Digital insurer Lemonade has expanded availability of its renters insurance into Vermont and Maine.
They become the 43rd and 44th states where Lemonade offers renters insurance.
Lemonade lets renters use an app to obtain quotes, purchase policies, update existing policies, and file claims.
“We built Lemonade to cut through the complexity that makes traditional insurance painful. We offer simple quotes, instant claims, and rates that don’t break the bank,” said Dan Timsit, head of renters insurance at Lemonade.
Coverage starts at $5 per month. Based on company and industry data, Lemonade’s renters insurance rates are approximately 30% lower than the national average.
Customers may also be eligible for additional savings through policy bundling, having qualifying home safety devices, or choosing annual billing.
The New York-based insurer officially launched its first policies—rentals and homeowners insurance—in New York in September 2016. It was the first digital-focused insurer.
Lemonade reported a first-quarter 2026 net loss of about $35.8 million compared with a loss of about $62.4 million during the same time in 2025. However, the company said its topline growth was positive, with a 159% increase in year-to-year gross profit to about $100 million, and 32% growth of in-force premium (IFP) to about $1.3 billion. Revenue jumped 71% compared with Q1 2025 to $258 million.
A certified B-corporation, Lemonade donates a percentage of leftover premiums to nonprofits.
The warning comes as millions of Europeans endure some of the highest temperatures ever recorded in the region, with scientists identifying man-made climate change as the culprit. Researchers at World Weather Attribution estimate that June temperatures were between 5C and 12C above seasonal averages across France, Germany, Italy, Spain and southern England, as Europe heats up faster than other continents.
Insurers, bankers and financial analysts are now trying to calculate the short-to-medium-term costs of continual temperature rises. Carsten Brzeski, global head of macro at ING Group NV, said in a client note this week that heat waves represent a “new downside risk” to the region’s economic growth.
The analysis feeds into a growing awareness across Europe that homes, schools, hospitals, transport networks and other forms of infrastructure will need significant investments in order to adapt to the rapidly changing climate. Brzeski says Europe faces an accumulated economic loss equivalent to 0.8% by 2029, as tourists stay away, people become less productive and supply chains get disrupted.
Insurance is the corner of finance that’s responding fastest to such risks, according to Sarah Kapnick, JPMorgan Chase & Co.’s global head of climate advisory.
Wherever assets are exposed, prices on insurance coverage “are going up,” she said in an interview with Bloomberg Television in London. And “the stresses that we see today are only going to get worse because heat waves like this ten years from now will be over 40C and it will keep going.”
