Insurtech Lemonade (NYSE: LMND) has launched its renters insurance product in Minnesota, completing its expansion across all 50 US states and Washington, D.C. The launch makes Lemonade Renters the company’s first insurance product available nationwide.
- Lemonade Renters is now available in all 50 US states and Washington, D.C., becoming the company’s first insurance product offered nationwide.
- Renters insurance policies start at $5 per month, with digital purchasing, customizable coverage and claims management through the Lemonade app or website.
- Lemonade serves more than 3 mn customers across the US, UK and Europe, offering renters, homeowners, pet, car and life insurance.
Renters insurance remains a central product for Lemonade, which has built its business around technology-driven insurance distribution and claims processing. The company offers customizable coverage designed to simplify the process of protecting personal belongings.
From the start, we built Lemonade Renters to remove the complexity that makes traditional insurance frustrating, and to offer affordable coverage that renters can buy and manage on their own terms.
Dan Timsit, Head of Renters Insurance at Lemonade
“With Minnesota, that experience is now available to every renter in the country. Our team reached this milestone one state at a time, and we’re proud to mark it today,” said Dan Timsit.
The expansion extends Lemonade’s digital insurance offering to Minnesota residents, allowing renters to purchase and manage coverage directly through the insurer’s website or mobile app.
Lemonade renters insurance starts at $5 per month
Lemonade Renters policies start at $5 per month, although coverage limits and deductibles vary by state.
Customers can obtain quotes, purchase policies, modify coverage and submit claims through the Lemonade app or website without traditional paperwork or intermediaries.
The insurer also offers potential premium reductions for renters who bundle coverage with other Lemonade insurance products, install qualifying home safety devices or select annual billing.
Minnesota residents can now obtain renters insurance quotes directly through Lemonade’s digital platforms.
Lemonade serves more than 3 mn insurance customers
Lemonade operates as a technology-focused insurance carrier, offering renters, homeowners, pet, car and life insurance products.
The company serves more than 3 mn customers across the US, UK and Europe and employs over 1,300 people. Its insurance platform uses artificial intelligence to support policy administration and claims processing. Nearly half of customer claims are paid within seconds.
The company combines AI-based insurance operations with a stated focus on social impact and customer experience.
With Minnesota added to its distribution network, renters insurance becomes Lemonade’s first product to reach all US states and Washington, D.C., extending its existing digital insurance model to the entire national market.
