What Is The Difference Between Insured And Bonded? - InsuranceGuide360.com

What Is The Difference Between Insured And Bonded? Understanding the terms "insured" and "bonded" is crucial for financial protection and security in both personal and business contexts. Insured individuals or businesses have coverage against potential risks like property damage and liability through insurance policies. On the other hand, being bonded ensures that a company fulfills its obligations through a contract involving the principal, obligee, and surety. While insurance protects against losses, bonds offer protection against non-performance. Learn more about these distinctions to make informed decisions about your financial security and risk management strategies.
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