Lemonade submitted a rate and rule filing in Tennessee on March 6, 2026, proposing changes to its homeowners insurance program. The filing seeks a 10% overall rate increase for HO-3 policies, below the company’s actuarially indicated need of 15.8%.

The program currently covers 2,088 policyholders and about $4.63 million in written premium in the state. If approved, the change would increase written premium by about $463,388.

The proposed rates would take effect July 14, 2026 for new business and August 21, 2026 for renewals.

Lemonade last revised its Tennessee homeowners rates on April 8, 2025, when an overall 20.2% rate change was implemented.

As part of the filing, the company is replacing the Tennessee Homeowners Manual and updating rating components including base loss costs, loss cost multipliers, and tier rating factors used to determine premiums.

ERRRA: In a separate filing submitted in February 2025, Lemonade reported 27,488 policyholders across HO-3 (homeowners), HO-4 (renters), and HO-6 (condo) policies totaling $8,283,471 in premium. The current filing therefore covers only a small portion of Lemonade’s homeowners book in Tennessee, focusing on HO-3 policies with 2,088 policyholders and about $4.6 million in premium, suggesting the majority of the company’s footprint in the state may be concentrated in renters and condo coverage rather than traditional homeowners.