What Are the Key Differences Between Coverdash and Travelers Fidelity Bonds?
Employee Dishonesty or Benefit-Plan Protection
Coverdash lists a general employee-dishonesty fidelity bond. Travelers lists an ERISA fidelity bond for employee-benefit plans, covering theft, embezzlement or forgery by people who handle plan funds. Choose Coverdash if you need general employee-dishonesty protection; choose Travelers if you need an ERISA bond for a benefit plan. [1] [4] [5]
What the Cover Is Said to Protect
Coverdash’s card is about protecting clients against loss from employee dishonesty, without naming ERISA or benefit-plan assets. Travelers describes ERISA fidelity insurance as covering an employee benefit plan against fraud or dishonesty such as theft, embezzlement or forgery by people who handle plan funds. [1] [4]
How You Buy
Coverdash describes a fully digital quote-to-purchase process that includes the fidelity option. Travelers says ERISA fidelity is bought through a Travelers independent agent. Coverdash’s page does not name the issuing insurer; Travelers’ reviewed pages do not publish bond amounts. [1] [5] [4]
What Should You Confirm in Coverdash and Travelers Fidelity Bonds Quotes?
- Ask Coverdash whether the bond is an ERISA statutory bond or a commercial employee-dishonesty form, and which carrier issues it. [1]
- Ask the Travelers agent for the bond penalty, whether it meets the ERISA statutory minimum, and the named plan. [4]
- Confirm whether Coverdash’s “protect clients” wording means a third-party bond, which is a different use than Travelers’ plan-asset cover. [1] [4]
- Get deductibles and covered persons from both quotes; neither public page publishes those figures. [1] [5]