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IRM Insurance

11002 Kingston Pike, Suite 103
Knoxville, TN 37934

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Bond Insurance in Tennessee

Also known as the “Financial Guarantee Insurance” it is a coverage that is provided to the payment recipient in case of any kind of payment default on the part of an issue. IRM insurance specializes in bond security and related implementations. IRM insurance is doing the business on a personalized level to make sure that the best rates are offered to the customers against the price. Our customers are highly contented and it is all because of the fact that we offer savings with a localized service. The best part of our company is that we offer customized insurance plans that exactly match your needs.

We take pride in our services and help that we offer to our customers. IRM insurance has deep roots within the community and therefore people trust our business and values. IRM insurance is always here to serve you better. We hope to provide you with state of the art experience.

ERISA bonds

Protect your savings

Never get your hard earned money go to waste. With the ERISA bonds protection, the IRM insurance ensures that the fiduciaries never mishandle your funds at all.

No time required

The IRM insurance issue the ERISA bonds same day it is requested. The process is simple and the overall protection of your amount gets into the most expert hands of the industry.

Nothing hidden

Each and every detail is disclosed to you by the IRM insurance once the bond has been purchased. It is highly advised to get this bond to protect your amount in line with the US Department of Labor.

Utility bonds


In simple words, it is a financial guarantee that makes sure that a person or business will pay for the utilities on time. It is related to the customers that show a projection of spending large sums of utilities.

Cost of the bond

The cost of the utility bond varies according to the type of utilities that are being used. In general, it is anywhere between 1 – 10% of the total bond amount.

Why is the utility bond needed?

If a customer tends to use a large number of utilities such as electricity, restaurants or campgrounds the utility bond is required by the companies that offer such utilities.It is important that the utility bond is purchased from a valid financial institution such as IRM insurance to safeguard your interests.

Bid bond


It is a type of construction bond that protects the owners during the bidding processes. It is a guarantee that the construction company provides to the project owner that if they are unable to meet certain specs then the owner would be compensated.

How does it work?

These bonds have been specifically developed to make sure that the contractors never win a contract by placing low bids. It is important on the other hand to honor the bid in its genuine form. To protect the owner in this regard the bid bond has been created to overcome issues between parties.

Cost of the bid bond

It all depends upon the cost of the project. Small projects require only $100 - $200 as bid bond surety. For large projects, the bid bond amount can be as high as $2,500.

License bond


This is a type of commercial surety bond that is required by the businesses to be purchased before they can be issued a license. It is a requirement on the Federal and state level.

Types of license/permit bonds

There are many types of license bonds. Most important ones are mentioned as follows:

  • Auctioneer Bond
  • Appraisal Management Company Bond
  • Airline Reporting Bond
  • Auto Dealer Bond
  • Contractor License Bond
  • Collection Agency Bond
  • Credit Service Organization Bond
  • DMEPOS Bond
  • Energy Broker Bond
  • Federal Maritime Commission (FMC-48) Bond
  • Freight Broker Bond (BMC-84)

Cost of license bond

The cost of this bond depends upon the licensing importance for which it has been gained. Typically it is 1% of the total bond amount. IRM insurance has bond specialists to determine the health of the business before making a quote.

Lottery bonds


As the name shows, if a business plans on to sell lottery equipment on a commercial level then they are required to obtain a lottery bond. It is a state level protection against the misuse of lottery funds or tampering with the equipment.

Costs of lottery bond

Different states have different cost that is related to the lottery bonds. To get to know the costs it is advised to call (865) 579-0500 to talk to IRM insurance executive for more details. We will also help you in paying low rates for your lottery bonds.

Low credit score? No problem

It is a fact that if the credit score falls below 650 then the customers can have a problem. To overcome these contact experts are IRM insurance for better assistance.

Performance bonds


The performance bonds are issued by IRM insurance to guarantee that a certain project would be completed by the contractor in time and as per the directions of the owner. IRM insurance also makes sure that through the bonds the future contracts are also secured.

How do these bonds work?

It is important to know that these bonds are required by the government while the contracts for roads and bridges are sealed. It is also important to protect the taxpayer’s money. The owners i.e. the government does not have to suffer losses at all if the contractor fails to fulfill a part of the job.

Cost of the bond

For small projects, the bond can cost up to 1% of the total bond value. For large projects it can raise up to 1.5% - 2% to make sure that the full guarantee of the work completion is provided to the owner.

Maintenance bonds


It is a type of security bond that protects the owner of the completed project for a specific period of time. It is a protection against defects in work, faults in materials or craftsmanship. The pricing of the maintenance bond is calculated in a different way than the other or regular bonds.

Cost of the bond

It solely depends upon the credit score of your company. Call (865) 579-0500 to get your credit score calculated by the IRM insurance experts. In simple terms, higher your credit score lower will be the cost of the bond. It also takes into account the value of the contract that has been taken up.

Why IRM insurance?

It is important to note that the IRM insurance is an industry veteran and makes sure that you get the bond purchased even if there is a small difference in your credit score. It is highly likely that with the IRM insurance experts you will get the best results and have to pay less for your maintenance bonds.

Auto dealer bond


Every auto dealer before starting an auto business should acquire this bond. It not only protects the customers from the unethical practices for which the dealers are known but also show that the dealer is financially stable.

Let IRM insurance specialists help you out

There are several advantages which you will enjoy if you contact IRM insurance to acquire auto dealer bonds such as lowered price, duration and a personal credit score of the owners of the business. Our assessment is highly accurate and it also makes sure that getting such a bond is not a problem at all.

Get a quote for auto dealer bond

If you are ready to get a dealer bond in event of any kind of problem then it is highly likely that you need an expert opinion. Call (865) 579-0500 now to get your personalized quote.

Contractor bonds


There are three kinds of parties that are protected by contractor bonds. The contractor, bond issuing agency and the company that has hired the contractor. It is important to get this kind of bonds if a contractor is not directly working with the clients.

Need a contractor bond? Call IRM insurance

If you are in need of contractor bond then call (865) 579-0500 now to talk with one of the bond experts of IRM insurance. We provide complete process outline and make sure that you never spend more than what is required.

Why is the contractor bonds needed?

It is important that the costly financial decisions are made with the mutual consent of all the parties. At times even mutual consent can lead to negative financial effects. If this is the case then they can file against the bond for the compensation.

Fidelity bond


There are two main purposes of a fidelity bond. It can either protect the business from the theft of employees or the business clients by the theft of employees. In general, the fidelity bond is raised for both purposes.

Types of fidelity bonds

There are 3 main types of fidelity bonds i.e. the business service bonds, employee dishonesty bonds, and ERISA bonds. Each bond has its specific purpose and can be sued against if an employee has shown any malpractice which has led to the financial loss of any kind.

Cost of fidelity bonds

The coverage is all that decides the cost of the fidelity bonds. If a business needs coverage of $100,000 then a fidelity bond of $300 - $400 is required per year. If there are more coverage clauses involved then the premium can be higher.

Notary bond


In most states, the notary public is required to purchase the notary bond. In simple words, the malpractices of the notaries can be sued against in presence of this bond.

How do these bonds work?

In the case of notary fraud or misconduct these bonds can be sued against to get the compensation from the notaries. It is customer protection is the sole idea which these bonds provide and therefore they are highly in demand.

IRM insurance Knoxville, your one stop shop for surety bonds

Whether you are purchasing a notary bond worth $1,000 or $15,000 it is advised to call (865) 579-0500 before making a purchase. The IRM insurance specialists are here to help you out. As industry pioneers, the IRM insurance will take every possible step to cut down your bond price.