Amount of Coverage

[Bond Magician]

I am applying for a fidelity bond. If I choose $100,000 as my amount of coverage, does that mean that the surety company will pay out that amount if something is stolen? How do I know which amount of coverage is right for me?

[Surety Queen]

Originally Posted by Bond Magician

I am applying for a fidelity bond. If I choose $100,000 as my amount of coverage, does that mean that the surety company will pay out that amount if something is stolen? How do I know which amount of coverage is right for me?

The amount of coverage is a decision that you have to make. We have coverage amounts of $5,000 up to $100,000 under the basic employee dishonesty coverage. Larger amounts are available but under different application processes.

Yes - if you have a $100,000 bond and you sustain a loss of that amount, the bond will cover it. Keep in mind that certain exposures will require a conviction in a court of law before the bond will pay out.