Lemonade Pet Insurance Review

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Lemonade Pet Insurance is bound to become a game changer in the pet insurance industry. Find out if it could be right for you and your pet.

Editor's Note

You can trust the integrity of our balanced, independent financial advice. We may, however, receive compensation from the issuers of some products mentioned in this article. Opinions are the author's alone. This content has not been provided by, reviewed, approved or endorsed by any advertiser, unless otherwise noted below.

Lemonade is the latest company to join the growing field of pet insurance providers. Even though they’re a brand-new entry, they shouldn’t be underestimated. Their success in providing low-cost homeowners insurance, renters insurance and condo insurance – with quick claims settlements – has set a precedent establishing Lemonade as one of the high-quality providers in any insurance field they enter.

Lemonade has proven to be a disruptor in the homeowner’s, renters and condo insurance spaces, and we have every reason to believe they’ll perform a similar function in the pet insurance industry. Lemonade makes both the process faster and paying claims easier and more hassle-free for a pet owner. Just as is the case with their homeowners, renters and condo insurance, they’ll likely prove to be a low-cost provider of high-quality pet insurance.

About Lemonade Pet Insurance

Best known as a provider of low-cost homeowners, renters, and condo insurance, Lemonade entered the pet insurance field in 2020. Founded in 2015, Lemonade is considered an “insurtech”, operating as a tech-centered insurance company providing its products entirely online. The company is based in New York City and currently offers its services in Germany, the Netherlands, and in 34 U.S. states (+D.C.), with more on the way.

Pet insurance is available for dogs and cats and includes basic hospitalization, accident and illness coverage, and preventative and wellness packages. Coverage will start as low as $10 per month, and you can even get a bundling discount if you have your homeowners insurance through the company.

Learn More: The Hidden Costs of Exotic Pets

Lemonade is different from traditional insurance companies that profit by keeping money not paid out in claims. With Lemonade, participants pay into the company, then have claims paid as needed. Under Lemonade’s model, it’s possible to have a claim paid in a matter of minutes.

Plus, any money left at the end of the year is distributed through their Giveback program, in which you can pick a cause you want your excess premium dollars to go to.

Lemonade has a Better Business Bureau rating of “B+”, on a scale of A+ to F. The company also has 4.9 stars out of 5 with more than 35,000 iOS users on the App Store, as well as a rating of 4.6 stars out of 5 stars from more than 7,000 Android users on Google Play.

How Lemonade Pet Insurance Works

Lemonade Pet Insurance works entirely online. That includes access to both the website and your mobile device. And not only can you sign up for the coverage through the app, but you will also handle all communications and filing of claims in the same way.

Like most other pet insurance providers, Lemonade allows you to work with any licensed veterinarian or pet care facility in the U.S. You can bring your pet to the care provider of your choice, and obtain reimbursement for services, sometimes before you even leave the veterinarian’s office. However, like with most other pet insurance companies, you should expect to pay the care provider directly, then receive reimbursement from Lemonade.

Visit Lemonade Pet Insurance

General parameters of the policy include:

Dental coverage: Not offered for routine coverage. However, the policy will cover injury to teeth caused by an accident, as well as the cost of extraction and reconstruction of damaged teeth.

Pre-existing conditions: Described as any condition that existed before the policy was purchased, including chronic conditions, bilateral conditions, or intervertebral conditions. These conditions are not covered.

Policy deductibles: $100, $250, and $500.

Co-insurance provision: Lemonade will pay up to 70%, 80%, or 90% of all covered expenses. The lower the coinsurance provision, the lower your premium will be.

Maximum dollar amount of coverage per year: Your choice of $5,000, $10,000, $20,000, $50,000, or $100,000.

Discounts: There is a 10% discount if you also have your homeowner’s insurance through Lemonade.

What’s Included in Lemonade Pet Insurance

  • Accidents, unexpected events like road accidents or poisoning that result in injury, sickness, broken bones, and sprains.
  • Illnesses, including vomiting, diarrhea, and infections.
  • Repeating or chronic conditions, like cancer, heart disease, diabetes, allergies, arthritis, and skin conditions.
  • Congenital or hereditary conditions, such as elbow and hip dysplasia, hernias, and blood and eye disorders.
  • Diagnostics, including blood tests, urine analysis, x-rays, MRIs, lab work, CT scans, and ultrasounds.
  • Outpatient, specialty, and emergency care, hospitalization, and surgery.
  • Prescription medicines.

Additional Packages

Preventative and Wellness Package: Designed to keep your pet healthy, Lemonade will help pay for preventative care costs, including annual wellness exams, bloodwork, vaccines, and other services. You’ll also get wellness reminders and chat access to the company’s pet health experts.

