Surety Bonds
What Is a Blanket Bond for Contractors?
A blanket bond (or fidelity bond) protects you against losses from employee theft or dishonesty — different from performance or license bonds, which protect third parties against your default.
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What is a blanket surety bond?
Blanket bonds (formally ‘commercial blanket bonds’ or ’employee dishonesty bonds’) protect your business from theft by your own employees. If an employee steals cash, tools, or property, the blanket bond covers the loss.
This is the opposite of a performance bond: a blanket bond protects you (the contractor), while a performance bond protects the obligee (project owner or licensing board).
Blanket bonds are relatively inexpensive — typically $300–$800/year for $25,000–$100,000 in coverage. They’re worth considering for contractors with multiple employees who handle cash, materials, or valuable equipment.
Need a surety bond fast?
Trade Safe helps contractors get bonded same-day in most cases. We work with multiple surety markets to find the best rate for your situation.