A janitorial bond (also known as housekeeping surety bond, maid surety bond, or residential cleaning surety bond) is used by cleaning businesses, whether commercial or in home. The bond is used as a form of protection for their customers, which reimburses them in the event an employee steals from them while cleaning.
With so much competition in the cleaning business, being bonded makes you more marketable by letting clients know you take your responsibilities seriously and can reimburse them should any accidents take place. Other ways being a bonded janitorial or cleaning business can help benefit your business include:
- Protecting your business should an employee steal. Even though you selected your employees carefully, and ran background checks on each of them, you can’t account for everything that may happen in the future. If an employee does decide to wrongfully steal from a client, your bond will help cover the cost of the theft.
- Helping you appeal to customers. Being bonded is a great marketing tool, and having your customers trust is vital to having a successful cleaning business. Whether you clean the inside of homes or commercial buildings, your customers want to know their personal belongings are going to be kept safe. Having a bond communicates to your clients that you take your obligations very seriously. Knowing that you’re doing all you can to keep your client’s private spaces protected, helps comfort customers.
- Letting you worry less. Unfortunately, you can’t guarantee that your business won’t be convicted of misconduct. However, having a janitorial bond in place enables you to worry less about what you would do financially should you ever have to face criminal charges.
- Safeguarding valuable items. If any employee accidentally breaks something in a customer’s home, your bond can help cover the replacement costs. This can be exceptionally helpful if you don’t have a lot of disposable money at certain times.
- Filling coverage gaps. Even though your general liability insurance covers many incidents, it doesn’t include losses due to employee theft. Having a janitorial bond will provide complete protection and fill in insurance coverage gaps.
Although certain factors are looked at such as how many employees you have, what kind of services you provide, and where your business is located, janitorial bonds are relatively affordable. The bond can be written up to $100,000 with immediate approval depending on a company’s headcount and requested coverage amount.
Work with a Bonding Professional
If you want your business to have additional credibility, you can pay an insurer to get your cleaning company bonded. Keep in mind, however, that all bonding companies are not the same. It’s important to work with an agent who has experience with janitorial bonding and can recommend an appropriate policy to ensure your business is protected no matter what type of situation should arise.
When filling out a bond application, you will need to include your business entity information, contact information, and financial information. After your application has been reviewed and approved by the bonding company, you’ll pay the bond fee and receive your bond certificate.
Janitorial bonds are voluntary, easy to get, and many times do not require a signed application. For questions or more information on how having bonds can help your business, contact IOA Bonds by calling us at 1-866-379-3151 or begin your quick and easy bond application on our website.