Lemonade Inc. (NYSE: LMND) launched its renters insurance product in Louisiana, expanding the company's digital insurance offerings to another state. The tech-focused insurance company announced the expansion on May 12, 2026.

The renters insurance coverage starts at $5 per month and is available entirely through Lemonade's mobile application. Louisiana residents can obtain quotes, purchase policies, update coverage, and file claims through the digital platform. The company processes nearly 40 percent of claims instantly.

According to the company, its renters insurance costs approximately 30 percent less than the average renters insurance policy in the United States. Policyholders can customize coverage based on their budget and needs, with options for discounts through bundling products, using home safety devices, or selecting annual billing.

Lemonade serves more than 3 million customers across the United States, United Kingdom, and Europe. The company offers insurance products including renters, home, pet, car, and life insurance. Louisiana joins the company's coverage map as it continues expanding its services across most U.S. states.

The insurance company operates as a Certified B-Corporation and runs a Giveback program that has donated over $10 million to nonprofit organizations. Lemonade employs more than 1,200 people and focuses on artificial intelligence-powered insurance services.

Louisiana law does not mandate renters insurance, though many landlords require proof of coverage before lease agreements. The state's renters insurance typically ranges between $10 and $20 per month, according to the company's market data.