Lemonade Expands Home Insurance Offering in UK

Lemonade, the New York-based insurtech, announced the launch of buildings and contents insurance in the United Kingdom in partnership with insurer Aviva.

Expanding the company’s home insurance offerings in the UK, homeowners can now purchase extensive coverage for their home and belongings.

Since launching in the UK in October 2022, the UK has quickly become one of Lemonade’s fastest growing markets. The launch of buildings and contents insurance, with the ongoing partnership of Aviva, will bolster Lemonade’s continued growth.

“The UK has proven to be an exciting market for us with a large digitally-savvy population who appreciate an easy, personalized experience,” said Daniel Schreiber, Lemonade CEO and co-founder, in a statement. “Growing our home insurance offerings this quickly is a tribute to our incredible team and our thriving partnership with Aviva.”

Designed specifically for UK customers, homeowners can get instantly covered through the Lemonade app or online starting from £14 ($18.16) a month.

In addition to base coverage (rebuild costs, temporary accommodation, civil and property liability) and flexible contents coverage up to £100,000 ($129,730), Lemonade’s buildings & contents insurance also provides a suite of add-ons to provide full-scope coverage and flexibility, including:

• Home emergency: Emergency assistance provided in case of events such as a broken boiler, burst pipes, broken locks or electrical failures.
• Accidental damage: Coverage provided for unexpected accidental events that damage your content or home.
• Theft and loss: Theft and accidental loss in and outside your home is covered; bikes, laptops, and phones are included.
• Legal protection: Specialized legal assistance provided in handling disputes about the insured home, clinical negligence, and contracts of employment.

“We’re excited to expand our partnership with Lemonade in the UK, building on our first product launch in 2022,” said Jon Marsh, managing director Partnerships and Transformation, Personal Insurance, at Aviva. “Aviva and Lemonade share common values and by working together we can create compelling new propositions and experiences for customers.”

Residents of the UK can now buy a new policy through the Lemonade app, lemonade.com/uk.

Lemonade is licensed and supervised by the Dutch Central Bank (DNB). Lemonade operates in the UK through its UK branch establishment, authorized by the Prudential Regulation Authority. Subject to regulation by the UK Financial Conduct Authority and limited regulation by the PRA.

About Lemonade

Lemonade offers renters, homeowners, car, pet, and life insurance. Powered by artificial intelligence, “Lemonade’s full stack insurance carriers in the US and the EU replace brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and instant everything,” the company said. Lemonade is currently available in the United States, Germany, the Netherlands, France, and the UK, and continues to expand globally.

Source: Lemonade

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