HC Insurance Group

09/11/2023

01/25/2022

Find Local Deals on Nextdoor, the neighborhood hub.

12/25/2021

Merry Christmas to all. May today be merry and bright.

07/30/2021

Olivia and Genna Gentry are the Great Race 2021 champions, leading a much-more experienced field with skill beyond their years.

07/02/2021

Happy 4th! -

Please be aware our offices will be closed for in person appointments on Monday, July 5th, but you can still reach our dedicated service lines at 719-301-1300 option 1 or text us with questions.

06/16/2021

When a home is not in use by its owner, special precautions need to be made to avoid issues with vandalism, theft, and other risks. Use these tips to help your clients protect their property, even when no one is living there.

06/16/2021

Professional liability is a coverage not worth going without.

03/18/2021

Call or text us anytime! 719-347-5058

Please note that we are in the actual office on Tuesdays and Thursdays 9 am to 3 pm, but available to you anytime by phone, text, messenger, and email.

We are out in the field Mon, Wed, Fri and weekends.

03/18/2021

CALL OR TEXT US TODAY FOR YOUR BOND NEEDS:

719-301-1300

How Long Does It Take To Get A Surety Bond?
by BondPro, LLC

Even though there are plenty of types, surety bond is an assuring agreement between three parties.

The parties are the principal (bond applicant), the obligee (project owner/client) and the surety (bond issuer).

Simply put, surety bonds protect obligees from cases of fraud, penalties and abuse.

The most common types of bonds used in the United States fall under the license bond category.

These bonds ensure that the bonded principal will fulfill all requirements of a project, while adhering to state laws, regulations and building codes (in case of construction projects).

In the construction industry, surety bonds guarantee that the principal (contractor) will do the job precisely as outlined in the initial contract. In case the contractor fails to keep up his part of the deal, the surety will be liable to compensate the obligee for all damages incurred.

How Long Does It Take To Get A Surety Bond?
The amount of time—from the application to the issuance—depends on a number of factors: the category of bond as well as the promptness in premium payment.

However, most bonds don’t take long. In fact, once you apply through an online application, the bond is issued within three days after the payment and a verifiable copy of the contract is received.

Why Is Your Surety Bond Taking Long?
If your surety bond is taking longer than you expect, there could be more than a few reasons behind the delay. In most cases, the delay is because the application is sent for manual underwriting.

When you apply for a bond, it is sent to an Automatic Underwriting System; however, if it takes longer the computer may be seeking the opinion of a human underwriter by forwarding it for manual underwriting.

Why Has Your Application Been Sent To Manual Underwriting?
Again, there could a number of factors that include, but are not limited to:

Poor credit scores are among the most common reasons why applications are sent to manual underwriting. If the credit score is below 650, the automated system will consider this as bad, thereby sending the application for manual review.
You may have answered yes to one of the application questions that included:
If you ever had a bond pay for you
If you have ever filed for bankruptcy
If you have ever owned a failed company
If you have ever been convicted of criminal activities
However, manual review doesn’t necessarily mean that the bond wouldn’t be approved. It just means that approval could take a bit longer.

11/25/2020

Hello everyone! We hope that all of you have a very safe and fun Thanksgiving tomorrow! We will be back and ready help you find that perfect policy!

11/03/2020

**Big News!**
Insurance.Buzz and HC Insurance Group are now a team! We've partnered together to help make shopping for insurance easier for YOU! Don't wait, reach out today and get the coverage you need!

10/30/2020

We hope everyone has a great Halloween and you all stay safe and have fun!