Lemonade Pet Insurance Review

About Lemonade Insurance Company

Lemonade Inc. is an insurance company that offers renters, homeowners, car, term life and pet insurance policies in the United States and parts of Europe. The certified B-Corp company is based in New York, and in addition to providing comprehensive insurance plans, their mission is to be a force for good.

With their expansion into pet insurance, Lemonade provides nose-to-tail coverage for cats and dogs via affordable, comprehensive plans and a unique set of optional coverage add-ons for you to customize to your needs and budget.

Lemonade Pet Insurance Pros:

• Very affordable base plans for dogs and cats starting at $10 per month*
• A variety of add-on coverage options as well as preventative care plans
• Low deductibles starting at $100
• Multi-pet, bundle and annual discounts available
• Among the shortest wait periods: Accident coverage begins on day two of your policy; illness coverage starts after 14 days; cruciate ligament coverage after six months
• App and online portal for easy claims processing; half of claims handled instantly
• Cancel your coverage anytime

Lemonade Pet Insurance Cons:

• Vet visit fees not included in base plan, but available as an add-on
• Dental illnesses not covered in base plan, but available as an add-on
• At the time of this article, plans are only available in 37 states

*These amounts reflect the options at the time of this review and are subject to change.

Lemonade Pet Insurance Coverage, Plans & Pricing

Lemonade’s pet insurance plans are set up in a user-friendly—and budget-friendly—format. They offer an affordable base plan that covers diagnostics, procedures and medications for accidents and illnesses, and a variety of add-ons that allow you to customize coverage for your furry friend.

Lemonade Pet Insurance Coverage & Restrictions

Like all other pet insurance companies, there are certain things that are and aren’t covered under Lemonade pet insurance plans. It’s important to consider both when determining the best insurance plan for your pet.

For accidents (like cuts, breaks and sprains), illnesses (like infections, vomiting and diarrhea), repeating or chronic conditions (like cancer, heart disease, diabetes, allergies, arthritis and skin conditions) and congenital or hereditary conditions (like elbow and hip dysplasia, hernias, blood disorders and eye disorders), the following is covered under Lemonade Pet Insurance:

• Diagnostics (Blood tests, urinalysis, X-rays, MRIs, lab work, CT scans and ultrasounds)
• Procedures (Outpatient, specialty and emergency care, hospitalization and surgery)
• Medications (Injections and prescription medications)
• Curable, pre-existing conditions (Can also be covered for certain accidents and illnesses if no symptoms have been present for 12 months)

And here are some of the things that are not covered under Lemonade Pet Insurance:

• Pre-existing conditions
• Vet visit fees (unless added on)
• Dental illness (unless caused by an accident; then extraction and reconstruction is covered)
• Routine dental cleaning (unless a preventative plan is added)
• Spaying or neutering (although these could be covered under a preventative plan)
• Microchipping (although this could be covered under a preventative plan)
• Events that happen during the waiting period 
• Preventable situations and neglect 
• Elective procedures, grooming, nail trims, anal gland expression, breeding or pregnancy and boarding expenses
• Alternative and holistic therapies
• Funeral and burial expenses

Lemonade has an extensive sample policy online, where you can find policy terms, inclusions, exclusions and more in plain, user-friendly language. We found it to be among the best sample policies we’ve come across, and really appreciate the company’s transparency and up-front, easy-to-understand language.

Optional Features & Inclusions

Lemonade has some of the most robust options on the market when it comes to plan add-ons, which is great because it means you’re not stuck paying for plan features that your pet doesn’t need, and you can customize the base plan to get the exact coverage you’re looking for. Here are some of the add-ons that Lemonade offers:*

