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Lemonade offers customizable accident and illness insurance policies for dogs and cats, along with add-on preventative care coverage. The company can offer extremely low premiums and resolve claims in seconds by using an AI-powered chatbot to build policies and manage payment questions.
- PROS & CONS
- KEY TAKEAWAYS
Very low premiums
Plain language policy documents
Mobile app interface
Policy bundling discount
Limited wellness coverage
Coverage not available for older pets
Not available in all 50 states
- Lemonade uses AI-powered technology to offer some of the lowest pet insurance rates and fastest claims service in the industry.
- A paid add-on rider adds limited coverage for routine preventative care.
- All claims and services are handled quickly and easily through an intuitive mobile app.
- Year Founded 2015
- Deductible $100 to $500
- Types of Services Available Accident and illness insurance
- Additional Features Wellness rider
- Official Website www.lemonade.com/pet
Lemonade offers affordable pet insurance for dogs and cats using chatbot technology that can quickly build policies and handle most simple claims. The company also keeps a flat percentage of customer premiums, setting aside the remainder to pay claims and give back to charitable causes. This low-risk business model ensures Lemonade’s profitability and lets it offer some of the lowest rates we’ve seen so far.
We review Lemonade’s coverage details and exclusions, add-on services, pricing, rates, customer service, ratings, and more to help you decide if its plans are right for you.
Company Overview: The Future of Fast and Affordable Insurance
Lemonade was founded in 2015 to provide affordable renters and homeowners insurance by using artificial intelligence (AI) to replace brokers and agents and resolve claims quickly. It also employs a smart, low-risk business model that keeps the company profitable, giving it no incentives to deny customer claims.
Lemonade has recently added accident and illness pet insurance to its service, offering a choice of deductibles from $100 to $500 and annual limits from $500 to $100,000. You can also pick 70%, 80%, or 90% reimbursement for your vet fees for covered services.
Lemonade requires you to submit medical records for a full exam performed 12 months before your policy start date for pets over the age of one. Failure to produce these records can delay the processing of your first claim.
Although Lemonade is rapidly expanding its coverage area, it currently offers policies in just 49 U.S. states. You can consult the company’s coverage map to find out if it’s available in your area, and if not, you can sign up to receive an email notice when coverage becomes available where you live.
Lemonade receives an excellent rating from Consumers Advocate and an average rating from Trustpilot. Some customers complain about the lack of personal customer service and difficulty resolving claims due to the company’s heavy use of chatbot technology. Satisfied reviewers praise the company’s low prices, customizable policies, and easy signup.
Although Lemonade is not rated by AM Best, it has received an A rating for financial stability from Demotech, a similar agency that evaluates property and casualty insurers.
Policies Available: Accident and Illness
Lemonade offers customizable accident and illness insurance for dogs and cats. Using the streamlined online quote generator or the Lemonade mobile app, you can quickly build a policy by combining the following coverage options any way you want:
- Deductible: $100, $250, $500
- Annual coverage limit: $5,000, $10,000, $20,000, $50,000, $100,000
- Reimbursement: 70%, 80%, 90%
Lemonade requires you to wait two days before submitting accident claims, 14 days for an illness claim, and six months for a claim involving cruciate ligaments. Any claims filed before these waiting periods are up will be automatically declined.
Although Lemonade doesn't specifically state that it has an age limit for pets it will cover, the online quote builder wouldn't offer us a policy for a purebred or mixed-breed dog over the age of 10.
Accident and Illness
Lemonade’s accident and illnesses insurance covers incidents involving injuries and illness and repeating or chronic conditions (cancer, heart disease, diabetes, allergies, arthritis, and skin conditions) and congenital or hereditary conditions (elbow and hip dysplasia, hernias, and blood and eye disorders).
The following services and treatments are covered:
- Diagnostic (blood tests, urinalysis, X-rays, MRIs, lab work, CT scans, and ultrasounds)
- Procedures (outpatient, specialty and emergency care, hospitalization, and surgery)
- Medication (injections and prescription medications)
Extended Accident and Illness
Lemonade is one of a handful of pet insurers that don’t automatically cover vet exam fees for accidents and illnesses. Instead, you will need to add the Vet Visit Fees rider to your plan for a few extra dollars per month if you want to be reimbursed for those visits. The physical therapy rider covers acupuncture and chiropractic care for covered conditions.
Other Add-Ons: Wellness and Preventative Care
Lemonade offers a Preventative and Wellness package that can be added to your policy for an additional cost. The plan reimburses you for a portion of the cost of common routine and preventative care services.
The table below shows how much Lemonade will pay for each service per policy term:
|Internal parasite or fecal test||$35|
Emergency Claim Service
While some pet insurance companies offer an emergency vet hotline you can use for immediate medical advice, Lemonade states that you should contact your pet care provider as soon as possible and then file a claim on the Lemonade app when you're ready. In short, if your pet needs immediate medical attention, you can rush them to a vet without stressing over how you're going to pay for the treatment or service they need.
