Industry Experience

Many years of serving the multifamily housing industry has enabled the development of ePremium’s innovative risk mitigation suite designed exclusively to protect apartment properties and increase profitability.

Technology

ePremium has combined our state-of-the-art technology with our industry knowledge to deliver the innovative web platform IRIS. This platform is free to our clients and allows for easy insurance enrollment, detailed policy tracking and monitoring, and enterprise level reporting.

Major Insurance Underwriters

ePremium has partnered with major insurance underwriters to provide best-in-class renters insurance products that have been customized to meet our client’s coverage needs. Our underwriting business partners have superior financial ratings and long histories of accelerated claim payments.

Customer Service

Our team at ePremium will work with your leasing staff to manage the program on an ongoing basis. We will put our extensive experience in the multifamily housing industry to work for you and your residents.

ePremium eDeposit - Security Deposit Insurance

Company Benefits

  Reduce move-in costs while retaining financial protection
  Increase Occupancy
  Gain a competitive marketing advantage
  Enable coverage increases in markets with traditionally low security deposits
  Management report suite and full monitoring capabilities

How Does it Work?

New residents can choose to purchase eDeposit insurance in lieu of paying the full traditional security deposit. The premium is much less than the full deposit amount thereby significantly reducing out-of-pocket expenses for the resident upon move-in. If a loss is sustained that would typically be reimbursed through traditional security deposit funds, the deposit insurance provides payment for monies owed up to the limits of the policy.

eDeposit FAQs

What is Security Deposit Insurance?

Security Deposit Insurance is a bond insurance policy naming the Property Management Company or Owner as the insured. The signed agreement provides coverage to the insured in the case the resident does not meet their lease obligation (up to the stated coverage amount.) The resident pays a one-time (life of the lease) non-refundable premium that is a small percentage of the required security deposit.

What is the cost to the Property Management Company or Owner?

There is no cost to the Property Management Company or owner. The Security Deposit Insurance premium is paid at lease signing or renewal by the resident. And there is no activation cost to the Property Management Company or Owner for this program.

If the resident moves, can they transfer the coverage to another apartment?

Yes. They can transfer the coverage to another apartment within the same community; or, they can transfer the coverage to another apartment in a different community that is also participating in the PM / Owner’s eDeposit Program.

Can eDeposit be implemented at Affordable Properties?

Yes. They can be used at most HUD properties (not Section 8 properties.)

How to Start Offering eDeposit?