ePremium Renters Insurance Review For Jan 2024

Policy Limits

Policyholders have limited leeway when changing their policy limits.

ePremium sets many of the features, such as deductibles, before offering renters insurance to tenants.

Personal property protection ranges from $10,000 to $75,000, and personal liability is almost exclusively $100,000.

ePremium includes many of the standard perils associated with renters insurance.

Policyholders can file a claim for loss or damage related to fire, water damage, wind, or personal injury.

One of the distinctive offers is pest damage remediation, which property managers will either include in the base policy or feature as an add-on.

Endorsements, such as identity theft and water damage, top out at $5,000 per claim.

Earthquake insurance also has a $5,000 limit but is only available in California and requires a $750 deductible.

ePremium treats bedbugs and pet damage with reimbursements ranging from $500 to $1,000.

Policy Prices

ePremium renters insurance consistently ranks as one of the most expensive options on the market.

Tenants should expect to pay $185 to $322 for $10,000 and $50,000 worth of coverage, respectively. Most competing insurance providers offer comparable options for 30% less.

Lemonade and State Farm are two of the most popular renters insurance brands.

Lemonade policyholders pay $60 and $159 for the same coverage.

State Farm offers slightly more coverage, so policy prices are $130 and $226.

Deductibles

ePremium works with property managers to determine premiums before tenants take out policies.

One apartment may have a $400 deductible for common perils while another apartment has a $500 deductible

The variations in premiums are costly for some policyholders, who may pay more upfront for a claim.

Special Discounts

ePremium does not offer discounts to users.

The company only sells renters insurance, so there is no way to bundle policies for a lower rate.

ePremium also does not incentivize adding safety features, such as carbon monoxide detectors or security alarms, that reduce the chances of a claim.

Security Deposits

ePremium offers an eDeposit, so you pay less upfront for your lease.

You pay ePremium a one-time fee when you agree to purchase renter insurance.

ePremium pays the security deposit for you, which results in less paperwork and fewer expenses.