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How much does a utility deposit bond cost in Florida?
Utility service providers in Florida require some customers to post a surety bond in lieu of a deposit for utility services on a case-by-case basis. The required bond amount is determined by the utility company, and applicants should verify their required bond amount prior to bonding.
These bonds are subject to underwriting consideration. Because the bond amount and price vary so much, our experts recommend calling in at 1 (800) 308-4358 or submitting a bond request to get a free, personalized surety bond quote.
If you’re ready to get bonded, call SuretyBonds.com at 1 (800) 308-4358 or fill out our online bond request form now.
Why do I need this bond?
Utility deposit bonds exist to ensure that customers pay all utility bonds on time and in full. This bond is not required by the state, but rather by the utility company itself. Most utility companies require that these bonds be posted before utility services will be provided.
If the customer falls behind on bill payments, the utility company can submit a claim and proof or late payments to the surety company. If the claim is validated, the surety will cover financial losses suffered by the utility company up to the full bond amount. The principal (utility customer) must reimburse the surety for damages paid out.
You’ll receive your free, no-obligation bond quote within one business day of applying when you work with SuretyBonds.com. Get started now!
Other Important Information
Utility bonds in Florida all have different cancellation clauses. If the surety decides to cancel this bond, it must notify the utility company prior to cancellation. The cancellation clause and other pertinent information can be found on the utility company’s specific surety bond form.
For non-residential utility customers, our team must know what line of business you need utility services for.
Applicants must know their utility account number, which is issued by the utility company.