Lemonade Renters Insurance Review

Lemonade is a very popular insurance company that makes its products available for people who are looking for affordable coverage. It offers renter’s insurance, car insurance, pet insurance, homeowners’ insurance, and term life insurance in the United States. However, in this article, we will be focusing on Lemonade renters insurance.

Lemonade makes renters insurance hassle free and simple deal. It provides renters insurance in an affordable way to cover your belongings. Just like other expensive insurance companies, it protects you financially in the event of unexpected emergency in your rental space.

Also, they offer an easy approach to insurance through its digital platform can be an attraction to people who do not like agency experience when purchasing policies. In other words, you can purchase a renters insurance policy from lemonade with its easy-to-use mobile app and website.

Furthermore, Lemonade provides some of the most affordable and reliable renters insurance in the United States. It offers up to $250,000 in coverage for things like property damage, art, and water backups. With Lemonade renters insurance, you can cover accidents in your rented home or apartment. You can also protect yourself and your family from different situations that involve belongings in your home.

Lemonade Renters Insurance Coverage Review

Most Landlords in the United States require tenants to buy a policy with minimum amounts of renters liability insurance. However, the coverage you choose is up to you. Below are the coverage included in the Lemonade renters policies.

Personal Property Coverage

This policy protects personal items or belongings such as dishes, furniture, electronics, jewelry, and everything else you own. It also covers damages from common problems like fire, smoke, vandalism, and theft.

Medical Payments Coverage for others

This policy covers medical bills if someone gets injured in your home. It pays for small medical expenses regardless of who is at fault. The coverage amount usually starts at $1,000.

Liability Insurance

This pays if you are sued over property damage or accidental injuries. The policy includes the cost of legal defense and court judgment.

 Loss of Use/ Additional living expenses Coverage

It pays for your restaurant meals, hotel bills, and other expenses when you can’t live at your apartment because of damages covered by the policy such as explosion or tornado

Other Addition Coverage Offered by Lemonade Renters Insurance

Pet damage endorsement

This covers pet damage done to landlord properties when costs are above the security deposit.  The cost is $18 a year and the limit is $500.

Tenant Water Liability

It covers damages caused by water to landlord property within the rental unit. The minimum coverage is $100,000

Bed bug coverage; the policy covers bed bug remediation and loss of use of the apartment. It has limits of $1,000 or $500.  Also, the replacement of personal belongings due to bed bug infestation is covered.

Absolute Lemonade Endorsement

This endorsement provides a waiver of apartment insurance deductible for the first two claims.

You can check the Lemonade official website or the mobile for more coverage options. With the app, you can get quotes, buy your policy, and file claims. While the website is designed to instant quote and find information about the policies.

What does Lemonade Renters Insurance not cover?

Although Lemonade Renters insurance covers different events in their policy, it does not cover everything. So, it is very important to know the events that are not covered. Here are the following events that the renter’s insurance does not cover;

  • Car theft
  • Damages caused by Natural disasters such as floods and earthquakes
  • Property damage was done on purpose
  • Stolen undocumented items
  • Roommates’ belongings or items
  • Damages from pest

The above listed are not covered by Lemonade Apartment Insurance. However, you can check other policies on the website that covers the above.

Lemonade Renters Insurance Cost

 Lemonade provides one of the lowest rates in the insurance industry. At the insurance company, you can buy a renters insurance policy starting as low as 5% per month. However, the average monthly cost of renters insurance is $19 per month.

In addition to the monthly premium, customers can go for anyone between the deductible options; $250, $500, $1,000, and $2,500. You can adjust your coverage options when purchasing renters insurance Lemonade. The more belongings you want to cover, the money you will need to pay. However, there are no hidden fees with Lemonade. Also, you can cancel anytime you want

In addition, the Price of this insurance depends on several factors including proximity to the fire station, distance from the coast, your location, and more. The best option to get a good price is to get a quote from the Lemonade website.

Pros of Lemonade Renters Insurance

In this section of the article, I will be listing the Advantages of Lemonade Apartment Insurance

Pros

  • Most claims are paid immediately
  • You can get quick quotes via the mobile app and website
  • If your belongings are stolen or lost, you will be paid enough to purchase brand-new replacements

Now, you know the advantages of the Insurance. You can now decide if the renters insurance from this company is what you really need.

How to File a Claim

To file a Claim, you need to have the app. You can download the lemonade mobile app from Google Play store or App store. Once you have downloaded it, just open it and click on the ‘’Claim button. From there you will be guided through the process.

If you are just considering Lemonade for your renters insurance, we recommend getting a quote from the website of the company. The quote is free and you will get it instantly. You get the quote and compare with multiple Insurance companies in your area.