Lemonade Pet Insurance Review – Is It Really Worth It?

Lemonade is a reputable and trustworthy insurance company that recently branched out and started offering pet insurance for cats and dogs. Keeping the needs of its customers in mind, Lemonade offers great coverage and near-instant claims settlements via the app.

While a new name in the pet insurance business, Lemonade offers different coverage options and gives its customers a chance to customize their plans. Unlike many other pet insurance companies, Lemonade also has a Wellness Care Plan that covers the costs of preventative care treatments.

In this Lemonade Pet Insurance review, we’ll take a look at what this company has to offer in terms of limits, rates, coverage, and how it stacks up against the competition. Continue reading to find out more.

Pros & Cons Of Lemonade Pet Insurance

While Lemonade Insurance Company has been around for years, they have just started offering pet insurance in July 2020. Before you decide to purchase a premium, take a look at the pros and cons of Lemonade’s pet insurance coverage:

Pros:

  • Competitive prices
  • 10% discount on combined insurance policies
  • Optional wellness coverage
  • Fast claims payment
  • Customized insurance plans

Cons:

  • No dental illness coverage

Types Of Insurance Offered

Lemonade started operating as a property and casualty insurance company offering extensive renters and home insurance policies. But, as of mid 2020, the company launched a pet insurance policy designed exclusively for cat and dog owners.

At this time, Lemonade only offers pet insurance policies for cats and dogs and doesn’t provide coverage for parrots or reptiles. If you have exotic pets, check out Pet Assure reviews for more details on their discount plan.

Note, Lemonade requires a medical exam not older than 12 months for all pets, one years old and older. So, you’ll have to get all the necessary documentation before purchasing Lemonade’s insurance for your pet.

Keeping the needs of pet parents in mind, Lemonade offers:

  • Basic Accident and Illness Plan: Covers expenses resulting from an accident, illness, and injury
  • Extended Accident and Illness Plan: Covers expenses resulting from an illness, accident, physical therapy, and vet exam fees
  • Optional Wellness Package: Covers annual vet check-ups, routine tests, and up to three vaccines

How To Get A Quote For Lemonade Pet Insurance?

Like all other insurance companies, Lemonade can give you a quote for your monthly insurance rate. Keep in mind that factors such as your pet’s age, gender, overall health, and the area you live in will significantly affect your monthly rate.

To get a quote for your pet’s insurance policy, visit Lemonade’s website, and spend a few minutes filling in the online form. You’ll be asked to provide some personal information and more details about your pet’s medical history to get an accurate estimate.

What Does Lemonade Pet Insurance Company Cover?

As a new name in the pet insurance world, Lemonade offers comprehensive accident and illness coverage plans for cats and dogs. Furthermore, you can add the Wellness Package to any of the two basic plans and get additional coverage for preventative care treatments.

The Basic Accident and Illness Plan covers the treatment of injuries resulting from accidents and illnesses ranging from vomiting, diarrhea, and diabetes to cancer. Lemonade’s Basic Plan also provides coverage for hereditary and congenital conditions such as hip dysplasia.

However, like the majority of pet insurance companies, Lemonade doesn’t provide coverage for any pre-existing conditions. And while no insurance company covers pre-existing conditions, Petplan has a policy that covers curable pre-existing conditions.

Lemonade’s extended Accident and Illness Plan builds on the Basic Plan and provides the coverage for advanced and holistic treatments. Furthermore, you won’t have to pay for any accident or illness related exam fees.

It’s important to note that Lemonade doesn’t provide dental care coverage unless the tooth damage is the result of an accident. Essentially, the insurance will pay if your dog’s tooth gets broken in a car accident, but it won’t pay for the treatment of periodontal disease.

Lemonade offers its customers a chance to customize their insurance plans and choose limits, reimbursement rates, and deductibles. Currently, Lemonade offers a wide range of annual limit options starting at $5,000 and going to $100,000 for coverage.

With this company, you also have a chance to choose annual deductibles of either $100, $250, or $500 and set the reimbursement rate to 70%, 80%, or 90%. Customizing your coverage plan gives you a chance to significantly reduce your monthly premium. However, with a lower monthly rate, you’ll have to pay more if your pet ends up needing an expensive surgery, so customize your plan prudently!

Although Lemonade’s policies provide extensive coverage, you won’t get reimbursed for the following:

  • Pre-existing conditions
  • Non-accident related dental conditions
  • Elective treatments
  • Grooming or boarding services

How Much Does Lemonade Pet Insurance Cost?

Compared to other pet insurance companies, Lemonade offers competitive prices and their policies cost significantly less.

Lemonade’s basic accident and illness plans are around $12 a month for young and healthy pets. The optional Wellness Plan is an additional $16 to $18 a month, and if you opt for extended coverage, you’ll pay $3 to $6 more per month.

Keep in mind that these are just starting prices and the exact cost of the premium will depend on your pet’s age, health status, and the area you are living in, among other things.

Customer Service & Satisfaction

You probably won’t find a specific Lemonade pet insurance review online since the company just started offering pet insurance. But overall, people who have been using Lemonade home insurance are pleased with the company and their services. However, several customers complained that the company is taking longer than before to settle property-related claims.

Lemonade’s customer service can be reached via phone or email, and it is there to help customers and give them all the necessary information. This company has a sophisticated app system that can settle and approve claims within seconds, which is more than convenient when dealing with a sick or injured pet.

Things To Consider When Purchasing Pet Insurance

With a pet insurance plan, you can rest assured that your beloved pet is covered no matter what! To find the insurance coverage that will actually pay for your pet’s medical expenses, consider the following:

  • Research different pet insurance companies to find the best insurance policy for your pet and get the most value for your money.
  • If there is a chance your pet might develop hereditary conditions, get insurance while they are still young and healthy.
  • Always check to see if you can customize the insurance plan and set the limit, deductibles, and reimbursement rates to suit your needs.
  • If you have several pets, check if the company offers a multi-pet discount or other benefits that can lower the cost of a monthly premium.

What Makes Lemonade Different From Competitors?

Despite being an up-and-coming name in the pet insurance industry, Lemonade has several key features that help it stand out from the competition:

  • Offers a 10% discount to all customers who already have a Lemonade home or renters insurance
  • Wellness Plan can be added to either one of the two basic insurance plans
  • Claims can be settled and reimbursed instantly with the Lemonade app
  • Offers extensive accident and illness coverage at half of what you would typically pay

Final Thoughts

Although Lemonade is a trusted and well-known company in the insurance business, you probably won’t find a specific Lemonade Pet Insurance review online.

However, just because they didn’t offer pet insurance before doesn’t mean they haven’t figured out what pet parents need. In fact, Lemonade is a great choice if you are looking for customized insurance plans and great coverage at a lower price.

Lemonade Pet Insurance FAQs

Is Lemonade Pet Insurance Recommended?

Lemonade is a well-known and highly reputable insurance company that recently started offering pet insurance to their customers. When compared to the competition, Lemonade pet insurance offers great coverage at a lower monthly rate.

How Much Do Lemonade’s Pet Insurance Policies Cost?

Lemonade’s pet insurance policies are generally a couple of dollars cheaper than those of other pet insurance companies. However, many factors such as your pet’s age, medical history, breed, gender, and the location you are living in will affect the price of the insurance policy.

Is Lemonade Pet Insurance Good?

When compared to the competition, it looks like Lemonade’s pet insurance offers extensive coverage policies for cats and dogs at great value. However, since this company started selling pet insurance recently, only time will tell how good their insurance policies actually are.