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Get guaranteed protection for large investments with a surety bond.

Our bond program.

Our success is rooted in our commitment to our clients to provide more than just a bond, but an understanding of your business plan and the construction of a bond program to accomplish your goals. We proudly can trace our longest continuous construction client relationship back to the 1940s. We would not be able to accomplish this without our unique team approach. We are structured differently than most brokers because we are not a group of individual producers with their own clients. We are a team that is responsible for servicing all McConkey clients.

Small commercial and small contract bonds.

Qualifying for small commercial and small contract bonds does not have to be difficult. We are here to make the process easier by adding Propeller, an online platform that allows bonds to be printed and paid for in the comfort of your office or home quickly to give you back some time in your busy day.

Common bonds that are available through the online portal are, but not limited to:

  • “Small” Contract
  • Notary
  • Court & Fiduciary
  • BMC-84 Freight Forwarder or Broker Bonds ($75,000)
  • License & Permit
  • Miscellaneous
Find Your Bond Here

Our surety bond team strives to make the process of obtaining a bond be a painless process. Should you have any questions at all, please reach out to Lindsey Holby.

When would a surety bond be necessary?

A surety bond is an unusual form of insurance in that one person or organization pays for it, while another receives the benefit. It’s easier to understand with an example. Imagine a contractor is building a new office building for a government agency. The agency naturally wants a guarantee that the taxpayer won’t be left paying out of pocket if the contractor fails to deliver the offices as promised.

How do surety bonds work?

The answer is a surety bond. The contractor pays a premium to an insurer to purchase the surety bond. The insurer then pays the necessary compensation to the agency if the contractor fails to deliver. The big difference between this and ordinary insurance is that the insurer can and will go after the contractor to get this money back. The point of the surety bond is that the agency gets the assurance that it won’t have to chase after the money itself. Here are some examples of the different types of surety bonds:

  • Bid Bonds
  • Court Bonds
  • License and Permit Bonds
  • Fiduciary Bonds
  • Miscellaneous Bonds
  • Payment Bonds
  • Performance Bonds
  • Public Official Bonds
  • Warranty Bonds

The difference between the principal and the obligee.

While government agencies commonly insist on a bond, it can work with any two organizations. The one that purchases the bond is the principal, while the one that gets any payout is the obligee. If the principal fails to perform the work they are bound to complete, the obligee is compensated for financial loss or may be able to get another contractor to complete the project.

If there’s anything else you need to know about surety bonds, contact us to learn more.

Find Your Coverage

We’re here to help you explore your coverage options.

Request Information

Contact McConkey Insurance & Benefits

Email Us
 717-755-9237 fax

Let’s Get Started

  1. Step 1Fill out the form.
  2. Step 2Review your options with us.
  3. Step 3Get the coverage you need.

Surety Bond Information Request

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