Lemonade Renters Insurance Review 2024

Lemonade is notable for its digital-first offerings, but it's not available in all states.

Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

Profile photo of Sarah Schlichter
Written by Sarah Schlichter
Lead Writer
Profile photo of Caitlin Constantine
Assistant Assigning Editor
Fact Checked
Profile photo of Doug Sibor
Co-written by Doug Sibor
insurance-product-card-logo

Lemonade

3.5

NerdWallet rating 
Straightforward policies from a tech-centric, mission-driven company.
Compare My Rates
on Lemonade's website

Coverage options

More than average

Discounts

Great set of discounts

NAIC complaints

Far more than expected
insurance-product-card-logo
Compare My Rates
on Lemonade's website

Lemonade

3.5

NerdWallet rating 
Straightforward policies from a tech-centric, mission-driven company.

Coverage options

More than average

Discounts

Great set of discounts

NAIC complaints

Far more than expected

About Lemonade renters insurance

3.5

NerdWallet rating 

Lemonade renters insurance earned 3.5 stars out of 5 for overall performance. Lemonade sells renters insurance primarily through its app and website, and you’ll file any claims through the app, too. The company says it settles about 40% of claims instantly.

When buying Lemonade renters insurance, you'll choose a charity, and your payments will be pooled with those of other policyholders. After paying expenses and claims each year, the company gives any money left over to customers’ favorite causes. In 2023, this amounted to more than $2 million in donations.

Our star ratings are based on consumer complaint data from the National Association of Insurance Commissioners; financial strength grades from AM Best; coverage and discounts available; and the overall consumer experience. See our criteria for evaluating renters insurance companies.

Our writers and editors follow strict editorial guidelines that ensure fairness and accuracy in order to help you choose the financial products that work best for you. Here is a list of our partners and here’s how we make money.

Where Lemonade stands out

Technology. If you’d rather buy a policy with a few taps of your phone than spend time on the phone with an agent, you’ll appreciate how easy it is to use Lemonade’s website and app.

Coverage for your belongings. Lemonade’s replacement cost coverage is more generous than the actual cash value coverage some companies offer. With Lemonade’s coverage, you can buy brand-new replacements after a claim rather than receiving less of a payout for depreciated older items.

Where Lemonade falls short

Availability. Lemonade renters insurance isn’t yet available in all U.S. states.

Consumer complaints. Lemonade draws far more complaints to state regulators than expected for a company of its size.

State availability

Lemonade renters insurance is available in 28 states plus Washington, D.C.

Availability may change at any time. Coverage may not be available to all renters in a given state.

Lemonade renters insurance coverage

Landlords sometimes require tenants to purchase a policy with a minimum amount of renters liability insurance, but otherwise, the coverage you choose is generally up to you. Below are the four types of coverage included in most standard renters policies:

Type of coverage

What it does

Covers your clothing, furniture, electronics and other belongings.

Pays for hotel stays, restaurant meals or other expenses if you have to live elsewhere while your home undergoes covered repairs.

Pays out if you're responsible for injuries to other people or damage to their property.

Covers injuries to other people in your home, regardless of fault.

Lemonade covers your belongings on a replacement cost basis. That means if your items are stolen or destroyed, Lemonade will pay enough for you to buy new replacements. Some companies pay less to reflect the depreciated value of your belongings.

Depending on where you live, optional coverage types may also be available, including:

  • Extra coverage, which pays if your jewelry, fine art, cameras, bicycles or musical instruments are lost, damaged or stolen. No deductible applies.

  • Water backup for damage caused by water coming out of your drain or sewer.

  • Equipment breakdown, which pays if appliances or electronics (like your security system or TV) have a mechanical failure.

Discounts

You may be able to save money on your Lemonade renters insurance policy if:

  • You buy another type of Lemonade policy such as pet insurance.

  • Your home has protective devices such as smoke alarms or deadbolt locks.

  • You pay your premium once a year rather than in installments.

