Lemonade is our top pick for the best digital insurance company. Written by Janet Hunt and last updated on November 18, 2022. Reviewed by Michael J. Boyle. Fact checked by Madeline Simpson.
We recommend the best products through an independent review process, and advertisers have no influence over our selections. If you visit one of our recommended partners, we may be compensated. For more details, see our advertiser disclosure.
Insurance customers want products that are connected to the Internet, their preferred method of communicating and receiving information, in the connected world of today. In addition, a lot of insurers are now offering new digital technologies to cater to the requirements of today’s customers. There are, therefore, a few businesses that, via an app or website, can assist you in enrolling for health, life, auto, or home insurance. The best digital insurance options available right now are listed here.
Best for Home Insurance: Expand the Best Digital Insurance Companies of 2023 Lemonade Is the Best Digital Auto Insurance Provider: The Best Auto Insurance for Low-Mileage Vehicles: The Best Metromile for Safe Drivers: Wellness incentives for the best health insurance policy:
Oscar Health Insurance Best for Life: Best Digital Insurance Companies Lemonade Insurify Metromile Root Oscar Health Ladder Insurance See More (3)Frequently Asked Questions What Is Digital Insurance?
What is the cost of digital insurance?
Is the price of digital insurance justified?
Methodology Lemonade is a digital insurer that was established in 2015 and provides homeowners, condo, and renters insurance to residents of over 30 states. Insurance can be purchased online by customers without the use of an agent. Lemonade Insurance is not your typical insurer. The remainder of your premium is used to pay claims, while the company keeps a set amount to cover operating costs. You can give a nonprofit of your choice any unclaimed premium.
The chatbots that the company uses to handle claims and sell insurance policies are artificial intelligence. Policyholder claims are handled by the app “A.I. Jim.” While you are filing a claim, the app reviews and processes it, compares it to the policy, and either approves or denies it. In most cases, policies can be purchased and claims paid within a few minutes. The insurance rating organization Demotech has given Lemonade an “A” for financial strength.1 Some basic policy options are as follows:
Replacement value of personal property: $10K-$250K Deductibles: $250-$2,500 Medical payments: $1K-$5K Personal liability: $100K-$500K Loss of use: $4.5K-$200K
Best digital insurer for auto insurance quotes Insurify Insurify GET A QUOTE The digital insurer Insurify uses artificial intelligence to provide you with real, accurate auto insurance quotes by simply putting in your zip code and responding to questions about who you are and how you use your car. Other items of interest include jewelry, fine art, electronics, cameras, musical instruments, and bicycles.
Through partnerships with more than 200 auto insurance partner companies, Insurify provides quotes for auto insurance. Among these top-rated insurers are Esurance, Farmers, AIG, Progressive, Safeco, Liberty Mutual, Nationwide, and others2. The company also has its own software called RateRank, which matches drivers with the best auto insurance options based on the user’s particular risk profile. The software shows you the best auto insurance options. Users in all fifty states can use Insurify.
