This tech company is making $5 renter’s insurance work

This tech company is making $5 renter’s insurance work

You’re not the only one. Founded in 2015, Lemonade adopted a user-friendly technical interface right out of the gate. The result was an insurance company that was not only easier to engage with, but more affordable – and even ethical.

These benefits come directly from the way they engage with their customers. Signing up is surprisingly easy, with just a few questions to answer on Lemonade’s website or app. There’s no brokers or middlemen to muddy the process and eat up commissions, so fees are kept low. Renters can get a plan for as little as $5 a month, and homeowner plans start at $25.

That’s a flat fee, not tied to the arbitrary risk factors that other insurance companies impose. That business structure means there’s no incentive not to pay your claim should the worst happen. With a Lemonade plan, your fees are going mostly toward tech improvements for the company and reinsurance that protects you in case of contingencies.

If you do need to file a claim, the process is just as easy. You’ll answer a few questions from their AI claims processor, with a video call in case the claim needs review. If you’re approved instantly, you’ll get paid instantly, right through the app.

Perhaps best of all, any unclaimed money doesn’t get funneled back into their profits. Lemonade lets you designate a charity when you sign up and gives any surplus to that charity if you don’t file a claim.

Disruptive? Yes, and that’s kind of the point. Outlets like Fortune and the Wall Street Journal are taking notice, and homeowners are too. Find out more about Lemonade’s renter and home insurance plans today.

Engadget is teaming up with StackSocial to bring you deals on the latest headphones, gadgets, tech toys, and tutorials. This post does not constitute editorial endorsement, and we earn a portion of all sales. If you have any questions about the products you see here or previous purchases, please contact StackSocial support here.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit.
Categories :
Share This :

Related Post

One Response

Leave a Reply

Your email address will not be published. Required fields are marked *

Search

Get Full experience in audio

Keep Updated about our Promo and Deals in Noiz Shop

Have A Question?

Keep Updated with our newsletter. Subscribe now.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam vel risus imperdiet, gravida justo eu.