Lemonade Renters Insurance Review

Best for Low Rates

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Renters Insurance

• Premiums start as low as $5 per month
• Enroll in as little as 90 seconds
• Covers personal property and personal liability
• Customize your policy for the coverage levels you need
• Claims can be approved in seconds

• Only available in AZ, AR, CA, CO, CT, FL, GA, IL, IN, IA, MD, MA, MI, MO, NV, NJ, NM, NY, OH, OK, OR, PA, RI, TN, TX, VA, WA, WI, and DC.

Lemonade’s renters insurance stands out for its affordable premiums, earning our best for low rates designation. With premiums starting at just $5 per month, it’s a budget-friendly option for those looking to save. You can enroll quickly—often in under 90 seconds—and customize your policy to match your needs, from personal property to liability coverage.

However, Lemonade may not be the best fit for everyone. While it offers affordability and quick claims approval, its coverage options and customer service leave room for improvement. If you’re seeking comprehensive coverage or a more personalized experience, exploring other insurers could be worthwhile. Here’s what you need to know.

Lemonade renters insurance at a glance

You can find the basics about Lemonade’s renters insurance in the table below.

Terms	Details
Premium	As low as $5/month
Deductibles	$250, $500, $1,000, or $2,500
Reimbursement type	Actual value
Personal property coverage	$10,000 – $250,000
Loss of use coverage	$3,000 – $200,000
Personal liability coverage	$100,000 – $1,000,000
Medical payments coverage	$1,000 – $5,000
Policy discounts	Automatic bundle discount when you combine with other insurance (auto, for example)
Unique features	Add scheduled personal property coverage (Lemonade calls it “extra coverage”) for higher-priced items, such as jewelry

What types of plans does Lemonade offer?

Lemonade offers two types of coverage options to fit your renters insurance needs: basic renters insurance and extra coverage.

1. Basic renters insurance: This standard plan covers the essentials, including personal property, loss of use, and liability. It provides a cost-effective way to protect your belongings and personal liability.
2. Extra coverage: Designed for those with high-value items such as jewelry, artwork, or musical instruments, this plan offers specialized coverage. It provides additional protection beyond the basic plan without requiring a deductible for those items.

Your policy automatically covers household members related to you by blood, marriage, or adoption, including spouses and children. Be sure you purchase enough coverage for everyone’s personal property.

You can add significant others to your policy for a minor cost.

What does Lemonade renters insurance cover?

Lemonade renters insurance covers your belongings against damages from events such as fire, theft, and vandalism. It also has your back in liability scenarios—if you accidentally harm someone else or damage their property. 

If a covered event makes your home uninhabitable, Lemonade helps with additional living expenses.

Types of coverage

• Personal property: This takes care of belongings including laptops or bikes if they’re stolen or damaged—for example, in a kitchen fire.
• Loss of use: Helps with extra living expenses, such as hotel bills, if you can’t live in your home due to covered perils—a fire, for instance.
• Liability coverage: Offers protection if you’re responsible for injuring someone or damaging their belongings, both at home and elsewhere.
• Medical payments: Aids in covering medical bills for guests injured at your place, usually capped at $5,000.

Extra coverage

If you want security beyond the basic renters insurance coverage, Lemonade allows you to add extra coverage to your policy for special items such as fine art, jewelry, and musical instruments. Here’s what makes it different:

• Accidental loss and damage: Unlike the base policy, extra coverage protects against accidental loss and damage worldwide.
• No deductible: No money is deducted from your claim payment.
• Special items: The base policy caps jewelry coverage at $1,500. If your jewelry’s value exceeds this, you’ll want extra coverage for the appraised value of the piece.

To secure extra coverage for your belongings, just use the Lemonade app to snap photos of the items and submit a receipt or an appraisal.

What does Lemonade renters insurance not cover?

Every insurance policy has its limitations. Here are items Lemonade renters insurance generally won’t cover:

• Natural disasters: Earthquakes and flooding from weather events aren’t covered.
• Power outages: Not typically included, except in certain states, although Lemonade doesn’t disclose which states are eligible for this coverage.
• Car theft: Your car and its parts are not covered, although belongings inside the car might be.
• Roommate’s belongings: Your policy only covers your belongings. It will cover your spouse’s, but it’s suggested that you include their name on the policy.
• Short-term rentals: Events during an Airbnb stay aren’t covered.
• Pest damage: No coverage for damage from or removal of pests including mice and ants.
• Mold: Coverage is limited unless resulting from specific causes.
• Pet damage: If your pets damage the apartment, you’re on the hook for it, although you can include it as an add-on to your basic coverage.
• Physical rental damage: Your landlord’s insurance usually covers the physical structure of your apartment building or duplex, for example.

