Pet sitters become bonded when their employers purchase fidelity bonds. Bonds can be purchased through many insurance agencies and bonding companies. Fidelity bonds are designed to protect employers and clients from employee dishonesty.Continue Reading
The first step to purchasing a bond is choosing a bond or insurance company. Applicants can compare prices at different agencies and select those that best fit their budgets and needs. The bonding company needs to know all services that the company provides so that it may give the most accurate premium quote.
The application seeks basic information, such as the company name and the names and Social Security numbers of each employee. Employers must choose the amount of coverage needed by estimating potential losses. Once an application is approved, the applicant receives a copy of the bond to distribute to clients. Most insurance and bond companies allow premium payments by month, quarter or year. The employer is now protected and all employees are bonded.
Fidelity bonds are the type of bonds that small, in-home service businesses use. Bonds protect employers from losses due to employee theft or negligence. Because bond protection covers losses to the employer and clients, individual pet sitters typically do not need them.Learn more about Career Aspirations