What is the name of your state (only U.S. law)? Florida
Hello everyone!
I just have a quick question about my renters policy. I just recently moved to Florida from Indiana and the apartment that I signed up at required me to use ePremium renter's policy where it helps reduce the security deposit of $400 becoming $100. Initially I was concern about taking up the policy because I already have my own renters policy with State Farm. However, at the time it made sense to just go ahead and use ePremium, because I would be paying about $278 out of pocket ($100 deposit, 178 annual premium) instead of the 400 security deposit while keeping the State Farm renters insurance going as well.
I don't like the idea of a security deposit, because an apartment management would always try to prove that all the security deposit goes down the drain as they spend it all on repair when checking out of the apartment. Hence, why I went ahead and just use the ePremium insurance. I currently have both renter's policy active for the same unit, but now I am thinking to cancel one of them since I found out that it's illegal to be double-dipping when filing a claim anyway. I don't need double renter's insurance.
I would prefer to cancel the ePremium one instead of the State Farm insurance because my Auto insurance is also with State Farm. However, now I am concern that if I cancel the ePremium renter's insurance, they would come back and say that I have to pay the $400 security deposit to my Landlord. The title I provided above is probably quite misleading, since I'm not exactly sure how to word my situation properly as a 'title'. Anyway, thanks for your help!
Please advise.
Hello everyone!
I just have a quick question about my renters policy. I just recently moved to Florida from Indiana and the apartment that I signed up at required me to use ePremium renter's policy where it helps reduce the security deposit of $400 becoming $100. Initially I was concern about taking up the policy because I already have my own renters policy with State Farm. However, at the time it made sense to just go ahead and use ePremium, because I would be paying about $278 out of pocket ($100 deposit, 178 annual premium) instead of the 400 security deposit while keeping the State Farm renters insurance going as well.
I don't like the idea of a security deposit, because an apartment management would always try to prove that all the security deposit goes down the drain as they spend it all on repair when checking out of the apartment. Hence, why I went ahead and just use the ePremium insurance. I currently have both renter's policy active for the same unit, but now I am thinking to cancel one of them since I found out that it's illegal to be double-dipping when filing a claim anyway. I don't need double renter's insurance.
I would prefer to cancel the ePremium one instead of the State Farm insurance because my Auto insurance is also with State Farm. However, now I am concern that if I cancel the ePremium renter's insurance, they would come back and say that I have to pay the $400 security deposit to my Landlord. The title I provided above is probably quite misleading, since I'm not exactly sure how to word my situation properly as a 'title'. Anyway, thanks for your help!
Please advise.