Lemonade vs. Coverage Cat

Lemonade is an insurance company that was founded in 2015. Their goal is to use technology to make the process of buying insurance and making claims much easier. They seek to achieve this by offering a user-friendly mobile app that allows customers to purchase and manage their insurance policies. The app also lets users file claims and chat with customer service representatives.

Since its launch, Lemonade has grown rapidly and has raised over $800 million in funding from investors and public markets. The company is now licensed to operate in multiple states in the United States and is also available in parts of Europe.

Meanwhile, Coverage Cat is an insurance broker. That is, we sell policies from multiple different carriers, with Lemonade being one of them in some states. We chose to include them in our comparisons because it's one of the top companies that folks associate with insurance startups.

While Lemonade only sells their own rate-card-bound policies, Coverage Cat can sell or recommend you insurance from a much larger number of carriers in order to find you the absolute best price and matching coverage. While this does come with some quoting slowdown, at least for now, we think the lower prices and less constrained coverage are worth the trade-off for a less slick user experience.

So, if you ever need car/auto, homeowners/renters, and umbrella insurance in CA, FL, NY, TX, and WA, but also never want to have to think about insurance again: signup for Coverage Cat.