Renter’s insurance (from Lemonade, Jetty, or other established insurance providers) typically covers losses to your property from damage or theft ONLY when you’re at home and DOES NOT cover Accidental Damage like a dropped phone or spilling coffee on your laptop.
Accidental Damage like Cracked Screens, Spills, and Drops are more than 12x as likely to happen than the losses that occur which Renter’s Policies will even cover…
Additionally, the deductibles on a Renter’s Policy for losses from damage like fires, floods, or a break-in are usually $250-$1,000…
That’s significantly higher than our $99 deductibles ($49 for non-phone items on the student plan) for any claim filed, whether it's for accidental damage, theft, vandalism, fire, flood, or a natural disaster.
Plus, the cost of your renter’s or homeowners insurance coverage may also increase when you file a claim…
Whereas the coverage you get when signing up with AKKO will never increase due to filing a claim!