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South Carolina Utility Deposit Bond

How much does a utility deposit bond cost in South Carolina?

Some utility service providers in South Carolina require customers to post surety bonds in lieu of cash deposits prior to receiving utility services. These bonds are required on a case-by-case basis, and the utility company determines the required bond amount. Applicants should verify their required amount of bond coverage with their utility provider prior to bonding.

These bonds are subject to underwriting consideration, so the price you’ll pay for your bond depends on your required bond amount as well as on a review of your personal credit report. The best way to find out exactly how much you’ll pay for your South Carolina surety bond is to request a free bond quote now!

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Duke Energy Progress Bond Varies Starts at 1% 4-8% 10%+ Apply Now
SCE and G Bond Varies Starts at 1% 4-8% 10%+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

If you need a utility deposit bond in South Carolina, the experts at SuretyBonds.com can get you bonded quickly, easily and accurately - whether your bond is listed above or not. Call 1 (800) 308-4358 or click here to get started! We can provide your free bond quote within 1 business day of submitting your application.

Why do I need this bond?

Utility deposit bonds in South Carolina are put in place to ensure that principals (utility customers) pay all utility bills on time and in full. If a principal accrues a balance of unpaid utility bills, the bond protects the utility company from financial loss up to the full bond amount. The principal must reimburse the surety for all damages paid out.

Getting bonded is fast and easy when you choose SuretyBonds.com! Apply for your free bond quote now!

What’s the fine print?

Duke Energy Progress utility bonds can be canceled if the surety gives written notice of cancellation to the utility company at least 90 days prior to the effective cancellation date.

SCE&G utility bonds run continuously until canceled. The surety can terminate the bond by mailing written notice to the utility company. Termination becomes effective 60 days after the utility company receives the notice.

All utility companies have their own bonding requirements, so applicants should be sure they understand the terms of their bond agreements during the bonding process.

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