Employee Dishonesty Bonds

JEmployee Dishonesty Bonds protect your business or service from theft or embezzlement by your employees. This bond is an assurance from Jet to issue financial compensation for the business’s stolen cash or merchandise.

PURCHASE EMPLOYEE DISHONESTY BOND

Businesses may benefit from this bond since it adds supplementary protection for your business. Jet provides the Employee Dishonesty Bond at a rate beneath the rest of the market with monthly or annual payment options that allow you to purchase this bond without any middlemen or agents unlike insurance agencies and brokerages.

Typically, our coverage encompasses all employees, however businesses may select to cover certain employees or departments based on risk factors. By scheduling the coverage a company can reduce the cost of a fidelity bond.

How Much do Dishonesty Bonds Cost?

Prices for the Employee Dishonesty Bond are dependent upon the total number of employees and the amount you would like to be covered for. Coverage costs can be found detailed in the chart below. 

Employee Dishonesty Bond Cost
Bond Limit # of Employees Monthly Cost Annual Cost
$5,000 5 - 20+ $10 - 21 $100 - 212
$10,000 5 - 20+ $13 - 30 $126 - 290
$15,000 5 - 20+ $15 - 33 $147 - 334
$20,000 5 - 20+ $17 - 38 $167 - 377
$25,000 5 - 20+ $19 - 42 $187 - 421
$30,000 5 - 20+ $20 - 45 $201 - 449
$40,000 5 - 20+ $23 - 51 $229 - 505
$50,000 5 - 20+ $26 - 56 $257 - 561
$75,000 5 - 20+ $32 - 67 $320 - 670
$100,000 5 - 20+ $36 - 73 $359 - 733

An Employee Dishonesty Bond can be purchased within minutes by entering some basic information and payment. Immediately after your purchase, your bond will become accessible to you.

Unlike other insurance agencies which only offer annual payment terms, Jet offers a monthly payment option with no down payment necessary, so you are not trapped in long, unnecessary payment terms. 

How Do I Cancel My Bond and Get a Refund?

In order to cancel your bond with Jet, all you need to do is merely contact Jet via email (or mail if you like) and request to cancel the bond. Dependent upon which state you are in, Jet applies a grace period prior to the cancellation of the bond. Please consult the chart below to view which grace period applies to you.

Jet Bond Cancellation Grace Periods
State Days
DC 30
FL 45*
GA 45
IN 45
ND 30
TX 15
All Others 10

*Florida will wait 45 days before the bond cancels following your request, however, if a monthly payment is missed the bond will cancel after 10 days

As long as there is time remaining on your annual purchase, a refund will be provided. For those who chose a monthly payment option, payment will end immediately once our coverage is no longer necessary. 

With Jet, there are no middlemen, agents or brokers who apply minimum premiums to the amount being refunded to you. Other insurance agents may withhold their commission and deduct it from the amount returned to you. 

What Happens If a Business Needs to Make a Claim on a Bond?

To make a claim, businesses must notify Jet of the theft within 15 days of the incident. Jet will eventually require a comprehensive account of what transpired, and the amount necessary to reimburse the company. Furthermore, evidence of conviction will be needed in order to complete the claim. 

After receiving the required documentation, a check will be sent directly to your business. Although theft by the owner is atypical, Jet covers this liability in their Employee Dishonesty Bond. Not all carriers provide this coverage. If the theft has been committed by the owner of the business, the check will be sent straight to the business. 

Are Employee Dishonesty Bonds Required?

No, Employee Dishonesty Bonds are not required by state or local agencies This bond will help safeguard your company from any fraudulent activity, embezzlement, or stolen equipment or merchandise by your employees. 

How Does the Application Process Work With Jet?

Jet’s application process is simple, and straightforward. Information will be necessary to choose coverage needed including basic business information, number of employees and coverage needed.

PURCHASE EMPLOYEE DISHONESTY BOND

Following payment, the finalized bond will become accessible immediately after purchase. 

How To Renew the Bond

Annual coverage with Jet requires payment to reinstate coverage. Prior to the expiration of the bond, Jet will deliver a notice to renew the bond.

With Jet’s monthly payment option there is no need to renew the bond, payments will continue automatically so long as the coverage remains active.

Can a Business Adjust Coverage? 

Whenever a change in the number of employees occurs Jet must be informed, and will appropriately raise or lower the payment as necessary. A pro rata refund will be issued to those with annual coverage lowering their number of employees or coverage.

Can a Business Adjust Coverage? 

Whenever a change in the number of employees occurs Jet must be informed, and will appropriately raise or lower the payment as necessary. A pro rata refund will be issued to those with annual coverage lowering their number of employees or coverage.

Employee Dishonesty Bonds vs. Business Services Bonds

Both the Employee Dishonesty and Business Service Bonds are types of fidelity bonds concerned with theft committed by employees. However, there is one major distinction: Employee Dishonesty Bonds cover theft by an employee from the employee’s organization and the Business Services Bonds cover theft from the organization's client(s). With Jet each coverage would need to be purchased separately as they are viewed as separate forms of risk to the business.