Lemonade Pet Insurance Review: Smart, Fast and Affordable Coverage?

Most pet owners would spare no expense in an effort to give their pet a longer and healthier life. However, it’s also true that most pet owners don’t have an endless amount of money to spend on vet bills.  Pet insurance can help ease the financial burden of pet health care. But just like any other insurance company, it’s important to weigh your options before you pick a provider or policy. Our Lemonade Pet Insurance review can help you decide if it’s the right company for you and your pet. 

What Is Lemonade Pet Insurance?

Lemonade offers health insurance for your cat or dog. It also offers homeowners, renters, car and life insurance, but today we’ll talk about pet insurance, specifically. 

It markets itself as a tech-driven company. By “tech-driven,” we mean it’s an AI-powered, digital first insurer. Lemonade says that model speeds up claims processing and provides a low-hassle experience. 

Lemonade pet insurance is available in 41 states plus Washington, D.C. Its coverage could help with costs from new accidents, illness, and hereditary and congenital conditions. It also provides preventive packages for routine care and other add ons. 

It is important to note that Lemonade works on a reimbursement basis. That means you will pay for all vet bills up front then they will pay back what’s covered under your plan. 

What It Does Cover — and What It Doesn’t

The plans are customizable. So what it does or does not cover depends on the plan and add ons you pick. Its basic policy covers the following expenses if your cat or dog experiences an unexpected accidents or illness:

• Diagnostics: Blood tests, x-rays, MRIs, CT scans and lab work
• Procedures: Outpatient, specialty and emergency care, hospitalization and surgery
• Medication: Injections or prescription meds

The preventive package covers wellness exams, parasite and heartworm tests, bloodwork and vaccines. You’ll have to upgrade to a preventive+ package to get flea/tick and heartworm meds, and routine dental cleanings covered. There also are preventive packages that are specific to puppies and kittens. 

The add ons include coverage for: vet visit fees, physical therapy, dental illness, behavioral conditions, and end of life and remembrance. 

There are coverage limits as well. You choose an annual limit that’s somewhere between $5,000 and $100,000. 

It does not cover: preexisting conditions, preventable situations and neglect, and anything else not related to accidents or illnesses, like grooming or boarding. 

How Pocket-Friendly Is It? (Pricing Snapshot)

The cheapest possible plan starts at around $10 a month. But you’ll have to consider if this gets you everything you and your pet need. In addition to plan customizations, there are several other factors that affect your monthly cost, such as where you live, your dog’s age and its breed. Lemonade says on average dog owners pay around $48 a month with them. All the same applies for cats, except it tends to be cheaper. Cat owners pay on average $27 a month. 

As far as your deductible goes, you have a choice among $100, $250, $500 and $750. The higher your deductible, the lower your monthly premium, and vice versa. Your co-insurance options are 70%, 80% or 90%. 

We’ll use an example that Lemonade uses. If your dog needs a surgery that costs $6,000 and your co-insurance is 80% with a $250 deductible, you’d pay $1,450 out of pocket. That’s because 80% of $6,000 minus the deductible is $4,550. 

If you have more than one pet, you could get a discount on a policy with Lemonade. It offers up to a 10% discount when you have multiple pets enrolled. 

How Claims & Reimbursement Really Work

Because Lemonade operates through reimbursements, you can take your pet to any licensed vet you’d like. You just pay for the vet bill and get your money after you file a claim. Here’s how it works: 

• You pay at the vet
• Then submit a claim with receipts in the Lemonade app
• The claims team reviews it to make sure it’s covered under your policy 
• A reimbursement is issued directly to your bank account

Pros & Cons: What Users Say

For the pros: the app is available on both the App Store and Google Play. It has decent ratings for both — 4.1 for Google and 4.9 for Apple. It’s relatively affordable compared to other providers, its use of AI can speed up processes and the customizable plans appeal to more pet owners. 

However, customization could also be a con, depending on how you look at it. It can get confusing and there are more opportunities for gaps when you’re piecing together a policy. It’s also not available in every state and there are mixed reviews on customer service and experiences filing claims. Some customers have disagreed with a claim denial.  

How It Compares with Other Insurers

We curated a list of some of the best pet insurance companies so you can compare, but here’s a snapshot of how Lemonade stacks up. 

• Versus Trupanion: Trupanion offers direct vet payments, so you won’t have to pay out of pocket. It does not, however, offer coverage for wellness exams and preventive care like Lemonade does.
• Versus Spot: Lemonade and Spot both offer customizable plans. However, Spot has a waiting period of 14 before coverage kicks in for accident and illness. In most states, the waiting period is only two days for accidents with Lemonade.

Lemonade Pet Insurance Review: Is Lemonade Right for You?

Lemonade pet insurance is great for pet owners who want a customizable plan, those who prefer a digital-first experience and those who own only a cat and/or dog. It’s also better for those who have the ability to pay up front and get reimbursed later. 

It’s not as suitable for those who have pets with preexisting conditions and prefer direct vet payments. You’ll also have to check if Lemonade is available in your state, because it may not be. 

Whether or not you choose Lemonade, we know you’ll make the right decision for you and your pet.

FAQs About Lemonade Pet Insurance