Lemonade Opens Registration For 'Lemonade Car' Insurance Bundle

Lemonade, an insurance company powered by artificial intelligence and behavioral economics, announced Tuesday that it’s readying the Lemonade Car for launch.

What Happened: Lemonade is a holistic platform for insurance.

As part of a vision to meet the needs of its consumers more efficiently, Lemonade opened early registration for Lemonade Car, which will allow customers to bundle their home, pet and life policies with their car insurance.

Why It Matters: The development comes as the car insurance industry is estimated to be about $300 billion in size, about 70 times the size of the insurance market for renters and pets.

“We’re seeing an overwhelming demand for a Lemonade car insurance product from our customers. And so, since last year, a large part of our team has been working on what we believe will become one of the best car insurance products on the market,” said Shai Wininger, Lemonade's COO and co-founder.

“Lemonade Car will use technology to handle emergencies and pay claims fast, will offer great prices to safe drivers, and will be especially attractive to drivers of EVs and environment-friendly cars.”