availability of underlying coverage like car insurance: Umbrella insurance doesn’t work alone. It comes in to supplement other existing covers when they are depleted. This cover is supplemental rather than stand-alone protection. Moreover, the insurer will need you to achieve a specific policy limit on your auto or home insurance before allowing you to acquire umbrella insurance on top of it. One, if possible, should get umbrella insurance even when they already have car insurance to mitigate against such occurrences.

Other exclusions include:

Personal injuries
Property loss, damage, or injuries resulting from specific instances like injuries caused by using or operating uninsured recreational vehicles or owning dog breeds that are not covered.
Damage to your personal items like furniture and appliances.
Criminal or intentional undertakings
Other damages or injuries resulting from your business operations.

Contact Us Today

Do you need extra financial insulation in Alabama, in addition to your current underlying auto or home coverages when they get depleted? Umbrella insurance may insure against instances such as slander, libel, and false imprisonment, which aren’t mitigated by other policies. Visit or call us at Surety Ins Inc today for more details about umbrella insurance.

Who needs flood insurance?

Posted on December 22, 2022June 21, 2023 by admin

Flood insurance is an important part of any homeowner’s insurance policy. If you live in a flood zone or have experienced flooding in the past, it’s crucial to make sure you have adequate coverage for this type of disaster. Flood insurance protects your home and its contents from damage caused by flooding, so if something happens, you can rest easy knowing that your investment will be protected. Surety Ins Inc. can help Alabama residents with this vital coverage.

There are a few things to keep in mind when buying flood insurance policies:

The first is that they are sold through private insurers rather than through the government, so you should make sure to shop around and compare rates before choosing one company over another. You also need to understand how much coverage you need – this will depend on the value of your home and what you want to be covered. Make sure that the policy you choose covers things like water damage to your foundation, which can cause very expensive repairs if not taken care of properly.

Finally, make sure that your policy is up-to-date – flood insurance needs to be renewed on a regular basis for it to continue providing coverage. Keep a close eye on the expiration date so that there aren’t any surprises when disaster strikes.

Contact Us Today

Flood insurance isn’t something most people think about often, but it’s an important part of protecting your home and its contents against natural disasters. By making sure you have adequate coverage, you can feel more confident that if something happens, you will be protected.

If you have any additional questions about flood insurance and whether or not your home is protected, call Surety Ins Inc. today! We proudly serve the state of Alabama.

Condo Insurance for Landlords

Posted on November 21, 2022June 21, 2023 by admin

As a landlord with an Alabama condo, you should protect your investment. Condo insurance policies can give you peace of mind by knowing your property is fully covered in case of fire, theft, or other unfortunate events.

But what should you look for in a condo insurance policy? Surety Ins Inc. wants you to be informed when selecting coverage.

Here are some key components to consider:

Building Coverage

Whether insuring your own unit or the entire building, ensure that your policy covers the building itself from various perils, such as fire and vandalism. Your policy should also cover any additional structures associated with the building, such as a swimming pool or parking garage.

Personal Property Coverage

It’s also essential your policy covers personal property items like furniture and electronics in case of theft or damage. Make sure to inquire about specific coverage limits for each item.

Damage Protection from Neighboring Units

You should also ensure that your policy provides coverage for any damage incurred by neighboring units in the building. Most policies will cover sudden and accidental damage, but it’s important to read the policy details to ensure you are adequately protected.

Liability Coverage

Your condo insurance should also provide liability coverage if someone is injured on your premises or by your property. This can include medical costs, legal fees, and other damages related to the injury.

Contact Us Today

No matter what type of condo insurance policy you choose, ensure that it includes all the coverage points outlined above. Researching and understanding your policy requirements can help protect your investment for years to come.

At Surety Ins Inc., we understand protecting your rental property is of utmost importance. Contact us today to find out how we can help you get condo insurance coverage for your Alabama property.

Do You Need Supplemental Car Insurance in Alabama?

Posted on October 4, 2022June 21, 2023 by admin

At Surety Ins Inc, we often get asked if customers need to buy supplemental car insurance, beyond the state minimums, when they’re insuring their vehicles in Alabama. While it’s not legally required in the state, we generally recommend that our clients purchase supplemental insurance. Here’s a closer look at why this coverage may be a wise investment.

