Lemonade Pet Insurance Review
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Being a pet parent has been a magical experience for me. But it also comes with a ton of financial responsibility and this is something I wasn’t prepared for. I could certainly plan the basic expenses like food and vaccinations, but I wasn’t ready for the accidents and illnesses which lead to a soaring medical bill. Thanks to pet insurance that I could tackle them and also ensure that my furry friend receives the best treatment and medical attention on time.
A pet health insurance policy is ideal for all pet owners and it is worth the cost. Lemonade Pet Insurance is one of the insurers that has policies designed for your four-legged friend. In our Lemonade pet insurance review, we discuss the pros and cons and help you make the right choice.
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What is Lemonade?
Lemonade is an insurance company that offers life insurance, renters insurance, pet insurance, car insurance and homeowners insurance. Founded in 2015 with headquarters in New York, Lemonade is an online service provider that uses AI to offer quotes based on your policies. It offers an illness and accident coverage as well as wellness plans to help reduce the cost of vet visits.
Lemonade does not operate in every state. It charges a flat fee from the premium and the balance is used to pay claims. When there is an amount left at the end of the year, it is donated for a good cause to the nonprofit organisations that are chosen by policyholders. Lemonade offers pet insurance plans and coverage for cats and dogs. It does not offer a coverage for exotic animals.
The company provides insurance in Arizona, California, Colorado, Connecticut, District Of Columbia, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Virginia, and Wisconsin.
If you don't live in one of these states, you cannot apply for pet insurance from Lemonade.
- Sign up in seconds
- Get paid in minutes
- Get 5% Off for 2 or more pets
- Get 10% off when you bundle
- Get 5% off by paying annually
- Award-winning service
How does Lemonade Pet Insurance work?
Lemonade is pretty simple to use. If you head to the website or Lemonade app, you will be able to check the quote within minutes. All you need to do is provide your details first, followed by the details of your pet and you will be able to get a quote. Lemonade first asks your name and address to verify whether you live in a serviceable area. Once you share your address, it will ask details about your pet. The process does not take more than 10 minutes.
I wanted to get a coverage of $20,000 with an annual deductible of $250 and an 80% payout.
I tried to get a quote for a 1 year old Golden Retriever, I was asked whether it was my first pet, the tenure the pet has been with me, if I have any other pets and whether the dog has any pre-existing health conditions. Then I was asked about any chronic conditions, brain or tummy issues the dog had. I stated that the dog had no conditions. Based on these details, I received a quote of monthly cost of $50 for a 1-year old Golden Retriever, which is their base plan.
I was also given an option to add vet visit fees as an add-on for $9.81 per month. It then gave me a dental illness cover for $12.96 per month, a behavioral conditions add-on for $3.49 per month, a physical therapy add-on for $3.19 per month and end of life costs for $3.75 per month. I was then asked if I wanted to take a preventive care package and lastly, I was taken to the payment page.
How much does Lemonade Pet Insurance cost?
The cost of Lemonade pet insurance policy will depend on where you live, the age and breed of your pet and the annual coverage limits you choose. The website states that the rates start from $10 per month. You also get a 10% discount on the insurance plan by bundling it with a renters, or home insurance policy. If you insure two or more pets, you get a 5% discount and an additional 5% discount if you pay the premium annually instead of monthly.
Related: The Best Dog Insurance Plans of 2024
- Sign up in seconds
- Get paid in minutes
- Get 5% Off for 2 or more pets
- Get 10% off when you bundle
- Get 5% off by paying annually
- Award-winning service
Lemonade pet insurance features
Illness and accident
The illness and accident is a comprehensive plan which covers for several health conditions like cancer, arthritis, urinary tract infections, diabetes, injuries and broken bones. The illness plan will pay for surgery, hospitalization, diagnostic tests, emergency care and specialty care procedures, prescription medications and injections.
Add-ons
Lemonade offers several optional add-ons to extend your pet insurance coverage. This includes vet visit fees for specific illness or accidents, physical therapy treatments, dental illness, behavioural conditions, therapy and end-of-life costs like euthanasia and cremation cost. The add-ons come with an annual limit and the deductible and reimbursement rates apply.
Wellness plans
With wellness plans, you enjoy discounts on regular vet visits even if you do not reach a deductible. It has a preventive care package which includes one annual wellness exam, upto three boosters or vaccines, one fecal or internal parasite test and one heartworm or FeLV/FIV test.
If you opt for the Preventive+ Care package for adults, the pet insurance covers everything from the above and heartwork or tick medication, routine dental cleaning and more. This includes:
- Flea, tick or heartworm medication.
- One heartworm or FeLV/FIV test.
- Two fecal or internal parasite tests.
- Up to six vaccines or boosters.
- Two wellness exams
- Bloodwork once a year.
- Microchipping.
- Spaying
Coverage and deductible options
Lemonade pet insurance offers a coverage ranging from $5,000 to $100,000 based on your pet and your requirements. Now, before the company starts reimbursement of your expenses, you will have to pay a deductible for vet bills which ranges from $100 to $750.
Reimbursement
Lemonade offers three reimbursement options for you to choose from. It can be 70%, 80% or 90%.
Lemonade Giveback
Lemonade is considered one of the best pet insurance companies for its Giveback feature. It charges a flat fee and the rest of the money is yours. It is upto you to decide which nonprofit or cause you care about and want to give money to. Each year, the company gives about 40% of the unclaimed money to the nonprofit of your choice.
Waiting period
Lemonade will not insure pets that are under 2 months old and the maximum age limit will depend on the breed. In most cases, the coverage will kick in after two days of the policy purchase in most injuries and 14 days for illnesses. It has a waiting period of six months for cruciate ligament injuries.
