ERenterPlan Insurance Review 2024: Pros and Cons - NerdWallet (2024)

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ERenterPlan Insurance Review 2024: Pros and Cons - NerdWallet (1)

eRenterPlan

Convenient option for tenants at participating properties who want quick coverage.

Pros

  • Offers replacement cost coverage for personal belongings.
  • Can add roommates to your policy for free.
  • Rates won't go up after a claim.

Cons

  • Not available at all rental properties.
  • Some coverage limits may not be customizable.
  • May not insure tenants whose dogs have a bite history.

ERenterPlan Insurance Review 2024: Pros and Cons - NerdWallet (2)

eRenterPlan

Convenient option for tenants at participating properties who want quick coverage.

Pros

  • Offers replacement cost coverage for personal belongings.
  • Can add roommates to your policy for free.
  • Rates won't go up after a claim.

Cons

  • Not available at all rental properties.
  • Some coverage limits may not be customizable.
  • May not insure tenants whose dogs have a bite history.

About eRenterPlan renters insurance

ERenterPlan isn’t an insurance company. It’s a renters insurance policy offered at thousands of properties across the U.S., sold by an insurance agency called LeasingDesk. Your policy will be serviced by one of several insurance companies, including Markel, American Modern and American National.

It sounds confusing, but getting coverage is simple. You enter your ZIP code on the eRenterPlan website, and if your community is a participating partner, you can buy coverage online in a few minutes.

Although it may be convenient to get a policy from the company your property manager recommends, eRenterPlan may not always be your best option. Its website advertises base rates of $15 to $20 a month, which is more than the national average of $12 a month. And certain coverage limits may not be as customizable as those from other renters insurance companies.

ERenterPlan policies have their perks, but it’s worth shopping around before you buy.

Why doesn’t this company have a NerdWallet star rating?

We make every effort to rate each company we review. However, we’re sometimes unable to provide a NerdWallet star rating for insurers that work with multiple third parties to underwrite their policies. That’s because the quality of the policy you get may vary depending on the coverage options, financial strength and other factors of each separate underwriting company.

Why you can trust NerdWallet

Our writers and editors follow strict editorial guidelines that ensure fairness and accuracy in order to help you choose the financial products that work best for you. Here is a list of our partners and here’s how we make money.

Where eRenterPlan stands out

Claim forgiveness. The company says it won’t raise your rates if you file a single claim.

Unique extra coverage options. In some states, eRenterPlan offers uncommon add-ons, such as coverage for bedbug remediation or payments toward your rent if you lose your job.

Where eRenterPlan falls short

Availability. If you don’t live in a participating property, eRenterPlan won’t be available to you.

Flexibility. You may not have more than one limit to choose from when it comes to liability or medical payments coverage.

» MORE: The best renters insurance companies for 2024

State availability

ERenterPlan offers insurance at participating properties in all 50 states and Washington, D.C.

Availability may change at any time. Coverage may not be available to all renters in a given state.

ERenterPlan renters insurance coverage

Landlords sometimes require tenants to purchase a policy with a minimum amount of renters liability insurance, but otherwise, the coverage you choose is generally up to you. Below are the four types of coverage included in most standard renters policies:

Type of coverage

What it does

Personal property

Covers your clothing, furniture, electronics and other belongings.

Loss of use

Pays for hotel stays, restaurant meals or other expenses if you have to live elsewhere while your home undergoes covered repairs.

Liability

Pays out if you're responsible for injuries to other people or damage to their property.

Medical payments

Covers injuries to other people in your home, regardless of fault.

For more details, see What Does Renters Insurance Cover?

ERenterPlan offers the coverage types above, but the limits may not be as customizable as those of other renters insurance policies. As we sampled eRenterPlan quotes across six U.S. locations, we were given a liability coverage limit of $100,000 and a medical payments limit of $1,000, with no option to change either. In one instance, we had only a single choice of deductible.

While these defaults may be perfectly sufficient for some renters, those who want more options will have to shop elsewhere.

ERenterPlan policies cover your belongings on a replacement cost basis. That means if your stuff is stolen or destroyed, the company will pay out enough for you to buy brand-new replacements, rather than deducting for depreciation. Some insurers charge extra for replacement cost coverage, so this is a useful perk from eRenterPlan.

Plans also cover water damage that’s your fault.

Depending on where you live, you may be able to add the following types of optional coverage:

  • Increased limits for jewelry theft. A standard eRenterPlan policy may cover jewelry theft only up to a certain limit, such as $1,000. If you’ve got items worth more than that, you can choose a higher limit.

  • Water backup. If a sink, shower or toilet backs up into your home, this coverage pays for the damage.

  • Pet damage liability. If your pet damages your apartment, this endorsement can help pay for repairs.

  • Identity recovery. After someone steals your identity, this add-on can help you with expenses.

  • Unemployment. If you or a spouse loses a job, unemployment coverage can help pay your rent for a couple of months.

  • Bedbug remediation. This endorsement pays to clean up a bedbug infestation and replace damaged property.

