Overview of Lemonade Insurance
Lemonade Insurance is a popular insurance company founded in 2015 by Daniel Schreiber and Shai Wininger. It operates in the US and Europe, offering various insurance policies with an innovative approach based on behavioral economics and technology. Lemonade utilizes AI and chatbots to deliver policies and handle claims without brokers.
Policy Details
- Lemonade protects personal electronic equipment such as laptops and tablets up to coverage limits.
- It covers theft or damage from protected perils.
- Plans in most states protect personal property in storage up to $1000.
- Lemonade now offers earthquake insurance in some states.
Financial Information
- Lemonade receives premiums and earns net earned premiums.
- In 2020, it received $214 million in premiums with $77 million becoming net earned premiums (36%).
- Lemonade takes a 20% flat fee on premiums with no conflict of interest.
Cancellation Process
To cancel a Lemonade policy, you can:
- Log into your account online or through the app.
- Call or email the company.