Bonds are great, but in today’s world, they’re just not enough. Most Contractor bonds max out at $15,000 and are primarily needed to satisfy licensing requirements. Bonds also work much like a credit card and are usually based on your credit. If a claim is made against your bond, you will have to pay back the bond company for the the claim amount in full. However, when you purchase a General Liability policy, you’ll be protected for up to $1,000,000 per occurrence with an Aggregate amount of up to $2,000,000. Deductibles range from $500 to $2500. Additionally, you’ll be insured for $5000 in medical coverage and up to $100,000 in Fire Legal. That’s why a General Liability policy is the way to go. It’s so much more coverage to give you peace of mind.