Is licensed bonded and insured the same thing?

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1204220

2026-08-13 01:00

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No, "licensed," "bonded," and "insured" are not the same thing, though they are often related. Being "licensed" means a business or professional has obtained the necessary permits to operate legally in their field. "Bonded" refers to having a surety bond, which provides financial protection to clients if the business fails to fulfill its obligations. "Insured" means the business has liability insurance to cover potential damages or accidents, protecting both the business and its clients.

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