Florida Utility Deposit Bond

The cost of your utility bond will depend on your specific circumstances. You can expect to pay a small percentage of the amount your utility company requires. This could range anywhere from 1% (if you have good credit) to 10% or more (if your credit is poor). For example, if you need a $100,000 bond and have excellent credit, you might pay $1,000 annually.

ZipBonds offers utility bond premiums as low as $100 a year. Apply today!

Rather than always requiring a security deposit, some utility companies allow their customers to obtain a surety bond. This can be a more affordable option as cash deposits can be expensive upfront.

By requiring surety bonds, utility companies have a guarantee from the surety company that their customers will pay for utilities on time and in full. If they fail, the surety company will pay out any claims the utility company makes on the bond for financial reimbursement.

Many businesses (especially new ones) opt for the surety bond option. Putting down a security deposit can be a significant upfront expense. The surety bond option allows businesses to put their working capital to work elsewhere.

Most bond requirements are based on utilities usage (average or estimated bills) ranging from $100 to $100,000. Remember, you will only pay a small percentage of this amount to obtain your bond.

Your utility bond company will notify you of your bonding requirements. You must post your bond before your utility services are turned on or the company performs other tasks. 

Utility Companies That Allow Customers to Purchase Surety Bonds:

You must send your original bond form to file your surety bond with your utility company. If you purchase your bond from Zip, we will send it out for you.