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in Renters Insurance

SuperMoney Net Recommendation Score +70% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

Strongly recommended

251 users recommend
4 users are unsure
43 users don't recommend
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Where Does Lemonade Do Business?

Lemonade is an online insurance company based in New York City. It provides low-cost renters, condo/co-op, and homeowners insurance. Lemonade is reinsured by various syndicates of Lloyd's of London. 

How Does Lemonade Work?

Lemonade insurance works on a mutual insurance model that is powered by AI and behavioral economics. The modern insurance model is based on an adversarial relationship where the interests of insurance company and clients are opposed. The less an insurance company pays out in claims, the better off the shareholders will be. This creates an incentive to deny claims. In Lemonade’s model (aka mutual insurance), the insurance company (i.e. Lemonade) charges a flat fee (20% of the premium) per customer. The rest of the money is used to pay clients’ claims and buy reinsurance from large insurance companies, such as Lloyd’s of London. Any money left over is distributed to charities selected by the clients.  

What Are Lemonade Renters Insurance’s Ratings?

Lemonade has received a Financial Stability Rating of A-Exceptional and they are reinsured by some of the industry's biggest names, such as Lloyd's of London. 

What Coverage Does Lemonade Renters Insurance Offer?

Lemonade offers renters, co-op, and homeowners insurance. Your policy covers everyone in your home who is related to you, which doesn’t include roommates.

Renters and homeowners insurance policies cover your belongings even if they are stolen outside of your home. Lemonade offers replacement value on your things. That means you will receive the cash amount you would need to buy again the item you lost – or a similar one if no longer available. Check your policy for limits on the amount you can claim for your stuff and covered events. You can increase your coverage on expensive items, such as jewelry or works of art.

How Does Lemonade Compare with Other Renters Insurance Companies?

Lemonade’s rates are low when compared to most homeowners and renters’ insurance. A typical renters insurance policy costs $5 a month.

We like:

- Low cost

- Easy to set up

- Donates unused money to charity

- Reduces conflict of interest between insurance company and client

- Insurance company charges a flat fee (20%)

We don’t like

- Not available in all states

- You don’t get to deduct the donation to charity

LEMONADE Disclosure: * Subject to board discretion and the company meeting certain financial standards. Insurance provided by Lemonade Insurance Company, 5 Crosby St., 3rd Floor, New York, NY 10013 Lemonade Insurance Agency (LIA) is acting as the agent of Lemonade Insurance Company in selling this insurance policy. It receives compensation based on the premiums for the insurance policies it sells. Further information is available upon request.
SUPERMONEY Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...


  • Headquarters
  •   5 Crosby Street
    New York, NY 10013 USA
  •   Visit Site

Message from Lemonade

Lemonade reverses the traditional insurance model. We treat the premiums you pay as if it's your money, not ours. With Lemonade, everything becomes simple and transparent. We take a flat fee, pay claims super fast, and give back what’s left to causes you care about.*

Other Services by Lemonade


Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 20 states and Washington, D.C.
  • Arizona
  • Arkansas
  • California
  • Connecticut
  • Washington, DC
  • Georgia
  • Illinois
  • Indiana
  • Iowa
  • Maryland
  • Michigan
  • Nevada
  • New Jersey
  • New Mexico
  • New York
  • Ohio
  • Oregon
  • Pennsylvania
  • Rhode Island
  • Texas
  • Wisconsin

Feature Breakdown

Policy Discounts
  • Good Credit
Property Discounts
  • Alarm System
  • Home Monitoring System
  • Smoke Detectors
Home and Renters Insurance Riders
  • Earthquake Coverage
  • Valuable Items
Property Damage  
Personal Property Protection  
Home and Renters Insurance
  • Guest Medical Protection
  • Personal Property Protection
  • Reimbursed Living Expenses
  • Renters Liability Coverage



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