So you’ve decided to shop around for your insurance. On your way to find the best insurance company, you may find Lemonade as one of the recommended companies as a partner. When just click and pay is not a good idea when you are shopping around, learning some Lemonade insurance reviews will be a good idea.
How Does Lemonade Work?
Let’s start by understanding how this company works. Lemonade is considered transparent when it comes to its setup. This company takes a flat 20% fee off your insurance premium to cover technology replacement, running costs as well as officer salaries. Then, the rest of the customer’s premiums go to insure its customers.
What is interesting about this company is that you will find it donates remaining money to a group that you choose at the end of June. There is another thing that makes it different from other traditional insurance companies. In contrast to other insurers, Lemonade doesn’t look at an additional dime if there is less payout. It means that the company will not make your life hard by presenting large bureaucratic hurdles and deductibles.
If you choose Lemonade as your partner, it will offer you homeowners insurance, renters insurance as well as insurance for coop and condo dwellers. The basic policies of its insurance include protection against damage or theft, individual liability insurance and medical insurance (if there is a resident or guest gets an injury in your home).
Moreover, Lemonade presents add-on additional coverage as well for earthquakes, loss or accidental damage and valuable items.
As you may find in other Lemonade insurance reviews, Lemonade is entirely digital, transparent and fast which makes this company one of the most popular, especially among young adults. For your information, about 75% of its customers are under 35.
How Much Does Lemonade Cost?
Then, how much does it cost? Well, you must have known that it is actually impossible to predict how much an insurance company will charge on each person. This is because every person comes with different circumstances that make their insurance quote is dissimilar from one to another.
Remember that your premiums will be based on various factors including the number of your personal property, where you live, additional coverage items you choose and so on.
But, you can note that the policies of Lemonade insurance start at $5 a month. This is surely away lower than any traditional insurance company out there. If you want to know the estimation of your premium, you can benefit the Lemonade app or Lemonade official website. There you can get your accurate quote.
If you are interested, you can improve the level of your coverage as well by adding some specific items. Currently, there are fine art, cameras, jewelry, musical instruments, and bikes.
Overall, Lemonade is one of the best online insurance companies that you can take into account. The process with the company is smooth and easy. You just need to take a few minutes only to get your quote and complete your application. That’s all the Lemonade insurance reviews, hope you can benefit from this information.