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Insurance

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Surety Bonds

A surety bond is a type of financial guarantee that is used to ensure that a specific obligation is fulfilled. In essence, a surety bond is a promise by a third party (the surety) to pay a sum of money if the principal (the party who is obligated to fulfill the obligation) fails to do so. Surety bonds are commonly used in construction, government contracts, and other industries where a performance bond is required to protect against financial losses.

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SR-22 Bond

An SR-22 bond is a type of financial responsibility certificate that is required by some state departments of motor vehicles for drivers who have been convicted of certain traffic violations. It is a certificate of insurance that verifies that a driver has the minimum amount of liability insurance required by state law.

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Life & Annuity

Annuity insurance is a type of financial product that provides a steady stream of income to individuals in retirement. The product is purchased from an insurance company, and the company promises to pay the policyholder a specified amount of money on a regular basis, typically monthly or annually.

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There are several types of annuities, including immediate annuities, deferred annuities, and variable annuities

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© 2023 by Coats & Associates Insurance

17325 Euclid Ave. Suite 3058 Cleveland, OH. 44112

Tel: 216-581-8380

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