Good Credit vs Bad Credit

[Tacoma]

We have two owners in our company and one has great credit and the other is pretty bad. Do we "have to use" both people's credit or can we base the premium on just the one with the great credit?

[Admin]

Some bonding companies will underwrite based on the lower score, while other bonding companies will take the average of the two. Either way, the surety is going to look at any owner with over 5% interest in the company. If you reduce the one owners percentage you could get around it. However you will want to make sure you take the steps to do so and not just write it on the bond application, as it would be considered insurance fraud otherwise.