2024 Lemonade Pet Insurance Review and Pricing

Lemonade Pet Insurance is a unique player in the insurance industry, offering a range of policies including pet health, auto, home, and life insurance since 2015. Unlike traditional insurance providers, Lemonade is a full-stack insurer, meaning they handle everything from selling and pricing policies to administering and underwriting them. Additionally, Lemonade is a registered public benefit corporation, or B-corp, which means they take a flat fee from premiums to run the business, pay out claims, and donate the remaining funds to charities.

MarketWatch Guides has given Lemonade a rating of 4.8 out of 5 stars, making it their top overall pet insurance pick and naming it the cheapest provider for dogs. One of Lemonade’s standout features is its low and flexible pricing, as well as its use of artificial intelligence (AI) for customer service. They also offer comprehensive wellness benefits. However, it’s important to note that Lemonade’s plans may not include certain coverages that other providers offer as standard benefits, requiring customers to pay extra for these additional coverages.

Customer reviews for Lemonade are mixed, with some praising the company for its affordable rates and user-friendly app, while others have had negative experiences with claims processing and customer service. Lemonade operates in 37 U.S. states and Washington D.C., so availability may be limited depending on your location.

In terms of cost, Lemonade offers a standard accident and illness policy that averages around $41 per month. Coverage costs $52 per month for dogs and $29 for cats, which is lower than the national average for pet insurance costs. Lemonade also offers three preventive care plans that provide partial reimbursements for routine care services, such as vaccines, diagnostic testing, dental care, and spay or neuter surgery.

When it comes to coverage, Lemonade’s base accident and illness plan covers a range of health issues and treatments for unexpected injuries or illnesses. They also offer optional wellness plans and add-ons to enhance coverage, such as vet visit fees, physical therapy, behavioral conditions, dental illness, and end-of-life care.

Customers have the option to customize their coverage levels by choosing from various deductibles, reimbursement rates, and annual limits. Lemonade also enforces waiting periods for coverage to begin, with two days for accidents, 14 days for illnesses, and six months for cruciate ligament injuries. Age restrictions may also apply based on the breed of your pet.

Overall, Lemonade Pet Insurance is a recommended choice for budget-conscious pet owners due to its affordable pricing and customizable coverage options. While there are some limitations and mixed customer reviews, Lemonade’s unique approach to insurance and commitment to charitable giving make it a compelling option for pet owners looking for cost-effective coverage.