Bond insurance certifies that your company will fulfill the terms of a contract. If you fail to do so, the person or entity holding the contract (known as "the obligee") can file a claim with the surety against the bond to recover their losses.
It's common for construction businesses to have bond coverage. You can refer to Understanding insurance terms: Bonded and insured to learn more about bond insurance, surety bonds, and bonding.
NEXT doesn't offer bond insurance at this time. Visit nextinsurance.com for a full listing of the coverages we offer.