Preventative care limits are as follows:

  • Wellness exam, $50
  • Heartworm test, $40
  • Internal parasite or fecal test, $35
  • Bloodwork, $65
  • Three vaccines, $75

Extended Accident and Illness Package: If you select this package, you’ll be reimbursed for treatments for functionality issues, like physical therapy, acupuncture and hydrotherapy. Those are therapies that can help your pet through a recovery process. As part of the package, Lemonade will also pay for visit fees that are charged for accidents and illnesses, over and above the actual cost of the treatment.

Product Features

Availability: Lemonade Pet Insurance is currently available in 34 states, and the District of Columbia. States where the coverage is available include Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Georgia, Illinois, Indiana, Iowa, Maryland, Michigan, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin. They promise other states will be added soon, so stay tuned!

Pet age limitations: Varies by breed, and will be different for each. However, once a policy is in force on a pet it will never be canceled due to the pet’s age.

Pet breed limitations: Hybrids with wolves or wild cats.

Policy exclusions: Lemonade will not cover pre-existing conditions, elective cosmetic procedures, or behavioral treatments. Also excluded are microchips, spaying or neutering, internal and external parasite prevention, and conditions relating to breeding or pregnancy. Prescription foods, vitamins and supplements, obedience training, and other behavioral conditions or recurrent conditions for repetitive occurrences are also excluded, as are burial and cremation expenses.

Other non-covered events: Accidents or illness owing to neglect, such as failing to provide your pet with adequate routine care.

Waiting period: As is typical of all insurance policies, Lemonade does impose a waiting period. It’s a one-time waiting period of two days for an injury, 14 days for illness, and six months for cruciate ligaments.

Mobile App: The Lemonade Pet Insurance mobile app is available on the App Store for iOS devices 11.0 or later, and is compatible with iPhone, iPad, and iPod touch. The Lemonade app is likewise available on Google Play for Android devices, 5.0 and up.

Filing a Claim with Lemonade Pet Insurance

You’ll find filing a claim with Lemonade to be easier than with traditional insurance providers. You can file a claim from the mobile app by hitting the Claim button. You’ll be guided through the rest of the process. In fact, the company claims 30% of claims are handled instantly.

You’ll be asked to enter your bank account wire information, and once your claim is approved, payment will be issued directly into your account. The company aims to pay claims “almost instantly”. That means it may be possible that the cost of a procedure or test will be paid before you even leave the veterinarian’s office.

You’ll be asked to do a short video on your mobile device explaining the claim in your own words. This may be an extra step, but it will avoid the need to complete too many input screens. You’ll also need to send a copy of the vet bill and receipt from your vet or clinic, which can easily be done by snapping a photo of the documents from your smartphone.

Some cases will need to be fully reviewed and may take longer to settle. This may be more likely to occur when you make your first claim, since you will be unfamiliar with the process. All claims must be filed within 180 dates of treatment, including providing all necessary information.

Lemonade Pet Insurance Premiums

Since Lemonade advertises monthly premiums as low as $10, I ran a scenario based on an average dog. And I must admit I was surprised at how high the premium was.

The information was entered on a five-year-old Airedale Terrier, living in Atlanta and in good health.

The application requests the following information:

  • Your pets name
  • Dog or cat
  • Your home address
  • The pet’s age, breed, and gender
  • Your pet’s overall health condition (has always been healthy, has medical issues, had issues and is now healthy are the choices)
  • Does your pet currently have active pet health insurance?

With a $250 deductible and 80% coverage up to $20,000 per year, the premium came back as follows:

There is also an optional charge of $16 per month for the Preventative and Wellness Package, plus another optional additional Extended Accident and Illness package, for an additional$9.25. That brought the total cost of coverage up to $58.58 per month, or just about $703 per year.

That’s a long way from the $10 per month advertised.

But just to see if the $10 premium is legitimate, I ran a one-year-old, medium domestic female in excellent health. That came back at just $$10.50 per month. That policy similarly features a $250 deductible, with 80% reimbursement up to $20,000 per year.

It’s worth noting that pet insurance for cats is substantially less expensive than it is for dogs.

Related: Lemonade Insurance Review: Affordable Renters & Home Insurance

How to Sign Up with Lemonade Pet Insurance

You can sign up for coverage online or through the Lemonade Mobile App. The process will take just a few minutes. You’ll need to place a credit or debit card on file to pay your premiums, which will be billed on a monthly basis.

Lemonade will require that you have a medical exam on file from the 12 months prior to your policy period, or from the first two weeks your policy is in force. That information will be required before the company will pay any claims for your pet.

Customer Service & Support

Customer support is available through the app and the website, under the “Help” button. Additionally, support is available by phone at (844) 733-8666, Monday through Friday from 9 am to 8 pm EST.

Pros and Cons

  • Provides up to 90% reimbursement — Many competitors reimburse at lower levels.

  • Choose your own care providers — There are no networks to limit your care options.

  • Low-cost provider — Pet insurance premiums start as low as $10 per month.

  • Multi-policy discounts — You can get a 10% savings if you bundle with your homeowners insurance through Lemonade.

  • Fast claim payments — Lemonade promises to pay claims almost instantly, since they are filed from your mobile app.

