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Lemonade Homeowners Insurance Review

17 Customer Comments & Reviews - see all comments
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Lemonade is an insurance company that operates as a B (Benefit) Corporation chartered to do business with an eye toward social and ecological betterment.

During years where the amount it collects in premiums exceeds what it sets aside for current claims, administrative expenses, and future claims, that excess is donated to causes approved by its shareholders.

How is Lemonade rated?

Breakdown

4.8/5
Coverage Options
4.8/5
Pricing and Discounts
5.0/5
Customer Service
5.0/5
Financial Strength
4.5/5
Add-On Coverages

Overall Rating: 4.9 / 5 (Excellent)

Lemonade began operations in 2016 as a B corporation, a type of business entity that shares some similarities with nonprofits.

The company is committed to using its excess revenue to support socially and environmentally responsible causes. It is reinsured by Lloyds of London and other companies.

Because of the company's newness, small size, and limited geographical reach, many of the metrics with which traditional insurance companies are compared are unavailable for Lemonade.

Financial Strength

Financial Strength - 5 / 5

As Lemonade is relatively new and small and operates on a different financial model than other insurance companies, it's difficult to assess its financial strength.

It is not listed by the usual business finance rating firms. However, the company has a Financial Stability Rating® of A-Exceptional from Demotech Inc. and is reinsured by Lloyds of London and XL Catlin.
Underwriter
Lloyds of London
Premiums Written
$0
*The above information reflects the financial strength of the underwriter of the Lemonade home insurance policies: Lloyds of London.

Customer Experience

Customer Service - 5 / 5

From its fun name to its user-friendly website, Lemonade is clearly trying to put their customers at ease and make buying insurance more fun than it is with some traditional insurers.

Since the company does not have much history behind it, however, it's hard to know how well this positioning translates into positive claims experiences.

The company has no offices or agents and does not publicize its phone number-all interaction with Lemonade is done online.

National Association of Insurance Commissioners

NAIC Complaint Ratio
0.0
NAIC Total Complaints
0
*The NAIC complaint ratio (in this case 0.0) is a ratio of the number of complaints a company received to the total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Customer Ratings

Date Collected
2017-12-10

Lemonade Coverage

Coverage Options - 4.8 / 5

Lemonade's policy is termed inclusive, meaning that it covers only what is specifically included in the policy language.

The company's website claims that policies cover 16 different perils, but does not fully describe what they are, though they do include theft, fire, explosion, and vandalism.

Their homeowners policy also includes liability coverage.
Basic Coverage Types
Dwelling Protection
Personal Property Protection
Liability Protection
Additional Coverage
Scheduled Personal Property Coverage

Pricing & Discounts

Pricing and Discounts - 4.8 / 5

Unlike traditional insurers, Lemonade is chartered as a "B corporation," which mean that their objectives are not only maximizing shareholder value, but also improving society and the environment.

What other companies would describe as "profit" is channeled by Lemonade into various causes. The company concedes that in some instances, this will make its policies more expensive than those of traditional insurers.

Household Discounts

  • Home Safety Features

Policy Discounts

  • Higher Deductible

Contact & Additional Information

Homepage URL
Headquarters Address
85 Broad Street, New York, NY, 10004
Year Founded
2015

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17 Customer Comments & Reviews

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boomerbeach00
8/15/2023
Ridiculous not to provide support for Galvanized or Cast Iron pipes. This is most homes.


James H
6/29/2021
I had progressive for a month they called half a dozen times wanting me to paint my plastic permanent color siding thats less than 10 years old and 0 fade ........Paint vinyl siding.......i explained if they could tell me why id entertain, crickets..........Paint vinyl siding<---- if you use them its on you i pulled mine i dont need a call in November with 3ft of snow an them wanting me 2 concrete my grass......😂😂😂


C
carolyn h
12/22/2020
I contracted them last week and reading their information thought I could get insurance in a couple of days---well it has been a week and they are asking for all kinds of information -like a home inspection, we had one done in 2006-and they want the papers from our current insurance. I have never heard of that, I was in real estate for yrs and that is a new one. I am ready to go somewhere else. I feel they are using false statements. There is nothing fast about this company.


R
Randall T
6/15/2020
Very dependent on location of fire department. We're 2 miles away from fulltime manned fire station . Means 5 blocks in town then 55 mph on the hwy for 1.5 miles. Still to far away apparently.


robikanoff
1/30/2020
You know it literally took 5 minutes to buy, but the real reason why I love them is the claims process. I unfortunately I had a kitchen fire and there is soot and smoke damage everywhere. I have been dealing with Ashley and she has been totally wonderful. They paid out my 1st portion of the claim in literally 2 hours!!🤘🏻😍🥰. (I had almost $1500 worth of pressed powder makeup destroyed with soot.) Thank you. I will thank you again after my trip to MAC and Sephora!! Thanks again Robi Phoenix


Monique F
8/13/2019
Getting in touch with a human at Lemonade was one of the hardest things I've ever had to do. I made a claim for my bed after my apartment was flooded. I needed to know about my coverage on a Friday because I could not stay in my bedroom and needed to know if I would be covered to stay in a hotel (as my plan said was the case). I did not get a single human response to my emails and could not get some one on the phone for over a week. They denied my plan saying it was due to poor maintenance, however, my landlord said it was "an act of God" that caused the flooding. I got a denial and after back and forth with my landlord have decided to appeal. A week has gone by since my original email... Read More


Frank M
4/19/2019
Would not insure my single family rental, no reason given. Filled out questions online. Not sure what's up.


jojo r
3/28/2019
I’ve been drop for no reason.but still waiting for my refund check since I paid a whole year they told me I will receive a check with. 2 to 3 weeks.now it’s been 3 months and I never heard or got any check on the mail I contacted them to find out and nobody can answer when my check will arrive since they need to send it to underwriting so I guess another 2 months.they hold me from having new insurance since they holding My Own money and can get any response asap.they took my money in seconds but they can’t give it back the same way.i can’t believe this insurance still be in business if it’s simple transaction make them hard. I would never recommend this lemonade insurance at all. And also... Read More


Rhonda E
11/28/2018
This company has to be the worst Insurance company, my house burned down on June 17, 2018. I personally have Allstate and can't say enough on how wonderful they are. My step daughter and renters insurance through this company, she was renting the house from me. I was paid in full my Allstate for the structure on my home in a weeks time. It is now November 28, 2018 almost 6 months later and Lemonade as yet to pay my step daughter. I have had to replace all of her furniture with part of my settlement, so her kids and her would have beds to sleep in, and furniture to sit on. Not counting house whole necessities. She has two small children everything they owned was destroyed. Her... Read More


makecreative1
10/20/2018
They are trying to interrogate people because they are trying to get people for insurance fraud when you don't even know. When they are the ones that need to get reported for fraud because they are doing crap to its customers. I signed up because my real insurance company who this never would have happened with because I would have been able to talk to someone to let me know I couldn't get it. They advise me to get renters because I called them about vandillism to my car. So I found this insurance and got it because it looked like a better deal its not. Then later they robbed me and I tried to make a claim and they are trying to say I was trying to do insurance fraud. I told the guy that... Read More



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