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EPremium renters insurance review
Get coverage you might not find anywhere else — if your rental community qualifies.
- Get a quote if your community is a partner.
- Pick something else if you need a more customized policy or lower rates.
- Renters of all backgrounds and claims histories accepted within partnering communities.
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All 50 states
Available states
24/7 claims
Online quotes
Details
Pros
- Liability covers damage you cause to the rental
- Guaranteed approval within partnering communities
- Worldwide contents protection
- Covers roommates added to your policy
Cons
- No same-day coverage
- Payment processing fees
- Coverage limits set by your community
- Limited coverage information online
| New home discount discount | No |
|---|---|
| New homeowner discount | No |
| Home safety features discount | No |
| New policy discount | No |
| Bundling discount | No |
| No claims discount | No |
| Other discounts | No |
| Personal property coverage | Yes |
|---|---|
| Valuable personal property | Yes |
| Theft coverage | Yes |
| Fire coverage | Yes |
| Flood coverage | No |
| Identity theft coverage | Yes |
| Homesharing | No |
| Dwelling coverage | No |
Review by
Sarah George
sarah.george@finder.comSarah George is an insurance writer at Finder who’s penned over 400 articles, unraveling complicated topics about car, home and life insurance. Her insurance know-how has been featured in online publications, including Breeze, CBS, CNET and Reviews.com, as well as Finder’s YouTube channel. Sarah is working to become a Certified Educator in Personal Finance (CEPF).
Expert review
Epremium has unique features you won’t get with other providers, like coverage to help you pay your security deposit and damage you cause to your space. Other add-ons don’t cost much extra per month either, like water backup or identity theft protection.
However, your community manager sets the types of coverage, policy limits and deductibles. That means not all the coverage listed above will be offered, and you can’t adjust deductibles as you would with other insurers.
Despite those downsides, this policy may work for those wanting the unique features when they’re available or those looking to add roommates to their renters insurance. Otherwise, another renters insurance policy may work better.
What renters insurance coverage does EPremium offer?
EPremium beefs up standard coverage to include damage you cause to your rental, and sometimes even pet damage. Plus, you can protect your belongings no matter where you travel in the world. Coverage includes:
- Personal liability. This coverage protects you for damage you cause to someone else’s property or for legal expenses.
- Medical payments. Pay medical bills for others injured at your rental home or apartment.
- Pet liability. In some areas, you can cover expenses or legal fees if your pet causes damage or injuries. This may also include damage your pet causes to the rental.
- Personal contents. Protect your personal belongings anywhere in the world.
- Water damage from backups. Pay as little as $1 per month for water damage protection if it’s caused by drain backups or sewer overflows. That includes damage caused by residents.
- Contents replacement cost. Some policies replace your belongings at today’s cost of buying another similar item.
- Loss of use. Reimburse extra living expenses if you have to move out of your rental because of damage.
- Identity fraud. Pay as little as $1 extra per month to protect against fraudulent charges and expenses related to your stolen identity.
- Bed bug remediation. Pay to remove bed bugs from your furniture and rental property using professional services.
What renters insurance discounts can I get with EPremium?
EPremium doesn’t list any discounts. The company likely adjusts rates to your specific area and coverage chosen.
How does EPremium renters insurance work?
EPremium partners with apartment, condo and housing communities in your area to offer policies as an option to its residents. EPremium works with the property manager to set the coverage, options, policy limits and deductibles. Its policies are backed by a number of companies, but one of its underwriters is Millennial Specialty Insurance or MSI.
Your community may decide to offer basic coverage with low limits or allow you to customize some aspects of the coverage. Other communities may include limited coverage with your rent. In these cases, you only need a policy if you prefer separate coverage or higher coverage limits.
What is EPremium security deposit insurance?
EPremium also offers an option to help you pay your security deposit. You may pay a few hundred dollars to get security deposit coverage up to the amount required by your property manager. If you cause damage, EPremium pays for the damage up to the limit. However, you’re responsible for any damage that exceeds the limit.
Again, this policy depends on whether your rental community accepts this coverage. The amount paid is also nonrefundable, even if you don’t cause any damage to the rental property. The benefit of this coverage is that it lowers your upfront moving costs.
Pros and cons of EPremium renters insurance
Pros
- Offers security deposit insurance. Take out a policy to cover your security deposit and pay for damage to your rental, a coverage not offered by other providers.
- Guaranteed approval. The company claims that every applicant is accepted, but eligibility depends on whether your community partners with EPremium.
- Worldwide contents coverage. Travel with protection for your belongings anywhere you go.
- Can cover roommates. Your roommates may be eligible for coverage if you add them to your policy.
Cons
- No same-day coverage. Your policy won’t start immediately, a perk that some other insurers offer.
- Rates aren’t the cheapest. On its site, EPremium claims average rates are around $11 to $22 per month. But if your rate is on the higher end of that range, you could find lower rates from another insurer.
- Payment processing fees. You’ll pay $1 each month for monthly payments or $5 for annual payments.
- Coverage not always customizable. When applying online, EPremium states the coverage and limits available to you based on the limits selected by your community. You have little room to adjust for your needs.
- Confusing website information. The company’s website has limited information about coverage. Also, it guarantees approval but only for residents within partnering communities.
EPremium renters insurance reviews and complaints
Customers rate the company about 4.6 out of 5 stars with over 968 Google reviews as of October 2020. However, the reviews are mixed. Some residents find it difficult to cancel their policies, criticize the high prices and claim the company has a long wait time.
Other residents and managers tout the company’s quick claims process and helpful staff, calling out specific representatives they enjoy working with. The company holds an A+ business rating from the Better Business Bureau, but it doesn’t have customer reviews on the BBB.
How to apply for EPremium renters insurance
EPremium keeps its applications simple with a few steps online or by phone:
Online
- Go to the EPremium website and enter your ZIP code. Click View prices.
- Select your apartment community from the dropdown. Click Enroll now.
- Choose a policy start date and upload proof of your current renters insurance coverage, if applicable. Click Continue.
- View the coverage offered by your property manager or landlord. Click Continue.
- View your initial quote and fill in your personal information. Click Continue.
- Fill in your payment information and click Continue.
- Review your completed application and finalize.
Phone. Call 800-319-1390 to talk with a customer representative.
What info do I need to apply for renters insurance?
Keep basic details on hand for a speedy renters application process:
- Name
- Address
- Phone number
- Spouse or roommate names
- Apartment or housing community name
- Policy start date
- Coverage needed
- Payment details