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Launched in 2020, Lemonade Pet Insurance has quickly risen to the ranks of one of the most popular pet insurance companies in America. They’re known for competitive rates and a fast digital claims service. Like all pet insurance, Lemonade has its pros and cons. Here’s an in-depth review to help you decide if Lemonade is the right insurance for your pet.
Pros And Cons Of Lemonade Pet Insurance
Pros
- Competitive pricing: Lemonade is known for affordable rates with premiums starting as low as $10 a month.
- Customizable coverage: Lemonade offers multiple choices for annual coverage limits, deductibles, and reimbursement rates.
- Multiple preventative care packages: Lemonade offers three wellness plans to choose from, including a puppy/kitten package for customizable preventative care.
- Fast, digital claims process: Lemonade boasts a “lightning-fast claims process” that is 100% digital. Many claims are approved and paid within minutes.
- Multiple discount options: Lemonade offers a wide range of discounts from multi-pet discounts to bundles with other insurance offerings by the company (car, home, renter’s, and life)
Cons
- Basic coverage: While Lemonade offers highly affordable plans, some things are not included unless you purchase add-ons.
- Extended cruciate injury waiting period: Lemonade has an extended 6-month waiting period for cruciate ligament injury coverage.
- May have age and breed restrictions: Lemonade may have restrictions based on age and breed (based on a report by Marketwatch)
- Not available everywhere: Lemonade Pet Insurance is currently available in 35 states.
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Lemonade Pet Insurance Plans
Lemonade offers pet insurance plans for dogs and cats with the following coverage options:
Accident & Illness Plan
This is considered Lemonade’s basic pet insurance plan. It provides coverage for your pet’s medical expenses related to accidents and illnesses.
This includes accidental injuries such as broken bones, hit-by-car incidents, and wounds, plus illnesses like cancer, diabetes, infections, and more.
Covered costs include diagnostics, lab work, treatments, hospitalizations, surgeries, and more.
Add-On Coverage
In addition to the accident and illness plan, policyholders have the option to add-on coverage for things like dental illness, behavioral care, physical therapy, and end-of-life care.
Preventative Care
Lemonade offers 3 preventative care packages to choose from:
- Preventative Package: Offers coverage for annual exams, vaccines, parasite screening, and blood work.
- Preventative Plus Package: Offers coverage for all of the above plus dental cleanings and parasite prevention (flea, tick, and heartworm medications).
- Puppy/Kitten Package: Offers coverage for wellness visits, microchipping, spaying and neutering, and vaccines for puppies and kittens.
Lemonade Pet Insurance Availability
Currently, Lemonade offers pet insurance in 35 states (plus the District of Columbia):
Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, 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 state, and Wisconsin.
What Doesn’t Lemonade Pet Insurance Cover?
Like all pet insurance plans, Lemonade has its exclusions:
- Preexisting conditions: Any medical problem your pet has prior to enrollment.
- Illnesses or injuries during the waiting period: Similar to preexisting conditions, any illness or injury sustained during the waiting period will be excluded.
- Experimental treatments: Any treatments that are considered investigational, experimental, or beyond the standard scope of care in veterinary medicine like non-FDA approved medications or clinical trial treatments.
- Bilateral conditions: Conditions that can affect both sides of the body such as hip dysplasia or cataracts are not covered after the first affliction.
- Preventable, recurring conditions: This can refer to many different scenarios but typically involves your pet repeating a behavior that causes a health issue deemed preventable.
It can include things like gastrointestinal distress from getting into the garbage can or your pet injuring themselves by jumping off something repeatedly.
Lemonade considers these things preventable by the owner (putting the trash out of reach, removing access to dangerous items, etc) after the first incident.
Lemonade Pet Insurance Waiting Periods
Pet insurance coverage doesn’t kick in until after a specific period of time. This is known as the waiting period.
Lemonade’s waiting periods are:
- 2 days for accidents
- 14 days for illnesses
- 6 months for cruciate ligament injuries
These waiting periods are considered fairly standard in the pet insurance industry. Most companies have a shorter waiting period for accidents than for illnesses. The extended waiting period for cruciate ligament coverage is found in some, but not all, pet insurance plans.
Lemonade Pet Insurance Costs
Like all pet insurance, Lemonade’s monthly premiums will vary based on many factors including your pet’s age, breed, sex, and location.
