If you operate or plan to start a janitorial company or house cleaning service, you may have discovered that many of your prospective clients want or even require you to have a janitorial service bond. If you’re unfamiliar with the subject, Bob Shropshire Bail Bonds, the leading seller of bonded insurance in Cincinnati, OH, explains below what this type of bond is for and how to determine the amount you require.    

What Is a Janitorial Service Bond?

A janitorial service bond is an insurance product that protects you and your clients in the event one of your employees behaves dishonestly while on the job. Even though you trust those you hire, theft and fraud are not unheard of, and it can be difficult for small business owners to learn all there is to know about their staff. The bond reassures clients that their interests are safeguarded and gives you peace of mind. This product only applies to direct employees, not subcontractors, and does not cover accidental property damage—for this, you need regular business liability insurance. 

How Much Do You Need?

The amount of the bond depends on the size of your business, the types of jobs you handle, and the value of your clients' belongings. For businesses just starting out, a $5,000 bond costs around $100 per year, while a $10,000 bond costs a bit more. If you're trying to land bigger clients, a bond of $100,000 is not out of line. This means you and your clients are protected against losses or thefts of up to $100,000. Your cost for this service depends on the number of employees you have—five or fewer, and the price should be $300 to $400. But, if you have 20 or more, the cost could double.

Bob Shropshire Bail Bonds is the premier seller of bonded insurance and bail bonds in Cincinnati, OH. They can walk you through the purchase of a janitorial service bond and secure you an amount that fits your budget and needs. Visit them online for contact info or call (513) 721-3915 to discuss your options.