Lemonade

The Home Insurance Guide

Overall Personalized Rating: 4.4/5 (Very Good)

Overall Personalized Rating: 4.7/5 (Excellent)

Summary

In an industry known for being stodgy, Lemonade stands out with a decidedly high tech approach to home insurance. Lemonade heavily utilizes artificial intelligence and data science rather than humans in evaluating consumers. The benefit of automating the process is that you can get a quote and policy in just a couple of minutes. That automated, streamlined approach continues as a consumer. You can file a claim in three minutes, have that claim analyzed by an algorithm, and have the money wired to your bank; all without human intervention.

Key Benefits

  • Get a quote and policy in minutes
  • File claims in three minutes and quickly get money wired to your bank
  • A company with a conscience: each year the company compares its payouts on claims to its loss reserves and if there's money left, pays the excess to charity
  • Strong choice for renter's insurance

Ratings Summary

Ratings Highlights

Overall Rating
Impressively quick and painless approach to buying insurance as well as managing your claims as a customer.
Pricing
In our pricing research, Lemonade had competitively priced rates. One big benefit of Lemonade is just how fast it is to get a quote. Lemonade can provide a quote in a minute or two by leveraging third party data on your home. Given it's so easy, why not get a quote from Lemonade and compare.
Online Experience
A simple, fast and understandable website to get a quote and policy.
Financial Strength
Well rated by the financial ratings companies.
Product Breadth
Lemonade is strictly focused on Home Insurance over other insurance offerings.
Best for Claims
Setup to process claims quickly and payout because Lemonade is taking a new approach to insurance.

Company Background

Lemonade was founded in 2015, but has grown quickly to over 100 employees. At the time of this writing, Lemonade has the following products by state: renters, condo, and homeowners insurance in NY, CA, IL, NJ, NV, GA, PA, MD, AZ, MI, CT, and DC; renters and condo insurance in TX, RI; and renters insurance in IA, WI, NM, OH, OR, AR.

The Home Insurance Guide's Reviews Methodology

The Home Insurance Guide uses a proprietary algorithm to evaluate the home insurance options presented. Factors include financial strength of the company, breadth of insurance products, pricing and customer service. In addition, The Home Insurance Guide conducts an invite-only annual survey and interviews home insurance agents to gain the insights from those whose job it is to understand and recommend the best insurance companies for their clients. Use of The Home Insurance Guide’s 2019 reviews by third parties without the express written consent of The Home Insurance Guide is prohibited.