Features

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. Lemonade is only available in New York, California, and Illinois.

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

  • AM Best Financial Strength Rating
    A-
  • Property Damage
  • Liability
  • Personal Property Protection
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0 votes

This company is INCREDIBLE!! I had a horrible few days because someone stole my cell phone and Lemonade came to my rescue. Claim process is from the future!! So easy and the money was in my account 5 mins after I clicked submit. WOW WOW WOW. SIGN UP NOW!!!

1 votes

Very poor experience - limited options and very high premiums

1 votes

Abou 4 days ago I emailed mi insurance to get a quote on renters insurance, never got a response back, I’m glad a found Lemonade because I was able to get insured thte same day and it only took one minute, I wish you can do car insurance as well, thank you very much.


1 votes

Lemonade was the easiest renters insurance experience i’ve been through & they are very personal with their customers! the prices are very affordable & the process for filing a claim was very easy & thorough. Will definitely keep using this company! i highly recommend!


1 votes

Started with lemonade a couple months back, and just had my house broken into and my bike stolen along with some other stuff. Got my receipts together and the police report, and within 15 seconds of an easy submittal process my claim was approved and the money wired over. Pretty unreal


1 votes

Lemonade was print and quick and knowledgeable when answering my questions about my policy and claim. My claim was instantly approved and payments will be made directly to my bank acct. The teams have always been super helpful and I wish more corporations operated this way! Way to go Lemonade. Companies like you can make positive change in our world. Thank you for giving back to the communities that need help the most.

1 votes

Lemonade is the first and only insurance I will ever use. Lemonade is amazingly easy and effective. I love it.

1 votes

Customer service in Lemonade is amazing. They are patient easy to work with and reliable. Kristina helped me out with my damaged camera and got it resolved in minutes. Thanks to the Lemonade team I can take photos again.

1 votes

So about 2 weeks ago I had a sleepover turn into a nightmare when the guest I didn't know too well decided to steal my backpack!! The backpack had my laptop inside along with some other electronics so this was a quite devastating experience for me, especially as a grad student. We contacted lemonade to see if they could help and whoaaaaa did they pull through! Jen Robinson was one of the kindest, understanding reps I have ever interacted with. Our claim has already been settled and payment was issued ... super quickly. Unbelievable service considering how affordable they are. Highly recommended! More Less

1 votes

I discovered Lemonade on Facebook. Since I used to have renters insurance with State Farm, I wanted to shop around for quotes. When I answered a few questions regarding the possessions in my apartment, I couldn't believe how affordable their monthly payments are. The app explains everything in depth about your policy, and encourages me to ask questions. It's nice to have renters insurance that I can afford every month.

1 votes

Lemonade went above and beyond to approve a claim I made only 2 weeks after signing up for their renters insurance. My situation was tragic and an emergency causing my displacement. This company did the kindest gesture to help me out and managed to cover my losses on the same day, even providing me a place to stay while repairs were made. Thank you so much Lemonade. In my time of need you guys came together and did what no other insurance provider would have, by taking care of me ... in my desperate time of need. I can not thank you enough.???? More Less


1 votes

It was fast and simple to set up an account and apply for insurance coverage. When I had an unfortunate situation take place, they helped me right away with telling me how to make a claim through the app and the app claim was very fast and simple. My claim was approved right away. I was grateful in my time of distress and need :-)


1 votes

Best company ever had such a great experience with them thank you so much


1 votes

*So much better than Assurant!* This is the best experience I've ever had with renter's insurance. So easy and so quick. Everything you can think of is done in the app: changing coverage, adding an interested party, et cetera. It's clearly well designed. I say this as a long time assurant customer who has had to deal with their antiquated online system that never works and never notifies me to renew my coverage when it expires. Thank god for lemonade.


1 votes

Extremely easy to get a quote and sign up! Added my bike and my wife's engagement ring no problem. Highly recommended to fellow New Yorkers.


