Lemonade (NYSE: LMND) launched its renters insurance product in Delaware on May 11, expanding its digital coverage to renters across the state.

The tech-focused insurance company offers policies starting at $5 per month, with the company stating its renters insurance is approximately 30 percent less expensive than the average renters policy nationwide. Delaware residents can obtain quotes, purchase policies, and file claims through the Lemonade mobile app.

The digital platform processes nearly half of claims instantly, according to the company. Customers can customize coverage amounts and deductibles, with options for bundling policies or annual payment discounts.

"Delaware marks a significant milestone in our ongoing U.S. expansion," a Lemonade spokesperson stated. "Renters deserve insurance that is not only fast and easy to understand but also tailored to their needs."

The New York-based company serves over 3 million active customers across renters, home, pet, car, and life insurance products. Lemonade operates in the United States, United Kingdom, and Europe.

Delaware does not legally require renters insurance, though many landlords include coverage requirements in lease agreements. The insurance typically covers personal belongings, liability protection, and additional living expenses if a rental becomes uninhabitable.

With Delaware's inclusion, Lemonade continues its expansion across U.S. markets. The company operates as a certified B-Corporation and reports donating over $10 million through its Giveback program to nonprofits selected by its customer community.