Quick sign-up, easily paid small claims, and helpful AI make Lemonade a no-brainer choice for renters insurance.
Lemonade is one of the top insurance companies for renters in the United States. If you are looking for renters insurance, Lemonade may be a great option. We really love how easy Lemonade makes it to sign up and get paid even small claims. In this guide, we will cover everything you need to know about buying renters insurance, what it covers, and what makes Lemonade something special.
Lemonade is a new insurance company that offers home and renters insurance. The entire process is tech-friendly and seems designed with Millennials in mind. No more insurance brokers, either: everything is done right on the app.
Buying renters insurance is fast and done right from your phone. Click the video to learn more about Lemonade and their chatbot Maya.
Renting can be unpredictable. In fact, according to the Department of Justice, renters are 50% more likely to experience theft than homeowners. With so many factors outside your control, renters insurance is a plain good idea.
Lemonade renters insurance makes it so easy to cover your stuff. It’s also easy to get paid if something is damaged or stolen.
Lemonade helps people get reimbursed in case of loss or damage of their personal property. It also protects them with liability insurance and other protections, which we will go more into later.
The first step is signing up on the app. Part of that step is figuring out how much coverage to get. People should think about how much it would cost to replace their personal items.
Beyond what is normally covered in their policies, policyholders can add Extra Coverage on their jewelry, musical instruments, and fine art. With extra coverage, they'll get full replacement value of the items without a deductible.
Adding Extra Coverage is easy. Policyholders click ‘Add Extra Coverage’ on the app. They'll then upload a receipt or appraisal of their item with a photo (with the item on top of the receipt if it’s jewelry) and do that for each item.
Lemonade will review everything and approve or follow up for more info.
A great feature is if you pick ‘Extra Coverage’ when you first sign up, you get temporary coverage for 14 days, during which you can upload all the information.
An important question is who is covered under a Lemonade renters policy? These are the answers:
Lemonade renters insurance is available in Arizona, Arkansas, California, Colorado, Connecticut, District Of Columbia, Florida, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Texas, Virginia, Washington, and Wisconsin.
Lemonade is working on rolling out coverage to more states in the U.S. (as well as Europe!) so continue to check back if your state isn’t covered yet.
Lemonade renters insurance is a lot more affordable than you might think. Coverage starts as low as $5/month. That’s about the same price as a latte. And it’s a lot more useful.
If individuals add Extra Coverage for expensive jewelry, cameras, art, or other possessions, their monthly premiums will be a bit higher.
Lemonade covers (which means provides reimbursement for) three main categories.
We will go into each category in detail below.
Personal property is covered against the perils named in your policy. Here are the most common “named perils”:
One great thing about renters insurance is that it covers your personal property even outside your home. Meaning, if your laptop is stolen while you’re at the library, you are covered under your renters insurance policy.
For people with high-value items. Insure valuables against being lost, stolen, or damaged up to the following limits. Pay no deductible on these items and get the full replacement cost.
Typically, Lemonade customers can choose their deductible (meaning the upfront cost they must pay for any claim).
Depending on location, options are $250, $500, $1,000, or $2,500.
Higher deductibles mean lower monthly premiums and vice versa.
If your home became uninhabitable due to a covered peril, you would be reimbursed for your hotel stay (up to a certain limit). You might also get reimbursed for costs related to laundry and eating out.
Personal liability insurance covers you if you cause bodily injury or damage to property or other people’s property at your home or anywhere else. This means if you spill a drink on someone’s laptop at a cafe, you may be covered.
Most policy coverage limits are set at $100k. You can increase your coverage limit in many states up to $1,000,000.
Some scenarios it may help with are:
For example, your pet bit someone. Imagine a visitor slipped and fell at your home and is suing you. Personal liability insurance pays for your lawyer and other defense fees.
With personal liability insurance, you are protected up to your given limit.
Dog bites are covered given the following conditions.
Excluded “vicious” dog breeds are Akitas, Alaskan Malamutes, Chows, Doberman Pinschers, German Shepherds, Great Danes, Malamutes, Presa Canarios, Rottweilers, Siberian Huskies, and Staffordshire Terriers.
If your seeing eye dog or service animal is a “vicious breed” it is still covered.
By now you have some idea of how Lemonade renters insurance works. Here we will go into some of the pros and cons that will help you make a decision.
We did some research around the Internet to see what people were saying about Lemonade renters insurance. The reviews were overwhelmingly positive. Lemonade is rated #1 for renters insurance on Clearsurance.com. It has a total of 2223 reviews as of August 9th, 2021. 97% of customers rated their claims experience positively.
This positive review is representative of most of the reviews on the site.
“Honestly this was an amazing experience. I had claim money within days of the incident occurring. The experience of filing the claim was entirely through the app, which was amazing because I could do it at my own pace. A total breeze, made the experience of having my stuff stolen a lot more bearable.” - freshbig9
Applying for Lemonade home insurance is easy with your laptop or smartphone.
If you're impaired and unable to get a quote online, the team at Lemonade can help.
Filing an insurance claim with Lemonade is easy. It is only possible on the app.
Lemonade may request receipts or other documentation of ownership of items. It is a good rule of thumb to save receipts on all big-ticket items you own.
Address: Headquarters 5 Crosby Street New York, NY 10004-2434
Customer service: (844) 733-8666 (Policyholders experiencing an emergency should also call this number.)
Website: www.lemonade.com Email support: [email protected] Instagram: www.instagram.com/lemonade_inc/ Facebook: www.facebook.com/lemonade Twitter: @lemonade_inc
Lemonade offers home insurance, condo insurance, co-op insurance, pet insurance, and life insurance.
Lemonade is perfectly designed for renters insurance. It's a simple product that fits well with Lemonade’s stripped-down style. Lemonade's chatbots can handle the small stuff, making it cost-effective to settle and pay small claims.
With traditional providers, the claims filing process is onerous. People get discouraged from filing small claims. Lemonade is different.
City living poses many perils, like unknown house guests and cafe laptop snatchers. Lemonade returns the peace of mind that the concrete jungle takes.
It is refreshing to see an insurance product that works with young people’s lifestyles. It is not trying to be intimidating or complicated.
But a little peace of mind in an unpredictable world, and you can expect your claim to actually be paid? That’s worth more than $5/month.
If you need to cancel your renters insurance policy or have an emergency, you can do so within the app or their website, or call 1-844-733-8666 between 9 a.m. and 8 p.m., EST.
Yes. You can add it under ‘Extra Coverage’. Upload a photo of the ring on top of a receipt or appraisal, and customer service will review it. If approved, Lemonade will pay the full replacement cost of the ring should it be lost, damaged, or stolen.
Yes. Your property is covered whether you are at home or not. Anything you own that’s extra valuable should be covered under Extra Coverage on your policy. That way you will get the full replacement cost without any deductible.
You can add your landlord to your policy as an ‘Interested Party’. Go to Settings on your app and find ‘Add Interested Party’. Enter your landlord’s name, address, and email address. A new copy of the policy will be emailed to both you and your landlord. Free of charge!
No. Your roommate must buy a new policy to insure their belongings. Only household members related to you by blood, marriage or adoption can be added to your policy.