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Is a surety bond like insurance?

April 26, 2017Insurance surety bond

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10 Posted

Is a surety bond like insurance?

1 Answer

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10 Posted

No. If damages are paid to the landlord from the surety bond, the tenant will be required to reimburse the surety for those damages. Further, the amount paid as the premium on the bond only covers the cost of getting the bondit does not constitute payment toward any damages owed to the landlord.