Delivering Trusted Surety Solutions
Whether you’re securing your first bond or need ongoing support for multiple projects, we deliver trusted surety solutions backed by personalized service and regional expertise.
At Russel L. Morris Insurance Agency, we specialize in providing reliable, cost-effective surety bond solutions for businesses and individuals across Chicago, Illinois, Indiana, and Wisconsin. Whether you’re a contractor applying for a local license, a fiduciary managing an estate, or a party involved in a court proceeding, our experienced team is here to guide you through the bonding process with speed and confidence.
Need a quote or have questions?
Contact us today to get started with your surety bond in Chicago, Illinois, Indiana, or Wisconsin.
Call Us: 847-833-1223
About Us
Russell L. Morris Insurance is a second-generation, family-owned agency proudly serving clients since the early 1960s. Founded by Russell Morris, our agency has built a strong reputation for trust, responsiveness, and personal service. In 1984, Russell’s son Paul Morris joined the business, continuing the legacy with the same dedication to client care and industry expertise.
We specialize in surety bonds across Illinois, Wisconsin, and Indiana, offering reliable, fast, and knowledgeable service to attorneys, fiduciaries, and individuals navigating the legal process.
With decades of experience and a hands-on approach, Russell L. Morris Insurance ensures that every client receives the guidance and support they need, when they need it most.
Surety Bond FAQs
A surety bond is a written agreement between a Surety Company and the Contractor, or Principal that helps protect the project owner, or Obligee, in the event the Contractor fails to successfully perform the contract. If the Contractor fails to perform, the Surety Company assists the Obligee in completing the contract. All Federal construction contracts greater than $150,000 require a surety bond as a condition of contract award. Very often, the Contractor must provide a “bid” bond in order to bid on a Federal contract. The bid bond tells the Project Owner that if the contract is awarded to the contractor, the contractor will be able to obtain a “performance” bond. There are generally two types of bonds, a bid bond when submitting a bid on a project, and a performance/payment, or final bond, that is required for contract award.
A “fiduciary” is a person or entity appointed by a court to administrate the assets of a third party – a person or entity. A fiduciary may also be a ‘trustee’ appointed by a court.
The three (3) types of fiduciary bonds which have the primary purpose to ensure proper and legal administration of the third party’s assets.
- Probate bonds: fiduciary administration of deceased assets.
- Guardianship bonds: fiduciary administration of a minor or word’s assets
- Trustee bonds: ‘trustee’ administration of an individual or business’s assets
Court or Judicial bonds are a class of surety bonds, required for civil court procedures. These ‘court’ bonds may be grouped into ‘plaintiff’ (voluntary) and ‘defendant’ (compulsory).
Surety bonds are commonly required for contractors, auto dealers, freight brokers, estate executors, guardians, and businesses applying for certain licenses or permits. They may also be ordered by a court in legal proceedings.
In most cases, you can get approved the same day—especially for license and permit bonds. More complex bonds, such as fiduciary or court bonds, may require additional documentation and take a bit longer.
Insurance protects the policyholder; a surety bond protects the obligee (e.g., the government or a client). With a bond, you’re financially responsible for reimbursing the surety if a claim is paid on your behalf.
Most surety bonds are valid for one year and must be renewed annually, though some are written for multi-year terms or the length of a specific project or legal obligation.
Yes. First-time applicants are welcome, and many common bonds (like license or permit bonds) are easy to obtain with basic business or personal information.
Apply Here. We just need some basic information and we will get you a quote right away.
