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Philadelphia Surety Blog

Tag: Insurance

What’s the difference between a bond and insurance?

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in General on Mar 21, 2016.

As we kick off our construction surety law blog, let’s start with some basics. Among the most important things to understand about bonds is that they are not insurance. Many owners and contractors consider them to be the same things and often confuse the two when it is time to make a claim. Surety bonds and insurance policies are, however, not the same things.

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