MidAmerican Energy deposit bonds.
From $100.
MidAmerican Energy may require a deposit guaranteeing payment on a new or reinstated account. Under the Iowa Utilities Board's rules (Iowa Admin. Code r. 199-19.4(3) for gas, r. 199-20.4(3) for electric), it may accept the written guarantee of a surety in place of cash. Premiums cost 2% of the bond amount, $100 minimum.
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How much does a MidAmerican Energy 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 long underwriting queue for the standard utility deposit bond — enter your amount, pay, and file with MidAmerican Energy. Here is the whole thing:
Apply online
Your account details, the service location, the deposit amount MidAmerican Energy set, and the effective date — that is the application.
Issued on the spot
No credit check up to $15,000. Above $15,000, a soft pull may add a short review.
File with MidAmerican Energy
Submit the executed bond to satisfy the utility's deposit requirement in place of cash. Wet-ink originals mailed whenever the office insists.
What it is and who needs it.
What the utility deposit bond actually covers
MidAmerican Energy Company is a Des Moines-based combination electric and gas utility regulated by the Iowa Utilities Board under Iowa Code chapter 476. Like other rate-regulated utilities, MidAmerican may ask a customer to guarantee payment on a new, previously delinquent, or higher-usage account with a deposit.
The Board's customer relations rules — Iowa Admin. Code r. 199-19.4(3) for gas service, and the parallel r. 199-20.4(3) for electric service — let the utility accept "the written guarantee of a surety or other responsible party as surety for an account" in place of that cash deposit. Each rule also caps the deposit itself: for an account that previously received service, no more than the highest one-month billing over the prior 12 months; for a new account, the customer's projected one-month usage as the utility determines it.
The bond guarantees that MidAmerican recovers unpaid charges if you fall behind — it is not insurance for you; if the surety pays a claim, you repay the surety. Enter the deposit figure the utility set; we price the bond at 2% of that amount, $100 minimum, and no credit check up to $15,000.
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 MidAmerican Energy. Submit the executed bond to satisfy the utility's deposit requirement in place of cash. Wet-ink originals mailed whenever the office 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, issued instantly.
Submit the application with the deposit amount MidAmerican Energy set — the executed bond is generated instantly, ready to file with the utility.
Start the application →Common questions.
Other Iowa bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Keep your cash. Post the bond instead.
The bond issues the moment you pay. Enter the deposit figure MidAmerican set and file the same day.