Lemonade Renters Insurance Review: Cost, Coverage, and More (2025)
Lemonade is a digital insurance company that offers competitive rates on renters coverage, bundling discounts, and quick and easy claims filing.
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Lemonade is a digital insurance platform founded in 2015. Headquartered in New York City, Lemonade offers a variety of financial products, including renters, homeowners, pet health insurance, car insurance, and term life insurance policies. Lemonade earned the third-highest customer satisfaction ranking for renters insurance in the J.D. Power 2024 U.S. Home Insurance Study.1
To find the best renters insurance, it’s important to compare multiple insurers and understand the specifics of each policy. Here’s what you need to know about renters insurance from Lemonade.
Insurify’s take on Lemonade renters insurance
As a digital insurance company, Lemonade has fewer overhead costs, which allows it to offer lower rates than some traditional insurance companies. Like most insurers, Lemonade’s standard renters policy includes personal property coverage, temporary living expenses, and personal liability coverage.2
To save on renters premiums, you can bundle your renters insurance with another policy from Lemonade. You can also save by adding security features to your home or by paying once each year instead of monthly.
Overall, customer opinions are positive. Many policyholders report a positive user experience with Lemonade’s app, citing how quick and easy it is to file a claim. But some reviewers aren’t satisfied with the overall lack of human interaction. Lemonade currently sells renters insurance in 28 states and Washington, D.C.3
What Lemonade renters insurance covers
Lemonade’s renters insurance policies typically cover three main categories:
While renters insurance from Lemonade covers a lot of scenarios, it doesn’t cover everything. It won’t cover the following items and scenarios:
Water damage, depending on the cause
Floods, including flooding from a hurricane
Earthquakes
Property used for commercial purposes
Appliance breakdown, unless you purchase equipment breakdown coverage
Your roommate’s stuff
Damage or theft to your car
Damage from pets or pests
Property damage to your rental building
Lemonade renters insurance discounts
If you want to find the best rates for renters insurance, discounts can help you save on your monthly premiums.
Here’s how you can save with Lemonade:
Bundling discount: To save, combine your renters insurance with another eligible policy. You can bundle a renters insurance policy with auto, pet, or homeowners insurance.
Security systems discount: Having deadbolts, burglar alarms, and smoke alarms can earn you a discount.
Annual payment discount: In some states, choosing an annual payment instead of monthly payments can reduce your premium.
Lemonade reviews: What real customers are saying
Lemonade has 4.4 out of 5 stars on Trustpilot and 2.5 stars on its Better Business Bureau (BBB) profile page. Many Lemonade customers enjoy how quick and easy it is to file a claim through the user-friendly app. The company’s mobile app has 4.2 stars on the Google Play Store and 4.9 stars on the App Store.
Customer complaints center around a lack of human connection and interaction, as policyholders can complete most communication and customer service through chat or email. For more complex claims, customers find it hard to reach a real person, which can result in a late response.
Here’s a closer look at a couple of customer reviews.
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How to buy a Lemonade renters insurance policy
You can purchase insurance from Lemonade in as little as 90 seconds using its app, according to the company. Here’s how to complete Lemonade’s application process:
Download the app. You can find the Lemonade app on Google Play and the Apple App Store.
Share your address. Provide your street address and ZIP code so Lemonade can look up your rental property.
Answer a few questions. A representative from Lemonade will ask if you have roommates, a fire alarm, or a burglar alarm. This personal information helps Lemonade determine your rates. You don’t need to provide your Social Security number.
Agree to terms of service. You have the opportunity to read and agree to Lemonade’s terms of service.
Review your policy recommendations. Lemonade will recommend a policy that you can customize and adjust according to your needs. For example, you can add more coverage for jewelry and other valuables.
Pay and receive coverage. You’ll have to enter your payment details before securing renters insurance coverage. Lemonade will email you your policy contract.
Lemonade renters insurance FAQs
The following information can help answer your remaining questions about Lemonade’s renters insurance products.
Is Lemonade a reliable insurance company?
Yes. The company received the third-highest customer satisfaction rating for renters insurance in the J.D. Power 2024 U.S. Home Insurance Study. Lemonade is a public benefit corporation and the parent company to four subsidiary companies in the U.S.
What are the downsides of Lemonade renters insurance?
One of Lemonade Insurance’s main downsides is that it’s difficult to connect with a human when submitting a claim, according to customer reviews. Most communication occurs through an artificial intelligence (AI) chatbot or over email.
The company’s complaint history with the National Association of Insurance Commissioners (NAIC) is also higher than the insurance industry standard for a company of its size.
Does Lemonade pay out claims?
Yes. Lemonade is a fully licensed and regulated insurance company that pays out claims. It makes money from flat fees from customer premiums.
After paying to run the business, the company donates any leftover money to different causes for social change. As a result of its business model, Lemonade doesn’t have an incentive to deny claims because it doesn’t keep the remaining money.
Why is Lemonade insurance so cheap?
Since Lemonade is an online insurance company that uses AI to handle customer inquiries and some claims services, it has lower overheads than some traditional insurance companies. This allows it to offer competitive rates.
Your insurance premiums will vary based on a number of factors including your credit history, ZIP code, and your claims record.
How do you cancel Lemonade renters insurance?
You can cancel Lemonade renters insurance coverage at any time using Lemonade’s website or mobile app. Customers will receive a refund for any remaining periods that they’ve paid for.
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