Lemonade Pet Insurance Review 2024

Well-known for offering affordable home and renters insurance policies, Lemonade has recently extended its portfolio to also provide pet coverage. Although it hasn’t been in the market for too long, the carrier has drawn the attention of many pet parents thanks to its low prices, extensive coverage features, and lightning-fast claims processing.

Lemonade Pet Insurance Overview

Launched in 2015, Lemonade is a New York-based socially conscious insurance carrier offering homeowners, renters, life, and pet health policies. What’s unique about this company is that it operates as a public benefit corporation - if the earnings generated by premiums surpass a predetermined amount, Lemonade donates the excess to animal welfare organizations and other causes meaningful to its policyholders. 

After becoming aware that about 70% of its homeowners and renters policyholders have four-legged companions, the company decided to expand its offerings and hit the pet insurance market in July 2020. Available for cats and dogs, pet insurance by Lemonade offers comprehensive and customizable coverage options, easy-to-understand policies, and affordable prices.

Although one of the latest additions to the US pet health insurance scene, Lemonade has already made waves with its AI-powered policy building and claims processing.

The company also offers a hassle-free digital experience through its smartphone app. Suitable for iOS and Android devices, the app allows policyholders to submit claims and have the reimbursement directly deposited into their checking accounts in a matter of minutes. The Lemonade app also gives pet parents round-the-clock access to medical experts. 

Lemonade has a BBB rating of “B-,” on a scale ranging from A+ to F. The insurance carrier also has 4.9/5 stars from almost 69,000 reviews on the App Store and a 4.4/5 rating from more than 15,000 Android users on Google Play.

Lemonade Coverage

As far as coverage options go, Lemonade offers customizable accident and illness policies for dogs and cats and an add-on for wellness and preventive care. The carrier provides annual deductibles as low as $100 going up to $500 along with reimbursement options from 70% to 90%.

As to annual policy limits, there are five solutions to choose from - $5,000, $10,000, $20,000, $50,000, or $100,000. Note that limits of up to $100,000 are rarely offered and that there isn’t an unlimited annual coverage option.

The range of conditions Lemonade insurance covers is quite comprehensive. The insurer’s accident and illness policy offers coverage for diagnostics, procedures, and medication.

The carrier defines accidents as unexpected events such as poisonings or road accidents that have sickness, broken bones, injuries, and sprains as a result. The list of illnesses comprises infections, allergies, skin conditions, blood and eye disorders, diarrhea, vomiting, heart disease, diabetes, arthritis, hip and elbow dysplasia, hernias, and cancer. 

On the other hand, there’s also a list of conditions Lemonade's plans don’t cover. Much like most other pet insurance carriers, it doesn’t provide coverage for pre-existing conditions, defined as accidents or illnesses or accidents that take place or manifest before the start date of your furry friend’s policy or during the waiting period.

Lemonade’s policies also exclude treatments for chronic conditions, elective cosmetic procedures, dental illness care (unless an injury to teeth is caused by an accident) and any injury or ilness that is a result of neglect.

Is Your Pet Eligible? 

If you’ve been wondering if Lemonade offers pet insurance for exotic pets, we’re sorry to disappoint you - only cats and dogs aged at least eight weeks are eligible. As far as the maximum enrollment age goes, there are no specific rules.

However, keep in mind that certain breeds (mostly large dogs) may be rejected if they are too old at application. If you aren’t sure about your pet’s exact age, you’ll be prompted to give your best estimate.

Lemonade’s services are available in 37 states and Washington, D.C. According to the carrier’s FAQ section, the list may expand soon. 

Whether your four-legged companion is spayed or neutered isn’t among this carrier’s eligibility criteria. The company reviews each application and extends an offer based on your furry companion’s age, breed, local vet costs, and the policy details such as deductibles and reimbursement rates you opt for. 

Lemonade Policy Plans 

Lemonade’s pet insurance is based around a core accident and illness policy that can be customized. Coverage includes diagnostics (blood tests, urinalysis, labwork X-rays, CT scans, MRIs, and ultrasounds), procedures (specialty and emergency care, outpatient care, hospitalization, and surgery), and medications such as injections and prescription meds needed to treat illnesses or injuries. 

This review wouldn’t be complete without mentioning that the carrier also offers an extended accident and illness package. If you opt for this add-on, you’ll receive additional coverage for physical treatments such as acupuncture or chiropractic care, along with vet visit fee coverage for eligible accidents and illnesses. 

Furthermore, Lemonade offers a preventive and wellness package also in the form of an add-on.

This option covers an annual physical checkup, including blood work and screenings for some of the most common diseases, such as parasites and heartworm. The pets’ wellness package also covers up to three vaccines - against rabies, DHLPP, and bordetella. Microchipping and spaying/neutering procedures are also covered for young pets.

