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Lemonade Home Insurance Review

Rating: 8.7 / 10 (Excellent)
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Lemonade is a new kind of home insurance company that markets itself as "what insurance was always meant to be." Bucking traditional business practices, Lemonade only takes a monthly set fee of 20% of your premium and returns any unused money to the community at the end of the fiscal year. Insurance companies usually make the bulk of their revenue from the premiums collected that were never used to pay claims. The company has no brokers and as a result can offer renter policies for as low as $5 and homeowner policies for as low as $25. Customers can get insured in as quick as 90 seconds using Lemonade's convenient app. 

Lemonade is licensed and reinsured by some of the most trusted names on the planet, including Lloyd's of London, and a certified B-Corp Public Benefit Corporation. The company has been covered in Forbes, the Financial Times, and the Economist. So far, Lemonade is licensed to offer insurance in New York and California, and renters insurance in Illinois.

Home Insurance Products Offered

Homeowners Insurance
Renters Insurance
Condominium Insurance
Co-op Insurance


Lemonade features an artificial intelligence bot called Maya that can get renters and homeowners quotes either online or through the company's app. In order to proceed with the application, Lemonade will require the following information:

  • Address
  • Rent/Own
  • Type of Property
  • Square Footage
  • Fire/Burglar Alarm
  • Own valuable jewelry, cameras, bicycles or fine art?
  • Claims in last 3 years
  • Social security number

Financial Ratings

In addition to being rated A-Exceptional by Demotech Inc., Lemonade is reinsured by some of the most trusted and stable financial institutions in the world, such as Lloyd’s of London and XL Catlin.

Lloyds of London FSR

Standard and Poor's A+
Fitch Ratings AA-
A.M. Best A


Lemonade only provides discounts for protection equipment you have installed. This includes burglar and fire alarms. 


Lemonade offers HO2 policies that cover the standard 16 named perils. In addition, the compensate for living expenses if you are forced out of your dwelling.

  • Theft
  • Lightning/Fire
  • Explosion
  • Smoke
  • Freezing
  • Vehicle Damage
  • Falling Objects
  • Volcanic Activity
  • Hail/Windstorm
  • Riot/Civil Disorder
  • Aircraft Damage
  • Vandalism
  • Ice, sleet, snow
  • Sudden or accidental burning or tearing apart
  • Damage from electric current
  • Overflow from plumbing, AC, etc.


Lemonade particularly excels at making the claims process easy. using the same artificial intelligence bot customers can open the app and have a claim filed in minutes. After finishing the claim report and submitting your bank information Lemonade strives to get claims paid immediately. However, there will be cases when further investigation is necessary. 

Home Insurance with Lemonade

Lemonade's very business model seems to suggest a customer has a lot better chance of getting claims paid than with typical home insurance policies. Since the company is taking 20% and and giving the rest away, this basically removes any impetus to deny claims in order to generate more revenue. Premiums are cheap too. If you are looking for a meat and potatoes policy to cover your home and belongings, Lemonade is an attractive choice. However, policy coverage is rather stock and there are few discount options to speak of. 

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9.6 / 10
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Latest Lemonade Reviews

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Palm Desert, California

You think you are buying 20,000 in contents coverage. They don't send the policy for review until after it is in effect. In our case 30 days after the purchase. Our theft occurred before we had access to the policy, and instead of seeing how it could handle the claim, it suspected fraud first, accused us of such - even though we had continuous coverage for several years. In the end the chief claims officer offer a nuisance settlement, using a silly equation, paying $500 for a $12,000 claim. There is a reason it is $7 a month -- you get what you pay for. I this case -- nothing worth the $7 a month.

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