Here’s a breakdown from one study on pet insurance quotes for Dallas, a populated city in Texas.
| Accident + Illness | Accident + Illness + Preventative Plan | |
|---|---|---|
| Labrador Retriever | ||
| 8-week-old puppy | $85.27 | $116.11 |
| 5-year-old | $102.12 | $111.24 |
| Senior | $151.70 | $160.83 |
| French Bulldog | ||
| 8-week-old puppy | $110.77 | $141.61 |
| 5-year-old | $136.55 | $145.67 |
| Senior | $181.47 | $190.59 |
| Golden Retriever | ||
| 8-week-old puppy | $83.93 | $114.76 |
| 5-year-old | $100.30 | $109.43 |
| Senior | $148.50 | $157.62 |
| German Shepherd | ||
| 8-week-old puppy | $83.79 | $114.62 |
| 5-year-old | $100.12 | $109.24 |
| Senior | $128.58 | $137.70 |
| Poodle | ||
| 8-week-old puppy | $75.09 | $105.93 |
| 5-year-old | $84.96 | $94.09 |
| Senior | $118.36 | $127.49 |
| Exotic Shorthair Cat | ||
| 8-week-old kitten | $49.11 | $75.53 |
| 5-year-old | $54.26 | $60.85 |
Other Factors Determining Cost
Lemonade offers highly customizable coverage with multiple options for choosing your annual coverage limit, deductible, and reimbursement rate.
Annual Limit
This is the most your pet insurance will cover for the year. Once you reach this limit, you’ll pay out-of-pocket for any remaining vet bills until your renewal date. The higher the annual limit, the higher your monthly premiums will typically be.
Lemonade offers the following annual limit options:
- $5,000
- $10,000
- $20,000
- $50,000
- $100,000
Deductible
This is the amount you must pay out-of-pocket for your pet’s veterinary expenses before you are eligible for reimbursements.
Lemonade offers the following deductible options:
- $100
- $250
- $500
Reimbursement
This is the percentage of your veterinary bills the insurance will pay after the deductible has been met.
Lemonade offers the following reimbursement options:
- 70%
- 80%
- 90%
Possible Discounts
- Lemonade provides a 10% discount for pet insurance if you bundle your pet insurance plan with one of their home or renters’ insurance policies.
- A 5% discount is offered for insuring multiple pets with Lemonade.
- You may also be eligible for another 5% discount by switching to an annual premium (one large sum upfront as opposed to monthly payments).
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Frequently Asked Questions (FAQs)
Does Lemonade offer a wellness plan?
Lemonade offers three wellness coverage options: preventative care, preventative care plus, or the puppy/kitten package (coverage for each package is detailed in section two).
Does Lemonade cover preexisting conditions?
Like all pet insurance, Lemonade does not cover preexisting conditions. A medical records review and/or veterinary check-up may be required in order to complete the enrollment process.
Does Lemonade cover dental cleanings?
Lemonade only covers dental cleanings in the preventative plus package.
Does Lemonade have any coverage limits?
Lemonade policyholders can choose their coverage limit with several options ranging from $5,000 to $100,000.
How do I file a claim with Lemonade?
Lemonade offers a 100% digital claim service. Policyholders can download the company’s app and follow the prompts to file a claim quickly and digitally.
How long does it take Lemonade to pay out?
Most claims are approved within two days but some can be paid even faster. Lemonade’s unique AI-powered claims system approves some claims within just minutes of submitting.
How do I cancel a policy from Lemonade?
You can cancel your pet insurance policy with Lemonade at any time through the app. There are no cancellation fees and you’ll be refunded any remaining portion of your premium.
Does Lemonade cover spaying or neutering?
Spaying and neutering are only covered under Lemonade’s puppy or kitten preventative care package.
Does Lemonade cover euthanasia?
Euthanasia is only covered under Lemonade’s end-of-life care add-on.
Does Lemonade cover hip dysplasia?
Hip dysplasia is covered under the basic accident and illness plan as long as there were no signs of it prior to the beginning of coverage (preexisting condition).
Is Lemonade accepted by every vet?
Lemonade works on a reimbursement model so there are no in-network or out-of-network vets to worry about. Your pet can be seen by any licensed veterinarian and have their medical costs reimbursed.
Does Lemonade pay the vet directly?
Lemonade does not offer direct-to-vet payment options. It operates strictly on a reimbursement model. You’ll pay your pet’s medical bill upfront, file a claim, and receive reimbursement from Lemonade.
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