NIPSCO gas deposit bonds.
From $100.
Instead of tying up cash in a security deposit with Northern Indiana Public Service Company LLC (NIPSCO), a natural gas customer can post a surety bond for the same figure. NIPSCO sets the amount, subject to the deposit cap in 170 IAC 5-1-15; the premium is 2% of the bond amount, $100 minimum.
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How much does a NIPSCO gas 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 NIPSCO. Here is the whole thing:
Apply online
Your name or business, the service location, the deposit amount NIPSCO set, and the effective date — that is the application.
Approved
No credit check up to $15,000. Larger amounts may get a brief review.
File with NIPSCO
Submit the executed bond to NIPSCO 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
Northern Indiana Public Service Company LLC (NIPSCO) is one of Indiana's largest natural gas utilities, regulated by the Indiana Utility Regulatory Commission (IURC). Like other IURC-regulated gas utilities, NIPSCO can require a customer to post a security deposit before starting or continuing 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 5-1-15 — the gas-utility counterpart of the electric-utility deposit rule — a required deposit is capped and the utility must give written notice of the basis for it.
Rather than leave that cash sitting with the utility, NIPSCO 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 gas account, and if the account goes unpaid, NIPSCO can recover against the bond instead of drawing down a cash deposit.
It is not insurance for you — if the surety pays NIPSCO, 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 NIPSCO 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 NIPSCO. Submit the executed bond to NIPSCO 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 NIPSCO 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 .
NIPSCO gas deposit bond, issued today.
Premiums from $100, priced at 2% of the bond amount. Enter your required figure and file with NIPSCO the same day.