diff --git a/homeassistant/components/bond/__init__.py b/homeassistant/components/bond/__init__.py
index 50025adbc1a..b9c1c90e1af 100644
--- a/homeassistant/components/bond/__init__.py
+++ b/homeassistant/components/bond/__init__.py
@@ -1,18 +1,22 @@
 """The Bond integration."""
 import asyncio
+from asyncio import TimeoutError as AsyncIOTimeoutError
+import logging
 
-from aiohttp import ClientTimeout
+from aiohttp import ClientError, ClientTimeout
 from bond_api import Bond
 
 from homeassistant.config_entries import ConfigEntry
 from homeassistant.const import CONF_ACCESS_TOKEN, CONF_HOST
 from homeassistant.core import HomeAssistant
+from homeassistant.exceptions import ConfigEntryNotReady
 from homeassistant.helpers import device_registry as dr
 from homeassistant.helpers.entity import SLOW_UPDATE_WARNING
 
 from .const import DOMAIN
 from .utils import BondHub
 
+_LOGGER = logging.getLogger(__name__)
 PLATFORMS = ["cover", "fan", "light", "switch"]
 _API_TIMEOUT = SLOW_UPDATE_WARNING - 1
 
@@ -30,7 +34,11 @@ async def async_setup_entry(hass: HomeAssistant, entry: ConfigEntry):
 
     bond = Bond(host=host, token=token, timeout=ClientTimeout(total=_API_TIMEOUT))
     hub = BondHub(bond)
-    await hub.setup()
+    try:
+        await hub.setup()
+    except (ClientError, AsyncIOTimeoutError, OSError) as error:
+        raise ConfigEntryNotReady from error
+
     hass.data[DOMAIN][entry.entry_id] = hub
 
     device_registry = await dr.async_get_registry(hass)
diff --git a/tests/components/bond/common.py b/tests/components/bond/common.py
index 229a9f31dfe..1a37455b338 100644
--- a/tests/components/bond/common.py
+++ b/tests/components/bond/common.py
@@ -73,7 +73,9 @@ async def setup_platform(
     return mock_entry
 
 
-def patch_bond_version(enabled: bool = True, return_value: Optional[dict] = None):
+def patch_bond_version(
+    enabled: bool = True, return_value: Optional[dict] = None, side_effect=None
+):
     """Patch Bond API version endpoint."""
     if not enabled:
         return nullcontext()
@@ -82,7 +84,9 @@ def patch_bond_version(enabled: bool = True, return_value: Optional[dict] = None
         return_value = {"bondid": "test-bond-id"}
 
     return patch(
-        "homeassistant.components.bond.Bond.version", return_value=return_value
+        "homeassistant.components.bond.Bond.version",
+        return_value=return_value,
+        side_effect=side_effect,
     )
 
 
diff --git a/tests/components/bond/test_init.py b/tests/components/bond/test_init.py
index b75f1bbac8c..6b0cf2b287e 100644
--- a/tests/components/bond/test_init.py
+++ b/tests/components/bond/test_init.py
@@ -1,8 +1,13 @@
 """Tests for the Bond module."""
+from aiohttp import ClientConnectionError
+import pytest
+
+from homeassistant.components.bond import async_setup_entry
 from homeassistant.components.bond.const import DOMAIN
 from homeassistant.config_entries import ENTRY_STATE_LOADED, ENTRY_STATE_NOT_LOADED
 from homeassistant.const import CONF_ACCESS_TOKEN, CONF_HOST
 from homeassistant.core import HomeAssistant
+from homeassistant.exceptions import ConfigEntryNotReady
 from homeassistant.helpers import device_registry as dr
 from homeassistant.setup import async_setup_component
 
@@ -18,6 +23,17 @@ async def test_async_setup_no_domain_config(hass: HomeAssistant):
     assert result is True
 
 
+async def test_async_setup_raises_entry_not_ready(hass: HomeAssistant):
+    """Test that it throws ConfigEntryNotReady when exception occurs during setup."""
+    config_entry = MockConfigEntry(
+        domain=DOMAIN, data={CONF_HOST: "some host", CONF_ACCESS_TOKEN: "test-token"},
+    )
+
+    with patch_bond_version(side_effect=ClientConnectionError()):
+        with pytest.raises(ConfigEntryNotReady):
+            await async_setup_entry(hass, config_entry)
+
+
 async def test_async_setup_entry_sets_up_hub_and_supported_domains(hass: HomeAssistant):
     """Test that configuring entry sets up cover domain."""
     config_entry = MockConfigEntry(