Keeping Your Claims History Clean
Risk Management Guide for Janitorial, Maid, & Cleaning Services

Chapter 2: Understanding Cleaning and Janitorial Insurance Policies
Part 3: Essential Coverages for Maids, Janitors & Other Cleaning Professionals
Janitorial Bonding Insurance / Employee Dishonesty Bonds

Janitorial Bonding Insurance protects your business when an employee commits a dishonest act, such as stealing from a client. When such an event happens and your business is held legally liable, your bond pays your clients for the damage (up to your bond limit).

Bonds differ from other insurance policies in that they are a contract between three parties as opposed to two. The bond exists between…

  • The surety provider (the insurance company that issues the bond).
  • The principal (you, the bondholder).
  • The obligee (your client).

While other insurance policies benefit you, the policyholder, bonds benefit the third party for whom you perform services. You pay for the coverage, but in the event of a claim, the third party receives the benefits. And unlike an insurance policy, you'll eventually have to pay the damages back to your surety provider.

So why carry the coverage? Though you don't receive direct benefits in the event of a claim, having an Employee Dishonesty Bond can help you establish trust with potential clients. Once prospects know that you are bonded, you're more likely to gain their business over a cleaning company that isn't bonded.

The bond signals that you're looking out for your clients' best interests and that they can trust your company with their valuable items.

Next: Chapter 2.4: Insurance Endorsements for Cleaning Professionals

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Keeping Your Claims History Clean: A Risk Management Guide
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