1 votes

I haven't claimed anything but Lemonade insurance is cheap, easy to buy and gives back go charity. So good


2 votes

I'm not sure what kind of reviews are on here but Lemonade has been a life-saver for me! My car got broken into and everything was stolen - laptop, phone, wallet, credit cars. EVERYTHING! I was able to report my claim in just a few mintues in their app. Then, 14 hours later I got an email and a call from Jen who was a lifesaver - kind, knowledgable, and empathic (Unlike my car insurance carrier). I wanted to leave a review to highly recommend this company. Ther are legit. ... And to anyone who has doubts, don't! Lemonade got it right. A+ More Less


2 votes

Lemonade is insurance for humans.

The experience is amazing both from a UX perspective and the empathy and full support of the claims team. Best thing to happen to the insurance industry.


1 votes

Unlike typical insurance policies, you actually know what your policy covers with Lemonade. Their app had simple explanations of all the coverage stuff, helpful graphics, and extremely responsive customer support. Would highly recommend.


2 votes

So i bought this while sitting in the bus, took me about 2 minutes to get my policy and 3 minutes to add my valuable stuff, my parents dont believe me but I think we are now in the future


2 votes

I love you Lemonade! I can't believe u made me love my insurance company


6 votes

I got a policy for my apartment in downtown SF. Experience was nothing less than amazing, price is super cheap and chose a charity the money will be donated to in case i wont file a claim. Loved it!


6 votes

They are super friendly and besides the fact it took me a few minutes to sign up, I lost my bike in CP and I claimed it using the app. Didn't talk to anyone and got my money back, this is so easy and a big threat to all other companies there, not just insurance. I love u Lemonade please dont change


6 votes

I just moved out on my own after finishing up at NYU. I heard about Lemonade through one of my friends and I wanted to pay it forward. Lemonade is amazing. Period. It literally took me three minutes to sign up and I did it entirely from my phone. Lemonade's chatbot, Maya, was way better than talking to any insurance broker - been there and done that with auto insurance and it was a nightmare. To top it all off, I also got to choose a giveback cause (the ACLU) ... which is a pretty great feature. More Less


4 votes

Seriosely this is the best company in the insurance industry, it took me 3 minutes to get insuread, the UX is amaizng and the customer support is super fast and friendly. And Im giving money to my favorite charity, this is really shcoking for someone like me who knows insurance quite well.


6 votes

My new apartment in a luxury building required me to get a minimum of $100,000 Renters Insurance, something that I would have NEVER paid for or gotten otherwise. Lemonade was easy, and is only $5/month- definitely the cheapest policy I could find. I used Lemonade because obtaining Renters Insurance something I had to do to obtain my new apartment, not something I wanted to spend a ton of time shopping around in for in order to get the best policy/protection. For someone in my situation, that truly could not care ... less, I would recommend it- it was easy and cheap! More Less

3 votes

Lemonade is horrible. I processed a claim on Friday and someone responded to me today saying I will get an update on Monday call or text this number for questions nobody answer nobody responds this is the worst renters insurance company ever. Please choose someone else. I'm filing a lawsuit against lemonade and I want every dime I've ever spent on them back in my pocket.


6 votes

Finally a company that doesnt ask me to fax them, or talk to an agent. Took me literally 2 minutes to get a quote, read a bit more to make sure the coverage is what i need, added extra coverage for my wife's rings and thats it. It was super easy and the best thing, finally a company that doesnt profit ridiculous amounts from my premiums. I'd rather my premiums go to a charity i chose (go ACLU!) than to my insurance company's pockets. I completely recommend Lemonade, finally something ... different! More Less


5 votes

Honestly, I think half of these reviewers are from the industry because they use insurance industry terms I've never heard of. I have Lemonade insurance, I'm a normal 29 year old. I love it. It was easy, it was cheap. I don't feel like they were trying to upsell me on insurance. I didn't have to go to some store to meet with some insurance salesman who's going to tell me I need to get my non-existent fur coats and non-existent firearms insured.

