Michigan Consumers Energy deposit bonds.
From $100.
When Consumers Energy asks a new or higher-risk account for a security deposit before turning on electric or natural gas service, a surety bond in the same amount stands in for the cash, so the money stays in your account instead of sitting with the utility. Premiums cost 2% of the bond amount, $100 minimum.
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How much does a Michigan Consumers 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 deposit bond — enter your amount, pay, and send the bond to Consumers Energy. Here is the whole thing:
Apply online
Your account details, the deposit amount Consumers Energy named, and the effective date — that is the application.
Issued
No credit check up to $15,000 in the application, and most applications approve instantly.
Send it to Consumers Energy
Your executed bond arrives by email, ready to send to Consumers Energy in place of the cash deposit on your account. Wet-ink original mailed on request.
What it is and who needs it.
What the utility deposit bond actually covers
Consumers Energy — the electric and natural gas utility serving most of Lower Michigan — can require a new account, an account with a poor payment history, or a reconnection to post a security deposit before service starts or continues. That deposit protects the utility if the account later goes unpaid; it does not cover your usage charges themselves.
Rather than tie up cash with the utility — often for a year or more before it is refunded or credited — an applicant can instead post a surety bond in the same dollar amount. The bond gives Consumers Energy the same protection: if the account becomes delinquent, the utility can draw on the bond up to the deposit figure it set. If the surety pays a claim, you repay the surety — the bond is not insurance for you, and it is not a source of funds you can draw on.
The deposit amount itself is set by Consumers Energy account by account, not by a fixed statewide figure, and it can vary with your service class, prior payment history, and expected usage. Enter the exact figure on your account notice; we price the bond from a $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
Issued. No credit check up to $15,000 in the application, and most applications approve instantly.
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.
These are the actual issuing fields. No credit check up to $15,000. Enter the deposit amount Consumers Energy set and see your price at the application.
Start the application →Common questions.
Other Michigan bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Keep your cash. Post the bond instead.
Enter the deposit amount Consumers Energy set, see your exact price at the application, and send the executed bond the same day. Free until issued.