Lemonade vs Trupanion vs ASPCA
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A good pet insurance policy can keep your pet care costs low and ensure your animal receives proper treatment. These policies cover emergencies and also help you save money on regular check-ups. Lemonade, Trupanion, and ASPCA are some of the top pet insurers. This guide will explore what each company offers, along with the pros and cons. That way, our pet insurance reviews will help you decide which is right for you.
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About each brand
Lemonade
Lemonade has been offering insurance policies since 2015 and has many positive reviews in the App Store and Google Play. The company has 73,000 App Store reviews averaging 4.9 stars and 16,000 Google Play reviews averaging 4.4 stars.
Policyholders have short waiting periods before protections start. Some highlights include a 2-day waiting period for accidents, a 14-day waiting period for illnesses, and a 6-month waiting period for cruciate ligament events. You can get coverage the day after purchasing a preventative package instead of waiting two days, five days, weeks, or months. It also offers wellness plans that help lower the cost of vet visits.
The insurer offers a 5% multi-pet discount and also offers other insurance policies. Lemonade can fulfill many of your insurance needs, streamlining your coverage for multiple risks. It offers instant quotes and strives to provide incredible prices for its customers.
Lemonade covers policies for renters insurance, homeowners insurance, auto insurance, pet insurance, and term life insurance.
Trupanion
Trupanion has been offering pet insurance plans since 1998. Unlike Lemonade, which offers several insurance products, it's a specialized insurer. The American Pet Insurance Company underwrites the policies.
The insurer promises to pay vet bills directly within seconds and offers unlimited payouts for life. It’s easy to get a quick quote on the company’s website. Trupanion has an average rating of 4.2 stars on Trustpilot across more than 6,800 reviews.
More than one million pet owners use Trupanion to insure their pets. The company has paid more than $2 billion in vet bills and other pet-related expenses that qualify under the policy. Unlike other pet insurers, Trupanion pet insurance does not increase your rates or reduce coverage just because you file a claim.
Trupanion offers coverage for breed-specific conditions and hereditary conditions. This means you can save money on preventative care treatments for your pet.
ASPCA Pet Health Insurance
ASPCA has been serving animals since 1866 and opened up its insurance division in 2006. The insurer offers a generous 10% multi-pet discount and lets you work with any licensed veterinarian in the United States or Canada.
ASPCA also offers a 30-day money-back guarantee for its pet health insurance policies. You can only receive money back during these 30 days if you did not file a claim. The money-back guarantee is not available in New York and varies in Maine.
Pet owners can receive up to 90% cash back from their vet bills. The company offers several policies and add-ons that can give you the customization that you need for your pet. Complete Coverage is the company’s most popular plan. It includes accidents, illnesses, dental diseases, hereditary conditions, behavioral issues, and alternative therapies.
You can also use an Accident-Only coverage plan as a more affordable alternative. You can also add Preventative Care Coverage to your plan for cash back on procedures like spaying, neutering, and dental cleanings.
- 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
Key features
Lemonade
- Qualifying vets. Policyholders can work with any licensed vet in the United States. Lemonade will cover the costs.
- 1-day waiting time. A preventative care policy only has a 1-day waiting time for coverage that can take days, weeks, or months from other insurers.
- Quick claim approval process. Lemonade uses artificial intelligence to approve claims within minutes, allowing you to receive funds faster.
- Younger pets. You can find customized policies for younger pets if you compare Lemonade policies.
- Coverage. You can save a lot of money on preventative care check-ups, treatments, and tests. Policyholders also get coverage for prescription medications, procedures, and diagnostics.
Trupanion
- Coverage. Trupanion offers coverage for several incidents, such as allergies and hospital stays. However, the insurer also offers coverage for hereditary and breed-specific conditions. Not every pet insurance provider offers that level of protection.
- Get paid directly at checkout. You don’t have to wait days or weeks for an insurance company to respond to your claim. Trupanion pays the vet directly at checkout, which can save a lot of frustration.
- No rate increases due to age. Trupanion will not raise your premiums as your pet gets older. The insurer also doesn’t set higher premiums if you have to file a claim.
- No breed restrictions. You don’t have to worry if your pet is the right breed. Trupanion serves all pet breeds. Not every insurer offers this level of flexibility.
ASPCA Pet Health Insurance
- Complete Coverage. Save money on various vet expenses.
- An alternative plan that’s more affordable. Accident-only coverage doesn’t offer as much protection as Complete Coverage, but it has lower monthly premiums.
- Submit claims quickly. It’s possible to submit a claim before you leave the veterinary clinic.
- Multi-pet discount. Save 10% for each additional pet.
- High cash back. You can receive up to 90% reimbursement with an ASPCA Pet Health Insurance plan.
- 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
Summary of Lemonade, Trupanion, and APAC
Company | Veterinarian Coverage | Coverage Limit | Coverage for existing medical conditions | Multi-pet discount |
Lemonade | U.S. only | $5,000 to $100,000 | No | 0% |
Trupanion | U.S., Canada, and Puerto Rico | None | No | None |
ASPCA | U.S. or Canada | $10,000 | No | 10% |
Lemonade
The insurer does not offer insurance for Shih Tzus or Beagles. Getting a quote is quick, but ensure your pet is covered.
Trupanion
A 10-year-old female Shih Tzu in a 18098 zip code will have a $193.05 monthly premium. Trupanion offers more coverage than most insurers but also has some of the highest premiums in the industry. The policy has a $200 deductible and uncapped payouts. Trupanion covers 90% of your veterinary bill. The Shih Tzu owner in this example can pay an additional $39.27/mo for Recovery And Complementary Core. Pet Owner Assistance is another add-on that comes to $4.95/mo. Raising the deductible will reduce your monthly premiums. However, you will have to pay more out of pocket if you opt for the higher deductible. The maximum deductible is $1,000 for a Trupanion policy.
