What Is a Black Hills Energy Utility Bond?
Utility deposit bonds ensure that Black Hills Energy customers pay their utility bills in full and on time. Whereas most surety bonds protect consumers, utility bonds protect utility companies by ensuring that the company receives payment.
How Much Will a Utility Deposit Bond Cost?
The cost of a utility deposit bond is based on personal credit score and the bond amount. Contact Black Hills Energy to determine your bond coverage requirement based on historical or expected energy usage.
You’ll pay a small percentage of the total bond amount for your Black Hills Energy utility bond premium. Prices start as low as $100. Apply today to receive an exact quote.
SuretyBonds.com works with the nation’s top surety providers to find the lowest pricing with no added fees.
How Do I Get My Utility Bond?
Choosing SuretyBonds.com is the quickest and easiest way to get your Black Hills Energy utility bond. Just follow these five steps:
- Step 1: Apply for your bond online, providing your account number and line of business
- Step 2: Receive an instant price quote
- Step 3: Pay for your invoice online or over the phone
- Step 4: Select your preferred shipping method
- Step 5: Sign and mail the original bond form to the address below
PO Box 1400
Rapid City , SD 57709
(888) 890-5554
How Do Black Hills Energy Utility Deposit Bonds Work?
A utility deposit surety bond ensures that large utility customers will pay their bills in full and on time. If they fail to do so, Black Hills Energy can file a claim to receive the payment. The surety provider will pay the claim amount and the bondholder must reimburse the surety.
These bonds remain effective until released by Black Hills Energy and must be renewed annually. The surety can cancel this bond at any time by delivering written notice 30 days before the termination date.
Who Needs a Utility Bond?
Black Hills Energy requires certain high-volume energy users such as manufacturers, restaurants or campgrounds to be bonded before turning on utility services. The company will notify you if you need to purchase a utility deposit bond.
Learn more in our Guide to Utility Bonds.
