SERNA INSURANCE SERVICES
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Insurance Bonds

If you need an insurance bond to bid on or get hired for a new job call us. We're insurance bond experts and we'll get it taken care of you... Fast!

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What is an Insurance Bond?

An insurance bond ensures contract completion in the event of contractor default and are typically required by project owners when seeking a contractor to fulfill a contract. 

The contractor obtains a bond so the insurance company is obligated to compensate the project owner for the financial loss incurred if the work is not completed. ​

Typical Insurance Bond Types

Although there are many types of insurance bonds, the four most common types needed by business owners are:
  • Bid Bond - Ensures the bidder on a contract will enter into the contract and furnish the required payment and performance bonds if awarded the contract.
  • Payment Bond - Ensures suppliers and subcontractors are paid for work performed under the contract.
  • Performance Bond - Ensures the contract will be completed in accordance with the terms and conditions of the contract.
  • Ancillary Bond - Ensures requirements integral to the contract, but not directly performance related, are performed.


Contact us to learn more about the right insurance bond for you.
(815) 274-0012
1802 N Division Street
Suite 310
Morris, IL 60450​​
Click Here to Email Us
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Serna Insurance Services
1802 N Division Street
Suite 310
Morris, IL 60450​
(815) 274-0012
Click Here to Email Us

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Homepage Banner Credit: IL 47 in Morris by Adam Moss (CC BY-SA 2.0)  |  Website by InsuranceSplash
  • Home
  • Quotes
    • Auto Quotes >
      • Auto Insurance Quote
      • Boat Insurance Quote
      • Classic Car Insurance Quote
      • Motorcycle Quote
    • Property Quotes >
      • Home Insurance Quote
    • Business Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Insurance Bond Quote
      • Workers Compensation Quote
    • Other Quotes >
      • Umbrella Insurance Quote
  • Service
    • Report a Claim
    • Policy Review
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
  • Insurance
    • Vehicles >
      • Auto Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Motorcycle Insurance
    • Property >
      • Home Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Insurance Bonds
      • Workers Compensation
    • Other >
      • Umbrella Insurance
  • About
    • Client Testimonials
    • Refer a Friend
    • Insurance Carriers
    • Accessibility Statement
  • Contact