Lemonade pet insurance review

In a nutshell:

Lemonade pet insurance offers competitive pricing for a basic accident and illness plan with the option to add extra coverage if needed.

• Lemonade offers a no-frills, affordable accident and illness policy.
• This policy doesn’t cover the full range of treatments that some other pet insurance policies do.
• Waiting periods and claim processing times are short, and approximately 40% of claims are approved instantly.

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Lemonade Pet Insurance

Angebot anfordern

FEATURED PARTNER

Lemonade Pet Insurance

Usually covered

Diagnostics, injury from accident, cancer, flea and heartworm prevention, allergy medicine, arthritis medicine

Annual coverage limits

$5,000 to $100,000

Reimbursement rates

70% to 90%

Deductibles (annual)

$100, $250, $500, or $750

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Lemonadeis one of the most affordable pet insurance companies, but doesn’t cover the full range of conditions and treatments that other pet insurance policies do. If you’re comfortable doing everything online or through a mobile app and don’t need extra coverage for physical therapy, behavioral issues, exam visits or dental illnesses, Lemonade may be the right choice for your budget.

Who is Lemonade pet insurance for?

Lemonade pet insurance is best for cat and dog owners who want a no-frills accident and illness policy at an affordable price. It offers a fast and easy claims process for tech-savvy pet owners who don’t want to worry about how filing claims will affect their future premiums.

Lemonade pet health insurance: Just the facts

Wondering if Lemonade pet insurance is right for your cat or dog? Here are the important facts and features to help you decide.

Lemonade pet insurance plans and coverage

Lemonade offers a comprehensive accident and illness policy for cats and dogs. If your furry friend unexpectedly gets hurt or sick, Lemonade will cover veterinary expenses like:

• Diagnostic testing.
• Emergency care.
• Surgery.
• Hospitalization.
• Prescription medication.

You can customize the base policy with optional add-on coverages, which cover vet visit fees, behavioral conditions, physical therapy, dental illnesses and end-of-life expenses for an additional cost.

Pet insurers don’t cover routine care, but Lemonade offers optional preventative care packages that cover wellness exams, bloodwork, parasite and heartworm testing and vaccines. It's Preventative+ package also covers routine dental cleanings and flea, tick and heartworm medication.

If you have a puppy or kitten, Lemonade has a preventive care add-on that covers their initial veterinary wellness exams, vaccines, microchip and spay or neuter procedure. Each plan has a dollar limit per year that Lemonade will cover.

Waiting periods and restrictions

Lemonade waiting periods vary by state and condition, but in general the following waiting periods apply:

• Two-day accident waiting period.
• Fourteen-day illness waiting period.
• Thirty-day orthopedic condition waiting period.
• Six-month cruciate ligament waiting period.

There is no waiting period for preventive care coverage, so your pet can be seen the same day you buy the policy for routine vet visits.

Lemonade won’t insure pets younger than two months old and is selective on upper age limits — your pet’s breed determines the maximum enrollment age. Pet insurance policies are also only available in 37 states and Washington, D.C.

Lemonade claims process

Lemonade Pet will reimburse you for covered veterinary costs that you pay upfront. Once you’re done at the vet, take a photo of your itemized invoice and paid receipt, then open your Lemonade app and answer a few questions to file a claim under your pet policy.

The artificial intelligence bot AI Jim will ask you some questions, then you’ll need to record a quick video explaining what happened and why your pet was seen. Once you submit the video, you upload the vet documents.

Roughly 50% of claims are handled instantly, and funds are sent to your bank account by direct deposit. If your claim isn’t handled instantly, the claims team will review the claim and complete the process.

Benefits of Lemonade pet insurance

Here’s how Lemonade stands out from its competitors.

Claims aren’t a renewal factor

Some pet insurance companies use past claims payouts as a factor in renewing your policy. If you have a high loss ratio — the amount you’ve paid into the policy compared to what the insurance company has paid in claims — some pet insurers will send a renewal offer with higher premiums and might even reduce your coverage.

But Lemonade doesn’t consider your claims history when renewing your policy. Instead, it only considers your pet’s age and increases in veterinary costs in your ZIP code when renewing your Lemonade Pet policy.

Excess premiums go to charity

One of the most notable ways Lemonade Insurance stands out is its Giveback program. Rather than give its profits to shareholders like most traditional insurance companies do, Lemonade takes a flat fee to run the company and uses the rest to pay claims. Whatever’s left over goes to the charity you chose when you signed up.

Since 2017, Lemonade has donated more than $8 million to over 100 causes.

Easy to understand

The insurance industry is full of jargon and acronyms that aren’t always easy to decipher and understand. Not only does Lemonade offer an extensive library on pet insurance, pet health, breed, behavior and costs, but it also breaks those terms down into plain English so that it’s easy to read and understand what you’re paying for.

Where Lemonade pet insurance doesn’t measure up

Here are some areas where Lemonade Pet falls short.

What Lemonade doesn’t cover

All pet insurance companies have exclusions, and Lemonade is no different, though restrictions can vary by state and policy. Here are some things a Lemonade pet insurance plan won’t cover:

• Pre-existing conditions that occur before the waiting period is over.
• Bi-lateral conditions that can affect both sides of their body, such as hip dysplasia or cataracts, that occur before the relevant waiting period.
• Preventable or intentional acts that injure your pet or make them sick, like abuse, fighting or racing them.
• Alternative therapies, including aromatherapy and CBD products.
• Experimental treatments.
• Boarding, obedience training, elective procedures and grooming.
• Prescription food

Some other pet insurance policies — those from Fetch and ASPCA, for example — cover alternative therapies and behavioral training, so if you’re looking for a more comprehensive pet insurance policy than Lemonade might not be for you.

As with any type of insurance, it's important to read your policy carefully, especially what it doesn’t cover. You don’t want to take your pet to the vet thinking you’re covered, only to find out your policy won’t help pay your vet bills.

Coverage requires a recent vet visit

When you sign up for Lemonade pet insurance, you have to submit recent medical records from your pet’s veterinarian. If your pet hasn’t been seen in the last 12 months, they must see a vet within two weeks of signing up for a policy, or you won’t have coverage.

Doesn’t cover veterinary care outside the U.S.

Many pet insurance providers will reimburse for covered veterinary care performed by any licensed vet in the United States and Canada. But Lemonade will only pay for veterinarians licensed in the United States. If you travel outside the U.S. with your pet, it’s worth considering other options.

Alternatives to Lemonade pet insurance

Frequently asked questions (FAQs)

Is Lemonade a reputable pet insurance company?

Yes. Although Lemonade does not have a Better Business Bureau (BBB) rating, it has an A financial rating with Demotech, an insurer rating company. It also has an excellent rating on Trustpilot, earning 4.4 out of 5 stars after almost 2,000 consumer reviews.

Is Lemonade a credible insurance company?

Yes. Lemonade Insurance Company has an exceptional financial stability rating from the insurance rating company Demotech. An insurer’s financial stability rating shows how well it has maintained its past financial obligations, including paying claims.

Why is Lemonade insurance so cheap?

Lemonade leverages artificial intelligence and other technology to streamline the application and claims process and reduce overhead costs. With fewer employees needed to run the company and lower overall costs, Lemonade can pass those savings on to consumers with cheaper insurance policies.

How long do Lemonade pet claims take?

Some Lemonade pet claims are automatically approved and paid within minutes. Others might need a person to complete the process, which can take a few days. Around 50% of claims are processed instantly, according to Lemonade’s website.