How much is Lemonade renters insurance?

Factors that affect your premium include your location, coverage amounts, and even your deductible choices. Furry friends won’t automatically raise your rates, but you can opt for pet damage coverage as an add-on. 

Over time, premiums can increase, especially if you file a claim. Lemonade’s pricing starts as low as $5 per month but varies based on these and other factors.

Our team collected this sample quote to give you an idea of monthly and annual premiums and the associated levels of coverage. 

Sample quote for a multifamily rental in Wisconsin
Monthly premium	$8.25
Annual premium	$99 (before discounts)
Personal property	$10,000
Portable electronics	$3,000
Personal liability	$100,000
Loss of use	$3,000
Medical payments	$1,000

Lemonade quoted the following add-ons and extra coverages when we retrieved this quote:

• $2,000 jewelry: $32/year
• $5,000 fine art: $8/year
• $1,000 bike: $60/year
• $1,000 camera: $15/year
• $1,000 instruments: $6/year
• Water backup: Starting at $20/year
• Pet damage: $500/year
• Partner add-on: $20/year

Discounts to save money on Lemonade renters insurance

In addition to its affordable premiums, Lemonade offers a couple of ways to trim down your payment:

• Bundle discount: When you package your renters insurance with other Lemonade policies, you could see savings, although the exact discount isn’t disclosed.
• Protective devices: If you have a smoke detector, deadbolt, or home security system, you might be eligible for a premium discount.

Who is eligible for Lemonade renters insurance?

Qualifying for Lemonade renters insurance involves a few factors. Eligibility isn’t just about location; it extends to the kind of property you’re living in and potentially your financial history. Let’s dig into the specifics.

• Ineligible states: Lemonade excludes the following states: Alabama, Alaska, Delaware, Hawaii, Idaho, Kansas, Kentucky, Louisiana, Maine, Minnesota, Mississippi, Montana, Nebraska, New Hampshire, North Carolina, North Dakota, South Carolina, South Dakota, Utah, Vermont, West Virginia, and Wyoming.
• Property types: Whether you’re in an apartment, condo, or single-family home, you could be eligible for coverage.
• Financial history: Your credit and claims history are two of many factors that may influence your rate. How they impact your rate depends on the laws of the state where policies are issued. 

Lemonade renters insurance claims and payouts

Filing a claim with Lemonade offers a user-friendly experience designed for quick resolution. The process, often faster than traditional insurance models, uses technology to its advantage:

1. Use the app: Start by opening the Lemonade app and selecting the “File a Claim” button.
2. Follow the guide: The app walks you through each step for filing your claim.
3. Bank details: After completing the claim report, you’ll enter your bank information for reimbursement.
4. Wait for approval: Once your claim is approved, get the payment, minus your deductible, via direct deposit.

Lemonade’s claims process is designed to be fast and user-friendly, and it stands out for its innovative approach. Lemonade aims for near-instant payouts for straightforward property claims, leveraging technology to streamline and expedite the process. However, more complex cases may still require a traditional review, ensuring thoroughness where needed.

A unique aspect of Lemonade’s claims process is the option to record a video explaining the incident. This personal touch allows you to share your story and speed up approval by providing more context and clarity right from the start. Lemonade offers 24/7 emergency support for urgent situations, such as fires or water damage, ensuring help is available whenever you need it.

While having receipts for items valued at $250 or more can speed things up, they aren’t mandatory. Providing details about where and when you purchased an item can also assist in expediting the claim. This flexibility makes Lemonade’s claims process accessible and straightforward, even for those without detailed records of their possessions.

Lemonade’s renters policies offer replacement cost for destroyed, damaged, or stolen items. This means Lemonade calculates the value of your item based on the current market rate for a similar new item. For instance, if a camera you bought for $500 now sells for $350, the reimbursement would be based on the $350 value.

Pros and cons of Lemonade renters insurance

To help you make an informed decision, let’s take a closer look at Lemonade’s pros and cons:

Pros

• Quick online activation

  Lemonade’s use of artificial intelligence makes the quote and activation process fast and straightforward.

• Efficient claims process

  With Lemonade’s app, filing a claim becomes a less daunting task, aiming for speedier resolutions.

• Low premiums

  A competitive price point makes Lemonade renters insurance accessible to most renters who live in eligible states.

Cons

• Customer service issues

  The convenience of an online-only model comes with trade-offs: Some users report subpar customer service. 

