In MoneyGeek's analysis of the best renters insurance companies, Lemonade earns a 4.68 out of 5 overall score. This ranking reflects a balance of affordability, customer service and coverage quality. The table below shows Lemonade's MoneyGeek score for each category out of 5 and its national rank based on a sample renter profile.
Lemonade Renters Insurance Review
Updated: January 21, 2026
Advertising & Editorial Disclosure
Lemonade
MoneyGeek Rating
4.7/ 5
4.9/5Affordability
4.9/5Customer Experience
3.6/5Coverage Points
Average Annual Premium
$134Number of Endorsements
1Number of Discounts
2
Key Takeaways
With a 4.74 out of 5 affordability score, Lemonade charges an average of $134 per year for $20,000 in personal property coverage, 32% below the national average.
Lemonade's digital-first platform allows you to file claims through its app, with straightforward claims potentially resolved immediately through AI technology.
The insurer offers Extra Coverage for high-value possessions including jewelry, bikes and cameras, featuring deductible-free claims and accidental damage protection.
Lemonade Renters Insurance Ratings: MoneyGeek’s Review
| Overall | 4.68 | 6 |
| Customer Experience | 4.68 | 18 |
| Affordability | 4.74 | 13 |
| Coverage | 4.36 | 17 |
How Much Does Lemonade’s Renters Insurance Cost?
For $20,000 in personal property coverage, Lemonade charges $134, while $100,000 in personal property coverage costs $488 per year. Your location, credit score and claims history can all influence your premium, along with your chosen coverage level and deductible. Toggle through the table below to find affordable renters insurance rates from Lemonade based on the coverage limits you need.
| $20K Personal Property / $100K Liability | $11 | $134 | -32% |
| $50K Personal Property / $100K Liability | $24 | $286 | -15% |
| $100K Personal Property / $100K Liability | $41 | $488 | -13% |
| $250K Personal Property / $300K Liability | $76 | $918 | -21% |
Lemonade Renters Insurance Cost by State
Where you live plays a major role in your Lemonade renters insurance premium because insurers price policies based on local risk factors. Crime rates, weather patterns and the cost to replace damaged property all vary by state, which explains why renters in Arizona pay around $90 annually while those in Florida pay $282. The table below breaks down what Lemonade charges across its available states for various personal property limits with a $500 deductible.
Data filtered by:
Arizona
| $20K Personal Property / $100K Liability | $7 | $90 | -62% |
| $50K Personal Property / $100K Liability | $16 | $193 | -52% |
| $100K Personal Property / $100K Liability | $27 | $323 | -47% |
| $250K Personal Property / $300K Liability | $76 | $918 | -15% |
Lemonade Renters Insurance Discounts
You can reduce your Lemonade renters insurance costs through two available discounts:
Bundle Discount | Save money by combining your renters insurance with another Lemonade policy, such as car, pet or life insurance. |
Protective Devices Discount | Qualify for lower rates when your rental includes safety features like deadbolts, smoke alarms or burglar alarms. |
What Does Lemonade Renters Insurance Cover?
Lemonade renters insurance includes the three standard renters insurance coverages that protect your belongings, shield you from liability and cover additional living expenses. These core coverages form the foundation of what renters insurance covers.
Personal Property Coverage
This coverage applies to your belongings when they're damaged or stolen due to covered events like fire, theft or vandalism. Your furniture, electronics, clothing and other personal items receive financial protection up to your policy limit.
Personal Liability Coverage
Liability coverage handles the financial consequences when someone gets injured in your rental or you accidentally damage someone else's property. The coverage takes care of legal fees, medical bills and settlement costs up to your policy limit.
Loss of Use Coverage
When a covered event makes your rental unlivable, this coverage handles hotel costs and meal expenses during your temporary relocation. It also covers other additional living expenses like storage fees and pet boarding costs that exceed your normal spending.
Optional Renters Insurance Coverages from Lemonade
If you own high-value possessions, Lemonade's Extra Coverage endorsement extends protection beyond your standard policy limits for items like jewelry, cameras, bikes, fine art and musical instruments, subject to state availability. The coverage eliminates your deductible on these items, covers accidental damage and protects against mysterious loss when valuable items go missing. You can add Extra Coverage to your policy for an additional charge, and the process to set it up is straightforward through the Lemonade app.
What Does Lemonade's Renters Insurance Not Cover?
Lemonade's standard renters insurance excludes certain types of damage and losses, including floods, earthquakes, intentional destruction and business operations. These coverage gaps require additional insurance products to address.
Natural Disasters
Water damage from rising floodwaters and destruction from seismic activity aren't included in your base policy. You'll need to purchase standalone flood insurance through the National Flood Insurance Program or private insurers and separate earthquake coverage if these risks affect your area.
