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Insurance Bonds

If you need an insurance bond to bid on or get hired for a new job call us and we'll get it taken care of for 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 and let us know how we can help with your bond insurance. 
(507) 451-7619​
751 East Main St
PO Box 265
Owatonna, MN 55060​
Click Here to Email Us
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Licensed in Minnesota and ​Wisconsin

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Jensen Agency
751 East Main St
PO Box 265
Owatonna, MN 55060
(507) 451-7619
Click Here to Email Us

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Owatonna, Minnesota 5 photo by Jon Platek | CC-BY-SA-3.0 
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