Consumer complaints

Lemonade received far more than the expected number of home insurance complaints to state regulators relative to its size, according to three years’ worth of data from the National Association of Insurance Commissioners. (NAIC home insurance complaints cover other home policy types, including renters, mobile home and condo insurance.)

Consumer experience

Website: Lemonade’s website is cleanly designed and easy to use, with an instant quote feature right on the homepage. You can find information about the company’s policies on its lengthy FAQ page.

App: Available for both iOS and Android, Lemonade’s app is the place to go to get quotes and buy your policy. You’ll also use it to file claims.

Claims: To file a claim on the app, record a video of yourself describing what happened, then fill in some information about the amount of your claim. Although many cases are transferred to a person on the claims team, Lemonade says it handles 40% of claims instantly and wires money to your bank.

If you don’t have web access, you can call 844-733-8666 to file your claim.

Customer service: Logged-in policyholders can use the Maya chatbot service. You can also email [email protected] or call 844-733-8666.

Lemonade renters insurance vs. competitors

Here’s how Lemonade renters insurance stacks up against policies from other popular companies.

Lemonade vs. Geico renters insurance

The main difference between Lemonade and Geico renters insurance is that Lemonade sells its own policies while Geico offers coverage through third parties. With Geico, your coverage and discount options may vary depending on which company ends up writing your policy. Both Geico and Lemonade offer bundling discounts if you buy more than one type of insurance.

The claims filing experience is another area where the companies differ. Lemonade claims are filed through its app, and some are processed instantly. With Geico, you’ll need to reach out to the third party that services your policy to file a claim.

You can get quick online quotes from both companies, but Lemonade’s renters policies aren’t available in all 50 states the way Geico’s are.

Lemonade has a unique “Giveback” program that donates a portion of its premiums to charities chosen by its policyholders. Meanwhile, Geico supports a variety of causes through the Geico Philanthropic Foundation.

Lemonade vs. State Farm renters insurance

One primary difference between Lemonade and State Farm is that Lemonade is one of the newest renters insurance companies in the industry, founded in 2015, while State Farm has been around for more than a century.

Lemonade takes a digital-first approach to insurance, offering most customer service functions, such as quotes, payments and claims filing, through its app. State Farm also has a robust website and app, but it has a large network of local agents for policyholders who want more personalized help.

Each company lets you add extra coverage to your base policy, though available options depend on where you live. They both also have bundling discounts if you buy more than one policy. However, State Farm has an advantage when it comes to consumer complaints. It’s drawn fewer complaints to state regulators than expected for a company of its size, while Lemonade has drawn more.

Lemonade comes out ahead when it comes to the speed of claims processing. Some of its claims are paid out almost immediately after being submitted through the app.

Other renters insurance companies to consider

Not ready to make a decision? You may be interested in these other renters insurance companies:

Other Lemonade products

NerdWallet's reviews of other Lemonade insurance products can help you find the right coverage for your needs:

Frequently asked questions

Lemonade sells homeowners, condo, co-op, car, term life and pet insurance.

The company advertises plans starting at $5 a month, but your own premium will depend on where you live and the amount of coverage you need. Discover the average cost of renters insurance.

Lemonade renters policies will generally cover liability claims if your dog bites someone outside your household, but some breeds are restricted from coverage in certain states. These may include pit bulls, German shepherds, Rottweilers and Siberian huskies. Learn more about dog liability insurance.

Methodology

Renters insurance star ratings methodology

NerdWallet’s renters insurance ratings reward companies for customer-first features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer complaints, coverage options, discounts and online experience. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our full renters insurance rating methodology.

Insurer complaints methodology

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2021-2023. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

In This Review . . .

    DIVE EVEN DEEPER IN INSURANCE
    Get more smart money moves – straight to your inbox
    Sign up and we’ll send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money.

    Overpaying for insurance? We'll let you know — and shop for lower quotes.

    Our insurance assistant shops 40+ carriers to get you quotes for lower premiums. Start by linking your current policies.