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In a world of instant — instant delivery, instant dating matches, instant messages — insurance companies can feel decidedly outdated as you wait to get a policy or a payout.

When you need to get covered or get reimbursed on a claim now, there’s nothing more frustrating than having to wait to get something in the mail.

That’s why Lemonade built an app-controlled insurance company for renters and homeowners to get low-cost coverage in seconds. Literally, seconds — Lemonade makes it possible for customers to get approved for a policy in 90 seconds. And they don’t wait around to pay either, stating that it only takes three minutes for payouts.

While their speed is something to be impressed by, their cost is what reviewers like Rebecca Magee are really loving: “Signed up last night for renters insurance from #bcorp Lemonade. If you don’t have renters insurance, get on that now! Also $5/month.” Homeowners can opt into policies for as low as $25 a month.

Lemonade has attracted customers who are disillusioned by traditional insurance companies. That’s because Lemonade isn’t trying to reduce every payout to increase its own profit. They take a flat fee from their premiums and donate any excess unclaimed funds (which customers can help direct). This prevents the tug of war that renters and homeowners often feel they’re in with insurance companies when they make a claim.

With everything at customers’ fingertips through the app, they can feel in control. Whether they need to file a claim, check their liability coverage for an injury on their property, or vote on the nonprofit they want that unclaimed money to go to, it’s all right there. 

Curious about Lemonade?  Check your price today and get insured in just 90 seconds.

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