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Partner Spotlight | Lemonade

Need renters insurance within your budget? Check out Lemonade — for as little as $5/month, you can protect your stuff and give back to your favorite charities.

Chime Team • June 14, 2022

Chime Partner Spotlight, Lemonade

In This Article

  1. Find Lemonade in the Chime Marketplace
  2. What is Lemonade and what do they do?
  3. What makes Lemonade different from other insurers
  4. More than just renters insurance
  5. Get renters insurance starting at $5 a month

It can’t happen to you — until it does. While we’d like to think our homes are always a cozy haven from the chaos of life, the reality is that accidents and other issues happen at home all the time. And it’s a good idea to have insurance for when they do.

That’s where Lemonade comes in. Lemonade offers affordable renters insurance to protect your stuff, no matter what happens: theft, water damage, a fire, you name it.

Lemonade even has your back if someone sues you for damages or gets injured in your home.

But you won’t have to fork over hundreds of dollars for quality renters insurance. Lemonade offers all this for as little as $5/month.

And the best part? Lemonade is a public benefit corporation (certified B-Corp). That means they’ll take a flat fee before paying claims, and the rest goes to a charity of your choice.

Find Lemonade in the Chime Marketplace

Keeping costs low and giving back to the community is something we can get behind at Chime. That’s why you can find Lemonade in the Chime Marketplace.

New to our marketplace? This member-exclusive, in-app spot is where you can go to find products — from tax software to investment apps — that help drive greater financial peace of mind.

We’ve specially selected all of the companies in the Chime Marketplace because they’re the best at what they do, and they offer affordable options to every Chimer. In the case of Lemonade, we also love that they use their platform to do some good in the world.

What is Lemonade and what do they do?

Lemonade provides insurance built for the 21st century:

  • It’s fast. You can sign up online or in the mobile app and start coverage in as little as 90 seconds. That’s right: No waiting period. Protect your stuff right away.
  • It’s easy. Lemonade is 100% digital. No phone calls, no forms, no confusion. Just file any claims in the app, and Lemonade could reimburse in minutes (or even seconds), directly into your Chime Checking Account. Lemonade makes it easy to start replacing damaged, stolen, or destroyed belongings right away.
  • It’s affordable. ValuePenguin reports that the average renter’s insurance policy goes for $12 to $37 a month (that’s $144 to $444 a year). With Lemonade, you can get covered for as little as $5 a month — just $60 a year.

So why renters insurance? Many landlords often require you to carry a renters insurance policy just to secure a lease, which makes the already skyrocketing costs of renting a house or an apartment all the more difficult to afford. Lemonade is your path to more manageable living costs.

And even if your landlord doesn’t require renters insurance, it may be a good idea to carry it. Whether it’s a house fire that burns your wardrobe, a leaky pipe that destroys your TV, or a burglar who swipes your bike from the porch, renters insurance has you covered in an emergency.

What makes Lemonade different from other insurers

Our favorite part about Lemonade isn’t their low prices (but hey, those are really nice). We partner with Lemonade because of their mission.

Lemonade is a certified B-Corp. Their mission is to “transform insurance from a necessary evil into a social good.” And they walk the walk.

As part of Lemonade Giveback, Lemonade takes a flat fee, so they can pay their employees, keep the lights on, and pay out your claims — but the rest of your premium and deductible go to a cause that you care about.

In 2021, for example, Lemonade gave more than $2.3 million to charities like the Malala Fund, American Forests, Charity: water, CURE Childhood Cancer, and more. You’ll choose from nonprofits like the ACLU, American Red Cross, The Humane Society of the United States, The Trevor Project, New Story, and Teach for America when you sign up.

More than just renters insurance

If you’ve finally saved up enough to buy that first house, Lemonade can still save you money with homeowners insurance. Lemonade specializes in renters insurance, homeowners insurance, car insurance, life insurance, and pet insurance. 

You can even get a bundle discount when you get multiple policies with Lemonade.

Get renters insurance starting at $5 a month

With their low-cost renter’s insurance, easy sign-up process, and the Lemonade Giveback program, adding Lemonade as a product for our members in the marketplace was a no-brainer.

Here’s how to find Lemonade in the marketplace:

  • Log into the Chime app
  • Scroll down to “Earn More Money & Save Money” on the home screen
  • Tap “See My Offers” and find Lemonade among our listed partners

You’ll be able to sign up for a new renters insurance policy from Lemonade for as little as $5 a month in as few as 90 seconds.

And hey, while you’re there, maybe it’s time to think about car, pet, and life insurance too.

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