Lemonade Car Launches in Oregon
March 29 2023 - 9:00AM
Business Wire
Oregon drivers pay less for driving less while
also supporting reforestation throughout the state’s Santiam State
Forest
Lemonade (NYSE: LMND), the digital insurance company powered by
AI and social impact, today announced the launch of Lemonade Car in
Oregon, marking the fifth state where the full suite of Lemonade
insurance products are available.
As a state known for its environment-friendly ways and
low-mileage drivers, Lemonade Car will be a welcome option for
those in Oregon looking for car insurance that aligns with their
values—and their wallet. Lemonade Car offers drivers the ability to
only pay for the miles they drive on top of a low monthly base
price, perfect for those opting for their bike commute or working
from home throughout the week. With the Lemonade app, this gives
drivers a new option for car insurance with built-in safety
features, including free crash detection and emergency services,
and access to its quick, efficient claims process. Additionally,
Lemonade Car gives back to the planet by funding reforestation
efforts throughout Oregon’s Santiam State Forest, known for its
Douglas Fir and Western Red Cedars, to help clean up the carbon
emissions of its drivers.
With Lemonade, drivers across Oregon can access its top-rated
insurance, including:
- Determining their price with their mileage each month:
Policies will be priced based on the driver’s mileage. With a low
monthly base rate plus a few cents per mile, drivers will only pay
for the miles they actually drive —perfect for low mileage
drivers.
- Benefits for environment-conscious drivers: Lemonade Car
offers ideal coverage for low mileage drivers and funds
reforestation to help clean up after customers’ carbon emissions,
over time.
- Fast claims and emergency services when needed: Lemonade
Car features a first-of-its-kind claims process that allows
customers to file claims in minutes, as well as the ability to
customize coverages, add a new car, and more through the Lemonade
app. When needed, drivers can also access tow services, emergency
EV battery recharge, and the option to track repairs, body shop
work, and more.
- Insurance backed by data: With billions of miles of data
under the hood, Lemonade Car has the expertise to provide low rates
and handle claims quickly and efficiently.
- Discounts for bundling: New and existing customers in
Oregon can receive discounts when bundling with other Lemonade
products - Renters, Homeowners, Pet, and Life - to save up to
hundreds of dollars a year.
Lemonade created a guide for drivers to help navigate the
nuances of car insurance in the state of Oregon. Whether it’s a
breakdown of what’s required or extra coverage that might be good
to have, drivers can find it all in Lemonade’s Oregon car insurance
guide.
About Lemonade
Lemonade offers renters, homeowners, car, pet, and life
insurance. Powered by artificial intelligence and social impact,
Lemonade’s full stack insurance carriers in the US and the EU
replace brokers and bureaucracy with bots and machine learning,
aiming for zero paperwork and instant everything. A Certified
B-Corp, Lemonade gives unused premiums to nonprofits selected by
its community, during its annual Giveback. Lemonade is currently
available in the United States, Germany, the Netherlands, France,
and the UK, and continues to expand globally.
Follow @lemonade_inc on Twitter for updates.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements contained in this press release that do not
relate to matters of historical fact should be considered
forward-looking statements, including, but not limited to,
statements regarding any cost savings, discounts, rates, and carbon
emissions cleanup. These statements are neither promises nor
guarantees, but involve known and unknown risks, uncertainties and
other important factors that may cause our actual results,
performance, product offerings, pricing or achievements to be
materially different from any future results, performance, product
offerings, pricing or achievements expressed or implied by the
forward-looking statements, including, but not limited to, the
following: Our history of losses and the fact that we may not
achieve or maintain profitability in the future; our ability to
retain and expand our customer base; the fact that the “Lemonade”
brand may not become as widely known as incumbents’ brands or the
brand may become tarnished; the denial of claims or our failure to
accurately and timely pay claims; our ability to attain greater
value from each user; the novelty of our business model and its
unpredictable efficacy and susceptibility to unintended
consequences; the possibility that we could be forced to modify or
eliminate our Giveback, which could undermine our business model;
the examinations and other targeted investigations by our primary
and other state insurance regulators that could result in adverse
examination findings and necessitate remedial actions; our limited
operating history; our ability to manage our growth effectively;
the impact of intense competition in the segments of the insurance
industry in which we operate on our ability to attain or increase
profitability; the unavailability of reinsurance at current levels
and prices, which could limit our ability to write new business;
our ability to renew reinsurance contracts on comparable duration
and terms to those currently in effect; our exposure to
counterparty risks as a result of reinsurance; the loss of personal
customer information, damage to our reputation and brand, or harm
to our business and operating results as a result of security
incidents or real or perceived errors, failures or bugs in our
systems, website or app; our actual or perceived failure to protect
customer information and other data, respect customers’ privacy, or
comply with data privacy and security laws and regulations; our
ability to comply with extensive insurance industry regulations and
the need to incur additional costs or devote additional resources
to comply with changes to existing regulations; our exposure to
additional regulatory requirements specific to other vertical
markets that we enter or have entered, including auto, pet and life
insurance, and the need to devote additional resources to comply
with these regulations; the ability of Lemonade to successfully
complete the integration of Metromile’s operations, product lines
and technology; the ability of Lemonade to continue to implement
its plans, forecasts and other expectations with respect to
Metromile’s business and realize additional opportunities for
growth and innovation; the ability of Lemonade to realize the
anticipated synergies from the transaction in the anticipated
amounts or within the anticipated timeframes or costs expectations
or at all; the ability to maintain relationships with Lemonade’s
and Metromile’s respective employees, customers, other business
partners and governmental authorities; and the other risks,
uncertainties and important factors contained and identified; and
our inability to predict the lasting impacts of COVID-19 to our
business in particular, and the global economy generally. These and
other important factors are discussed under the caption “Risk
Factors” in our Form 10-K filed with the SEC on March 3, 2023, and
in our other and subsequent filings with the SEC, could cause
actual results to differ materially from those indicated by the
forward-looking statements made in this press release. Any such
forward-looking statements represent management’s beliefs as of the
date of this press release. While we may elect to update such
forward-looking statements at some point in the future, we disclaim
any obligation to do so, even if subsequent events cause our views
to change.
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Natalie Gerke natalie.gerke@lemonade.com
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