Jet Insurance Company First to Offer Pay-As-You-Go Surety Bonds

News provided by

Jun 21, 2022, 10:00 ET

CHARLOTTE, N.C., June 21, 2022 /PRNewswire/ -- Having eliminated the middleman and released industry-leading technology, Jet Insurance Company is now the first and only surety company to provide on-demand surety bonds to its customers. Jet breaks the mold by offering a true "pay-as-you-go" monthly option with no added charges or down payments.

"Surety principals previously had to pay for their bonds upfront, occasionally with the option of financing their premium with third-party companies that charge high APRs, exorbitant fees, and substantial down payments. We think surety should be just as easy as your car insurance, so we introduced our monthly option," John Pappalardo, Vice President.

Jet Insurance Company's streamlined application produces an immediate quote, allowing its customers to purchase and print a copy of their bond in a matter of minutes.

The monthly option automatically renews, keeping the surety bond in force as long as the card on file is valid or until the customer shuts off payments. Jet customers can opt out at any time with the click of a button, canceling the bond without any penalties.

"Our customers love these monthly payments. After a decade of working in surety bonds, I can confidently say this is a game-changer. The process is easy, the calculation is simple, and the upfront cost is so low! This will be an industry standard," continued Pappalardo.

Jet Insurance Company is headquartered in Charlotte, North Carolina. Jet is currently licensed in 37 states, as well as the District of Columbia, and is in the process of obtaining authorization to write surety and fidelity products in all 50 states. For more information, email [email protected] or visit https://jetsurety.com.

Contact: Sadie Giacomelli, [email protected]

SOURCE Jet Insurance Company