I love to see technology stir things up and disrupt decades old financial services companies, and it has happened again. There is nothing less exciting then getting on the phone and making calls to shop out your homeowners or renters insurance coverage. Lemonade (no kidding that is their name) is a new app designed to make the process painless and are offering coverage starting at $5 per month for renters and $25 per month for homeowners. They are backed through reinsurance by Lloyd's Of London and operate using the  'mutual insurance' model. Unlike traditional insurance that profits by denying or delaying payouts, Lemonade operates on a flat percentage for operating costs and all remaining funds are available for policyholder claims. As a result, there is no financial incentive to deny a claim!

From Their Website -

Lemonade Insurance Company is a property and casualty insurance company that is transforming the very business model of insurance. By injecting technology and transparency into an industry that often lacks both, we’re creating an insurance experience that is fast, affordable, and hassle free. Unlike any other insurance company, we gain nothing by delaying or denying claims (we take a flat fee!), so we handle and pay as many claims instantly as possible.

Lemonade Availability By State

Lemonade has been in business for just about two years and is quickly expanding nationwide. Since they are not yet open for business in Florida I wasn't able to try out the service myself but reviews suggest that many people are experiencing big savings. I expect this app based approach to be especially popular among millennials (but I like it too!). 

Helping you make the most of God’s money!

James L. Paris 
Editor-In-Chief ChristianMoney.com 
Follow Me on Twitter Twitter.com/jameslparis
Christian Financial Advice 
Jim Paris 24 Hour Radio