Our Lemonade renters insurance review highlights an insurer that focuses on value and speed. Lemonade’s solid customer and expert review scores, coupled with its bent toward low-cost yet valuable policies, earn Lemonade a spot in our overview of the best cheap renters insurance providers. Here’s a look at what the company offers, its features and benefits, and how to decide if a Lemonade renters policy is right for you.
Pros
Affordable policies start as low as $5 per month
Fast digital service with AI-powered quotes and speedy claims processing
Clear replacement cost coverage included in basic policies
Leftover premium donations go to charity
Also offers homeowners, car, term life, and pet insurance
Cons
Only available in 29 states plus D.C.
Somewhat higher than average complaint count
About Lemonade Renters Insurance
Lemonade began in 2015 and operates out of New York City. It’s a tech-first insurance company offering renters, homeowners, car, pet, and life policies. The company operates as a Certified B‑Corp, reflecting a mission-driven model that includes taking only a flat fee, paying claims promptly, and donating leftovers to charity.
The company also focuses on offering budget-friendly coverage options. A 2025 LendingTree analysis found Lemonade’s average renters premium to be $12 per month, which is about 36 % less than the national average
Lemonade ranked third in customer satisfaction for renters insurance in the J.D. Power 2024 Home Insurance Study.
Features and Benefits
Lemonade renters insurance is a solid choice for those who prefer fast and hassle-free service without sacrificing essential protections. Lemonade’s most stand-out benefit is its inclusion of replacement cost coverage in even basic renters policies. If your phone, TV, or sofa is stolen or damaged, Lemonade reimburses you enough to replace it with a new equivalent rather than paying the depreciated value.
Another standout feature is Lemonade’s Extra Coverage protection, in which you can list individual personal property for coverage. The option gives valuable items like jewelry, bikes, and cameras full deductible-free protection, even for mysterious loss, making it ideal for renters with specific high-value possessions
Lemonade’s digital format is miles ahead of many competitors. Manage everything from renters insurance quotes to policy changes and claim submissions online or through the mobile app.
Its AI claims process resolves roughly 40% of simple claims instantly, with human follow-up sometimes necessary for more complex claims. You can also bundle pet insurance, term life, or auto policies
- Replacement cost protection for personal property
- Personal liability and medical payments coverage available
- Additional living expense support if your residence becomes uninhabitable
- Scheduled “Extra Coverage” for high‑value items with zero deductible
- Fast AI-powered digital quotes, account management, and claim filing
- Bundling options available
- Transparent flat‑fee model with leftover premiums donated to charity
Lemonade Renters Insurance Reviews: Editorial Rating
Trusted Company Reviews Rating Score: 8.3
Lemonade earns high marks for affordability, simplicity, and speed. Its tech-driven model delivers quick and simple insurance quotes, digital upload filing, and fast claims service. Some claims resolve in just seconds.
However, Lemonade renters insurance is only available in 29 states and Washington, D.C., meaning it’s inaccessible to many potential renters.
| Average Monthly Premium Cost | $5 to $12 |
| Deductible Options | $500 to $1,000 |
| BBB Rating | B (accredited) |
Why We Like It
We like that Lemonade modernizes renters insurance through its app-first service approach, AI-enabled claims, and comparison-friendly quotes, which simplify the whole process. The company’s Giveback program appeals to socially conscious renters, and replacement-cost coverage, included in virtually all policies, offers a high degree of peace of mind.
What We Don’t Like
Perhaps due to Lemonade’s somewhat do-it-yourself business model, the company has stacked up more customer complaints than average for its size.
Lemonade Renters Insurance Customer Reviews?
Lemonade customer ratings on Trustpilot are healthy, at 4.4 out of 5-stars for all of its insurance products, including renters, home insurance, and its pet insurance. Positive feedback often includes reports of fast claims processing, affordability, and ease of use. Consumer Affairs users frequently describe claims customer service as “same-day” and “reliable.” However, there are some negatives, including statements that Lemonade’s primarily app-based support leaves some renters with questions and limited answers.
Who Is Lemonade Best For?
Lemonade policies are an excellent choice for renters who value speed, affordability, and tech convenience over extensive coverage options. If you rent your home in one of the 29 available states and your priority is getting your hands on an affordable coverage policy, Lemonade can be a good match.
Amica vs Lemonade Renters Insurance
When choosing between Amica and Lemonade for renters insurance, the decision often comes down to coverage depth and personalized service versus digital simplicity and cost savings.
Amica offers highly customizable coverage, including endorsements for water backup, identity theft protection, and additional living expenses. It operates on a traditional mutual model, which contributes to its high satisfaction ratings and the ability to offer dividends to is customers.
Lemonade, by contrast, provides broad coverage for personal belongings, liability, and additional living expenses, but limits endorsements to a few scheduled options, making it less flexible for complex coverage needs.
Lemonade typically offers more affordable rates, with average premiums around $12 per month, which are among the lowest nationwide. Amica’s average is higher, at about $17 monthly, but many renters appreciate the extra coverage options and dividend opportunities it can provide.
