Security Deposit vs Deposit Insurance

[Levi Graziano]

A couple years ago, when my wife and I got our first apartment, our apt complex had us buy an insurance policy from epremium. This cost us significantly less than an actual security deposit and in this competitive market this may be a good tenant incentive. I was curious to see if anyone has any experience in using them or another deposit insurance provider. I'd like to know your opinion on the pros and cons. Also, has anyone had to actually make a claim with one of these providers? Was it difficult? Did they pay out readily, did it take months? How was your experience? Thank you