Duke Energy Indiana deposit bonds.
From $100.
Instead of tying up cash as a security deposit with Duke Energy Indiana, LLC, a customer charged a deposit for electric service can post a surety bond for the same figure. Duke Energy Indiana sets the deposit amount on your account; the premium is 2% of the bond amount, $100 minimum. Enter your amount in the calculator below for your exact price.
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How much does a Duke Energy Indiana deposit bond cost?
2% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No underwriting queue for the standard deposit bond — enter your amount, pay, and file with Duke Energy Indiana. Here is the whole thing:
Apply online
Your name or business, the service location, the deposit amount Duke Energy Indiana set, and the effective date — that is the application. No credit check up to $15,000.
Approved
Most deposit bonds clear quickly. No credit check up to $15,000. Larger amounts may get a brief review.
File with Duke Energy Indiana
Submit the executed bond to Duke Energy Indiana in place of the cash deposit on your account. Wet-ink originals mailed whenever the utility insists.
What it is and who needs it.
What the utility deposit bond actually covers
Duke Energy Indiana, LLC is an electric utility regulated by the Indiana Utility Regulatory Commission (IURC), serving north-central and southern Indiana. Like other IURC-regulated utilities, it can require a customer to post a security deposit before starting or continuing electric service, most often for a new business account, an account with high projected usage, or one with a history of late payment. Under 170 IAC 4-1-15, a required deposit is capped at no more than one-sixth of the customer's expected annual billings, and the utility must give written notice of the facts behind the requirement.
Rather than leave that cash sitting with the utility, Duke Energy Indiana allows a customer to post a surety bond for the same amount in lieu of a cash deposit. The bond is a payment guarantee: it stands behind the charges on your electric account, and if the account goes unpaid, Duke Energy Indiana can recover against the bond instead of drawing down a cash deposit.
It is not insurance for you — if the surety pays Duke Energy Indiana, you repay the surety. The advantage is cash flow: you pay a small premium, 2% of the bond amount with a $100 minimum, rather than locking up the full deposit figure for the life of the account. Enter the amount Duke Energy Indiana set and your exact price appears at the application.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with Duke Energy Indiana. Submit the executed bond to Duke Energy Indiana in place of the cash deposit on your account. Wet-ink originals mailed whenever the utility insists.
What sets the price
The premium is 2% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $15,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, no credit check up to $15,000.
Submit the application with the deposit amount Duke Energy Indiana set. Most clear quickly; larger amounts may get a brief underwriter review, usually within 48 hours.
Start the application →Common questions.
Other Indiana bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Duke Energy Indiana deposit bond, issued today.
Premiums from $100, priced at 2% of the bond amount. Enter your required figure and file with Duke Energy Indiana the same day.