Lastly, as a part of this add-on, pet parents get online access to a chat-based helpline where they can get expert advice about their pets’ health. 

Policy Details 

Here’s a rundown of policy details you should keep in mind when deciding whether to apply for pet insurance:

• Policies are underwritten by Lemonade Insurance Agency LLC.
• Claims must be filed within 180 days of an accident or illness occurring and submitted via the Lemonade app.
• A full medical exam from the past 12 months for pets older than a year is obligatory. It should offer details on the condition of joints, skin, fur, eyes, ears, mouth, and other body systems, blood test results, notes on diet, details about current medications, and the date of last vaccination. 
• You must deliver your pet’s medical records to the insurer within the 12 months prior or up to 14 days after the policy start date.
• The policy cannot be transferred to other pets. 
• Policies are valid for a year and renew automatically upon expiration unless canceled by the carrier or the policyholder. 
• The waiting periods are two days for injuries, 14 days for illnesses, and six months for cruciate ligaments.
• If you miss a payment, you’ll get an email reminder. Should you fail to settle the bill in the next 10 days, your policy will be canceled.
• Coverage is provided only when treatments are performed in the United States, by a state-licensed veterinarian, or by trained staff operating under the direct supervision of a qualified veterinarian.
• The carrier employs AI to process and assess claims. About 30% of all Lemonade pet claims are approved and paid in a matter of seconds. 
• If you change your mind about the service within the first 30 days, you’ll receive a full refund of your premium as long as you haven’t made a claim. 

Lemonade Pricing and Discounts

As is the case with most other pet insurance providers, the cost of Lemonade’s coverage for your four-legged companion is determined based on the pet’s breed, age, and the state you live in. Furthermore, the fee will also depend on whether you opt for monthly or annual billing, how big or small a deductible you can afford, how much coverage your pet needs, and on the reimbursement rate. 

Lemonade’s prices are well-known as being among the US market’s most affordable - starting price of $10 per month is hard to beat. While not many pets can qualify for a fee this low, it’s safe to say that this insurer’s charges are still very reasonable, even for older pets. 

Pet parents can choose among a few annual deductible options ($100, $250, or $500), a range of reimbursement levels (70%, 80%, 90%), and a variety of policy limits ($5,000, $10,000, $20,000, $50,000, or $100,000). The higher your deductible and the lower your reimbursement rate and policy limit, the more affordable your pet’s policy. 

Note that customization options are available for every breed and in all states where coverage is offered. 

As far as ways to lower your premiums go, Lemonade offers a 5% discount for ensuring multiple pets. You’ll also pay less if you opt for annual billing instead of monthly payments.

Additionally, you can get 10% off your policy if you bundle it with one of Lemonade's home, car or renters insurance policies. 

Here are a few examples of quotes we’ve received from Lemonade. If you’d like a better estimate of how much the insurance would cost for your pet, make sure you request an offer via the carrier’s site. After answering a few quick questions about your pet, you won’t need to wait for more than a minute for a quote.

Lemonade Customer Service 

One of the reasons Lemonade’s prices are comparatively low is that the carrier handles the whole process digitally - from application to claims and customer service. While old-school insurance providers have a network of agents and traditional support channels such as in-branch and over-the-phone customer service, Lemonade is a little different. 

Although a phone number is provided, the insurer’s website says that this point of contact should only be used in case of an emergency. In other words, unless your pet has life-threatening issues that require immediate surgery, you are encouraged to use email or the carrier’s app to submit questions or request assistance.

Customer Service Hours

Should you need support regarding a claim or any other customer service matter, you can get in touch with Lemonade via any of the aforementioned means of communication (telephone included) round the clock. Lemonade implements an AI-driven chatbot to ensure all questions are answered immediately and claims processed promptly. 

The Bottom Line

To finish off this review, let’s take a look at some of the strengths and weaknesses you should take into account when exploring coverage options for your furry friend. 

This carrier may have entered the pet insurance market just recently, but it has already made the competitors nervous. Lemonade’s AI-powered business operation model not only makes premiums much more affordable but also helps pet parents receive reimbursements faster and more efficiently.

Lemonade offers coverage that is as comprehensive as it is affordable and convenient. It’s also important to mention that policyholders can benefit from bundling opportunities. 

As far as drawbacks go, while Lemonade's plans do an excellent job of covering the basics and some advanced options, they still lack coverage for behavioral treatments and end-of-life expenses. In some cases, older pets (particularly large dogs) may even be denied coverage altogether.

Lastly, policies offered by Lemonade aren’t available in every state, although the company plans to add more locations in the future.