Renters Insurance FAQs

Why do I need Renters insurance

You need renters insurance to protect you if any of your furniture, electronics, books, or other belongings get damaged or destroyed. Renters insurance also provides liability coverage which protects you in the event you negligently damage property of others or even negligently damage the apartment community. Many apartment communities, property managers or landlords require this liability coverage as a condition of residency.

Do I need Renters insurance even if my landlord has insurance?

Yes, although your apartment community, property manager or landlord carries coverage for the physical building itself, there is no coverage for your personal belongings and in the event you cause damage to your rental location, or other apartment property, you may be financially obligated to reimburse your apartment community, property manager or landlord for those damage repairs.

Do I need Renters insurance if I rent a condo, co-op, or house?

Yes, renters insurance is important as long as you rent your residence. It applies the same whether you rent an apartment, condo, co-op, or house.

How much does Renters insurance cost?

Renters insurance costs less than you think. Depending on the state in which you live and the coverage level you select, the average policy cost ranges from $11-$22 per month. You can call our office at (800) 319-1390 to get the price for your rental location.

Can my policy start the same day I enroll?

No, policies purchased through ePremium Insurance Agency, LLC do not start on the same day as purchase. The earliest available start date is 12:01 AM CST on day after purchase. See your fulfillment to confirm effective date of coverage.

How do I get my log in information?

Use our Need Help with Login link to lookup instructions on accessing your policy online.

What do I need to do if I need to change the effective start date on my policy?

Depending on the type of policy you have, we may be able to change the effective date. Call our office at (800) 319-1390 for more information about your specific policy.

How can I make a payment on my policy?

You can make a payment online through our Make Payment link. All monthly payments must be authorized for automatic draft upon initial policy enrollment. We do not send out paper bills.

Can I mail in a missed payment?

Please contact our customer service team at (800) 319-1390 to check into payment options.

How do I make changes to my policy?

You can call our office at 800-319-1390 to make any changes to your policy. Additionally, you can do the following online:

Who can update my policy?

Only the named insured(s) listed on the policy may make updates.

What if I do not have much personal property?

Renters insurance is still important even if you don’t have much personal property, because chances are your personal property is worth more than you think. Additionally, renters insurance includes legal defense, medical payments to others, claim expenses, first aid expenses, and/or damage to property of others.

Is my car considered personal property?

No, your car is not covered by renters insurance offered through our agency. Claims for damage done to your car should be filed with your automobile insurance provider.

How often does pricing change for insurance?

ePremium Insurance Agency, LLC does not control the price changes for policies. The policy underwriters and carriers control pricing. States may also require rate changes for policies from year to year.

Does my policy cover water damage?

ePremium policies do list water as a covered peril. See full policy for details including exclusions and limitations. Renters insurance is not a natural disaster flooding insurance policy. Contact a licensed agent to discuss Federal Flood insurance.

How do I file a claim?

Call our office at (800) 319-1390 to get the process started. Our customer service team will submit a claim on your behalf for your loss. It can take up to 72 business hours for an adjuster to be assigned and reach out to you, depending on your claim.

Will I get enough money to replace my stuff if it gets damaged or destroyed?

The outcome will depend on whether or not your policy provides for actual cash value (ACV) or replacement cost coverage (RC). Actual cash value coverage reimburses you based on the amount of money the item was worth at the time of loss; thus, ACV coverage factors in depreciation. Replacement cost coverage reimburses you based on the amount of money needed to replace a damaged item with a new one of similar value and quality. As you would expect, RC coverage is more expensive than ACV, but it's usually worth it. For example, think about what would happen if your computer, television, or stereo system were destroyed. If you only had ACV coverage, you would probably run far short of what you would need to properly replace these expensive items.

Will I get paid to cover expenses for temporary relocation?

Renters insurance normally covers your living expenses if you must temporarily relocate because of extensive damage to your rental location. The adjuster assigned to your claim determines how this coverage could be applied to your temporary relocation. No payments will be issued up front for relocation. Policy holders need to keep receipts and other records to support their claim.

What happens to my renters insurance policy if I move?

If you purchase a renters insurance policy and then move to a different rental location, contact ePremium Insurance Agency, LLC to see if your policy is transferable. Be aware that your policy could be subject to a change of premium. Inform our customer service team of your upcoming move and provide your new address and effective date to ensure uninterrupted coverage.

How and who can cancel my policy?

Renters insurance policies offered through ePremium Insurance Agency, LLC are issued for a one-year term. If you wish to cancel during the policy term, you can request cancellation online. There are no cancellation fees and if applicable, a prorated refund may be issued back to you. Each year the policy will automatically renew until policy cancellation is requested. Only the named insured(s) listed on the policy can request policy cancellation.

How do I cancel my policy?

You can cancel at any time using our request cancellation online link. At that time, it will be determined if a prorated refund is due back to you for any unused premium. If you want to backdate a cancellation, you must call our office at (800) 319-1390 and provide evidence of current coverage with limits equal or greater to the policy purchased through ePremium Insurance Agency, LLC. Your leasing office or management company cannot cancel your policy.

Do I have to purchase a policy from ePremium Insurance Agency, LLC?

No, you do not have to purchase a policy through ePremium Insurance Agency, LLC. In your lease agreement it might state you are required to keep insurance during the duration of your lease and provide evidence of minimum coverage requirements. When you purchase coverage through ePremium Insurance Agency, LLC, all of your minimum requirements are met automatically, and it makes the enrollment process simple and quick!

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