Lemonade Insurance

CurlySue2017

Just wondering if anyone has any experience of this company?
Currently renewing my contents insurance and this company has come up by far the cheapest on the comparison site that I use, but I can find very limited info about the company, most of which seems to be American. 

dunstonh

There is no compliance footer on their webpage where you would normally see FCA details and companies house details.  But if you look at their legal page, they are based in the Netherlands and are using the Temporary Permissions Regime.  However, the FCA says they became authorised on 10/05/2023.   So, either the FCA is wrong (unlikely) or they havent updated their webpage.

Basically, they are new entrant to the UK and were founded in the US in 2015.

You are unlikely to find many policyholders with them who also post here.   And its highly unlikely that many, if any, have tested their claims process.   

For me personally, the fact they use AI Chatbots to process claims would be off-putting.   However, I put quality above price when I purchase.

DullGreyGuy

They announced their launch in the UK in October last year (https://investor.lemonade.com/news-and-events/news/news-details/2022/Lemonade-Launches-in-the-UK/) 

I'm not sure I am anywhere close to their target market so have no idea how hard they've been pushing but Home insurance traditionally has been one of the harder classes of insurance to break into and so their UK customers will be measured in thousands not millions. I slightly disagree with the above, certainly some will have made claims but finding them is going to be looking for a needle in a haystack, however there will be exceptionally few with end to end experience of major losses like subsidence or big fires simply because they haven't been trading long enough.

CurlySue2017

Thanks both for your replies.  I've done a bit more digging and they are very well reviewed - but in America - as you say, they are relatively new here.  
I'm not that concerned about any "big" claims because we rent, so are only covering contents and we don't have much anyway, just the basics really.
I may take a chance on this one and give them a try 

OnePoundNote

Hi I am interested in your current review of Lemonade Content insurance, did you take their policy and have you had good customer care whether or not you've had to claim? I am currently in a similar situation as a private renter and need a cheap but reliable content insurance to switch to. Lemonade have come top of many of the price comparison sites and I need to switch from our current provider as quickly as possible before their policy automatically renews. Thanks for any updates.

Nantaeronen

Are there any reviews of which Insurance companies perform well or badly if you move house during the term of a home and contents insurance policy?

MyRealNameToo

https://forums.moneysavingexpert.com/discussion/comment/82119299#Comment_82119299

In what sense? Premiums will change because you are in a different property in a different location, how they change are going to be very variable depending on if the new location is riskier or less risky and if the new gaff fits in their risk appetite or not… So go from living in a rural house insured with NFU to an apartment in central London and you will almost certainly see a significant increase in premiums as NFU generally dont target major urban areas.

Price will also be driven by any admin fees, obviously this gets more complex if you are dealing with an intermediary because different members on their panel may have different charges.

If you are talking about covering your goods in transit, its generally better to have your own insurance on a new for old basis than your removal firms that will be on an indemnity basis. Again you cant really go by brand alone because many providers have multiple tiers of product with cover varying depending on if you are buying the "basic" or the "Platinum" cover.