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If you’ve heard of ePremium Insurance, it’s probably because the company has partnered with your rental community to offer an easy way to meet your renters insurance requirement. But is the most convenient option necessarily the best?
The answer: It depends. EPremium promises that all tenants will be approved for coverage without a credit check, which may make these plans a good bet for those with a checkered credit history. (In most states, renters with poor credit pay significantly more for insurance.)
Some ePremium policies also come with appealing extras that most other renters insurance companies don’t include, such as coverage for bedbug remediation or damage your pet does to your apartment. EPremium advertises average renters insurance rates of $11 to $22 a month, which are in line with the national average of $14 a month.
But ePremium renters insurance has its drawbacks, too — in particular, limited options for customizing your coverage and deductibles. If you shop around, you may be able to find more flexible coverage for a similar price.
EPremium is an agency, not an insurance company, which means it will sell you a policy underwritten by another company such as Spinnaker, Century National or Kemper.
Best for: Tenants at participating communities looking to quickly fulfill their renters insurance requirement.
EPremium renters insurance pros and cons
All applicants are approved, with no credit check.
Not available at all rental communities.
Quick online quotes available.
Few ways to customize your policy.
Some policies include coverage for pet damage or bedbug remediation.
No discounts available.
EPremium renters insurance is available in Washington, D.C., and every state except Alaska.
EPremium renters insurance coverage
Landlords sometimes require tenants to purchase a policy with a minimum amount of renters liability insurance, but otherwise, the coverage you choose is generally up to you. Below are the four types of coverage included in most standard renters policies:
Type of coverage
What it does
Covers your clothing, furniture, electronics and other belongings.
Pays for hotel stays, restaurant meals or other expenses if you have to live elsewhere while your home undergoes covered repairs.
Pays out if you're responsible for injuries to other people or damage to their property.
Covers injuries to other people in your home, regardless of fault.
For more details, see What Does Renters Insurance Cover?
Although ePremium offers these basic types of coverage, you may not be able to customize the limits for all of them. For instance, we weren’t able to change the liability limit for any of the sample quotes we got in cities across the country.
Nor were we able to select our own deductibles. Depending on where you live, ePremium may assign you multiple deductibles for different types of claims, such as theft or wind and hail. In our sample quotes, these deductibles ranged from $250 to $1,000. If you’d have trouble coming up with $1,000 in an emergency, you might be better off with another company that lets you choose a lower deductible.
Some ePremium policies include extra perks for no charge, such as $500 of coverage for damage your pet does to your apartment or $1,000 toward cleaning up a bedbug infestation.
Policies may also include replacement cost coverage, which means if your belongings are stolen or destroyed, you’ll get a high enough claim payout to buy brand-new replacements. Some insurance companies cover your stuff on an “actual cash value” basis and pay out only what your items are worth at the time of the claim. For older items, that could be a lot less than what it would cost to replace them.
If you have a pet, check whether your policy includes animal liability, which would help cover your legal expenses if your pet bites or injures someone. Some ePremium policies limit this coverage to $10,000 or don’t include it at all, but you may be able to get more animal liability insurance by contacting the company.
Depending on where you live, you may have the option to add these endorsements to your policy:
Identity fraud expense coverage, which pays expenses associated with recovering your identity.
Water backup coverage, which pays out if water backs up and damages your belongings. (This may be included in some policies.)
Increased jewelry/watches theft coverage, which provides extra insurance if your valuables are worth more than the policy’s sublimit for theft of these items.
Earthquake coverage, available in California only.
Refrigerated personal property coverage, which pays for food that spoils in a power outage.
At select properties, ePremium also offers a liability-only policy called ePremium Protect. This is a cheaper alternative to a full renters policy and will meet your community’s liability insurance requirement. However, it won’t provide any coverage for your personal belongings.
EPremium doesn’t list any discounts on its website.
Website: You can get a quote and buy your policy on the ePremium website. Once you have a policy, you can log in to make payments, view coverage information and change or cancel your policy.
App: EPremium doesn’t have a mobile app.
Renters insurance buying guide
Before you compare renters insurance companies, gather key information such as the address of the rental and any safety and security features the unit has.
You should also figure out how much coverage you need. Take a quick inventory of your belongings: How much would it cost you to replace them? Include all furniture, electronic devices, clothing, jewelry and household items. This total is the minimum amount of personal property insurance you should have.
Your liability limit should be high enough to cover your net worth, while your deductible should be an amount you’d feel comfortable paying in an emergency.
When evaluating renters insurance quotes, make sure each rate estimate includes the same coverage limits and deductibles so you know you’re getting a fair comparison. While it’s tempting to buy the cheapest policy, you may also want to read reviews of your preferred company to make sure it offers good customer service.
How to file a renters insurance claim
File as soon as it’s safe. The sooner you report a theft or damage to your home, the sooner your insurer can assign an adjuster and start working on paying out your claim. Some companies let you file claims online or through their app, while in other cases you may have to call your agent or insurer instead. Have your policy number handy.
Document the damage. Bolster your claim by taking photos or video of all damage. If something was stolen, report it to the police before you contact your insurance company. Your insurer may ask for a copy of their report.
Prevent further damage. After you’ve taken pictures of everything broken or destroyed, take steps to prevent additional damage, such as putting a tarp over a broken window to protect your belongings inside. Keep receipts for any supplies you buy, as your insurer may reimburse you later.
» MORE: The best cheap renters insurance
Other renters insurance companies to consider
Not ready to make a decision? You may be interested in these other renters insurance companies: