Bonds
for Oregon Businesses
Does your business need a bond? LaPorte can help! In addition to offering a wide selection of commercial insurance and employee benefit solutions, we offer surety bonds for Oregon businesses.
Surety Bonds
We offer a wide range of surety bond solutions to meet the needs of businesses across the Northwest, including:
- Contract Bonds
- ERISA
- Commercial Bonds
- Crime Insurance
- Subdivision Bonds
- Maintenance Bonds
- License, Permit, & Miscellaneous Bonds
- Probate Bonds
- Bid/Performance & Payment Bonds
- Court Bonds
- Fidelity Bonds
- Supply Bonds
Your Risk Management Partner
Bonding and insurance requirements can be complex and difficult to navigate. Without the right guidance, missteps may leave you or your business vulnerable to uncovered losses, regulatory violations, or costly delays. That’s where LaPorte can help.
As a full-service insurance agency, we take the time to understand your business and its unique exposures. Our experienced team will work closely with you to identify potential risks, evaluate your bonding and insurance needs, and ensure compliance with contractual obligations. Through detailed project analysis and thorough contract review, we deliver clear, comprehensive advice to help you move forward with confidence.
Surety Company Access
Your One-Stop Shop
LaPorte can take care of your bonding, commercial insurance, and employee benefit needs. While we’re at it, we can also help you with your personal insurance needs. In addition to helping you secure the insurance and surety protects you need to protect your business and your assets, we offer resources to help you manage your risks. LaPorte clients can use INSource, a website loaded with resources and tools to help you take control of your risk management, compliance, and HR.
Oregon’s Largest Independently-Owned Agency
FAQs
01How is a surety bond different from an insurance policy?
An insurance policy is a two-party contract between the insurance carrier and the policyholder. In the event of a covered loss, the insurance carrier pays the claim.
A surety bond is a three-party contract between the principal (the business or contractor that purchases the bond), the obligee (the entity requiring the bond, such as a government agency), and the surety (the company that issues the bond). In the event of a loss, the surety company pays the claim and then seeks reimbursement from the principal.
Think of it this way: you secure an insurance policy to protect yourself, but you secure a surety bond to protect others and show that you will be able to pay for any losses for which you are responsible.
02If I have a surety claim, will I need to repay it?
03Who needs bonds?
04How much does a surety bond cost?
On the low end, a surety bond may cost as little as 1% of the bonding amount. However, you could end up paying more – possibly much more – depending on a variety of factors. Some of these factors have to do with the type of bond being issued. Other factors are related to your risk history, including your credit score or the financial strength of your company. You may be able to obtain less expensive bonds by improving your credit score.
