Surety & Bonds
Guarantee Your Commitments
Financial guarantee
Reduce losses if obligations can’t be met
Ensure successful completion
Projects are finished with less financial uncertainty
Build trust
Strengthen agreements with a promise of compensation if default happens
Surety & Bonds
Guarantee Your Commitments
Financial guarantee
Reduce losses if obligations can’t be met
Ensure successful completion
Projects are finished with less financial uncertainty
Build trust
Strengthen agreements with a promise of compensation if default happens
STEP 1
Get a Quote
Share with us your information and our team will get back to you
STEP 2
Review Quote
Review our proposed quote and coverage, ensuring they suit your needs.
STEP 3
Pay
Confirm with us and proceed to payment.
Once payment has been made, you’ll be financially protected for your assets, liabilities, and investments!
Frequently Asked Questions
What is Surety and Bond?
A surety bond is a guarantee that a person or company will fulfill their obligation or contract. If they fail to do so, the bond provides financial protection to the party who suffers a loss.
Who needs a Surety Bond?
Surety bonds are commonly required by:
- Contractors working on private projects
- Businesses applying for licenses or permits
- Individuals required to guarantee performance or payment
Who are the involved parties in a bond?
There are three parties involved:
- Principal – the person or company required to post the bond
- Obligee – the party requiring the bond
- Surety – the insurance company that issues the bond
Note: If the principal fails to meet the obligation, the surety pays the obligee, and later recovers the amount from the principal.
Is a Surety Bond the same as insurance?
No. Unlike insurance, a surety bond is a guarantee, not protection against loss. The principal is still responsible for paying back the surety if a claim is made.
How long is a Surety Bond valid?
Bond validity depends on the purpose. Some bonds are valid for a specific project period, while others are valid for one year, and can be extended.
Why MAAGAP?
Fast, efficient, and 24/7 customer support
Get in touch with us through email or phone call, or drop by any of our branches.
Personalizable products, flexible options
We provide a wide range of insurance products and coverage. Choose the plans that best match your business or project.
Simple and straightforward claims
Don’t stress over insurance jargon and claims. We have simplified the process so you can make a claim easily.
Highly experienced
Over 25 years in the non-life insurance industry means we provide excellent services and deliver quality insurance products to you.
ISO-certified since 2006
We have continuously met the International Organization for Standardization (ISO) for quality, safety, or efficiency, verified by third parties.
Financially secure
We maintain strong financial management and prudent reserves, so claims can be handled reliably and the business continues to grow.
Long-term partner
We build relationships that last, taking time to understand your needs and supporting you over time so you’re looked after.
Contact Us
Send us a message or contact us directly via our contact information below
Roadside Assistance
PACIFICO
24/7 Roadside Assistance: +63284594726
Travel Assistance
ASSIST AMERICA
24/7 Contact Center: +6328811 2511 (accepts Call Collect)
Mobile Number: +63917 562 2100 (available in Viber and WhatsApp)
Email address: medservicesphils@assistamerica.com
MAAGAP is regulated and authorized to sell non-life
insurance by the Philippine Insurance Commission.
Follow Us
Contact Us
(02) 8867-2452 to 55
customerservice@maagap.com