Business Property and Liability
Equipment, inventory and liability related to running a business from your rental aren't covered by renters insurance. If you operate a business from home, you'll need separate business insurance or a business property endorsement.
Intentional or Criminal Acts
Your policy won't cover losses you cause on purpose or damage resulting from your criminal actions. Renters insurance protects against accidents and unexpected events, not deliberate destruction or illegal activities.
How to Buy Lemonade’s Renters Insurance
You can buy renters insurance from Lemonade entirely online through its website in just a few minutes. The company's digital platform guides you through each step without needing to speak with an agent.
- 1Calculate Your Coverage Requirements
Determine how much renters insurance you need by listing your belongings and estimating their total replacement value through a home inventory. Factor in liability protection needs and decide whether valuable items like jewelry or electronics require Extra Coverage.
- 2Visit Lemonade's Website for an Instant Quote
Go to Lemonade's website and answer questions about your rental property, desired coverage amounts and personal details. The platform generates your quote within minutes based on the information you provide.
- 3Select Your Coverage Level and Deductible
Choose between different personal property limits ranging from $20,000 to $250,000 and pick a deductible that balances your premium cost with out-of-pocket expenses. Review how each option affects your monthly or annual payment.
- 4Add Available Discounts to Lower Your Rate
Apply Lemonade's bundle discount if you have another policy with the company or plan to purchase one. Input information about your rental's protective devices like smoke detectors and burglar alarms to qualify for additional savings.
- 5Finalize Your Purchase Online
Review all policy details, confirm your coverage selections and payment information, then complete your purchase through Lemonade's website. Your coverage typically begins immediately once you submit payment and your application is approved.
How to File a Renters Insurance Claim with Lemonade
Lemonade's claims process runs completely through its app, allowing you to file anytime from your phone without paperwork or phone calls. The company uses AI to review claims instantly, with many approved and paid within seconds, while more complex cases go to Lemonade's claims team for quick resolution.
- 1Tap the File a Claim Button in Lemonade's App
Open the Lemonade app on your phone and select the "File a Claim" option to start the process. The app is available 24/7, so you can report damage immediately after it happens.
- 2Describe What Happened to Your Property
Explain the incident through the app by answering questions about what occurred and when the damage took place. Upload photos and videos of the damaged items directly through your phone to support your claim.
- 3Let Lemonade's AI Review Your Claim
Lemonade's AI system runs dozens of anti-fraud algorithms to verify your claim information within seconds. The technology cross-references your policy details, claim history and submitted documentation to determine approval.
- 4Receive Instant Payment or Human Review
If Lemonade's AI approves your claim instantly, you'll receive payment in seconds directly to your account. For claims that need additional review, the AI transfers your case to Lemonade's claims team, who handles it as quickly as possible.
Lemonade Renters Insurance: FAQ
Review answers to common questions about Lemonade renters insurance below.
How does Lemonade perform as a renters insurance provider?
Lemonade earns a 4.68 out of 5 MoneyGeek score based on affordability, customer experience and coverage quality. The company earned a 4.74 out of 5 for affordability (13th nationally) but ranks 18th for customer experience with a 4.68 score and 17th for coverage with a 4.36 score.
What does Lemonade charge for renters insurance?
Lemonade charges an average of $134 annually for $20,000 in personal property coverage with $100,000 in liability protection. Your actual cost depends on your state, coverage limits, deductible and personal factors like credit score and claims history.
Can you get discounts on Lemonade renters insurance?
Yes, Lemonade offers two discounts to reduce your premium. The bundle discount applies when you combine renters insurance with another Lemonade policy like car or pet insurance, while the protective devices discount rewards safety features like deadbolts, smoke alarms and burglar alarms.
Lemonade Renters Insurance Rates: Our Methodology
We used the following base profile to determine Lemonade's rates and compare its affordability against other renters insurance providers:
- Adult renters aged 26 to 64
- Renters with a "good" credit rating
- No claims history in the last five years
- Owning an apartment or condo
We also used the following base policy to calculate Lemonade's average premiums unless otherwise stated:
- $20,000 personal property coverage
- $500 deductible
- Replacement cost
Our ratings system for evaluating Lemonade consisted of the following scoring mechanisms:
- Affordability (55% of score): Using our base profile as a guide, we compared Lemonade's costs relative to the national average and competition.
- Customer experience (35% of score): We considered forum ratings from Lemonade customers, industry studies from J.D. Power and Lemonade's AM Best Financial Strength score.
- Coverage (10% of score): This score considers Lemonade's add-on coverage selections relative to the average and the uniqueness of selections available.
Renters Insurance Review for Lemonade: Related Articles
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
- Lemonade. "Renters Insurance Coverage Options." Accessed January 19, 2026.
- Lemonade. "Renters Insurance Discounts." Accessed January 19, 2026.