Should You Change Your Home Insurance? This Tech-Forward Company Is Making a Strong Case. Lemonade is using technology to make insurance easier.

By StackCommerce

entrepreneur daily

Disclosure: Our goal is to feature products and services that we think you'll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

Lemonade

When you're in the market for a new home or apartment, there is some choice involved. Some may even find the process fun. But the honeymoon period quickly wears off when you have to deal with homeowners or renters insurance. You have to protect your valuables but overpriced, slow, predatory insurance companies aren't exactly out to make sure you get the best deal. Not only can getting coverage be an arduous process, filing a claim can be equally difficult. Fortunately, there's a company trying to throw these stereotypes out for good.

Lemonade is an insurance company that is powered by modern technology, with an eye toward the future. They're cutting through the red tape to make homeowners and renters insurance simple. Using the smartphone app, you can get access to reimbursements and approvals on policies in as few as a couple of minutes. You won't even have to pick up the phone or wait on hold for hours on end, which is already a win in our book.

Lemonade is built differently from the ground up, on the philosophy that insurance exists to help people, not rip them off. When you sign up with Lemonade, you pay a flat fee. They use this cash to pay claims, take a piece for themselves, and any leftover money is given to the non-profit charity of your choice. That way, your money truly works for you while you get quality insurance.

Getting started with Lemonade isn't hard; it takes as little as 90 seconds, the company says. You'll just need to provide your address and answer a few questions and their AI bot Maya will formulate the perfect insurance plan for your needs and your budget.

Filing a claim is just as easy, with some claims being paid in as little as three minutes, the company says. Because they use technology and have an emphasis in customer service, Lemonade is aiming to make homeowners and renters insurance something you won't dread.

Right now, you can get renter's insurance starting as low as $5 or homeowners insurance starting at $25. Check it out today and see how much you can save.

StackCommerce

Entrepreneur Leadership Network® Contributor

Account Manager

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Related Topics

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Starting a Business

This Retiree's Leisurely Side Hustle Makes $66,000 a Year and, 'You Don't Even Need to Go to High School to Do It'

Barbara Hill wanted a flexible, part-time job that would transition well into retirement. Now she mentors younger people who are making over $200,000 a year. Here's her insider's guide to getting started.

Thought Leaders

How to Become a Successful Social Entrepreneur

It's not the same as being a great business person.

Business Solutions

Save an Extra 20% on This AI-Powered Video Editing Tool

Give your video production a professional look with assistance from artificial intelligence.

Data & Recovery

Cyber Threats Are More Prevalent Than Ever — So Don't Leave Your Business Exposed. Here's How to Protect It.

Traditional risk management often fails to adequately address the unique challenges faced by modern businesses. If you're still utilizing a one-size-fits-all approach, it's time for an approach as distinctive as your business.