Life is full of twists and turns. It’s impossible to know what’s in store for you, but you can still plan for the best and prepare for the worst. Homeowners, condo, and renters insurance are among the best ways to protect your most valuable asset, your place of residence, from life’s many calamities.
Lemonade is a new insurer with an interesting business model, and it’s quickly growing in popularity. In this article, we’ll tell you what you need to know about Lemonade Insurance and how it can protect you when life gives you lemons.
Lemonade provides low rates on homeowner’s and renter’s insurance.
If you go online and read Lemonade Insurance reviews, you’ll quickly learn that Lemonade offers great rates on homeowners, renters, and condo insurance. Their website boasts renters insurance policies for as little as $5 a month and homeowners policies for as low as $25 per month.
Lemonade also has a package known as the “Zero Everything” package. This feature allows policyholders to make two claims per year without having to pay a deductible. Furthermore, these two claims will not cause their monthly premiums to increase. You can have peace of mind when you know filing a claim won’t raise your monthly premium.
Lemonade is a public benefit insurance company.
One thing you might not have expected about Lemonade is that it’s a public benefit corporation. A public benefit isn’t the same as a nonprofit, nor is it wholly a for-profit business. A public benefit company seeks to benefit the public in some fashion apart from the services they provide.
Lemonade does offer low-cost insurance products, but that’s not what makes them a public benefit company. You see, all the proceeds from insurance premium payments go into a fund from which Lemonade pays insurance claims. Whatever money doesn’t go toward operations or claims goes to charity as part of the Giveback program. The fact that Lemonade doesn’t make a profit from their premiums means they have an incentive to give clients the compensation they need for claims.
You can file claims using the Lemonade App.
We live in a world where we like everything convenient — even our insurance claims. That’s why Lemonade enables policyholders to handle all of their insurance needs, from paying insurance premiums to filing claims, using the Lemonade App.
When you file a claim using the mobile app, you shoot a brief video of yourself explaining your claim and upload it via the app. Depending on the type of insurance claim, you could get your settlement instantly! Indeed, around 25% of Lemonade claims are paid instantly.
The Lemonade revolution is spreading across the United States.
Lemonade is a rapidly growing insurance company. It was founded in New York in 2015 and now operates in 18 other states and Washington D.C. Some of the other states where Lemonade Insurance is available include Nevada, Rhode Island, Texas, Arizona, and North Carolina. Lemonade is continuing its push to expand into other insurance markets across the U.S.
Some insurance companies give the insurance industry a bad name by putting profits before people. The purpose of insurance is to help people through some of the most difficult moments in their lives. However, some insurers have become more known for bailing on their clients in times of trouble than bailing them out of trouble.
Lemonade is vastly different from most other insurance companies. Their business model puts people over profits, providing affordable home insurance and making it simple for policyholders to file claims. Furthermore, their Giveback program gives homeowners and renters a chance to give back to their favorite charities. Additionally, they began selling term life insurance and auto insurance. When life gives you lemons, you’ll be glad you have Lemonade Insurance.