Security Deposit Alternative through ePremium eDeposit is a great alternative to your traditional security deposit and can save you money upon move-in.
ePremium eDeposit is Insurance
ePremium eDeposit allows you to move into your new home at a lower cost while providing coverage for damages you cause to your new home up to your coverage limit. You will be responsible for any additional monies that exceed your ePremium eDeposit alternative coverage limit.
How ePremium eDeposit Works
In order to move into your new home, you are required to pay a security deposit. Instead of paying the full security deposit, you can purchase security deposit alternative through ePremium eDeposit. ePremium eDeposit will offer coverage equal to that of the traditional security deposit amount but at a fraction of the cost.
Let’s say your community charges a security deposit of $1,000. Instead of paying the full security deposit, you can purchase ePremium eDeposit coverage for just $250. Upon move-out, you will not receive the $250 back as a refund, but you saved $750 in move-in costs.
The price of ePremium eDeposit coverage will vary based on your community and the coverage limit purchased.
ePremium eDeposit is Optional
It is your choice to pay either the full security deposit to your property manager or purchase ePremium eDeposit coverage. Both options fulfill your security deposit lease requirement.
ePremium eDeposit is NOT Refundable
Unlike a traditional security deposit that is refundable upon move out, the purchase of ePremium eDeposit is non-refundable.
ePremium eDeposit is Good for the Life of your Lease
ePremium eDeposit is good for the duration of your lease, up to five (5) years. You don’t need to worry if you renew your lease or change units within the community within five (5) years.
Bundled with ePremium RENTERS
ePremium eDeposit is only available at participating apartment communities offering our RentersPLUS package. Before you can purchase ePremium eDeposit, you must first purchase an ePremium RENTERS policy (or qualified ePremium PROTECT insurance product).