ePremium Insurance Review & Complaints: Renters Insurance (2024)

Having home insurance is critical to protecting the structure of your house and your possessions. Also, renters insurance policy can help you repair or replace your furniture, your electronics, and even clothes if they are damaged in a covered loss. Even better, renters insurance is less expensive than a homeowners insurance policy.

More people rent rather than buy a home these days, and ePremium advertises that it can offer the protection to keep yourself and your possessions safe. Landlord and property managers also partner with ePremium to give tenants easy access to a renters insurance policy. Still, ePremium may not be the best fit for every renter since its policies can be costly and don’t allow much customization. (For more information, read our “Renting vs. Buying: Is it Better to Rent or to Own a Home?“).

Check out the renters insurance buying guide and the coverage and rate per policy to determine ePremium’s accessibility and more. This vital information will help you decide if ePremium is the right company for you. As you learn more about ePremium, you can get started on the hunt for your next renters policy. Enter your ZIP code to start comparing free quotes right away.

Read more: Renters Insurance Coverage: An Expert Guide

What is the ePremium Insurance Company?

ePremium opened its doors for business in 2005, and its head office is located in Mason, Ohio. ePremium provides renters insurance in 49 states, but its operating procedure is different from most insurance companies.

It’s not uncommon for individual agents to leave their business cards in the main lobby of an apartment building with hopes of attracting new clients. However, ePremium goes out of its way to form partnerships with property managers and landlords so tenants can easily purchase a required renters insurance policy.

Of course, a property manager cannot tell you where to buy a renters insurance policy. For example, suppose you moved into an apartment and were required to purchase a renters policy. In this case, your landlord may recommend ePremium, but you are well within your rights to shop around for a policy that fits your specific needs.

Now that you know more about ePremium let’s look at the coverages ePremium has available for renters.

What types of coverage does ePremium Insurance provide?

Consumers who love to customize their policies will be disappointed to learn that ePremium doesn’t offer much customization. In fact, your landlord may have more control over your policy than you because your landlord dictates your coverage features and even your deductible amount.

If you’re shopping for coverage with ePremium, you’ll be able to choose between $10,000 to $75,000 in personal property protection. Depending on where you live, you may only be able to purchase as much as $70,000 in insurance. Also, your liability limits are typically fixed at $100,000.

While ePremium policies are restrictive when it comes to coverage, an ePremium renters policy will grant you:

• Personal property protection
• Personal liability coverage
• Medical payments
• Loss of use coverage

These are the standard coverages provided by most renters insurance policies. Once you start comparing renters quotes, you’ll notice that many ePremium competitors offer other coverages that protect against inflation and even identity theft.

Does ePremium offer additional coverages?

In some locations, ePremium provides intriguing extra features that other major insurance companies don’t offer. These include:

• Bedbug coverage
• Replacement cost coverage for personal belongings
• Security deposit insurance

While having a little extra coverage is good, it bears repeating that these three coverages don’t always come free with an ePremium policy. You may have to pay an additional amount to add them to your renters policy in some locations.

Read more: Renting vs. Buying: Is it Better to Rent or to Own a Home?

How much is ePremium renters insurance?

The average annual rate for a renters policy through ePremium is $239. This rate is quite high, especially compared to competitors like Allstate, which charges renters just $146 for the year, and Lemonade, which advertises renters insurance policies starting at just $60 per year. (For more information, read our “Lemonade Insurance Review & Complaints: Renters, Home, Condo & Co-op Insurance“).

Even more unfortunate, you can’t lower your ePremium payment by adding discounts to your policy because ePremium doesn’t offer discounts.

Typically, you can receive a discount on your policy if you:

• Have a security system
• Have no claims
• Don’t smoke
• Pay in full
• Get paperless billing
• Bundle a renters and car insurance policy

These days, people want to save as much money as possible, but since ePremium doesn’t offer discounts or additional coverage options, you could end up paying more for a very basic renters policy.

ePremium Claims Process

Ease of Filing a Claim

ePremium Insurance offers multiple channels for filing claims, ensuring convenience for policyholders. You can file a claim online through their website, over the phone by speaking to a claims representative, or using their mobile app for a seamless experience.

Average Claim Processing Time

While ePremium Insurance aims to process claims efficiently, the average claim processing time can vary depending on the nature and complexity of the claim. Policyholders can expect timely responses, but specific processing times may be outlined in your policy documents.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback is crucial in evaluating the effectiveness of an insurance company’s claim resolutions and payouts. While individual experiences may vary, it’s advisable to review customer reviews and testimonials to gauge how ePremium Insurance handles claims and whether policyholders are satisfied with their claim outcomes.

Digital and Technological Features of ePremium

Mobile App Features and Functionality

ePremium Insurance provides a mobile app that offers a range of features and functionality to enhance the customer experience. These may include policy management, claim filing, access to digital insurance documents, and tools for estimating coverage needs. The app is designed to make it easy for policyholders to interact with their insurance on the go.

Online Account Management Capabilities

Policyholders can manage their insurance policies conveniently through ePremium’s online account management platform. This includes tasks such as updating personal information, reviewing policy details, making payments, and accessing policy documents. The online portal is designed to streamline policy management for users.

Digital Tools and Resources

ePremium Insurance may offer digital tools and resources to assist policyholders in understanding their coverage, assessing their insurance needs, and making informed decisions. These resources could include educational materials, calculators, and informative articles to empower policyholders with valuable information related to their insurance policies.

ePremium Insurance: The Bottom Line

Renters insurance allows you to insure yourself and your belongings from unforeseen events. While ePremium provides basic protection for renters, it is not the most robust or even the cheapest policy on the market. If you have expensive electronic equipment or heirloom jewelry to protect, you may be better off purchasing a State Farm or GEICO renters insurance policy.

Not only do these policies tend to provide more extensive coverage, but you can also bundle your renters insurance with your car insurance and receive a discount.

Now that you’ve finished this detailed ePremium review, you’re ready to start shopping for renters insurance. You can enter your ZIP code to compare free quotes from companies near you.