What Supplemental Insurance Covers

Supplemental car insurance, also known as excess liability coverage, pays out when you’re involved in an accident and it’s determined that you’re at fault. If the damages caused exceed your standard policy limits, your supplemental insurance will cover the additional costs up to your policy limit.

This type of coverage is important because even a minor accident can result in expensive damages, especially if there are injuries involved.

Certain Types of Accidents Almost Always Exceed State Minimums

There are certain types of accidents that almost always exceed state minimums. For example, if you hit a high-end vehicle or cause an accident that injures multiple people, you could easily be looking at a hefty bill.

If you don’t have enough coverage and are found to be at fault for one of these types of accidents, you could be on the hook for paying the difference out of your own pocket—and that’s something nobody wants to deal with.

How Much Does Supplemental Insurance Cost?

The cost of supplemental car insurance varies depending on a number of factors, including the value of your vehicle, your driving history, and the limit you choose. However, it’s generally very affordable. When you compare that to the peace of mind it offers, we think it’s well worth the investment.

You Need Supplemental Car Insurance

While supplemental car insurance isn’t required by law in Alabama, we highly recommend that our clients purchase this type of coverage. It offers valuable protection in the event of an accident and can save you a lot of money if you’re ever found to be at fault.

If you have any questions about supplemental car insurance or would like to get a quote, Surety Ins Inc would be happy to help. Contact us today to speak with one of our experienced agents.

What coverage can I expect with commercial insurance?

Posted on September 29, 2022June 21, 2023 by admin

Owning a business has continued to be a dream for many people. If you are an aspiring entrepreneur in the state of Alabama, there will be plenty of great opportunities for success. If you are going to invest in a business here, you will want to ensure you select an ideal insurance plan to cover your organization. One of the best ways you can do this is by getting a commercial insurance policy. You can expect to receive various forms of coverage from a commercial insurance plan.

Get Coverage For Your Business

Liability Mitigation

One type of coverage you can expect to receive from a commercial insurance plan is support to mitigate your liability risk. There is always a chance that a business can be held liable for losses incurred by a customer, employee, or other individuals. If you are properly insured, it can help provide support in these cases. This will give you comfort knowing you have financial protection that can help protect your business.

Cover Assets

You also want to have commercial coverage to cover your assets. A business that invests in any type of asset will want to know that it is covered in the event of a fire, theft or other types of loss With commercial coverage, you will have the support that can ensure you have the capacity to replace or repair important assets.

Give Us A Call

Anyone that wants to invest in a commercial insurance policy should call the team with Surety Ins Inc. in Alabama. If you are going to purchase this coverage, Surety Ins Inc. will give the support you need to build out an ideal policy and plan. When you speak with the professionals here, they will offer any support needed to ensure you know your options and needs, which will help support your company.

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Who are the Named Parties in a Surety Bond?

What is the Purpose?

Types of Surety Bonds

Contract Surety Bonds

License & Permit Bonds

Court Bonds

Commercial Bonds

Contact a Leading Surety Bond Provider Today

Is Your Renters Insurance Providing Adequate Coverage?

Looking For Insurance In Alabama?

The following are the four coverage requirements for any RV insurance policy:

Collision Coverage

Complete protection

Liability

Personal belongings

Get Insurance Coverage For Your Vehicle Today

Here are three important questions to ask:

“What Type of Coverage Do I Need?”

“What’s the Process for Making a Claim?”

“Am I Eligible for Any Discounts Available?”

Get Your New Motorcycle Insured Today

Here are some answers to popular questions about boat insurance:

What is not covered by boat insurance?

How much coverage should you have on a boat?

What types of coverage are typical in a boat owner’s policy?

What happens when insurance totals your boat?

Does boat insurance cover hitting a dock?

Give Us A Call

Should You Get an Umbrella Insurance Policy if You Have Car Insurance?

Exclusions of umbrella insurance include:

Other exclusions include:

Contact Us Today

There are a few things to keep in mind when buying flood insurance policies:

Contact Us Today

Here are some key components to consider:

Building Coverage

Personal Property Coverage

Damage Protection from Neighboring Units

Liability Coverage

Contact Us Today

What Supplemental Insurance Covers

Certain Types of Accidents Almost Always Exceed State Minimums

How Much Does Supplemental Insurance Cost?

You Need Supplemental Car Insurance

Get Coverage For Your Business

Liability Mitigation

Cover Assets

Give Us A Call

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