New Mexico
Utility Deposit Bond

400,000+ Bonds issued to 250,000+ satisfied customers.

Coverage Amount: $1,000 - $100,000
Term Length: 1 year
Select Bond For Price*
Most Bonds Processed In 24 Hours Or Less
Fast Delivery

Purchase your bond today and select from Next Day, Two Day, or Three Day Shipping.


Best Prices

We shop the top surety markets to find you the best rate.


Secure Checkout

Backed by SSL, our online bonding process is secure. We are committed to your privacy.

How much does a utility bond cost in New Mexico?

The Public Service Company of New Mexico (also known as PNM) requires customers to pay a deposit prior to the start of new utility services. Typically, deposit amounts are 1/6 of the total amount of electricity used in the last 12 months at the location the customer is moving to. PNM accepts surety bonds in lieu of security deposits on a case-by-case basis. Customers should verify their required bond amount with the utility company before bonding.

If you’ve been told you need a New Mexico utility surety bond, whether for PNM or another utility company in the state, SuretyBonds.com can help. These bonds are subject to underwriting, so the best way to find out how much you’ll pay is to request a free surety bond quote!

Bond Type
$1,000-$100,000PNM Utility Deposit Bond
$1,000-$25,000City of Farmington Electrical Utility Bond

Why do I need this bond?

Utility bonds are put in place to ensure that principals (utility customers) pay all utility bills on time and in full. If the customer fails to do this, a claim can be filed against the bond. If the claim is proven, the surety will reimburse the utility for all sums due up to the full bond amount. The principal will then reimburse the surety for damages paid out.

Ready to get bonded? Apply for a free bond quote now!

What’s the fine print?

Utility deposit bonds for PNM remain in full force until otherwise canceled. The surety can cancel the bond at any time by giving written notice to PNM 30 days before canceling the bond.

Ready to get started?

Additional Resources

PNM

Call 1 (800) 308-4358 to talk with a Surety Expert