From our reviews, the typical monthly cost for ePremium renters insurance ranges from $11 to $22, but this varies widely by both location (state) and desired level of coverage. Rather than logging into an ePremium insurance account, you can visit your underwriter’s website to make a renters insurance coverage payment.
ePremium is an Ohio-based renters insurance agency. ePremium is a national renters insurance provider that partners with property managers to provide tenants with easy access to the coverage they need. You cannot get one of ePremium’s renters insurance policies unless your residence is a partner property.
ePremium scores highly for customer happiness but poorly for financial security and competitive pricing. The company also lacks a mobile app and offers few services through its website. There is only one possible discount, even though all of their renters insurance policies include one special perk and five others that could be useful.
The only state where ePremium’s renters insurance is unavailable is Alaska. If your landlord has added the building to ePremium, you will be able to get renter’s insurance. To find out if your building is part of the ePremium program, just type in your zip code or search for your specific apartment.
Deductibles can range anywhere from $200 to $1,000 at some properties, depending on the nature of the claim. Any legal responsibility you may have will be subject to the guidelines set forth by the rental agency.
Renters insurance through ePremium is available with a minimum coverage of $10,000 and a maximum of $70,000. A standard ePremium policy provides the following three categories of protection:
#1. Personal Property Coverage
If a covered event damages your belongings, this portion of your policy will pay to replace them. You can use the ePremium coverage calculator that is located on the company’s website to evaluate the value of your personal property and decide how much personal property coverage you need to purchase.
#2. Loss of Use Coverage
When a covered event causes sufficient damage to your property, ePremiums will pay for any additional living expenses you incur as a result of having to live elsewhere temporarily while repairs are being made. The price of a hotel room is an illustration of an additional expense related to living, such as this.
#3. Liability Coverage
This section of the policy safeguards you from lawsuits filed against you. ePremium will cover the expenses involved if your neighbor is injured or their property is damaged due to an incident for which you are found liable.
It is important to note that ePremium does not cover medical bills for other people, but most other insurance plans do.
- Identity Theft: You are covered for expenses directly associated with identity theft up to $5,000 with the ePremium identity theft coverage. You can choose this feature for $12 more per year.
- Water backup coverage: For an additional $12 a year, ePremium offers water backup coverage to shield your possessions from flooding due to a clogged sewer or drain.
- Legal Coverage for Damages Caused by Pets: All ePremium renters insurance policies include free legal coverage for damages caused by pets. It protects you if your pet damages your rental home outside of your control.
- Bed Bug Remediation Coverage: This unique coverage covers losses brought on by bed bug infestations. In addition, it is free and comes with all the policies.
- Earthquake: You can choose to have this coverage, but if you do, you will have to pay a $750 deductible. It shields your property from earthquake-related damage. Notably, you can only get this endorsement in California.
- Scheduled Personal Property: This addition to your policy covers damage resulting from losing or having valuable items stolen.
Customers of ePremium will not find any discounts available. Unfortunately, there is no option to save money by purchasing multiple policies from this provider at once. Unfortunately, ePremium renters insurance does not offer discounts like some of its competitors do. Usually, you can lower your rates by making your unit safer, buying multiple policies at once, or choosing a higher deductible.
Regardless of any savings you might be eligible for from other renters insurance companies, you will be responsible for paying the quoted prices for your property.
The monthly premium for an ePremium policy ranges from $11 to $22. In the U.S., the average cost of ePremium renters insurance is $15 a month. Additionally, ePremium claims in its advertisements that all renters will be granted coverage without having their credit checked, which may make these plans a viable choice for people with bad credit records.
However, there is no way for ePremium renters insurance customers to log in because the company does not handle their policies. Instead, they are a middleman for their underwriters.
To make a renters insurance payment, you can access your underwriter’s website instead of using an ePremium insurance login. You can find out who your underwriter will be by calling ePremium, but it will vary based on the policy you purchase and the state in which you reside. You can reach ePremium Insurance at (800) 319-1390.
ePremium does not write its policies. Instead, it mediates between property management companies and renters insured by Millennial Specialty Insurance (MSI). In turn, MSI contracts with other insurance companies to back its coverage. Different levels of satisfaction with the claims process can be expected from different underwriters. Anytime you need to file a claim, you will talk to your underwriter instead of ePremium or MSI Insurance.
