Corporate & Personal Bonds In Massachusetts

Commercial Bonds Overview

Many businesses including general contractors, electricians, plumbers and other subcontractors, as well as attorneys or notaries public, require commercial bond coverage. At Phil Richard Insurance, it is our main priority to find the right types of commercial bonds that fit the needs of your business you have worked so hard to build.

On the personal side, bonds may be sought for legal, investment and estate purposes. Phil Richard Insurance has experience providing bonds through a wide array of national companies to meet your individual and commercial bond needs. We will walk you through the requirements, necessary steps to take, getting a competitive quote, and even applying for the bond! Take a look below at some frequently asked questions about commercial and personal bonds.

Key Facts On Commercial Bonds

  • A commercial bond is a type of liability coverage for employers who want to protect themselves against losses resulting from dishonest employees.

  • A commercial “blanket” bond policy provides coverage for all of an employer’s employees.

  • These bonds are valued up to a maximum amount for any single loss, regardless of the number of employees involved. This also applies if the business owner is not able to determine the number of guilty employees.

Frequently Asked Questions

Are there different types of commercial bonds?
Yes, there are as many bonds available as there are industries. Here are a few examples:

  • Contract Surety: For contractors
  • Special Risk: For the securities industry
  • AG Dealer: For the agricultural industry
  • ARC: For the airline industry
  • Liquor: For those selling, manufacturing and warehousing alcohol
  • Title: Known as Certificate of Title bonds required when registering a vehicle.
Why does my business need a commercial bond?
Commercial bonds are generally required by state and federal laws and statutes.
Corporate and Personal Bonds Service Area
Phil Richard Insurance, located in Danvers, MA, offers Corporate and Personal Bonds to businesses in the North Shore of Massachusetts including but not limited to Danvers, Peabody, Beverly, Salem, Newburyport, Ipswich, Rockport, Gloucester, Marblehead, Swampscott, Amesbury, Georgetown, Lynnfield, Middleton, Hamilton, Wenham, Greater Boston Area, and more. We also serve New Hampshire, Connecticut, and Maine.

See what our clients have to say:

I Just wanted to tell you how much I enjoy working with Jackie Montes. She’s the best! She’s efficient, professional, and always on the ball. It’s a pleasure to deal with her!! She has helped me out tremendously with getting all our insurance requirements for the Compliance Depot (nightmare!) and I can always count on her to get my COI out in a timely manner. I never have to worry about anything when I deal with her.

Excellent staff member!!

Tina W. April 19, 2017

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The last piece of the puzzle?

You need an agent you can rely on.

Everything you’re working for needs to be adequately protected, otherwise that second home or retirement may be out of the question. We find having an agent you trust is often an afterthought, but it should be the first one. It can make or break your business.


If you have any questions on your coverage, we will help you. We offer competitive products for many industries including Condo Associations, Non-Profits, Artisan Contractors, Restaurants, Auto Body Shops, Gas Stations, and more. Talk to us about your small business today.

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27 Garden Street

Unit 1B
Danvers, MA 01923




Office Hours

Monday: 9am – 4:30pm

Tuesday: 9am – 4:30pm

Wednesday: 9am – 4:30pm

Thursday: 9am – 4:30pm

Friday: 9am – 4:30pm

Sat – Sun: Closed




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