Plan Exclusions: Pre-Existing Conditions
Lemonade excludes coverage of pre-existing conditions from its accident and illness policies but will cover accidents and illnesses that result from hereditary or congenital conditions. The following incidents are also not covered:
- Elective cosmetic procedures
- Behavioral treatments
- Dental care (except for extraction and reconstruction due to an accident)
- Preventable situations and neglect
- Alternative and experimental treatments
Cost: Low Premiums but No Coverage for Older Pets
Lemonade uses AI software and its Lemonade Giveback program that keeps the company profitable by donating unclaimed funds to causes its customers love. The result is that it offers some of the lowest prices we’ve come across in our reviews.
Accident and illness insurance for a mixed-breed, medium-sized (20 to 55 lbs.), three-year-old, female dog with $10,000 coverage, a $500 deductible, and 80% reimbursement came to $12 per month. Preventative and Wellness coverage added an extra $16 per month for a total of $28 per month. Vet visit Fees coverage added $2.17 per month, and physical therapy added $0.75 per month for a total of $30.92 per month.
Accident and illness insurance for a domestic longhair, one-year-old, male cat with $10,000 coverage, a $500 deductible, and 80% reimbursement came to $11 per month. Preventative and Wellness coverage added an extra $10 per month for a total of $21 per month. Vet visit fees and physical therapy coverage cost nothing extra per month to add on.
Lemonade’s minimum premium is set at $10 per month. As a result, we were able to adjust the base policy for the cat in the example above and get $100,000 in annual coverage for the same amount. If your base quote comes back at $10, adjust the deductibles, coverage, and reimbursement to get more for your money.
Lemonade offers a 5% discount for insuring multiple pets and you can also save 10% on your premiums by bundling your pet insurance with one of its home insurance policies.
Customer Service: Slick Mobile App and Emergency Claims
Because it’s a tech-first company, Lemonade relies on its mobile app to manage all claims and customer communication. The only customer service available outside the app is through the chat-bot and by phone Monday through Friday, 9 am to 8 pm ET.
All claim filing is done exclusively through the Lemonade mobile app, so you’ll need to make sure your smartphone is compatible with the app before purchasing a policy. You can also enter your bank account information and have your reimbursement deposited directly into your account. Because of its advanced automation, Lemonade can often approve and pay claims in seconds.
Lemonade only lets you file claims and documents through its mobile app, so make sure your smartphone can run it before signing up for a policy.
Competition: Lemonade vs. Embrace
We compared Lemonade to Embrace, another one of our favorite low-cost, no-hassle pet insurers with similar coverage options. Both make it easy to customize a policy, though Embrace has only a $200 minimum deductible and a maximum $30,000 annual coverage limit, while Lemonade lets you choose a deductible as low as $100 and an annual limit of up to $100,000.
In the table below, you can see that a policy with Embrace costs about $26 more per month than one from Lemonade. However, Embrace delivers more for your money. Its accident and illness policy, for instance, provides coverage for gingivitis, root canals, crowns, and periodontal disease instead of the basic dental work related to an accident Lemonade covers.
You’ll pay more for preventive care through Embrace, which is offered more like a flexible spending account (FSA) than a true wellness plan. However, you’ll also get more coverage too, including prescription food, spaying and neutering, dental cleanings, grooming, microchipping, funeral expenses, and more. There are no coverage limits per service with Embrace, either. Simply choose an annual limit of $250, $450, or $650, and divide the amount by 12 to determine how much you’ll pay each month.
Overall, although Lemonade offers fast and cheap coverage, Embrace delivers affordable coverage that’s a lot more well-rounded. If you’re truly looking to save, you can’t beat Lemonade’s prices. But if you want more for your money, Embrace is the better choice.
|Animals covered||Dogs and cats||Dogs and cats|
|Example cost||$30.67 to insure a two-year-old dog with 80% coverage, a $10,000 annual limit, a $500 deductible, veterinary and exam fee coverage, and wellness plan||$57.69 to insure a two-year-old dog with 80% coverage, a $10,000 annual limit, and a $500 deductible, plus $250 in wellness coverage|
|Coverage type||Accident and illness, wellness||Accident-only, accident and illness, wellness|
|Waiting period||Accidents: Two days Illnesses: 14 days||Accidents: Two days Illnesses: 14 days|
|Network size||Licensed vets in 49 U.S. states||Any licensed vet in the U.S.|
Based on our methodology, Lemonade’s bargain premiums, simple policies, and fast claims process make it a great option for pet owners wanting a hassle-free and affordable way to protect their pets.
We loved that we could easily build and purchase a policy using Lemonade’s website or app without ever speaking to an agent. Its plain language policies also made it easy to see exactly what our coverage included without any confusion.
However, we were a little disappointed to see Lemonade separate its exam and office visit coverage into an add-on. At just an extra $2+ per month, we don’t see why they couldn’t have just wrapped it up into its base policies.
Lemonade’s wellness plan also falls a bit short, offering low reimbursements for only a handful of preventative services. We would have preferred to have more services covered with higher limits or a lower flat-rate plan for the price.
Overall, however, between its low premiums and fast claims, we feel that Lemonade offers the peace of mind of knowing that your pet family is protected without digging deep into your wallet or trying to understand complicated insurance jargon.
Demotech, Inc. "Lemonade Insurance Company." Accessed September 27, 2021.