Required to use their renters insurance vendor at $45/month. The same coverage is $11 on Lemonade.

When I signed my lease, section 18 said renters insurance was required and that the policy must be obtained through an "approved vendor or carrier meeting building standards." I thought that was reasonable. Renters insurance is genuinely useful.

What I didn't know until I tried to use my own policy: "approved vendor" means specifically the two carriers they list in the lease addendum, one of which is directly affiliated with the property management company. The other is a preferred partner with what is clearly a volume arrangement.

I have $25,000 in personal property coverage, $100,000 liability, through their required vendor: $45.20/month. I got quotes. Lemonade, same coverage: $11/month. State Farm, same coverage: $14/month. Progressive, same coverage: $13/month.

I sent an email to the leasing office explaining that I had obtained equivalent coverage from a licensed NC carrier and asked if I could submit that policy instead. They replied that "per lease terms, only approved vendors are accepted to ensure building-wide compliance and consistent coverage standards." I asked what specific coverage standards my Lemonade policy didn't meet. No response to that question.

I'm paying $34/month more than I need to, per year that's $408, over my 14-month lease that's $476. This is a direct transfer from me to a vendor with a financial relationship to my property management company. I cannot prove collusion. I can prove the math.