2007-03-09 03:21:15 · 6 answers · asked by Clarkie 6 in Business & Finance ➔ Insurance
You don't know.
Typically, a bond will pay an "obligee", probably the employer, up to the amount shown, for any criminal action she does that makes them lose funds.
But you aren't going to know EXACTLY, unless you read it.
Normally, you need to press charges - and it must be criminal. Accidentally breaking your Ming vase is NOT going to be covered. Mysterious disappearance is NOT going to be covered.
That's why I generally tell the homeowner AND the cleaning service, bonds are TYPICALLY a waste of your money, because they don't do what you THINK they do.
2007-03-09 03:53:13 · answer #1 · answered by Anonymous 7 · 1⤊ 0⤋
when someone tells me that their employees are licensed and bonded, I think ... ok.. that means they spent $50 for a biz lic.and he got a bond on his employees so that if anything goes missing at my home and I press charges... he's protected, because the odds are.. he's the obligee.
I would much rather have a certificate of insurance with me shown as an additional insured., or have a bond issued with me as the obligee., even then, with a bond, you must prosecute, mysterious disappearance isn't covered.
i would just prefer a certificate of liability ins. But that's me.
2007-03-10 22:30:38 · answer #2 · answered by larsgirl 4 · 0⤊ 0⤋
Well being bonded or having a person in ur home that is bonded is like having insurance. If u believe items are stolen the co. that bonded the employee will have to pay for these things.
2007-03-09 11:27:19 · answer #3 · answered by luminous 7 · 0⤊ 0⤋
It's kind of like knowing the house cleaner is "certified"...it's a "peace-of-mind that the worker is not a derelect" assertion. It's also knowing that THEY are insured, so that YOUR homeowners insurance doesn't wind up having to pay for their screw-up, should one occur.
2007-03-09 11:26:44 · answer #4 · answered by bradxschuman 6 · 0⤊ 0⤋
It means she should be bonded and insured so you can file a claim with her bond agency if she steals something of yours. You can't file a claim if she does a poor job, but if something of value is stolen, you can get your money back.
2007-03-09 11:25:03 · answer #5 · answered by pockety 3 · 0⤊ 0⤋
If there s a theft or problem. Her fingerprints are on file. If the police investigate and her fingerprints are found where they shouldn't be, it makes it easier to prosecute.
2007-03-09 11:24:13 · answer #6 · answered by Kevin M 3 · 0⤊ 0⤋