Medicare bonds can sometimes be costly, looking for the best possible price from a reputable company is worth more than forfeiting trust in a company just to save a couple of bucks.
1) Be sure that when you complete the surety Bond application, that it's filled out completely. Simple right? Approvals are given based on a number of factors including time in business and credit; but the first step in saving some Dinero on a Medicare bond is being careful not to leave information out on the form, this will offset finding that reasonable price available to you.
2) Believe it or not, but making an impression on the underwriter through lettering makes a difference; whether you type or print up the application use should utilize block lettering. This tip is just as important as taking care of any missing information illegible writing can hinder the speed of an application approval and put the kibosh on a lower price.
3) Show off your financial stability, take a step beyond what they ask for. Typically they'll want to see some assets which includes accounts at a bank, so what you can do is provide the 1st page of your previous statement. Like I stated before bond approval depends heavily on credit, so the more you provide to them the easier it will be for them to approve that bond.
4) The 4th step to take heed to is including a resume with your application, as well as other company owners resumes if available. experience in your field is something underwriters look for without a doubt, the goal here is to raise their comfort level with your stability and experience.
5) Clarity is the 2nd best policy next to honesty. It's essential to be descriptive in the type of bond you want, 'Surety Bond" is generic and doesn't give the underwriter enough info on the type you may need. That information can be provided by the government agency or individual that is informing you of getting a bond.
6) Remember what I mentioned about credit playing a major role in an approval for a bond? If your including your spouse or perhaps a business partner make sure they have a high credit score, the reason being, underwriters use the lowest credit score in approvals; Now in some cases (business situations), an average will be calculated and used based on who's involved, not so much with surety bonds though, so it's important to include parties with high credit ratings.
7) My last tip for maximizing your ability in saving a little money is providing as much contact information as possible, take the time to submit ALL contact information, if your not reachable to answer any questions from an underwriter, this will result in 1 of 2 things, a High price, or flat out denial.
Miss Gemma-Leigh Garner is a freelance copywriter and blogger that writes on many different financial subjects such as surety bonds plus liability insurance and other current financial matters.
Article Source: http://EzineArticles.com/?expert=Gemma-Leigh_Garner
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