Skip to Content

Category Archives: Uncategorized

Delaware Surety Bonding

What Is A Surety Bond? | This post brought to you by: Travelers Insurance

Surety bonds are designed to guarantee performance in the face of a set of particular risks. Each surety bond must be uniquely tailored to meet specific needs. Commercial Insurance Associates provides surety bonding for contractors in Delaware, Maryland, Pennsylvania, New Jersey, Virginia, Florida, and many more states.

A surety bond is an agreement under which one party, the surety, guarantees to another party, the obligee, the performance of an obligation by a third party, the principal.

The most common types of surety are:

Contract Surety Bonds
Contract Surety Bonds are bonds that the government or an owner of a construction project may require a contractor to obtain. If you are bidding a job for DelDOT, New Castle County, or any local government, you will need a contact surety bond. There are three types of contract surety bonds:

  • Bid bond – Affords protection to a project owner (obligee) in the event a successful bidder will not enter a contract and will not provide the required surety bonds or other security.
  • Performance bond – Provides protection to the obligee if the contractor defaults on its obligations under the bonded contract.
  • Payment bond – Guarantees that the contractor will pay subcontractor, labor and material bills associated with the construction project.

Commercial Surety Bonds
Commercial Surety Bonds are required of individuals or businesses by the government, legislation or by other entities. Commercial Insurance Associates provides the following types of commercial surety bonds:

  • License and permit bonds – required by state, municipal or federal ordinance or regulation. These bonds may be required as a condition for engaging in a particular business or exercising a particular privilege. Examples include performance and payment bonds, customs bonds, tax bonds and warehouse bonds.
  • Fiduciary bonds – required of those who administer a trust under court supervision.

Who Needs a Surety Bond?

Contractors licensed in the following Delaware municipalities are required to be bonded in order to renew their license:

  • New Castle County, Delaware
  • Newark, Delaware
  • Elsmere, Delaware
  • Wilmington, Delaware
  • Rehoboth Beach, Delaware
  • Many more!

If you are doing residential or commercial construction in Delaware, you are almost guaranteed to need a surety bond at some point in your career. Let us be your bonding experts.

Commercial Insurance Associates has access to bond markets all over Delaware, Maryland, Pennsylvania, and more. Do you need to renew your contractors license? Are you pulling permits for a local government? If you are a contractor who bids government jobs, have you shopped your bond rates recently? Give us a call at 302-286-7901 to learn more about our surety bonding services.

0 Continue Reading →

Staying Safe on New Year’s Eve 2020

The holiday season is the time of the year when everyone relaxes, unwinds, and meets with friends and family.  When it comes to New Year’s Eve, many people like to head out and party.

Unfortunately a fun night out can turn into a disaster for those who do not have safety on their minds, especially when it comes to operating a motor vehicle.  Speeding, aggressive driving, and driving under the influence are all common factors in December 31st insurance claims.  In fact, the average number of fatalities resulting from alcohol related accidents rises by 34 percent between Christmas and New Years.  That is certainly not how your want to ring in your 2020!

Here are some tips for you to have an awesome and safe New Year’s Eve:

Stay In

Why spend your New Year’s Eve waiting in line at a nightclub when you can have an amazing time in your own home?  Have a quiet night in watching the ball drop on television.  If you do have guests over, invite them to spend the night if they plan on drinking.  This will ensure that no one gets involved in any road accidents that could result in hefty insurance claims and risk everyone’s lives.

Call an Uber

Heading to a restaurant, bar, or nightclub?  How about a party hosted by a friend or family member?  If you don’t plan to stay over and you intend on having a few drinks, then just call a cab/taxi.  Nowadays with your smartphone, you can easily call an Uber to pick you up and drop you off.  Alternately, you can do the same for friends who have had too much to drink and send them back safely to their home.

Be the Designated Driver

If you are out with your friends it doesn’t hurt to be the designated driver. It doesn’t matter whose car you drive, as long as you are the sober one at the end of the night.  You have to wake up in the morning and feel the new year sunshine and that can only be possible if you drive safely the night before.

Know When to Stop

It can be difficult to stop drinking, especially when you are out celebrating.  But it’s better to limit your alcohol intake so that you don’t end up doing something you regret.  Your 2020 should not begin with embarrassing photos of you  circulating around the Internet, or worse yet, you or someone else ending up in the hospital from a motor vehicle collision.  Drunk driving is no joke!

The most obvious reason not to drive drunk is because it puts you and everyone around you in danger.  Even if you were to cause a minor accident with no injuries, you will likely still damage your car and someone else’s.  Not to mention the police will arrest you and charge you with a DUI.  None of these outcomes are worth it, and they will wreak havoc on your auto insurance rates.  We at Commercial Insurance Associates support driving safe and sober this New Year’s Eve!

Commercial Insurance Associates, Inc.
13730 Cypress Terrace Circle Suite #403
Fort Myers, Florida 33907
(239) 437-5003

260 Chapman Road Suite 100-B
Newark, Delaware 19702
(302) 286-7901

1547 New London Road
Landenberg, Pennsylvania 19350
(610) 255-5200

22 North Church St
West Chester, Pennsylvania 19380
(610) 436-4608

Additional locations in Rehoboth Beach, Delaware & Townsend, Delaware!

0 Continue Reading →

Hello world!

Welcome to WordPress. This is your first post. Edit or delete it, then start writing!

0 Continue Reading →