Exclusions
Lemonade plans have certain exclusions, let's take a look at them.
- Pre-existing conditions. Lemonade does not offer a coverage for any pre-existing medical conditions.
- Bilateral conditions. If the pet has a condition that affects two sides of the body, like hip dysplasia or cataracts before you buy the policy, it will not be covered in case the condition develops on the other side after the purchase of the policy. However, bilateral conditions are covered if the first occurrence is after you buy the policy.
Pros and cons
Pros
- Fast claims processing
- Transparent pricing
- Customizable plans
- Several add-ons
- Affordable premiums
- Reduces your vet bills
- No veterinary choice restrictions
Cons
- Limited coverage options
- Limited pet species covered
- Limited availability
- Coverage for vet exam fees to be added at an extra cost
- Sign up in seconds
- Get paid in minutes
- Get 5% Off for 2 or more pets
- Get 10% off when you bundle
- Get 5% off by paying annually
- Award-winning service
Who should use Lemonade pet insurance?
- Individuals who prefer an online only company. Lemonade's online platform and digital-first approach may appeal to pet owners who prefer managing their insurance policies digitally and value a seamless, user-friendly experience.
- Individuals looking for low premiums. Lemonade aims to offer competitive monthly premiums starting at $10/mo and it has transparent pricing, making it an attractive option for pet owners looking for affordable insurance coverage without sacrificing quality.
- Individuals seeking customization: Lemonade typically offers customizable insurance plans, allowing pet owners to tailor their coverage to meet their specific needs and budgetary constraints.
- Pet owners in areas where Lemonade operates: While Lemonade Pet Insurance may not be available in all locations, pet owners residing in regions where Lemonade operates can take advantage of its offerings.
Who shouldn't use Lemonade pet insurance?
- Individuals seeking extensive coverage: If a pet owner desires comprehensive coverage options that include a wide range of treatments, procedures, and services, they may find Lemonade's coverage options too limited for their pet’s needs.
- Pet owners with exotic pets: Lemonade primarily focuses on coverage for dogs and cats. Pet owners with exotic pets or species not typically covered by Lemonade may need to seek specialized insurance providers that cater to their specific needs.
- Individuals requiring in-person customer service: While Lemonade offers customer support through various digital channels, some pet owners may prefer or require in-person assistance for their insurance-related inquiries or concerns. In such cases, they may prefer insurance providers with physical locations or more extensive phone support options.
- Individuals in areas where Lemonade isn't available: Lemonade's services may not be available in all regions. Pet owners residing in areas where Lemonade does not operate would need to explore alternative insurance providers that offer coverage in their location.
- Sign up in seconds
- Get paid in minutes
- Get 5% Off for 2 or more pets
- Get 10% off when you bundle
- Get 5% off by paying annually
- Award-winning service
Lemonade Pet Insurance vs. competitors
While Lemonade is a great choice for pet owners and offers a wide variety of policies to choose from, it is a good idea to shop around and compare your options before you commit to one. Here are three pet insurance companies compared.
Veterinarian Coverage | Coverage Limit | Coverage for existing medical conditions | |
Lemonade Pet Insurance | U.S. only | $5,000 to $100,000 | No |
Spot Pet Insurance | U.S. or Canada | Several choices that range from $2,500 to unlimited | No |
Nationwide Pet Insurance | U.S. or abroad | $5,000 or unlimited, depending on the plan | No |
Spot Pet Insurance
With Spot Insurance, you can work with any vet in Canada or America and it will cover up to 90% of the cash back on your vet bills. It also offers a 24/7 Pet Telehealth Helpline for immediate medical help. You can enjoy a 10% discount when you insure multiple pets with Spot. The policies start at $9 per month for cats and $15 per month for dogs. However, it doesn’t offer policies if your pet has a pre-existing condition but will insure the pet if the injury or illness has been cured.
Nationwide Pet Insurance
With Nationwide Pet insurance, you are free to work with any veterinarian in the United States or abroad and the cost of your insurance will be based on the pet’s age. It offers a wellness plan, accidental coverage, and illness coverage. You can also save money on medications through the Nationwide PetRxExpress and enjoy 24/7 virtual pet advice via the VetHelpline.
FAQs
How do I file a claim with Lemonade Pet Insurance?
To file a claim with Lemonade Pet Insurance, you can typically do so through their online platform or mobile app. You'll need to provide relevant documentation, such as veterinary invoices and medical records, to support your claim. Lemonade aims to process claims quickly, often leveraging technology to expedite the process. The exact timeframe for claim processing may vary, but Lemonade strives to reimburse pet owners promptly.
Are there any restrictions on which veterinarians I can visit with Lemonade Pet Insurance?
Lemonade generally allows pet owners to visit any licensed veterinarian, providing flexibility and freedom of choice when it comes to selecting healthcare providers for their pets.
Does Lemonade Pet Insurance offer discounts for insuring multiple pets?
Lemonade does offer a discount of 5% when you insure multiple pets.
The bottom line
It's essential to thoroughly research and compare pet insurance providers, including Lemonade, to determine the best pet insurance for your needs and preferences. Additionally, reading customer reviews and seeking recommendations from other pet owners can provide valuable insights into the strengths and weaknesses of different insurance companies. Lemonade pet insurance can be worthwhile if you are looking for an affordable plan that can be managed online. It is easy to get a quote, file a claim and manage your policy.
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Writer
Vandita Jadeja is a financial writer and editorial assistant at Joywallet. She loves to read and write about money and brings 7 years of experience from the financial industry. She loves coffee, mountains and sunsets.
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