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Comment by arjie | Hacker News Reader

This pricing is way better than other insurers but I just signed up for Lemonade. How do I know you can pay out?

Also, the fact that you can give me a quote without an email address is amazing. I’ll sign up but it’ll be a year before you see anything because I just got Lemonade.

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Yeah there's a misconception that since insurance is an "annual contract" you are locked in for a year. Truth is the law protects the consumer - it's your right to cancel any time and your new provider can help you do it. If you prepaid the other guys they have to refund you. Of course some insurers make you fax them cancellation requests and stuff but we make it our job to sort that out for you and copy you along the way.

Thanks we worked hard on the pricing! We can pay because 1) regulation demands that we do, aka it's the law. 2) we have capital partners with billions of dollars in claims paying capital.

Also we can cancel your lemonade policy on your behalf, and you'll get a pro-rated refund! The same applies to us if you cancel, too.

I hadn't heard of Lemonade and it is 30% of the price of State Farm for the same coverage levels, and is way more transparent for electronics and cameras. Thank you for mentioning.

I have State Farm and found Lemonade renter’s insurance to be more expensive for the same coverage levels. YMMV.

I could not convince State Farm that I did not need coverage for "Furs and Jewelry" and had to pay regardless. A company that understands it's not 1950 and I'd rather have Macbook Pro and Ski coverage would be refreshing.

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