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