ASPCA Pet Health Insurance
A 10-year-old female Shih Tzu with the 18098 zip code comes to $57.51/mo for a Complete Coverage policy and a $16.59/mo premium for an Accident-Only policy.
These policies have $2,500 annual limits and 70% reimbursements. You will also have to pay a $250 annual deductible before the ASPCA covers most of your vet bills. Before getting a policy, you can adjust the limit, reimbursement options, and annual deductible. Making any adjustments will impact your monthly premium.
Pros and cons
Lemonade pros and cons
Pros
- Quick claims process
- 1-day waiting time for coverage if you get the right policy
- Multi-pet discount
- Additional policies are available for other areas of your life
Cons
- Does not work with older pets
- Does not offer coverage for every breed
Trupanion pros and cons
Pros
- Premiums do not increase if you file a claim or as your insured pet gets older
- Instant payments
- Great coverage
- Trupanion covers 90% of the vet bill after you pay the deductible
Cons
- Does not let pet owners create new policies for pets that are 14 years or older
- Expensive premiums
ASPCA Pet Health Insurance pros and cons
Pros
- Flexibility with the deductible, annual coverage limit, and reimbursements
- Ability to choose the more affordable Accident-Only coverage if you need to save money
- Work with any licensed vet in the U.S. or Canada
- Deductibles as low as $100 and reimbursements as high as 90%
- 10% multi-pet discount
Cons
- Preventative care is not covered unless you get an add-on
- Cosmetics procedures are not covered
FAQs
Is Lemonade pet insurance legitimate?
Lemonade is a legitimate insurance company that has been around since 2015. The insurer offers term life insurance, homeowners insurance, renters insurance, auto insurance, and pet insurance. The insurance company is a publicly traded corporation that trades under the ticker symbol LMND.
Are Lemonade claims instant?
Some Lemonade claims are instant thanks to the company’s artificial intelligence technology. While many claims get resolved right away, it can take up to two weeks for other policyholders.
Does Lemonade let you work with any vet?
You can work with any licensed veterinarian in the United States and still receive coverage through your Lemonade insurance policy. You aren’t limited to any list of vets that's approved by the insurer.
Is Trupanion legitimate?
Trupanion is a legitimate pet insurance company that has been offering policies for more than 25 years. The insurer has served more than 1 million pet owners and has paid out over $2 billion so far.
Why do vets recommend Trupanion?
Vets recommend Trupanion since the company’s policies can offer financial coverage if your pet endures an injury and needs immediate attention. While this argument applies to any pet insurance provider, Trupanion has some of the best coverage options available. The insurer will also pay up to 90% of your vet bill’s total expense after accounting for the deductible.
Can you cancel Trupanion anytime?
Pet owners can cancel their Trupanion policies at any point if something doesn’t work out. You can give Trupanion a call at 1-888-733-2685 to go through the process and cancel your policy. Trupanion’s customer service is available 24/7.
Is ASPCA Pet Health Insurance legitimate?
ASPCA Pet Health Insurance is a legitimate company that operates under the ASPCA corporate umbrella. The nonprofit was founded in 1866 and has been around for more than 150 years.
Does ASPCA Pet Insurance increase with age?
ASPCA will raise the premiums as your pet gets older to compensate for the greater risk and the possibility of more frequent check-ups and procedures. It is common for pet insurance companies to charge higher premiums after renewal as your pet gets older.
How much of vet bills does ASPCA Pet Health Insurance cover?
ASPCA Pet Health Insurance covers 70% to 90% of your vet bills. You can choose the reimbursement amount when you open a policy or renew your existing policy. A higher
reimbursement will result in a higher premium.
- 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
The bottom line
A pet insurance policy can make it more financially feasible to help your pet with routine check-ups and emergencies. It can prevent money from getting in the way of important emergency care for your pet.
While insurance policies add an extra layer of protection for your pet and your finances, comparing several insurers before choosing the best pet insurance policy is important. Applying for multiple insurance policies allows you to compare rates, terms, and coverage to see which is right.
ASPCA, Trupanion, and Lemonade have been offering pet health insurance policies for several years. These three insurers can serve as good starting points on your quest to find the right insurance policy for your pet.
It’s better to get an insurance policy for your pet when it’s healthy compared to when the bills start to pile up. Most pet insurance firms do not work with animals that have pre-existing conditions. It’s more optimal for a pet to end up with a condition while it is insured, so you get some help with your vet bills.
The best pet insurance companies offer flexibility so you can choose the right amount of coverage for your pet and end up with a reasonable premium. Insurance policies only take up a small portion of most people’s budgets, and you can save money if you regularly take your pet to the vet.
Pet owners with insurance policies may even feel more inclined to give their pets the right healthcare at all times. Do remember to check the inclusions and exclusions of the policy before you buy one. You can save money at the vet and have extra financial protection in case something happens. While pet parents prefer not to use their policies for emergencies, it’s good to have them. Even if you don’t have to use it for emergencies, it’s helpful to have it for vet visits.
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Writer
Marc Guberti is a business freelance writer who specializes in personal finance, digital marketing, and entrepreneurship. His award-winning book "Content Marketing Secrets" teaches readers how to create, promote and optimize content for growth and revenue. Marc also hosts the "Breakthrough Success Podcast," where listeners learn how to master content marketing and get more clients.
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