If you are a small business owner, chances are you have already heard that you need insurance. Maybe a landlord asked for it. Maybe a client requested a certificate of insurance. Or maybe you are just trying to do things the right way. The problem is that small business insurance can feel confusing if no one has ever explained it clearly.

If you are bidding on a public works or commercial project, chances are you have come across the term bid bond requirement. For many contractors and small businesses, bid bonds can feel confusing at first. The good news is that bid bonds are actually designed to protect everyone involved and help qualified contractors compete fairly.

Understanding how bid bonds work can make bidding on jobs much easier and less stressful.