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Lemonade renters insurance review

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Squeeze savings out of this low-cost policy while giving back to charity.

  • Get a quote if you’re looking for the lowest cost for coverage.
  • Pick something else if you need more personal customer service.
  • Budget-conscious renters in 27 states can apply.


Available states

24/7 claims

Online quotes



  • Low monthly rates
  • Fast online quotes
  • Easy-to-use app
  • Speedy claims


  • Not available in every state
  • No live quotes
New home discount discount No
New homeowner discount No
Home safety features discount Yes
New policy discount No
Bundling discount Yes
No claims discount No
Other discounts Yes
Personal property coverage Yes
Valuable personal property Yes
Theft coverage Yes
Fire coverage Yes
Flood coverage Yes
Identity theft coverage No
Homesharing No
Dwelling coverage Yes

Expert review

Sarah George

Review by

Sarah George is a writer at Finder who unravels complicated topics about insurance, business and finance. She's been wordsmithing for nearly five years, after earning an English education degree. Her insurance know-how has been featured on You can usually find Sarah sipping hot tea and talking through movie plots in her downtime.

Expert review

Lemonade offers a refreshing blend of speedy claims, helpful coverage and cheap premiums to cover your rental liability and belongings. But its app-based model doesn’t work for everyone, and the company only covers some states. In those cases, you can look at policies from home insurance competitors instead.

What renters insurance coverage does Lemonade offer?

Lemonade serves up a healthy list of protection for your belongings and liability. That includes:

  • Personal liability
  • Medical payments
  • Personal property like clothing and furniture
  • Portable electronics
  • Valuables coverage with no deductible
  • Water backup from sewers and pipes
  • Mold damage caused by water backups
  • Loss of use
  • Earthquake add-on in California and Arkansas

What’s not covered?

Watch your step with a few items that may need coverage from another policy:

  • Restricted dog breeds. Like most home and rental insurers, Lemonade doesn’t cover Akitas, Alaskan Malamutes, Dobermanns, Chow Chows, German Shepherds, Great Danes, Perro de Presa Canarios, Pit Bulls, Rottweilers, Siberian Huskies, Staffordshire Terriers or wolf hybrids.
  • Flooding. You’ll need a separate policy for weather-related flooding, another common exclusion.
  • Roommates. Your roommates will need a policy of their own for liability and personal belongings.

What renters insurance discounts can I get?

Lemonade claims to undercut its competition by up to 82%, offering renters insurance that starts at $5 a month. Because Lemonade keeps standard costs low, you’ll only see a couple of discounts broken out of your rate.

  • Fire alarms
  • Theft alarms

How is Lemonade different from other insurers?

Lemonade makes money in a much different way than other insurers. Rather than pocketing the surplus left over after paying claims, Lemonade allots a certain amount of your premium for operations, including office expenses, reinsurance and cash reserves.

Along with this overhead, Lemonade uses the rest of its income to pay for claims. It often pays claims instantly, if the company’s artificial intelligence determines your claim isn’t fraudulent.

Finally, if the total premiums paid by all customers exceed the amount the company pays out in claims that year, the difference goes to a charity of your choice. That means any profits after basic operating expenses go to dozens of nonprofits, helping with issues like COVID-19 relief, homelessness, racial justice projects and LGBTQI suicide.

What are Zero Everything claims?

Lemonade offers a special Zero Everything product that allows renters and condo/co-op owners to “undo” losses. Whether you’ve had your bike stolen or your laptop ruined by a burst pipe, policyholders with Zero Everything can receive claim payments with no deductible, meaning you’ll get the full amount to replace your belonging. You can have up to two claims per year under this product without seeing a rate hike.

Case study: Aliyyah’s experience

profile pic

Aliyyah Camp

Loans Publisher

I got my Lemonade renter’s insurance policy in January 2018 when I moved into my New York City apartment. Before that, I had an Allstate policy in Virginia.

My previous Allstate policy cost me $131.20 per year or $14.97 per month for a one bedroom. My current Lemonade policy is comparable in terms of coverage and costs $5.84 per month. I like that Lemonade is more fintech-y, with a mobile app and fully online claims process. But like most other insurance policies, I hope I never have to use it.

Pros and cons of Lemonade renters insurance


  • Cheap starting rates. Lemonade renters policies start as low as $5 a month, which is much cheaper than the standard $12 to $20 you’ll pay for other policies.
  • Transparent finances. Lemonade builds trust by laying out what it does with excess premium payments.
  • Quick claims payments. The company boasts that 30% of its claims get paid instantly, with one record-setting three-second settlement in 2016.
  • Claims forgiveness. You can settle your first two claims each year without a deductible or premium increase. That’s unheard of.
  • Highly praised by customers. Of over 100 reviews, many customers give Lemonade four or five stars with the Better Business Bureau for quick claims, low rates and a simple app.


  • Brand new company. Lemonade’s experience only dates back to 2015.
  • Online and app-based. Most of your policy communications require the mobile app, although you may talk with a claims representative in some cases.
  • Limited number of states. This insurer serves 26 states: Arizona, Arkansas (renters only), California, Connecticut, DC, Georgia, Illinois, Indiana, Iowa (renters only), Maryland, Michigan, Nevada, New Jersey, New Mexico (renters only), New York, Ohio, Oregon, Pennsylvania, Rhode Island (renters and condo only), Tennessee, Texas, Virginia and Wisconsin.

How to apply for Lemonade renters insurance

Lemonade streamlines the application process into a few quick questions:

  1. From the homepage, click Get renters insurance.
  2. Enter your name and tap Let’s do this.
  3. Enter your home address and click Next.
  4. Answer questions about your home and whether you have roommates. Click Next.
  5. Fill in your contact information, accept the disclosure and click Next.
  6. Accept coverage and finalize your payment details.

What info do I need to apply for home insurance?

Whiz through the application process with these details in mind:

  • Name
  • Home address
  • Safety features of your rental
  • Email
  • Phone number
  • Coverage needs
  • Policy start date
  • Payment information

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Frequently asked questions about Lemonade renters insurance

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