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I’m looking into getting renters insurance, and Lemonade keeps popping up with really low prices. Their app and sign-up process look super easy, which makes me a bit suspicious. Has anyone actually filed a claim with them? What was your experience like? Did they pay out quickly, or did you run into problems? I’d love to hear the good, the bad, and the ugly before I decide if their low cost is worth the risk.
I had a break-in and lost valuables worth $2000. I filed a police report, used the Lemonade app to record a video and answer questions, and uploaded receipts. My claim was approved immediately, and I received the funds the next business day. This quick and easy process made me think Lemonade was awesome.
I cancelled my Lemonade policy after I found out there was limited coverage for each item and that my electronics had limited coverage. It’s important to read the fine print because the coverage might seem good initially, but the specific limits could be deceiving.
I paid for Lemonade for almost seven years and never filed a claim until plumbers had to repipe my house, leaving me without water for four days. Lemonade said they don’t cover it. This was the worst insurance experience I’ve had in almost 30 years of paying premiums, making me feel like it was a scam.
My apartment complex in Dallas, TX, doesn’t even let us use Lemonade. They didn’t specify why, but it makes me wonder if there are underlying issues they’re aware of. It suggests that some property managers might have concerns about their policies or payouts.
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