Insurance is usually to insure your business against accidents like vehicle accidents or if you accidently damage something while on the job etc.Bonds are usually job specific as in perfomance and payment bonds that if for some reason your company doesn t or can t finish the work or don t pay subcontractors the bonds are in place to insure that the job will be finished.They are two completely separate things on some jobs you may be required to have both. You always have to insurance, bonds you get as needed. Usually a bond isn t required unless the contract is over a certain $$ amount but many gov t jobs in the US will require a bond.Insurance usually just takes $$$, bonds your company must meet certain requirements to get some aren t bondable.
Hmm i dont know what the difference is but this might help youhttp://peerfly.com/x/0/384/2613/
