Let’s face it: Moving is stressful—and expenses add up fast. From truck rentals to security deposits, it’s important to stay on top of your budget and cut out the excess, so it might be tempting to skip out on renters insurance to save a few bucks.
Let’s run through 4 reasons why renters insurance is worth it, especially when you’re moving on a budget.
1. Real-life losses—more common than you think
You plan for the obvious moving costs. But what about the surprises?
According to Lemonade’s 2024 Moving Insights Report, 4 in 5 Americans blew past their moving budgets—overspending by an average of $1,057. That means even the best-laid plans are vulnerable to unexpected costs.
And those surprises don’t just hit your wallet. Over a quarter of Americans (26%) said the most stressful part of moving was simply the “overall chaos.” In fact, 42% of movers took more than three months to recover financially, and nearly half (47%) said they’d be willing to overpay if it guaranteed a disaster-free move. That’s how common—and costly—moving mishaps can be.
From flooded apartments to break-ins, moving season is prime time for “did that seriously just happen?” moments.
- On moving day, someone steals a box of expensive clothing right out of your car
- A leaky ceiling soaks your new furniture
- Your TV or laptop gets “mysteriously” dropped (we see you, helpful roommate)
And yet—only about 59% of renters in the U.S. have renters insurance, meaning nearly half go through a move without any protection for their belongings (Investopedia).
Without renters insurance, it’s all on you. With Lemonade, you’re covered for theft, water damage, fire, and more—even while you’re moving—-as long as you have your policy in effect at the time of loss.
2. Coverage probably costs way less than you anticipate
Real talk: Lemonade renters insurance starts at just $5/month. That’s less than your emergency matcha latte with oat milk on moving day—and it can cover your stuff anywhere in the U.S—or while you’re traveling abroad.
3. Covers more than you think
Renters insurance isn’t just for major disasters. It’s full of perks for everyday mishaps, unexpected events, and surprising losses. It covers more than your couch and laptop—think hotel stays, dog-walking accidents, or even a missing backpack at the gym.
| What’s covered? | What It Does For You | Example |
|---|---|---|
| Personal Property | Replaces your stolen or damaged stuff, even outside your home. | Someone swipes your laptop from a coffee shop; your closet floods and ruins all your clothes; moving day mishap? Covered. |
| Loss of Use | Pays for hotel and living costs if your place is unlivable. | A pipe bursts and your apartment is out of commission—you land in a hotel, on Lemonade’s tab. |
| Personal Liability | Protects you (and your wallet) if you accidentally damage someone else’s property or someone gets hurt at your place. | Your pal slips on your kitchen floor and needs stitches |
| Medical Payments to Others | Helps cover guests’ medical bills, no matter who’s at fault. | Your friend twists their ankle at your place—Lemonade steps in to cover those urgent care bills. |
So whether you’re safeguarding your gear, covering surprise hotel stays, or looking out for your friends (and yourself!) when things go sideways, Lemonade’s renters insurance has you covered way beyond the basics.
4. Instant quotes, zero hassle
With Lemonade, getting covered is refreshingly simple. Grab a quote in 90 seconds—no paperwork, no calls—just answer a few quick questions in the app and you’re covered.
Need to adjust your coverage because your landlord asks you to, or realize your stuff is worth way more than you thought? Head to the app to instantly update your coverage using Lemonade’s Live Policy feature.
Something go wrong? File a claim through the app and get paid fast—30% of claims are approved in just 3 seconds!
Lemonade: big coverage, small price tag
You’ve worked hard for your stuff—don’t risk it all just to save a few bucks. Lemonade’s renters insurance is affordable, easy to use, and ready to move with you.
Get covered for as little as $5/month, and move forward with peace of mind.
Moving is full of surprises. Make sure they’re the good kind, with Lemonade renters insurance.
A few quick words, because we <3 our lawyers: This post is general in nature, and any statement in it doesn’t alter the terms, conditions, exclusions, or limitations of policies issued by Lemonade, which differ according to your state of residence. You’re encouraged to discuss your specific circumstances with your own professional advisors. The purpose of this post is merely to provide you with info and insights you can use to make such discussions more productive! Naturally, all comments by, or references to, third parties represent their own views, and Lemonade assumes no responsibility for them. Coverage and discounts may not be available in all states.
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