What Is Lemonade Insurance?
Lemonade insurance is an insurance application or digital insurance company that was founded back in 2015. They offer a variety of insurance coverages throughout the United States. While not all of their coverages are available in every state, they have one of the largest reaches out of all of the digital insurance companies.
Lemonade insurance was an early adopter of artificial intelligence in writing insurance policies and claims. They have an interesting set up where your premium is broken down into operating expenses and the rest is dedicated to paying claims. An A.I. manages your claims and questions.
Lemonade Insurance Quick Facts
- Year Lemonade Insurance Started: 2015
- Insurance Provided By Lemonade: Renters Insurance, Home Insurance, Condo Insurance, Term Life Insurance, And Pet Insurance
- Lemonade Apps Rating:
- Google Play Store: 4.5 out of 5 stars
- Apple Store: 4.9 out of 5 stars
- States Lemonade Insurance Is Available In:
- Renters Insurance Locations: Arizona, Arkansas, California, Colorado, Connecticut, District of Columbia, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Texas, Virginia, Washington, and Wisconsin.
- Homeowners’ Insurance Locations: Arizona, California, Colorado, Connecticut, District of Columbia, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Virginia, and Wisconsin.
- Condo Insurance Locations: Arizona, California, Colorado, Connecticut, District of Columbia, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Rhode Island, Virginia, Washington, and Wisconsin.
- Pet Health Insurance Locations: Alabama, Arizona, Arkansas, California, Connecticut, District of Columbia, Georgia, Illinois, Indiana, Iowa, Maryland, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, and Wisconsin.
- Landlord Insurance Locations: New York, California, Texas, Illinois, Pennsylvania, District Of Columbia, or New Jersey
When Will Lemonade Insurance Be Available In My State?
There are multiple reasons that Lemonade insurance is not available in your state. Selling renters and home insurance in your state might not be profitable, or they have yet to develop a software or algorithm that works with renters and home insurance in your state. We will try to update the location information for Lemonade insurance regularly.
What Are The Pros & Cons Of Lemonade Insurance?
There are pros and cons to all technology. Lemonade insurance is not an exception. Here we take a look at the key selling points of Lemonade insurance as well as the negative reviews. This is to help provide insight into their insurance coverage and their operation.
The Pros Of Lemonade Insurance
Lemon insurance is very beneficial for getting insurance quickly if you are approved. They indicate on their website that you can get insured within 90 seconds. They also indicate that their insurance is a flat fee. From that fee, they acquire their operation costs and they pay claims. Any money that was leftover you can use to get back to a cause of your choice.
The pros seem to be simplicity and a lack of human interaction. The bonus of giving back to
The Cons Of Lemonade Insurance
The cons of using lemonade insurance are primarily pointed out in the negative reviews. There’s typically a lack of communication and assistance when trying to file a claim. This is the most important part of insurance. When paying for insurance, you are paying for when the catastrophes and damages hit your home or apartment. There’s no point in purchasing insurance if it is not there to protect you and provide its services in the moment of need. This is common in many insurance apps.
They Only Provide A Few Insurance Coverages
It might not seem like a big deal that lemonade insurance only provides a few types of insurances, but it completely defeats the purpose of saving you time. Because Lemonade insurance does not provide auto insurance, you will still have to communicate with an additional insurance company to cover your vehicles. Most homeowners own vehicles. While the app is designed to save time, if you are still working with another insurance company it’s actually increasing the amount of time you spend on insurance, and potentially increasing the amount of money you are spending. Most insurance companies are able to lower your home and car insurance premiums when you bundle them together.
Negative Reviews From Lemonade App Users:
The Lemonade App reviews are the most telling indicators of what your experience will be with Lemonade Insurance. Reviews for the app are averaging above four stars. This is great! But let’s dive in and see what is keeping lemonade from being most effective as an insurance agency.
Lemonade App Fails When It Is Most Needed
The second-largest complaint among lemonade app users was the failure of the operation of the app. A number of them indicate the app failed to work specifically when filing a claim, Lemonade was unresponsive for a long time once a claim was filed, and they would be unable to move forward due to the app.
According to one review, the lemonade app was working fine until they tried filing a claim. When they tried to file a claim it was not effective. The only way to file a claim with lemonade is through the application. So in instances where you need to file a claim on your phone or the app is not operating correctly there is no backup. And that is the truth behind the technology, it is great when it works.
Declined Coverage From Lemonade App
A large number of reviews indicate that people are declined for a wide variety of reasons. One person indicates they had to cancel coverage because of being unemployed due to COVID-19. When they obtained a job again, they applied and were denied because of the previous cancelation. Other people indicate they go through the entire application process and they are denied in the end due to their property not being eligible. Their annoyance seems to be in the fact that the app knew this the whole time and couldn’t provide that info at the beginning.
Lemonade Increased Insurance Premiums
A few people ran into problems after having the insurance coverage for a year. They indicate that their insurance premiums increased drastically.
Compare Lemonade Insurance To Strickler Insurance
We understand you want to shop around for renters and home insurance. Contact us at Strickler Insurance to get a free quote on renters and home insurance. We are located in Lebanon Pennsylvania and have been providing coverage for over 160 years. We provide insurance in PA, MD, NY, NJ, DE, and VA. Contact us to compare renters and home insurance!
Learn about the pros and cons of other insurance apps.