  • Hurricane deductible reduction. Renters living in coastal regions may face higher deductibles for hurricane damage than for other types of claims. Selecting this option can lower that deductible.

  • Earthquake protection. This coverage pays for damage from an earthquake.

» MORE: The cheapest renters insurance

Discounts

ERenterPlan doesn't advertise any discounts, but you may be able to save on processing fees by paying your premium in full, upfront.

Consumer experience

Website: It’s easy to get a quote and buy a policy on the eRenterPlan website, though there are few details about coverage options. Existing customers can log in to view or change their policy, make payments or update credit card information.

App: There’s no eRenterPlan mobile app, but the insurer that issued your policy may offer one.

Claims: ERenterPlan doesn’t offer any information on its website about how to file a claim. You’ll need to contact the insurer who issued your policy for assistance.

Customer service: For help with your policy, you can submit a contact form on the eRenterPlan website or call 888-512-4204. (Spanish language assistance is available.)

» MORE: 6 reasons not to skip renters insurance

ERenterPlan vs. Lemonade renters insurance

The primary difference between eRenterPlan and Lemonade renters insurance is who can buy it. Only tenants at participating properties can purchase eRenterPlan policies, while Lemonade’s renters insurance is open to a broader audience. However, Lemonade’s policies aren’t available in all states.

Both eRenterPlan and Lemonade policies are easy to buy online. Unlike eRenterPlan, Lemonade has a mobile app you can use to manage your policy and file claims. Lemonade also has a unique feature called the Giveback, which donates a portion of your premium to a charity of your choice.

To learn more, read our Lemonade renters insurance review.

Current Product

NerdWallet rating

4.0/5

NerdWallet rating

4.0/5

Complaints to NAIC

No data

Complaints to NAIC

More than expected

Complaints to NAIC

Fewer than expected

Coverage options

No data

Coverage options

More than average

Coverage options

About average

Discounts

No data

Discounts

Great set of discounts

Discounts

Great set of discounts

Bottom line

Convenient option for tenants at participating properties who want quick coverage.

Bottom line

Straightforward policies from a tech-centric, mission-driven company.

Bottom line

Liberty Mutual offers standard renters insurance coverage with several ways to customize.

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Other renters insurance companies to consider

Not ready to make a decision? You may be interested in these other renters insurance companies:

  • Amica.

  • Geico.

  • Liberty Mutual.

  • State Farm

I'm an insurance expert with in-depth knowledge of renters insurance policies and providers. My experience includes a thorough understanding of coverage types, policy options, and considerations for tenants. Now, let's delve into the concepts mentioned in the article you provided.

The article discusses eRenterPlan, a renters insurance policy offered at various properties across the U.S. It is not an insurance company itself but is sold by an agency called LeasingDesk, with several insurance companies servicing the policies, including Markel, American Modern, and American National.

Here are the key concepts covered in the article:

  1. Coverage Overview:

    • eRenterPlan provides coverage for personal property, loss of use, liability, and medical payments, which are standard components of renters insurance policies.
    • The coverage limits may not be as customizable as those of other renters insurance companies.
  2. Policy Purchase Process:

    • To purchase a policy, tenants can enter their ZIP code on the eRenterPlan website, and if their community is a participating partner, coverage can be bought online within minutes.
  3. Pros and Cons:

    • Pros include replacement cost coverage for personal belongings, the option to add roommates for free, and a promise not to raise rates after a single claim.
    • Cons involve higher base rates compared to the national average, limited customization of coverage limits, and non-availability at all rental properties.
  4. NerdWallet Rating and Trustworthiness:

    • NerdWallet doesn't provide a star rating for eRenterPlan due to its association with multiple third parties for underwriting policies. The quality may vary depending on the underwriting company.
  5. State Availability:

    • eRenterPlan offers insurance at participating properties in all 50 states and Washington, D.C.
  6. Optional Coverage and Endorsements:

    • eRenterPlan offers unique optional coverages, such as bedbug remediation, identity recovery, unemployment coverage, and hurricane deductible reduction.
  7. Discounts:

    • The article does not mention specific discounts advertised by eRenterPlan, but tenants may save on processing fees by paying the premium in full.
  8. Consumer Experience:

    • The eRenterPlan website makes it easy to get a quote and purchase a policy, though it lacks detailed information about coverage options.
    • There's no mobile app for eRenterPlan, but existing customers can log in to manage their policy online.
  9. Comparison with Lemonade Renters Insurance:

    • A comparison with Lemonade reveals that eRenterPlan is limited to tenants at participating properties, while Lemonade is available to a broader audience.
    • Lemonade has a mobile app, offers a unique Giveback feature, and is open to customization in more states.
  10. Bottom Line:

    • eRenterPlan is presented as a convenient option for tenants at participating properties who seek quick coverage.

This comprehensive overview should give you a solid understanding of eRenterPlan and the factors to consider when evaluating renters insurance options. If you have any specific questions or need further clarification on certain aspects, feel free to ask.

ERenterPlan Insurance Review 2024: Pros and Cons - NerdWallet (2024)
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