What does it mean to be bonded, and is being bonded a good thing?

Being bonded means the person or business has purchased a surety bond, a guarantee that pays the customer if the bondholder fails to perform their duties. States commonly require bonds as a licensing condition: Florida public adjusters must file a $50,000 bond conditioned on faithful performance, Texas public adjusters must post a bond of $10,000 or more, and California independent adjusters need a $2,000 bond. For customers, a bond is a source of financial protection; for licensees, it is part of the cost of doing business.