Surety Partner Program

Surety Partner Program2022-09-08T17:32:18+00:00

Welcome to Hiscox NOW® where you can quote and bind small business insurance online in minutes. Your client gets same-day coverage and we handle all the service and billing. It’s quick and easy, so you can write more business faster.

Quote and bind online in minutes

Quote and bind online in minutes

Quote and bind online in minutes

Quote. Bind. Done.

Select your existing wholesaler or get a referral.

Quote and bind online in minutes.

Hiscox handles all service and billing.

Commissions paid by your wholesaler.

Do I get the premium back?2022-06-20T17:57:10+00:00

No, the premium is not returned because it is a fee used to obtain the surety bond. This is a one-time charge and only costs a fraction of the security deposit.

What if there is a bond claim against me?2022-06-20T17:56:58+00:00

If you have caused damage or have unpaid rent, the property company has a right to be indemnified for any losses up to the bond amount. If your bond amount is $1,000, you can be subject to claims up to that amount. You will have to pay for these charges if you are liable.

What happens when I end my tenancy?2022-06-20T17:56:49+00:00

If no damage or unpaid rent has accrued, your obligations under the bond are completed. Your property manager can provide confirmation of this after you move out.

How much will my bond cost?2022-06-20T17:56:29+00:00

The bond costs 17.5% of the bond amount (the security deposit amount). This is a one-time charge for the length of your tenancy. In other words, you pay a small amount now instead of having thousands of dollars tied up in a security deposit. The cost is on per apartment basis, so if you have roommates, splitting the cost of the bond lowers the individual cost.

What is an Apartment Surety Bond?2022-06-20T17:56:40+00:00

These financial agreements are used in place of traditional security deposits. The Principal (you) pays the Surety (Insurance Company) a small premium to get access to the insurance company’s creditworthiness up to the Bond Amount (Security Deposit). This bond guarantees the Obligee (Property Company) that it will not suffer financial loss due to your negligent behavior such as damaging an apartment beyond normal wear and tear or not paying rent.

Business insurance products are underwritten by Hiscox Insurance Company Inc., 104 South Michigan Avenue, Suite 600, Chicago, IL 60603. This information is provided to assist you in understanding the coverage we offer and does not modify the terms and conditions of any insurance policy, nor does it imply any claim is covered. Coverage is subject to underwriting and may not be available in all states. As of December 31, 2018, Hiscox Insurance Company Inc. (HICI) had admitted assets of $577,623,458 and policyholders surplus of $178,288,905. Total liabilities were $399,334,553 (inclusive of $138,618,279 of loss reserves), and paid up capital stock was $4,200,000.

The use of this portal to obtain a premium quotation does not alter or change your relationship with Hiscox or your customer. At all times you remain broker for the applicant and not an agent of Hiscox.

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