Looking to avoid liability insurance for every household move serviced? The Florida Department of Agriculture and Consumer Services allows household moving companies to obtain a $25,000 Household Moving Services Performance Bond as a less expensive and simpler option.
The bond provides consumers protection from acts of fraud, contract breach, financial failure, or any violation of Florida Statutes Chapter 507 on the part of the moving company. Basically, a moving company needs to charge for what they contracted for and move the goods unharmed and on time to the destination. The liability policy has slightly different protections, but the State believes the surety bond is a sufficient replacement.
A surety bond with Jet Insurance Company covers all shipments made while the bond is active. For many shipping operations, the bond option will provide a big saving in costs over the liability policy.
A bond may only be utilized by moving companies with two or fewer trucks. Larger operations must obtain the $10,000 liability policy per shipment.
The cost for this bond starts at $25 monthly. An annual term or multi-year term can also be selected. Jet’s rate for this bond is based upon the personal credit of the moving service business owner and can vary from our preferred options seen below.
Bond Term | Cost |
---|---|
Monthly | $25 |
1 Year | $250 |
2 Years | $438 |
3 Years | $625 |
The online application takes minutes to receive your quote and Jet gives you the ability to purchase that quote immediately.
Our monthly option is unique in the surety industry allowing moving companies to purchase the bond for only months when needed.
After purchase, a copy of the bond and the receipt are immediately available. The original bond must be filed with the State at the following address:
State of Florida Department of Agriculture and Consumer Services
Terry Lee Rhodes Building
2005 Apalachee Parkway
Tallahassee, FL 32399-67000
During our online bond checkout process you can elect to have Jet mail the bond to the Department or to your address for later filing.
A claim against a mover’s bond in Florida is the last option in a lengthy affair. First, a complaint will be made to the Department of Agriculture and Culture Service or a suit filed with a local court. Either way, something has gone wrong and the moving company is unable or unwilling to correct the supposed misdeed. Issues can arise from, but are not limited to, the following:
The Department will conduct an investigation into the validity of the complaint, while a court will review all evidence provided. Either will make a judgment and if in favor of the complainant, an order will be issued for the moving company to abide by.
Failure to abide by the order may lead to a claim against the bond if the complainant does not receive financial compensation for damages suffered. Jet Insurance Company will conduct its own review of the evidence provided and make a determination if the claim is valid. If so, the claim will be paid from Jet to the complainant. The Department will be notified.
All surety companies, including Jet, offer bonds fully indemnified from losses. This means the moving company still needs to pay Jet back. A key difference between surety and insurance and why surety is often significantly less expensive than insurance.