APOLLO Insurance
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Incremental Increase in Price for Same Policy Upon Renewal
I registered for Apollo tenant insurance because it was a mandatory requirement set by the landlord/real estate company in order to rent the apartment. I received an email reminder that my policy was coming up for renewal and the fee would be automatically withdrawn from my bank account. I emailed them back informing them I would be cancelling my insurance, and was relieved to receive a prompt reply informing me that they cancelled my auto-renewal. I went into my portal and saw that the cancel policy button was, indeed, highlighted in red, but discovered that the rate had changed by an incremental increase of $21.39, with no explanation provided but containing the same coverage. A small amount, yes, but these arbitrary increases in small print with no breakdown of costs is deceptive and can be easily overlooked - not very transparent. It remains to be seen whether Apollo will make good on their promise not to automatically withdraw funds from my account on that renewal date, but I will be watching vigilantly.