A Nevada fidelity bond protects your business against financial losses caused by employee dishonesty, theft, fraud, or embezzlement. This is the opposite of a surety bond. A surety bond protects your clients from your business’s mistakes. A fidelity bond protects your business from your own employees. Premiums generally run $100 to $1,000 per year depending on staff size, industry, and coverage limit, and most bonds can be issued instantly.
| Item | Detail |
|---|---|
| What it protects | Your business, against employee theft and fraud |
| Business service bond | Covers theft or damage by employees on a client’s premises |
| Employee dishonesty bond | Covers theft, forgery, embezzlement against your business |
| ERISA bond | Federally required for benefit and retirement plans |
| Nevada mandates | Private Professional Guardians (min $25,000 per person), Family Trust Companies |
| Cost | $100 to $1,000 per year |
Types of fidelity bonds
- Business service bonds: protect your clients against theft or property damage by your employees while on the client’s premises. Common for cleaning services, contractors, and home health aides.
- Employee dishonesty bonds: protect your business directly from financial or property losses caused by employee theft, forgery, or embezzlement.
- ERISA bonds: a fidelity bond required under federal law that protects retirement and employee benefit plans from fraud by the plan’s fiduciaries.
- Financial institution bonds: blanket bonds often required for banks, credit unions, and trust companies in Nevada to cover officers and employees against fraudulent acts.
Nevada requirements and cost
Most businesses buy fidelity bonds voluntarily, but Nevada legally mandates them for specific roles, such as Private Professional Guardians (a minimum of $25,000 per person) and Family Trust Companies.
Premiums generally range from $100 to $1,000 per year, depending on the size of your staff, your industry, and the coverage limit you select. Most bonds can be acquired instantly through specialized agencies.
How to get bonded
You can obtain a fidelity bond through a licensed insurance broker or surety agency. Have your employee count, industry, and desired coverage limit ready, since those drive the premium.
Frequently asked questions
What is the difference between a fidelity bond and a surety bond?
A surety bond protects your clients from your business’s errors. A fidelity bond protects your business from theft or fraud committed by your own employees.
Does Nevada require a fidelity bond?
For most businesses it is optional. Nevada mandates it for certain roles, including Private Professional Guardians (minimum $25,000 per person) and Family Trust Companies.
How much does a fidelity bond cost in Nevada?
Generally $100 to $1,000 per year, based on staff size, industry, and coverage limit.
What is an ERISA bond?
A federally required fidelity bond that protects employee benefit and retirement plans from fraud by the people who manage them.
Which businesses should consider a business service bond?
Cleaning services, contractors, and home health aides, since employees work on client premises.
