THE WHITACRE INSURANCE GROUP
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Insurance Bonds

If you need an insurance bond to bid on or get hired for a new job call us. We're insurance bond experts and we'll get it taken care of you... Fast!

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What is an Insurance Bond?

An insurance bond ensures contract completion in the event of contractor default and are typically required by project owners when seeking a contractor to fulfill a contract. 

The contractor obtains a bond so the insurance company is obligated to compensate the project owner for the financial loss incurred if the work is not completed. ​

Typical Insurance Bond Types

Although there are many types of insurance bonds, the four most common types needed by business owners are:
  • Bid Bond - Ensures the bidder on a contract will enter into the contract and furnish the required payment and performance bonds if awarded the contract.
  • Payment Bond - Ensures suppliers and subcontractors are paid for work performed under the contract.
  • Performance Bond - Ensures the contract will be completed in accordance with the terms and conditions of the contract.
  • Ancillary Bond - Ensures requirements integral to the contract, but not directly performance related, are performed.


Contact us to learn more about the right insurance bond for you.
(630) 640-6548
Downers Grove, IL 60515​
Click Here to Email Us
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We are licensed in Illinois, Arizona, Arkansas, Colorado, Florida, Georgia, Indiana,
Michigan, Missouri, Ohio, Tennessee, Wisconsin, and Wyoming.

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The Whitacre Insurance Group
Downers Grove, IL 60515​
(630) 640-6548

Click Here to Email Us

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Downers Grove IL photo by David Wilson | CC-BY-2.0 | Website by InsuranceSplash
  • Home
  • Carriers
  • Quotes
    • Auto Quotes >
      • Auto Insurance Quote
      • ATV Insurance Quote
      • Boat Insurance Quote
      • Classic Car Insurance Quote
      • RV Insurance Quote
      • Motorcycle Quote
    • Property Quotes >
      • Home Insurance Quote
      • Earthquake Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Life & Financial Quotes >
      • Life Insurance Quote
      • Disability Insurance Quote
      • Umbrella Insurance Quote
    • Business Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Group Benefits Insurance Quote
      • Insurance Bond Quote
      • Workers Compensation Quote
    • Health Quotes >
      • Health Insurance Quote
      • Critical Illness Insurance Quote
      • Long Term Care Insurance Quote
    • Other Quotes >
      • Event Insurance Quote
      • Wedding Insurance Quote
  • Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Motorcycle Insurance
      • RV Insurance
    • Property >
      • Home Insurance
      • Earthquake Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Life/Financial >
      • Life Insurance
      • Disability Insurance
      • Umbrella Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Group Benefits
      • Insurance Bonds
      • Workers Compensation
    • Health >
      • Health Insurance
      • Critical Illness Insurance
      • Long Term Care Insurance
    • Other >
      • Event Insurance
      • Wedding Insurance
  • About
    • Safety
    • Community Involvement
    • Online Documents
    • Client Testimonials
    • Refer a Friend
    • Agency Photo Gallery
    • Accessibility Statement
  • Awards
  • Contact