AI-driven digital insurance company Lemonade has expanded its home insurance services in the UK by rolling out a new buildings and contents (B&C) insurance product.
The insurance provider said it has tailored this latest product specifically for the UK audience and that it features a Defaqto five-star rating.
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UK homeowners now can purchase the cover for their properties and possessions through Lemonade’s app or website, with prices beginning at £14 ($18.22) per month.
This introductory rate applies to a policy with a £150 excess, £10,000 contents cover for a single adult in a house, and assumes no relevant claims have been made in the past five years.
According to Lemonade, its B&C insurance not only covers the essentials such as civil and property liability, rebuild costs, and temporary accommodation but also offers flexible contents coverage of up to £100,000.
Additional features of the new product include home emergency assistance for incidents such as broken boilers, broken locks, electrical failures, and burst pipes, as well as accidental damage coverage for unforeseen events affecting the home or contents.
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By GlobalDataCustomers are also protected against theft and accidental loss both inside and outside the home, with items including laptops, bikes, and phones.
Specialised legal support is also available to assist with disputes related to clinical negligence, insured property, and employment contracts.
The insurtech anticipates the launch of this new offering, alongside its existing partnership with Aviva, to strengthen its growth trajectory in the UK.
Lemonade CEO and co-founder Daniel Schreiber said: “The UK has proven to be an exciting market for us with a large digitally savvy population who appreciate an easy, personalised experience.
“Growing our home insurance offerings this quickly is a tribute to our incredible team and our thriving partnership with Aviva.”
Supervised and licensed by Dutch Central Bank (DNB), Lemonade entered the UK market in October 2022 and operates through its UK branch, authorised by the Prudential Regulation Authority.
In April, Lemonade, in collaboration with BNP Paribas Cardif, bolstered its insurance services in France by introducing a homeowners insurance offering.
