Question about bonding

[Ms. Lyn Thiebe]

I read in the forums to be licensed, insured and bonded. what does bonding mean and in reference to Alabama? I figured I would try this forum I have had no answer to my question in private investigator licensing forum. thank you,

[William Brassfield]

Usually bonded is "in lieu" or in place of insurance. Contact an Insurance agent in your area for more details. :)

[Ms. Lyn Thiebe]

thank you Bill, I was pretty sure it had something to do with insurance and as I get out in the field and take assignments I am sure one of the investigators can give me more information for the state I live in.

[Michael Harris]

As I understand "bonding" and "incurance", bonding protects the public and insuracne protects the agent.

If you make a mistake and cause damage, the bonding pays for your mistake (protects the public) and then collects the cost of damages from you.

The insurance pays for the damage and you do not have to pay it back (your rates go up).

You still need to read your state's laws, and probably take to an attorney.

[Ms. Lyn Thiebe]

thank you Michael I appreciate the further knowledge. at this time I am awaiting some quotes back from different agencies.

[Michael Harris]

Lyn,

I learned the difference when I studied for my Notary Signing Agent certification. :)

[Marcus Harris]

[B]Thanks for this information I truly appreciate it,it really helps me to know what I need to have in place before going all out into the field.