by Sa El

June 11, 2024

No one expects a loss to happen to them.

It’s only after you find yourself on the wrong end of a theft or fire that you wish you had insurance coverage.

But, you don’t have to let it get to that point without any coverage.

ePremium offers policies through local apartments, condominiums, and housing complexes.

In this review today, I am going to show you how ePremium Insurance works, what their policies can cover, and why it’s one of the best options when searching for renters insurance for your new rental home or apartment.

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Who Is ePremium Insurance?

ePremium is a renters insurance agency based in Cincinnati, Ohio.

The company started in 2015 as a way for tenants to conveniently obtain HO4 insurance when renting or leasing.

Policies are available in all 50 states and Washington, D.C., through partnering organizations.

The partnership approach makes it challenging to gauge ePremium’s clients and credit ratings. Most ePremium clients have noted a mixed or negative experience.

The company has earned some awards, including consecutive mentions on Inc. Magazine’s list of the fastest-growing private companies in the United States, and they have an A+ rating from the Better Business Bureau.

What Makes ePremium Different?

ePremium renters insurance excels at convenience in a world where time is more valuable than ever. Policyholders don’t have to apply manually, and there is no underwriting.ePremium guarantees acceptance for all applicants, with premiums varying based on the living community.The property manager and ePremium do all the work for tenants.They determine the limits and coverage in advance, which means people in one housing complex may receive high-value item coverage while people elsewhere don’t.ePremium’s works exclusively with rental properties. It isn’t an option for homeowners.

Pros And Cons Of ePremium Renters Insurance

Below is a list of some pros and cons of ePremium’s renters insurance plan.

ePremium Review – The Pros

  • Personal liability covers most common perils
  • Guaranteed approval if you use a partner property
  • Coverage applies abroad
  • Covers roommates in the policy
  • ePremium will pay your security deposit for you

ePremium Insurance Review – The Cons

  • No same-day coverage
  • Includes payment processing fees
  • You can’t set the coverage limits
  • Limited information online

It’s easy to see, the pros outweigh the cons and honestly, isn’t that what you want in a renters insurance company? However, keep in mind that there are better options out there if you need renters insurance fast.


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Features & Benefits Of ePremium Insurance

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.


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.


Claims Process & Guarantee

Contact ePremium at (800) 319-1390 to initiate the claims process.

A customer service representative will assist you in filing your claim and receiving reimbursement. It may take up to three business days for an insurance adjuster to process your claim.

You can cancel ePremium coverage anytime by calling or visiting online if your name is on the policy.

There are no cancellation fees, and you’ll receive a prorated refund for your remaining balance. ePremium automatically renews policies at the end of a year.

ePremium Renters Insurance Availability & Options

Do you live on a property that partners with ePremium? If so, you can take out a policy. If not, you’ll have to look elsewhere for insurance coverage.

ePremium works with property managers in all 50 states.

Tenants receive guaranteed approval, regardless of their age, income, or credit score. All policies are effective for one year and don’t take effect the same day that you enroll.

ePremium Renters Insurance Alternatives

Your Best alternative to ePremium Insurance is going to be Lemonade. Not only do they offer a 100% online seamless process, but they also give you approval in minutes. You can check out our detailed Lemonade Insurance review here


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Taking Action

ePremium renters insurance stands out among insurance providers for its unique approach. The company works directly with property managers to cover tenants.

While the convenience and add-on choices are notable pluses, the price relative to competing coverages falls short. ePremium renters insurance’s pricey premium and inflexible limits make it a backup choice at best.Check out Lemonade for the most affordable renters insurance. If you are ready to get covered you can simply click here to get quotes and instantly apply online. 

About the author 

Sa El