Bonding Solutions That Help Your Business Grow
Whether you're applying for a professional license or bidding on a major commercial project, a surety bond can be an essential part of doing business. Thompson-Hicks Insurance helps contractors, subcontractors, developers, auto dealers, public adjusters, and other professionals secure the bonds they need to meet licensing requirements and pursue new opportunities.
We work with competitive, treasury-listed sureties to streamline the underwriting process and help you obtain the right bond as efficiently as possible.
What’s the Difference Between A Surety Bond and an Insurance Policy?
While both help manage risk, they serve different purposes. An insurance policy protects the policyholder from covered losses by transferring risk to the insurance company.
A surety bond is a financial guarantee between three parties—the principal (your business), the obligee (the organization requiring the bond), and the surety (the company issuing the bond). If the surety pays a valid claim on your behalf, your business is generally responsible for reimbursing the surety.
Get the Right Bonds for Licensing and Contracts
Surety bonds are often required before businesses can obtain licenses, bid on public projects, or fulfill contractual obligations. Our team can help you obtain:
- License and Permit Bond
- Bid Bond
- Performance Bond
- Payment Bond
For many contractors, bonding is both a requirement and a pathway to growth. A strong surety relationship can open the door to municipal work, school district projects, and larger commercial contracts that may otherwise be out of reach.
Build Your Business With Confidence
At Thompson-Hicks Insurance, we understand that every project and profession has different bonding requirements. Our experienced team will help you navigate the process, secure the right bond, and position your business for future growth.
Contact us today to request a surety bond in Tyler, TX.