How to Get Fidelity Bonded in Georgia

Being fidelity bonded can save you money in the case of employee theft.

Theft by employees can be detrimental to your business. If enough money is stolen, you could go out of business. The state of Georgia offers fidelity bonding; a form of insurance against employee theft. Fidelity bonds are available through private companies throughout Georgia. These bonds are similar to other types of insurance: you pay a monthly premium and receive compensation if an event occurs that is covered by the policy.

Instructions

1. Research bond companies. In Georgia, dozens of private companies offer fidelity bonds. Compare pricing, compensation for covered losses and the location and accessibility of the companies. Learn which kinds of employee dishonesty are covered under the policy. Companies doing all of their business in Georgia (versus national companies) offer more detailed information about the state's bonding process.

2. Contact a representative at the bonding company you choose to ask questions. If the company has offices in Georgia, you can visit an office close to you and ask questions in person.

3. Fill out an application with the bonding company you've selected. There are many different types of security bonds, but usually only one type of application for fidelity bonds. The application typically asks for the company owner's name, contact information and where the business is located.

4. Wait for the company to accept your application and to contact you regarding a policy. If the price quote meets your expectations, agree to a fidelity bond. If not, ask the bonding company representative how to lower the cost.

5. Make all bond payments on time.

References

• Viking Bond Service, Inc.: Surety Bond Types
• TWS: Georgia Surety Bonds
• SuretyBonds.com: Georgia Surety Bond Types
• Ameribonds: Online Secure Application