Now what I AM worried about is whether they'll ... be able to pay claims in a timely manner. From a business perspective, I'm worried they're going to experience so much fraud that they can't handle, that if I ever need to file a claim, they'll have shut down or be insolvent or something. But from a typical renter in NYC who needs typical renters insurance, it's the perfect company. Don't listen to the dinosaurs on here who are scared of the insurance industry changing.

ps, I work in tech, so I AM biased. Just not at Lemonade.
More Less


6 votes

My bike was hit by a truck that drove away without leaving info - someone in my office saw it happen and remembered the company's name. I filed a claim with lemonade with only the trucking co's name and my co-worker's story. Within 12 hours of filing I was paid the balance of my bike minus the deductible, and within a week they had found the insurance company for the truck and paid me my deductible as well. The three agents I spoke with were very helpful - I was ... really glad to have this insurance. More Less

3 votes

Don't use the company please. Too good to be true

2 votes

So I file a claim 3 weeks ago, I spoke to someone 2 days after the filing the claim. Was told it will take 24 hours to hear back. Never heard anything. I call, I send email with no response. Then yesterday I get phone call straight to voicemail they we need more information and someone will come out to assess your property. 3 minutes yeah right.

2 votes

I would not recommend lemonade for anyone. Such a horrible experience filed a claim for items that were stolen from my truck they canceled my policy and said that it was un usual behavior this company is a joke.. please stay away from this company I recommend all state for renters insurance!


5 votes

This is the best insurance company ever. it took me 60 seconds to buy a policy, I am paying half of what I used to pay for Allstate, and my coverage is higher.

I made a claim last week, and got paid instantly, I can't believe it


3 votes

NO NO NO NO AND NO . Take note, most 5 star reviews are from those who don't actually use this garbage excuse for an insurance company. I was just told that items that were stolen from me while travelling WERE NOT COVERED . A similar situation happened unfortunately a few years ago , and Allstate cut me a check within 24 hours. To add insult to injury, they do not have a phone number, so you are stuck dealing with bots and sending messages through their app - not ... even a website... THEIR APP. For sure its cheap and easy to sign up , but when the sh*t hits the fan, YOU WILL NOT HAVE ANY PROTECTION . More Less


3 votes

Lemonade on the surface is a very approachable company and they provide the ability to easily purchase insurance online. Even filing a claim is relatively simple and is completed via the mobile app. Everything Lemonafe does is aimed at making it easy for the customer to do about anything you need without ever having to talk to anyone. Initially I thought this was great, however now that I have filed a claim not having a contact number to a live agent has become the downfall of this company. I was ... initially told that my claim was going to be sent to my bank on a Friday. Now here I am 5 days later and the company has gone completely quiet. I have sent emails, text, and left voicemails on the provided cell phone number of one agent and still no response. On the surface simplicity is amazing, however when it comes down to actually doing business and assisting customers in the claims process this company fails tremendously. More Less

5 votes

LOVE Lemonade- used it through my daughter's school PS33 in Brooklyn. so all of the remaining dollars at the end of the year goes to support our school.


3 votes

I live in Illinois. They do offer renters inurances only here. I just signed up today at 5 dollars per month and it was very easy to get covered.


3 votes

This is exactly what I was waiting for. Insurance that I can understand. Finally this industry is catching up with 2017...

2 votes

Lemonade dresses itself up as the saint of insurance, but it's actually worse than just a plain old mutual. A mutual is an insurance company that pays a dividend if there are excess profits so a policyholder can profit share. However, Lemonade, instead of paying you a dividend, donates the excess profits to charity on your behalf.

This way Lemonade gets to keep the charitable tax deductions, so it profits even more than a typical mutual would. You get nothing.

The user experience was great and the ... price was cheap. However, this was definitely a teaser rate as their prices are comprised of 60% expenses, which is actually worse than the industry. More Less

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