  • There are age limits — These will vary according to the breed of pet you have and apply to new policies only. An existing policy won’t be canceled due to the age of your pet.

  • The company is brand-new to pet insurance — It might be reasonable to expect a few kinks in the system early on.

  • Limited dental coverage — Pays for teeth damaged in an accident, including extraction and reconstruction, but not routine care.

Lemonade Pet Insurance Alternatives

The number of companies participating in pet insurance is growing, which is fortunate given that the cost of obtaining that care is also rising. In addition to Lemonade consider the following pet insurance providers:

Embrace is one of the best-known pet insurance companies. Like most other pet insurance companies, they limit coverage to dogs and cats. And they allow you to work with any licensed veterinarian or pet care facility of your choice. They offer what they refer to as Nose-to-tail Pet Insurance Coverage, covering accidents, illnesses, breed-specific and genetic conditions, cancer, and dental illnesses. But they also cover more common conditions, like allergies, arthritis, and diabetes. What’s more, they also cover prescription medications, including, if necessary, oral chemotherapy. Reimbursement levels are set at your choice of 70%, 80%, or 90%, with deductibles ranging between $100 and $1,000.

Read More: Embrace pet insurance review

Pumpkin Pet Insurance is another fast-rising pet insurance provider. Much like Lemonade, they only began their pet insurance operation in 2020. But they’re enabling participants to receive a high reimbursement rate on eligible veterinary expenses for both accidents and illnesses. They also offer an optional preventative care package that covers an annual wellness exam, vaccines, and key tests. They also offer flexible annual limits and deductibles. And perhaps best of all, your premium will not automatically increase due to filing claims. Also – very important – there are no upper age limitations. Pumpkin Pet Insurance is underwritten by United States Fire Insurance Company.

Learn More:

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Should I be concerned Lemonade only began offering pet insurance a few weeks ago?

You might be more concerned with that issue if Lemonade was completely new to the insurance field, but it isn’t. They already have an established track record with homeowner’s, renters and condo insurance, so they know the industry. Meanwhile, most of the pet insurance companies on the market have only come on in the last one or two years. Pet insurance is a new and fast-growing industry, regularly featuring new entrants.

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If I already have homeowner's or renter's insurance with Lemonade, should I just accept a pet policy from them or should I shop around?

If you already have a policy from Lemonade, they will certainly be a good place to start your search. But when it comes to buying insurance of any type, it’s always best to shop around. Start with Lemonade, but also get quotes from Embrace and Pumpkin Pet Insurance before making your decision. If a comprehensive policy will cost $600 or $700 per year, wouldn’t it be better to save the money in an emergency fund for my pet, rather than purchasing insurance? There is certainly an argument to be made for that strategy. But the flaw is that medical emergencies can strike at any time. If it happens when your pet is two years old, and you’ve only had a chance to put away about $1,400, you won’t have adequate funds if the cost of medical care is $10,000. The purpose of insurance is always to be prepared for what you aren’t ready to cover right now.

Is Lemonade Pet Insurance the Right Pet Insurance for You?

Due to rising costs and more expensive medical treatments available, having pet insurance is increasingly becoming a necessity for a pet parent. There are plenty of good pet insurance providers available, and even though it’s brand new in the field, I expect Lemonade to become one of the better providers. Their track record with homeowners, renters, and condo insurance has already set the precedent.

One of the big advantages Lemonade insurance offers is the absence of the bureaucratic process that typically accompanies dealing with insurance companies. Their unique business model allows them to use a simple process in which participants pay premiums, and the company pays out claims almost immediately. They view the premium money you pay as your money, and avoid creating unnecessary obstacles to paying claims.

One thing to be aware of is that there is a wide variation in the premium level you will pay. Even though they advertise premiums as low as $10 per month, that’s the cost of a stripped-down policy for cats. If you’re looking for a more comprehensive plan, the kind that will cover major surgery, you’ll need to go with more generous policy limits.

But don’t get too carried away on that front either. Though they offer annual coverage limits up to $100,000, that amount will be totally unnecessary in the vast majority of cases. For most pets, a policy limit of $20,000 or even $10,000 will be sufficient.

That may be the very best reason to choose Lemonade insurance company for your pet insurance needs. They offer a wider variety of coverage options than most other providers. You can pick the one that works best for you and fits neatly within your budget.

Learn More: The 5 Best Credit Cards for Pet Expenses

Bottom Line

You’re probably already painfully aware of how expensive health care has become for people. But just as medical technology has advanced, and expectations of care have increased, the same dynamic has been playing out with healthcare costs for pets. Having a policy in place will give you options to care for your pet in a way that might not exist without coverage.

The industry is growing rapidly, as is the number of providers. Lemonade may be the latest pet insurance company in the field, but they’re hardly new to insurance. They already have an outstanding track record of providing homeowners, renters, and condo insurance. You should fully expect that positive experience will carry over to their pet insurance policies.

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