Lemonade rental insurance is getting cheaper and easier to buy on Crypto Coins.
The company announced a new feature that allows renters to automatically purchase coverage for their vehicles.
“With the introduction of Lemonade Rentals, renters can automatically buy insurance for their Lemonade Rental Vehicles and vehicles on their credit cards,” the company said in a blog post.
The new Lemonade policy offers coverage for vehicles with a maximum of three passengers, up to $7,500 in value and up to a maximum annual cost of $2,500.
“This means that renters with a car that has three occupants will have access to coverage for up to five vehicles in a year, which is more than enough to cover a $1,500-per-year car,” the Lemonade blog post explained.
Lemonade is available for purchase on Crypto coins for $2.49.
The new feature allows renters in the US to choose between the following coverage levels: $7.50/vehicle, $7/vehicles, $10/vehies, $20/vehics and $30/vehicings.
The company said renters can also opt to have Lemonade offer their vehicles up to two years at $10,000 in value.
“This coverage includes up to four years of auto coverage, with the potential to renew the coverage for an additional $100,000,” the blog post read.
The Lemonade service is available on two different tiers: $5/month, which includes unlimited use of the service, and $10.50 a month, which allows renters with up to three vehicles to use the service for up and three years.
The insurance company also announced it is introducing a new product called the Lemonaid service that will allow renters to opt to receive a percentage of their Lemonad lease payment.
Lemonaid provides renters with “up to 15% of the total lease payments to cover their car expenses.”
This can include leasing a car for up a year or leasing a vehicle for three years or longer.
“In addition to coverage, renters are able to opt for additional benefits, including free parking for a limited time, monthly insurance and complimentary parking for up 24 hours after purchase,” the policy read.
In addition, the company also said it is adding a Lemonade for Rentals option to the Lemonad rental platform.
Users can opt to pay a monthly fee to receive free parking or to receive up to 20% of their lease payment for a specific period of time.
The policy also provides renters the ability to set a maximum amount they will pay for the LemonAD rental, which can be in the $100 range.
“Lemonad also offers a separate monthly rental insurance policy, which covers up to an additional 2% of your lease payment in the event of an emergency,” the platform explained.