Estate Sales – Bonded and Insured
When an estate sales company advertises it is bonded and insured in means they have purchased Liability Insurance and a Surety Bond. Not all companies do this. It is not a requirement in every state and is often the choice of the individual company.
Depending on the insurance company the liquidator chose the liability insurance could cover personal injury, libel, slander, false advertising or product liability for the merchandise being sold. Each policy is different.
If you are interviewing a company that espouses it is insured ask what their insurance covers and ask them when you set up your interview appointment to bring a copy of their insurance binder.
The Bond purchased by liquidators usually is to ensure the job you have contracted with them to do is done. It may also cover their staff. Be sure to ask.
Whether to hire a company that is bonded and insured is purely a personal choice, but understanding what the estate sales company is offering is important. Never hesitate to ask questions during the interview or preliminary phone conversation.