Reliant Energy Utility Deposit Bond
Reliant may require a deposit before your electric service can start. However, if you choose to meet that requirement with a surety bond, you won’t have to hand over the full deposit in cash. Instead, Lavon Insurance gives you quick online access to the Reliant Energy deposit bond application.
A Surety Bond Can Satisfy Reliant’s Deposit Requirement
When Reliant assesses a deposit, it places a hold on your enrollment, and service won’t start until the requirement is met. Fortunately, Reliant’s start-service guidance specifically recognizes customers who choose a surety bond for their deposit.
As a result, a Reliant deposit bond can be a smart option if you’d rather not leave the entire security amount with your electric provider.
Start your Reliant enrollment before you apply, so you know the exact deposit assigned to your account. Then use that amount and your Reliant account information on the bond application.
Why Choose a Reliant Utility Deposit Bond?
Avoid Funding the Full Deposit
The bond provides the required guarantee, so you don’t tie up the entire amount as a cash deposit.
Release Your Enrollment Hold
Once the deposit requirement is satisfied, Reliant can move forward with starting your service.
Better for Business Cash Flow
Similarly, businesses can keep cash for payroll and operations instead of leaving it with the electric provider.
How a Reliant Deposit Bond Works
A utility deposit bond isn’t insurance for you. Rather, it’s a financial guarantee a surety company issues for Reliant’s benefit.
| Feature | Cash Deposit | Reliant Deposit Bond |
|---|---|---|
| What you pay up front | The full deposit amount | A bond premium, a fraction of the deposit |
| Your monthly electric bills | You pay them normally | You still pay them normally |
| Who backs the deposit | Your own cash, held by Reliant | A surety company |
| If Reliant makes a claim | Reliant applies your deposit | The surety pays, and you repay the surety |
How to Get a Reliant Energy Deposit Bond
Enroll With Reliant
First, start your electric service enrollment and find out whether Reliant requires a deposit.
Confirm the Amount
Next, get the exact deposit requirement assigned to your Reliant account.
Apply for the Bond
Then complete the online surety application with your customer and deposit information.
Finalize With Reliant
Finally, Reliant notes a surety bond deposit must be paid before service starts. Allow two business days after Reliant receives everything.
Other Ways Reliant May Let You Avoid a Cash Deposit
A surety bond isn’t the only option. Depending on your eligibility, Reliant lists several other ways to satisfy or avoid a cash deposit.
Nevertheless, if none of these fit your situation, a surety bond gives you a direct path forward. For full details, see Reliant’s requirements to start service.
- Letter of guarantee from an eligible current Reliant customer
- Letter of credit from your most recent electricity provider
- Age 65 or older, with an accepted ID
- Active military, with orders dated within six months
- Medically indigent or family violence certification
- Surety bond, through Lavon Insurance
What Does a Reliant Energy Deposit Bond Cost?
The deposit Reliant assigns isn’t what you pay for the bond. In fact, the deposit becomes the bond amount, which is the guarantee. You pay a premium, which is the surety’s price for issuing it.
Typically, premiums depend on the bond amount, your credit, any business financial information and the surety’s underwriting. Consequently, the quickest way to see your price is to complete the online application.
- Legal customer or business name
- Reliant service address
- Reliant account number, if assigned
- Exact deposit or bond amount
- Requested effective date
- Business entity and ownership information, when applicable
- Financial information requested during underwriting
Reliant Energy Utility Deposit Bond FAQs
Does Reliant Energy accept surety bonds for deposits?
Yes. Reliant’s start-service guidance addresses customers who choose a surety bond for their deposit. However, the bond deposit must be paid before Reliant will start service.
Why might Reliant require a deposit?
Generally, a deposit may be required based on factors such as payment history and credit. Reliant determines the amount during enrollment.
How much should my surety bond be?
Use the deposit amount assigned to your Reliant account, unless Reliant or the surety gives you different instructions.
Do I have to pay the entire bond amount?
No. The bond amount is the guarantee the surety provides. Instead, you pay a premium based on underwriting.
Will the surety bond pay my Reliant electric bill?
No. You’re still responsible for your electricity charges. In other words, the bond secures the deposit but doesn’t replace your monthly payments.
How long does it take Reliant to start service after the deposit is satisfied?
Reliant asks customers to allow two business days after it receives all required payments and information.
Does Reliant offer alternatives to a cash deposit?
Yes. Depending on eligibility, options include a letter of guarantee from a current Reliant customer, a letter of credit from your last electricity provider, and waivers for customers 65 or older, active military and certain other customers, as well as surety bonds.
When are Texas electric deposits refunded?
Under Public Utility Commission of Texas rules, retail electric providers refund residential deposits after 12 consecutive on-time billings and non-residential deposits after 24.
What happens if the surety has to pay a claim?
Surety bonds include an indemnity obligation. Therefore, if the surety pays a valid claim, you’re generally responsible for repaying it.
Can I apply for the Reliant Energy bond online?
Yes. Once you know the deposit amount from your Reliant enrollment, simply use the online application on this page.
Other Texas Utility Deposit Bonds
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Atmos Energy Deposit Bond →All Utility Bonds
Compare electric, gas and water deposit bonds in Texas.
Utility Deposit Bonds →Apply for Your Reliant Energy Utility Deposit Bond
If Reliant has assessed a deposit and you’ve chosen the surety bond option, start your application online today.
Bond availability, premium and underwriting vary by applicant and surety. Reliant determines the deposit required for your account. Lavon Insurance is an independent agency and is not affiliated with Reliant Energy.