• Vet visit fees: Covers the fees charged by your vet for accident or illness related visits—Additional $3.33/month (up to base policy limit of $20,000)
• Physical therapy: Covers physical treatments like acupuncture, chiropractic care and more related to covered accidents and illnesses—Additional $1.08/month (up to base policy limit of $20,000)
• Behavioral conditions: Covers diagnostics, therapy sessions and prescription meds to treat new behavioral conditions—Additional $3.50/month (up to $1,000)
• Dental illness: Covers treatments for dental illnesses such as gum disease or stomatitis—Additional $12.91/month (up to $1,000)
• End of life and remembrance: Covers euthanasia, cremation and memorial items; Not subject to a policy’s co-insurance—Additional $3.75/month (up to $500)
  

Lemonade also offers preventative care packages to cover wellness exams, preventative medications, vaccines and more. Here’s how they work:

Option 1: Preventative Care—$16/month*

Covers:

• One wellness exam
• One fecal or internal parasite test
• Three vaccines
• One heartworm or FeLV/FIV test
• One blood test 

Option 2: Preventative+ Care—$24.33/month*

Covers:

• One wellness exam
• One fecal or internal parasite test
• Three vaccines
• One heartworm or FeLV/FIV test
• One blood test 
• Routine dental cleaning
• Flea/tick or heartworm medication
  

Option 3: Puppy/Kitten Preventative Care package

Covers:

• Two wellness exams
• Two fecal or internal parasite tests
• One bloodwork
• Six vaccines
• One Heartworm or FeLV/FIV Test
• Flea/Tick or Heartworm Medication
• Spay/Neuter Procedure
• Microchip

*These amounts reflect the options at the time of this review and are subject to change.

Lemonade Pet Insurance Waiting Period

For the most part, Lemonade has a standard waiting period before their pet insurance plans kick in, with 14 days for illness and six months for cruciate ligaments. Where they stand out, however, is with an impressive two-day waiting period on accidents, meaning that coverage for life’s unforeseen events kicks in almost immediately after signing up.

Lemonade Pet Insurance Cost

Next, we’ll take a look at the pricing for Lemonade Pet Insurance. A few different factors determine your specific price quote, including pet type, breed, age and where you live.

Lemonade is set up like most other pet insurance companies in that they have flexible options for annual reimbursement limit, annual deductible amount and reimbursement percentage, which is great because this allows you to customize these elements to make the plan fit your pet’s needs as well as your budget. 

We know that’s a lot of info to take in, so let’s dive in a little deeper to each of those elements:

• Annual reimbursement limit:
  • The maximum dollar amount you can be paid back per policy year
  • Choose from: $5,000, $10,000, $20,000,$50,000 and $100,000*
  • The higher your annual reimbursement limit, the more you’ll pay per month
• Annual deductible amount:
  • The fixed dollar amount you’re responsible for paying before your insurance kicks in
  • Choose from: $100, $250 or $500*
  • The lower your deductible, the more you’ll pay per month
• Reimbursement percentage:
  • The percentage of each covered vet bill you’ll be paid back after you meet your deductible
  • Choose from: 70, 80 or 90 percent*
  • The higher your reimbursement rate, the more you’ll pay per month

Using Lemonade’s online quote generator, we gathered a few sample price quotes to demonstrate how the different coverage options can impact your monthly payment. Here’s what we were quoted for a three-year-old mixed-breed male dog (20 to 55 pounds) in Atlanta*:

• For a plan with a $5,000 annual reimbursement limit, $500 annual deductible and 70 percent reimbursement rate, the monthly premium would be $11.00.
• For a plan with a $10,000 annual reimbursement limit, $250 annual deductible and 80 percent reimbursement rate, the monthly premium would be $17.33.
• For a plan with a $20,000 annual reimbursement limit, $250 annual deductible and 80 percent reimbursement rate, the monthly premium would be $17.67.
• For a plan with a $50,000 annual reimbursement limit, $100 annual deductible and 90 percent reimbursement rate, the monthly premium would be $25.33.

