Archives for March 2016

Locksmiths and Bonding: Here’s a surprise for you…..

“Licensed, Bonded, Insured.” “Certified, Accredited, Bonded.”  “Bonded for your Security.” These terms, as well as many variations, are the mantra of most locksmiths. For most locksmiths (in the Tallahassee, FL., area, anyway), these words are merely words, and nothing else.

There are primarily two kinds of bonds. The first is the surety bond. This is a bond that insures performance. If a small locksmith company wins a bid for a large construction-lock installation project, this bond is issued prior to the bidding process to guarantee that the winning bidder starts, and completes, the job. If the contractor/locksmith walks away without finishing the job, the bond pays for the remaining work to be completed by someone else. This is used to guarantee performance, and shows that the bidder is serious about doing the job.

Another bond is the guaranty bond (yes, the spelling is correct). This bond is a bond that pertains to the individual and/or the agency the person works for. It is a guarantee of the person, himself. If the person steals from his customer, or does anything to hurt his customer, the bond reimburses the customer. Sometimes liability insurance covers this issue, but generally liability insurance only covers acts of negligence or vehicular accidents.

Here is a surprise: 90% of all locksmiths in the Tallahassee area are not bonded, or even insured. Some have their premises insured, and that’s it.

Locksmiths are responsible for the safety of their clients. The confidentiality of security information and key codes is extremely important. You could easily make the mistake of having a convicted burglar or sex offender re-key your house! A bond is issued by an entity, whereby the entity says, in effect, “we have checked this person out, and stand by him/her. If this person uses their locksmith skills to rob or otherwise take advantage of you, we will reimburse you up to the the maximum amount of this bond.” Needless to say, bonds are not issued without some sort of vetting process.

High Quality Locksmith, is an active member of ALOA, and we are bonded by this organization. Additionally, our comprehensive liability insurance, issued by the Hartford Insurance Company, also covers our customers. HQ Locksmith is also in the process of obtaining a second bond!

The next time a locksmith says that he/she is bonded, ask to see the bond. Anyone can say they have one, but very few can produce this upon request.

High Quality Locksmith maintains copies of our bond and our insurance policies on board our trucks. Our bond is also on our web page, at http://hqlocksmith.com/our-credentials.