Lemonade expands renters insurance to Maine starting at $5/month

Lemonade (NYSE: LMND) announced the availability of its renters insurance product in Maine, expanding the company's geographic footprint within the United States.

Coverage starts at $5 per month. According to company and industry data cited in a press release, Lemonade's renters insurance rates are approximately 30% lower than the national average. Additional savings may be available through policy bundling, qualifying home safety devices, or annual billing.

The company said about 40% of claims are handled instantly through its app, which also allows customers to get quotes, purchase policies, and update existing coverage.

"Renters in Maine deserve the same easy insurance experience as everyone else," said Dan Timsit, Head of Renters Insurance at Lemonade. "We built Lemonade to cut through the complexity that makes traditional insurance painful."

Lemonade currently serves more than 3 million active customers across the U.S., U.K., and Europe.

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