Our rating: 3.35 out of 5

Year founded: 2011

J.D. Power rating: Not rated

AM Best rating: A+/A*

State availability: 50

*AM Best ratings are accurate as of August 2023. Rating varies by underwriter. American Modern Insurance Group carries an A+ rating. Markel and American National Property and Casualty Company carry an A rating.

ERenterPlan renters insurance is available in participating properties across all 50 states and Washington, D.C. Depending on a property’s location, policies may be underwritten by one of three companies: American Modern Insurance Group, Markel or American National Property and Casualty Company.

According to the eRenterPlan.com website, coverage rates start between $15 and $20 per month. This is at the high end of the national average of $180 a year, or $15 a month, and does not include any add-ons or higher coverage limits. Additionally, a lack of discounts means policyholders do not have opportunities to save on premiums outside of increasing deductibles.

Some factors that might increase renters insurance rates include:

• Credit score: Renters with a favorable credit score often pay lower rates than those with a low score. This is because your credit rating is an indicator of your financial responsibility. Insurance providers consider individuals who have trouble managing finances a greater risk. If your credit score is impacting your insurance premiums, consider taking steps to improve it by requesting a free copy of your credit report and reviewing it for errors.
• Claims history: Much like with your credit score, several previous home or renter’s claims can label you at higher risk of filing a claim in the future. This will almost always increase your rate. A nice feature of eRenterPlan is that they will not increase your insurance rates for filing a single claim.
• Chosen coverage limits: Your renters insurance’s personal property coverage should be sufficient to pay for the loss of all your significant personal property (and possibly your roommates’ property). You should also be comfortable with the level of liability coverage your renters insurance provides. However, the amount of insurance you purchase directly impacts how much you pay for it. Low initial quotes may only include minimum coverage limits that are insufficient for your situation, so be sure to check those figures and make adjustments when requesting free quotes. Also, you should keep in mind that you may not be able to customize coverage limits with eRenterPlan policies in some locations.
• Rental location: The location of a rental affects how much of a risk it poses. For example, high crime rates and frequent natural disasters can increase premiums. On the flip side, rental insurance for homes in areas not prone to flooding, hurricanes or fires may have lower premiums.
• Pets: Some rental policies, including those with eRenterPlan, cover pets. Coverage ranges from paying for a limited amount of pet damage to your property to liability protection if a dog bites someone. eRenterPlan does not maintain a restricted breed list, so it is a good choice for tenants who have a dog whose breed is classified as aggressive elsewhere. However, eRenterPlan may refuse coverage for a dog with a history of aggressive behavior or biting.
• Deductibles: This is how much you pay out of pocket after a claim before your insurance kicks in. ERenterPlan policies have a $250 deductible, which is lower than many competitors’ basic plans.

ERenterPlan Discounts

Unfortunately, eRenterPlan does not offer discounts for its renters insurance products. Policyholders who share living space can save by adding roommates to a single policy and sharing premium costs. Additionally, customers may save a small amount on fees by paying an annual premium upfront.

• Personal property: An eRenterPlan covers all of your personal belongings. Whether they become lost, stolen or damaged by a covered event, your renters insurance will pay to replace them thanks to full replacement cost coverage — a perk you shouldn’t ignore.

• Additional living expenses: If your rental unit becomes uninhabitable due to a covered event, such as flooding or storm damage, your renters insurance will pay to ensure you have a place to stay. Hotels and meals are common expenses covered by the loss of use portion of a renters policy, which you can set up to pay up to 100% of your personal property limits.
• Personal liability: If someone suffers an injury or damages personal property in your rental unit, you could be liable for those damages. Personal liability insurance covers expenses related to any claims or medical care resulting from such an accident.
• Roommates: If you want to share your policy with a roommate or two (or four), eRenterPlan understands. You may add up to four roommates, plus yourself, to a single policy without incurring an additional charge. You should keep in mind that coverage limits will apply to everyone’s property and liability, so you may need to increase your limits.
• Water damage: If your stuff gets damaged by water, even if it was your fault, your policy will pay to repair or replace them.
• Dog bites: Renters with high-risk dog breeds will appreciate eRenterPlan’s willingness to cover all breeds. They do restrict coverage on animals with a history of aggressive behavior and biting, however.

Additional Coverage

An eRenterPlan policy offers minimal add-ons and customizations to policies. These may vary depending on your location, the underwriting company and your leasing office requirements. Available endorsements might include:

• Pet damage: Sometimes pets do things you wish they wouldn’t, like chew up the carpet or use the living room as a litter box. When that happens, eRenterPlan has you covered with pet damage protection.

• Identity recovery: This extra can help cover expenses related to recovering from identity theft.

• Bed bug remediation: A bed bug infestation requires professional treatment, this extra coverage pays for remediation services to remove bed bugs from your apartment.

• Jewelry: eRenterPlan offers additional coverage for expensive jewelry.

• Earthquake protection: This pays for personal property damage from an earthquake.

• Hurricane policy deductible reduction: If you have a separate hurricane deductible, this add-on can lower the amount you pay out of pocket after a storm.

eRenterplan is a relatively new offering by LeasingDesk and has not received customer reviews on trusted third-party sites. Comments that are available mention affordability and helpful customer service reps. However, several negative eRenterPlan reviews discuss poor communication with claims adjusters and problems canceling automatic payments.

If you need a convenient renters policy that offers comprehensive coverage and your leasing office is a preferred provider of eRenterPlan, then it may be a good choice. However, its rates tend to be higher than national average, so you may pay more for coverage than if you opt for a cheaper renters insurance provider. A lack of discounts makes those rates even less favorable compared to competitors.

We rate eRenterPlan 3.35 out of 5. It has several positive qualities, and many policyholders appear satisfied with their coverage and claims handling. However, it lacks some features that competitors provide and outside companies handle policy underwriting and claims processing.

Not sure if eRenterPlan is the right renters insurance for you? These companies may be a better fit:

Lemonade offers comparable coverage and a similar online experience at a lower cost. The addition of a mobile app makes it even more accessible. It is an excellent choice for renters looking to get affordable and customizable coverage; however, coverage is not available in all states. We rate it 4.3 out of 5 for low costs, ease of use and high customer satisfaction scores.

Nationwide is an excellent renters insurance company that provides comprehensive coverage, multiple discounts and an easy-to-use quoting and policy management system. Its premiums tend to be slightly higher than competitors, but it offers numerous discounts to help policyholders save. We rate Nationwide 4.55 out of 5.

State Farm is the largest U.S. provider of home insurance. It offers excellent personal property and liability coverage, customization options and excellent customer service. State Farm’s rates are about average compared to similar companies. It also offers a significant discount for bundling home and auto insurance products, which can reduce premiums even further. We rate it 4.45 out of 5.

Bradford Cuthrell is a meticulous researcher and writer specializing in pet and home finance topics. He’s surveyed thousands of pet owners and homeowners, listened to hundreds of customer service calls from various home service companies and spoken with dozens of industry experts to understand homeowners’ common pain points and needs. When he’s not helping his readers make informed decisions, he’s reading a book a week, planning a camping trip or working on his novel draft.

Ryan Lasker is a financial writer and editor with bylines in Morning Brew, The Motley Fool, and several more. As a certified public accountant, he leverages his technical expertise in personal finance and tax to fuel his passion for teaching financial literacy. When he’s not writing, editing or working in a spreadsheet, he’s biking the D.C. trails or reading.