Amica earns consistently high marks in J.D. Power’s rent insurance rankings, with callouts for excellent performance across service categories. While Lemonade also receives high marks in these areas, its complaint ratio is higher than that of Amica’s.
Overall, Amica offers extensive coverage and award-winning customer service, while Lemonade prioritizes providing fast and extra-low-cost, albeit more basic, renters insurance.
| Amica | Lemonade | |
| Average Monthly Premium Cost | $16 to $26 | $5 to $12 |
| Deductible Options | $500–$2,000 | $500–$2,000 |
| BBB Rating | A+ (accredited) | B (accredited) |
Filing a Claim With Lemonade
Filing a claim with Lemonade is part of what makes working with the company appealing. You can simply open the app, tap “Claim,” describe the incident, and in many cases, the AI bot settles your request instantly. For larger or more complex claims, a human adjuster will step in and quickly handle the issue.
Lemonade Renters Insurance Alternatives
Lemonade is a frontrunner among the best cheap renters insurance companies available. However, it’s only available in 29 states. Additionally, while purchasing a Lemonade policy will likely save you money, its coverage options can feel limited in scope compared to other providers with highly customizable coverage options. Here are a few other rental insurance providers that rank well in our research.
- Amica: Excellent for claims handling, disaster endorsements, and customer service
- Erie: Offers replacement value reimbursements, but is only available in 22 states
- USAA: Provides excellent customer service and competitive pricing, but is only available to those with military affiliation.
- State Farm: A full-service insurer with online tools as well as agent availability
Frequently Asked Questions
How legit is Lemonade renters insurance?
What is the best company for renters insurance?
Source
Logo image source: lemonade.com
Deane Biermeier is a certified financial educator through the University of Minnesota and a respected authority in financial research, writing, and editing, renowned for his in-depth analyses and expert advice. With a distinguished career that previously spanned home improvement, real estate, and finance topics, Deane's role at Trusted Company Reviews focuses exclusively on finance.
Deane has contributed to leading publications such as Forbes Home, US News and World Report, Newsweek Vault, and others.
Since joining TrustedCompanyReviews.com in 2023, he has solidified his reputation as a crucial resource for clear, factual financial guidance.
Deane Biermeier
Last Updated: June 28, 2025
Best Companies for June 2025
Editorial Reviews
Must Reads
Do You Need Renters Insurance? Your Top 10 Questions Answered
Do you need renters insurance? Probably, but not because the law requires it. Renters insurance often feels like one of those optional extras, especially when you're focused on putting together your deposit, moving in, and settling down. But skipping it can leave you...
Student Loan Refinance Calculator
If you're stuck with high interest rates or managing multiple payments each month, refinancing your student loan could be a smart move. This student loan refinancing calculator helps you quickly determine how your current loan setup compares to current refinancing...
Do I Need ID Theft Protection?
Do I need ID theft protection? It’s a fair question, and one that’s more relevant than ever. The Federal Trade Commission recently reported that consumers lost $12.5 billion to fraud and scams last year. That's not a small number. In a world where our personal...
Video Calling Devices for Seniors: 6 Key Considerations When Choosing
A recent poll by the Institute for Healthcare Policy and Innovation found that 34% of adults aged 50-80 reported feeling isolated from others. While the number is an improvement on the previous 56%, it still highlights the importance of frequent and engaging contact...
The 10 Best Brain-Training and Games Apps for Seniors
The U.S. is aging quickly, as the more than 62 million adults over 65, as reported by the Pew Research Center, account for nearly 20% of the total population. Furthermore, the Alzheimer's Association states that within those numbers are more than 7 million Americans...
8+ Essential Mobility Aids for Seniors
If you are a senior experiencing mobility challenges, you’re not alone. According to the National Library of Medicine, more than ⅓ of people over 70, and almost all over 85, experience mobility challenges. As medical advancements provide us with a longer lifespan,...
AARP Vs AMAC: Which To Choose?
Related Article: Best Senior Discounts AARP Vs AMAC If you’re unsure which organization is best, you’ve come to the right place. Our breakdown of AARP vs AMAC outlines everything you need to know about these two organizations and will give you a clear picture of which...
Best Senior Discounts
You may be getting a little older, but it’s not all bad. With age comes wisdom, and some pretty amazing senior discounts. Retailers across the nation want your business and to draw you in, are offering steep discounts on their products and services. In this article,...
Top Travel Ideas for Seniors with Limited Mobility
Are you a senior who finds travel difficult due to mobility and accessibility challenges? If so, you’re not alone. A study by the Bureau of Transportation found that more than 57% of people over age 65 have a similar experience. To help you live out your travel...
Can I Refinance My Private Student Loan?
The weight of student loan debt can feel overwhelming, especially for graduates of professional programs like law school and medical school. According to the latest data from the American Bar Association, the average law school graduate owes approximately $130,000 in...
Social Links