When it comes to feline friends, Lemonade follows suit with other pet insurance providers by providing the same coverage as a dog insurance plan, for a smaller monthly premium. This is because cats typically require fewer vet visits in their lifetime than pups do. Here are our sample quotes for a three-year-old mixed-breed male cat in Atlanta*:

• For a plan with a $5,000 annual reimbursement limit, $500 annual deductible and 70 percent reimbursement rate, the monthly premium would be $11.00.
• For a plan with a $10,000 annual reimbursement limit, $250 annual deductible and 80 percent reimbursement rate, the monthly premium would be $11.67.
• For a plan with a $20,000 annual reimbursement limit, $250 annual deductible and 80 percent reimbursement rate, the monthly premium would be $11.83.
• For a plan with a $50,000 annual reimbursement limit, $100 annual deductible and 90 percent reimbursement rate, the monthly premium would be $16.83.

*These amounts reflect the options at the time of this review and are subject to change.

Lemonade Dog Insurance vs Lemonade Cat Insurance

As outlined above, Lemonade’s cat insurance plans are considerably less money than their dog insurance plans, for the same amount of coverage. The other differences between Lemonade dog insurance and Lemonade cat insurance is that while the add-on options are the same, some may be less expensive for cats than dogs. Their preventative care plans are also less expensive for cats, while providing the same great coverage.

Lemonade Pet Insurance Discounts

Lemonade offers a few different discounts that can help make their pet insurance even more affordable:

• Up to 10 percent bundle discount when you add on extra coverages
• Up to five percent multi-pet discount when you add on other pets
• Up to five percent discount for paying annually instead of monthly (not available in California)

Lemonade Insurance Competitors: How Do They Stack Up?

Now that you know what Lemonade Pet Insurance has to offer, let’s see how their coverage and pricing compares to other popular brands on the market.

Pumpkin vs Lemonade Pet Insurance

Like Lemonade, Pumpkin is a well-known pet insurance provider with a great reputation. Here’s where the two companies differ in their plan structure:

• Pumpkin has a set 90 percent reimbursement rate. While this is an excellent rate, it also means their plan prices are much higher.
• For the same quotes, Pumpkins plans range from about $45 to $105, where Lemonade comes in at $11 to $25.*
• Pumpkin’s rates include things like dental illness, which is only available as an add-on with Lemonade.
• Both companies offer preventative care plans, but only Lemonade offers more flexible add-on options to truly customize your plan coverage.

Lemonade Pet Insurance vs Healthy Paws

Healthy Paws is another top-rated provider for dog and cat insurance. Here are some of the main differences to consider when shopping for pet insurance:

• Both Lemonade and Healthy Paws have the same options for low deductibles and the same reimbursement percentages.
• Healthy Paws’ annual reimbursement rate is unlimited for every plan. While this is excellent coverage, it also means their plans are priced a lot higher than Lemonade. 
• For the same quotes, Healthy Paws’ plans range from about $32 to $67, where Lemonade comes in at $11 to $25.*

• Healthy Paws’ plans do not include vet visit fees, and unlike Lemonade, they do not offer an add-on coverage option for them.

Lemonade Pet Insurance vs Trupanion

If you’re shopping for pet insurance you’ve probably heard of Trupanion and Lemonade. They’re both trusted pet insurance providers with excellent customer reviews. Here’s what you should know in order to make a smart decision for your pet:

• Trupanion has a set 90 percent reimbursement rate. While this provides excellent coverage for your pet, it also means their plan prices are much higher than Lemonade’s.
• For the same quotes, Trupanion’s plans range from about $43 to $126, where Lemonade comes in at $11 to $25.*
• Trupanion has a couple of add-on coverage options, but their offerings are not as expansive as Lemonade’s and do not include preventative care.
• Unlike Lemonade, Trupanion does not offer an option to cover your pet’s exam fees, even for covered accidents and illnesses.

*These amounts reflect the options at the time of this review and are subject to change.

Our Verdict

Lemonade is an excellent choice for affordable pet insurance. We love the flexibility that their add-on coverage offers, as it allows each customer to build the right plan for their pet’s needs (and not fork out money for coverage you won’t use!). Their website is easy to navigate, and includes up-front info on all of their plan options, including a comprehensive sample policy, in clear, easy-to-understand language. When it comes to choosing a pet insurance plan, we highly recommend adding Lemonade to your shortlist.