If you operate a Home Warranty Association in the State of Florida, it is required by the Commissione of Insurance that you execute a Florida Home Warranty Association Bond in the amount of $75,000 to ensure compliance with Section 634.305 of the Florida Statutes.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Florida Service or Home Warranty Bond holds you accountable for your business decisions.
By possessing a Florida Service or Home Warranty Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.