Why Should You Consider Employee Dishonesty Bonds in Los Angeles?

by | Oct 10, 2019 | Insurance

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As a business owner, you can choose from many types of bonds that can help protect your company. One you may want to look into is an employee dishonesty bond. This type of bond can help protect your company from dishonest acts by employees.

What Does This Bond Cover?

The typical coverage offered in bonds to keep you safe from the actions of unscrupulous employees includes protection from fraud, embezzlement, forgery, and theft by employees. If one of your workers steals money or merchandise from your company, the bond will help cover the loss. You’re also covered by the bond if your company suffers any losses as a result of fraud committed by an employee.

Why to Consider This Type of Bond

Deciding whether you should purchase a bond to cover you in cases of employee dishonesty can be difficult. There’s always a chance that you could be paying for something that you may never use, and you may not want to spend unnecessary money. It’s not legally required to purchase. However, if your company experiences losses caused by an employee committing theft, fraud, or any type of dishonest acts, your company could potentially lose much more than the cost of the bond.

How to Get an Employee Dishonesty Bond

You may be wondering how or where you would purchase an employee dishonesty bond. First, you need to determine the level of coverage you need for your company. This includes the appropriate dollar amount as well as which types of events will be covered. Next, you will need to apply for the bond.

Your insurance or bond company can help you decide on the best option for coverage against employee dishonesty. Without proper coverage, your company risks potentially losing a large amount of money. To purchase a policy or get more information about this type of coverage, contact JR Olsen Bonds & Insurance, Inc., in Canoga Park, CA, at www.jrolsenbonds.com

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