Financial Stability Rating
To ensure insurers are financially stable, AM Best gives them a credit rating in one of seven categories. Although ePremium did not get AM Best’s highest rating, it did receive an A, which means that the company has the financial resources to keep its insurance promises.
Please review the following checklist to ensure you have everything you need to file a claim with your renters insurance:
- Keep track of the loss or damage that has occurred.
- Get in touch with the authorities.
- Get in touch with your landlord or property manager.
- If you have lost or had an item stolen, check for a receipt.
- To back up your claim, you might need to provide documents like a police report or receipts. Keeping notes and keeping track of your progress is crucial.
You can get help filing your claim and getting your money back from a customer service agent. A claims adjuster may need up to three business days to handle your case.
Contacting or going online at any time to cancel ePremium coverage is possible if your name is on the policy. You will not be charged anything to cancel, and you will get a refund for the amount you still owe. Insurance policies with ePremium are renewed automatically every year.
Contact ePremium Insurance’s claims service if you have suffered a covered loss and want to submit a claim. You must give the claims adjuster specifics about the incident, as well as any documentation or other information they may request.
Policyholders can submit claims whenever it is most convenient for them through the various channels provided by ePremium Insurance. You can easily submit a claim via their mobile app, website, or even by calling in to speak with a claims representative.
While ePremium Insurance does its best to swiftly resolve claims, the time it typically takes to do so can change depending on the specifics of the claim. Responding to policyholder inquiries promptly is guaranteed, though policy documents may specify processing times.
ePremium also has security deposit insurance as an additional feature. By paying a one-time, non-refundable fee, you can negotiate a lower initial rent payment with your landlord at lease signing. Then, ePremium will cover the cost of your security deposit.
With ePremium’s eDeposit option, you can reduce your initial lease payment. ePremium receives a one-time payment from you in exchange for renter’s insurance. In exchange for a small fee, ePremium will cover your security deposit, saving you time and money.
ePremium is an insurance provider for renters that works with property managers all over the United States to make it easy for tenants to satisfy their landlords’ renters insurance requirements.
Even though it did not receive AM Best’s highest rating, ePremium has been given an A- rating, which indicates that the company has the financial resources necessary to fulfill its insurance commitments.
Calling the toll-free number 800-319-1390 or selecting the “cancel policy/coverage” option on the online form are both acceptable methods for terminating your ePremium policy at any time. You will not be charged a fee for canceling your policy, and depending on how far into your plan you are, you may be eligible for a refund that is proportional to the amount you have already paid. Keep in mind that because you have paid for an entire year’s worth of coverage, you are eligible for a refund that is prorated for the months of coverage that have not yet been used.
In place of a standard security deposit, ePremium will manage a digital deposit service on your behalf under the brand name eDeposit. Putting down a security deposit is standard practice before a tenant is allowed to move into a rented unit. If you choose to purchase eDeposit, you can avoid making a full security deposit payment. By using eDeposit instead, you can significantly lower the cost of a security deposit. The money spent on eDeposit is not returnable after you leave, unlike a standard security deposit. Costs for ePremium eDeposit Protection will vary by location and policy maximum.
If you are renting a new place, you can save money by using eDeposit instead of a traditional security deposit. Damages exceeding the amount of the standard security deposit will be your responsibility.
Can you cancel Renters Insurance and get a Refund?
Different policies have different cancellation procedures and fees or refunds, so it is important to read the policy terms and conditions or call ePremium’s customer service for more information. Not forgetting that keeping continuous coverage is a good idea to protect your interests and meet any lease requirements.
When should I cancel my Renter’s Insurance?
- You can not afford your policy anymore.
- Not Enough Coverage Under the Policy
- You buy a new house.
- Moving to a different state
Conclusion
ePremium does not offer flexible coverage, customer service 24 hours a day, seven days a week, or low monthly rates. Although ePremium protects renters in some ways, it is not the strongest or even the cheapest policy available. If you want to protect expensive electronics or jewelry that has been passed down through generations, you might want to get renters insurance from State Farm or GEICO.
If you are trying to decide between ePremium and another renters insurance provider, we advise getting quotes from at least three different companies.
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