No, a Snug BondCover is neither insurance nor a loan, it is a surety product.
Rather than pay the full bond, for a small fee a renter can provide an alternative to a cash bond, that protects the owner from bond related claims.
If a bond claim arises, BondCover is a limited guarantee for the Owner that Snug will pay valid bond claims if Renters don't or won't.
Renters are still responsible for the amount of the claim.
Please read the BondCover Terms and Conditions for details.