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eRenterPlan

Editor's Rating

eRenterPlan provides a renters insurance policy that may be offered to you by your property manager when you sign a new lease. Although signing up for eRenterPlan can be an easy way to fulfill requirements to obtain renters insurance, we recommend you review other insurers for cheaper and more comprehensive policies.

Good for
  • Owners of high-risk dog breeds
  • Sharing a policy with roommates
Bad for
  • Renters seeking the cheapest rates
  • People who want high coverage limits
  • Those who need reliable customer service

eRenterPlan renters insurance: Our thoughts

Bottom line: Renters insurance from eRenterPlan is more expensive than average. Although it offers some useful coverage add-ons, renters are limited in the amount of protection they can purchase. If you have expensive belongings or concerns about lawsuits, you should consider other insurers.

Renters can only purchase a policy from eRenterPlan if their landlord or property manager is partnered with the company. Your property manager may have a partnership with eRenterPlan because it's an easy way for them to automate the process of making sure their tenants are covered.

However, just because your residence requires a renters insurance policy does not mean you are obligated to purchase one from eRenterPlan.

Other major insurers offer many of the same features as eRenterPlan. However, other insurers also offer renters the option to choose higher personal property, liability and medical payment limits — features you won't find at eRenterPlan.


Additionally, eRenterPlan doesn't underwrite the policies itself, meaning if you purchase a policy, you're actually being insured by one of three partner companies:

  • American Modern Insurance Group
  • American National Insurance Co.
  • Markel Corp.

The company that underwrites your policy will be your point of contact if you ever need to file a claim. Not all of these companies have excellent customer service reviews, which means that some renters may have a difficult claim experience.


Comparing eRenterPlan renters insurance quotes

Renters insurance from eRenterPlan is more expensive than insurance from its competitors. On average, a policy from eRenterPlan costs $25 per month, or $297 per year. That's 11% more expensive than average — a difference of $3 per month.

Graph comparing eRenterPlan rates with top competitors

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eRenterPlan's rates aren't exorbitant — but given the lack of discount options, there's not much reason to purchase a policy from eRenterPlan when cheaper options provide similar or better coverage.

Company
Average monthly rate
Average annual rate
Travelers$20$240
State Farm$21$253
Farmers$21$257
eRenterPlan$25$297
Allstate$26$310

eRenterPlan renters insurance policy coverage

eRenterPlan provides the standard coverage features you would expect from a renters insurance policy.

An eRenterPlan policy is unique in that a basic policy includes a few expanded coverage features. However, it offers limited options for adjusting your base coverage.

Pros

  • If your personal property is damaged or stolen, you'll be paid based on its replacement cost, meaning you'll have enough money to purchase a new item of similar quality. Most insurers factor wear and tear into your settlement, resulting in a lesser payout.
  • Additional living expenses (ALE) coverage, which pays for expenses like a hotel room or moving expenses if your apartment becomes uninhabitable, is provided for up to 100% of your personal property limit. Most renters insurance companies offer ALE coverage at a lower limit, like 30%.
  • Renters with roommates can add up to four roommates to a policy at no additional cost, although we don't always recommend sharing a policy with roommates.
  • eRenterPlan covers dog bites regardless of breed, which could be useful for some dog owners.

Cons

  • You can only insure your belongings for up to $50,000.
  • Your personal property limit must also cover additional living expenses, so if you're forced to move out of your apartment due to damage, you may receive less money for damage to your belongings.
  • Personal liability coverage is limited to $100,000.
  • Medical payments coverage is set at $1,000, so you can't purchase more or less.
  • The company offers extended limits for jewelry but not for other valuables like bicycles, musical instruments or electronics.

eRenterPlan also offers a handful of optional coverage add-ons that renters can use to customize their policy.

Coverage
Description
Monthly cost
Pet damage liabilityCovers up to $500 of damage to your apartment caused by your pet$1.50
Bed bug remediationCovers up to $750 of expenses to eliminate bed bugs and replace infested personal property$1.50
Identity recoveryOffers up to $15,000 to cover expenses resulting from identity theft$1.50
Jewelry coverageIncreases jewelry coverage to $2,500 or $5,000$2.33 to $5.92
Water backupCovers up to $30,000 of damage due to water backup from drains or pipes$1.00

eRenterPlan customer reviews and ratings

eRenterPlan renters insurance is underwritten by three different companies: American Modern Insurance Group, American National Insurance Co. and Markel Corp. When you file a claim, you won't be making a claim with eRenterPlan but rather with one of these three insurers.

Having multiple underwriting companies can result in an unreliable customer service experience for renters.

eRenterPlan underwriter ratings

Company
NAIC
AM Best
American Modern Insurance Group0.81A+ (superior)
American National Insurance Co.0.31A (excellent)
Markel Corp.1.62A (excellent)
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For instance, each of the companies has a different score on the NAIC complaint index, which tracks the number of complaints a company receives relative to its size. While American Modern and American National both receive fewer complaints than a typical competitor, Markel has 62% more complaints than a typical company of a similar size. That means eRenterPolicy customers who receive a policy from Markel will probably have a more difficult claim experience than those insured with the other underwriters.

Unfortunately, you can't choose which company underwrites your policy because it's based on where you live.

On the bright side, all three of eRenterPlan's partners have received good financial stability ratings from AM Best, which means they have the financial strength to pay claims, even in difficult economic situations.

Frequently asked questions

Is eRenterPlan a legitimate renters insurance option?

The policies you can get through eRenterPlan provide real insurance coverage for renters. However, we found that it's expensive compared to other options and provides less coverage than you'd typically get at that price point. We recommend looking for other renters insurance options.

Does eRenterPlan underwrite its policies?

No, eRenterPlan does not underwrite policies. Renters insurance from eRenterPlan is underwritten by three companies: American Modern Insurance Group, American National Insurance Co. and Markel Corp.

How do I cancel my eRenterPlan policy?

The fastest way to cancel your coverage with eRenterPlan is to log into the company's site and cancel it there. You can also call the customer service line at 888-512-4204.

Methodology

To compare renters insurance rates, we gathered quotes from 22 of the largest cities across Texas. Our sample renter is a 30-year-old single man who lives alone and has no claim history.

Quotes are based on the following coverage limits:

Coverage
Limit
Personal property$30,000
Personal liability$100,000
Medical payments$1,000
Deductible$500

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.