• Limited extra coverage options

  Lemonade offers a handy extra coverage feature, but it lacks the extensive add-ons other competitors provide.

• Limited state availability

  Lemonade is unavailable in almost half of the U.S.

Lemonade renters insurance alternatives

Lemonade stands out for its tech-savvy approach to renters insurance, offering a streamlined online process powered by artificial intelligence. This makes getting a quote and filing a claim quick and hassle-free. 

However, you might consider other insurance companies to ensure you’re getting the best coverage for your needs. 

Read more about the best renters insurance providers to evaluate these options in more detail.

Is Lemonade renters insurance legit?

Yes, Lemonade is a legitimate renters insurance company. Checking online customer reviews can help you understand Lemonade’s reputation before committing to a policy. According to these reviews, Lemonade’s online reputation is mixed. 

Source	Customer rating	Number of reviews
Trustpilot	4.3/5	2,251
Google	2.3/5	122
Better Business Bureau (BBB)	2.16/5	406

Trustpilot is one of our favorite platforms for customer feedback, and Lemonade’s high volume of reviews lends credibility to its ratings; however, many of these reviews are for pet insurance, not renters insurance. Among the renters insurance reviews, complaints about customer service and specific policy language leading to denied claims are recurring themes. 

Several BBB reviewers pointed out Lemonade’s unresponsiveness to claims. Meanwhile, customers on Google mention a long claims process and poor customer service.

How is the Lemonade renters insurance customer service team?

Lemonade offers various ways for policyholders to reach out. While its general customer service handles day-to-day questions and policy changes, Lemonade also provides specialized assistance for emergencies. 

Here are your options for contacting Lemonade:

• General queries:
  • Email: [email protected]
  • Phone: 1-844-733-8666 
• Emergency situations:
  • Phone: 1-844-733-8666 (Available 24/7 for emergencies)
  • Lemonade app: Use for immediate claim filing and tracking

For emergencies where digital access is compromised, Lemonade’s emergency contact number ensures assistance is always within reach. The company collaborates with a network of emergency response and repair partners, making it possible to provide immediate services such as water or fire damage cleanup, temporary housing, or specialized consultation.

How to apply for Lemonade renters insurance

Securing renters insurance with Lemonade is a straightforward process. Most of the work happens online, facilitated by Lemonade’s AI, which not only simplifies but speeds up the task. Here’s how to go from a prospective policyholder to an insured renter:

1. Clicking “Check your prices” takes you to the initial application page.
2. Enter personal information: Start with your name and address.
3. Answer property questions: Provide details about your rental unit, such as the presence of smoke alarms and burglar alarms.
4. Household composition: Indicate whether you live with roommates, a partner, kids, or pets.
5. List valuables: Disclose any high-value items that might need extra coverage.
6. Type of building: Specify the nature of your dwelling: multifamily house, apartment, or other type.
7. Current policy status: Mention whether you already have a renters policy in place.
8. AI analysis: Lemonade’s AI uses your responses and factors including building age, durability, and distance from the coast and fire stations to generate a quote.

9. Customize your coverage: Once you get the initial quote, you have the freedom to add extra coverage or increase your limits.

10. Activate policy: To finalize your insurance, pay the first premium.

Complete the entire process in minutes thanks to the AI’s quick analysis.

Lemonade FAQ

Can you add another person to your policy?

Lemonade renters insurance primarily covers the policyholder. However, you can generally include a spouse or partner without additional cost. Roommates are not typically covered under the same policy and would need to get their own separate coverage.

Can you make changes to your policy?

Yes, adjusting your Lemonade policy is a breeze. You can make modifications, such as adding or removing coverage options, through its app or website. Lemonade will recalculate your premium based on these changes.

How do you renew your Lemonade renters insurance policy?

Lemonade offers the convenience of auto-renewing your renters insurance policy. You’ll get a notice before the renewal date, allowing you to review any changes in terms or rates. If you’re comfortable with the updates, your policy will renew automatically. If not, you can change or cancel the policy before renewal.

How do you cancel Lemonade renters insurance?

You can cancel your Lemonade renters insurance policy at any time. To do so, log into your account through the app or website and follow the cancellation steps. Upon cancellation, any unused premium will be refunded to you, often within a short time frame.

How we rated Lemonade renters insurance

We designed LendEDU’s editorial rating system to help readers find companies that offer the best renters insurance. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared Lemonade to several renters insurance companies, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. Our take is represented in our best-for designation, recapped below.

Product	Best for
Lemonade renters insurance	Best for low rates