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A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. The term is also used to denote a collateral deposit of good faith money , intended to secure a futures contract , commonly known as margin .
Let's look at an example: If you're paying $1,500 annually for car insurance and qualify for a 25% telematics discount through safe driving habits, you'd save $375 per year.
A surety bond is defined as a contract among at least three parties: [1] the obligee: the party who is the recipient of an obligation; the principal: the primary party who will perform the contractual obligation; the surety: who assures the obligee that the principal can perform the task; European surety bonds can be issued by banks and surety ...
This coverage, however, cannot apply to rental cars because the insurance company does not want to assume responsibility for a claim greater than the value of the insured's vehicle, assuming that a rental car may be worth more than the insured's vehicle. Most rental car companies offer insurance to cover damage to the rental vehicle.
Mature drivers can often snag lower car insurance premiums and access special discounts that can put hundreds back in your wallet each year. Learn 8 proven ways to maximize savings on auto ...
Your car insurance typically covers family members and friends who infrequently borrow your car, but understanding the coverage limits helps protect you from unexpected costs.
In the mid 20th century it was one of the larger employers in the city. It was also the national leader in the area of small, miscellaneous fidelity and surety bonds. The company's unique approach focused on service and convenience. The Kirby family sold the business in 1992 [3] and it is now part of CNA Surety.
Myth #2: Red cars cost more to insure. One of the most persistent myths about auto insurance is that insurance companies charge more to insure red cars.