Best for Quick Claim Processing
Because pet insurance usually works via reimbursement — you pay the vet, submit a claim and the insurer sends you a check — it can take weeks to get your money back from many companies. And since vet bills can easily run to the thousands of dollars, waiting for a check can be frustrating at best.
Lemonade aims for quick claims processing. Through its app, you can submit claims and get reimbursed in minutes, not weeks, the company says. In large part because it offers such quick reimbursement, we selected Lemonade as one of the best pet insurance companies of 2021. Its policies are also relatively low in cost.
- Lemonade Pet Insurance Pros and Cons
- Lemonade Plans
- Lemonade Cost/Pricing Tier
- Financial Stability
- Customer Satisfaction
- How We Evaluated Lemonade Pet Insurance
- Summary of Money’s Lemonade Pet Insurance Review
Lemonade Pet Insurance Pros and Cons
- Fast processing of claims
- A portion of the payments goes to charity
- Multiple discount programs
- Multiple policies and riders available
- Not available in all states
- Coverage not available for some older pets
- Dental illness not covered for pets under two
- Policies can only be adjusted at renewal
- Policy information can be difficult to find
Fast processing of claims
As with most other pet insurance companies, Lemonade policyholders pay the veterinarian for diagnostic tests and treatments at the time of their visit and submit a claim to the insurer. But where that process can take up to 30 days with some companies, Lemonade promises quick claim processing, with most claims reimbursed in minutes, the company says.
A portion of your payments go to charity
Through Lemonade’s Giveback program, you select a charity to benefit from your business when you sign up for a policy. Once a year, Lemonade donates a portion of the money you and other customers paid to the selected charities. Lemonade says it donated over $2.3 million through the program in 2021.
Multiple policies and riders available
Some pet insurance companies have only a single policy, with no way to customize the coverage to your budget or pet’s needs. Lemonade offers multiple policy choices, including wellness plans and optional riders, so you can readily customize coverage to your needs.
Multiple discount programs
Most pet insurers, including Lemonade, offer a discount if you insure multiple pets. However, not all companies give you a price break for also buying other types of insurance from them. Lemonade discounts coverage by 10% if your pet policy is bundled with the company's renters, homeowners or car insurance. (There is also a 5% discount for paying the premium annually — which not all insurers offer, either.)
Not available in all states
Lemonade pet insurance policies are available in 36 states. If you live in a state where Lemonade doesn’t yet operate, you are ineligible for its pet insurance plans.
Coverage not available for some older pets
Although Lemonade doesn’t list an upper age limit, we found that Lemonade would not give quotes or issue policies to pets of some breeds that were aged seven or more. That’s a significantly lower age maximum than is imposed by many other pet insurance companies. The upper age limit is typically between ages 10 to 14.
Dental illnesses not covered in pets under two
Lemonade does not provide coverage for dental cleanings or the treatment of dental illnesses in pets under two years of age. Other pet insurance companies usually don’t have age restrictions for dental illness, as long as it’s not a pre-existing condition.
Policies can only be adjusted at renewal
If you want to change your policy, such as adjusting your deductible or reimbursement level, you must wait until the policy’s annual renewal date to make those alterations. With most other companies, you can adjust your coverage at any time.
Policy information can be difficult to find
Lemonade’s policy information is harder to locate on its website than those of some other companies. The different Lemonade plans aren’t listed under the main navigation. The only way to see the available options is to input your information when you request a quote; that is, you must submit the specific information about your pet before the plans and riders available to you are listed.
Lemonade offers both accident and injury insurance and preventative care policies.
Lemonade’s standard plan covers diagnostics and treatments of unexpected injuries and accidents in dogs and cats.
- Annual Maximum: $5,000 to $100,000
- Reimbursement Options: 70%, 80% or 90%
- Deductible: $100, $250 or $500
Like other pet insurance companies, Lemonade covers the following services:
- Blood tests
- CT scans
- Prescription medications
Preventative and Wellness
Lemonade has three preventative and wellness plans:
- Preventative: This package covers annual wellness exams, fecal or internal parasite tests, heartworm screenings, blood tests and up to three vaccines per year.
- Preventative+: Along with the coverages in the Preventative plan, Preventative+ includes coverage for flea, tick and heartworm medications and routine dental cleanings.
- Preventative Package for Puppies and Kittens: This plan is for young animals covers spaying and neutering, microchipping, up to six vaccines or boosters and two wellness visits.
Lemonade has two optional riders that you can add to your policy:
- Physical Therapy: This provides coverage for physical treatments like acupuncture and chiropractic care.
- Vet Visit: Lemonade makes coverage to visit the vet for eligible accidents or illnesses a small, add-on monthly cost.
Lemonade Costs/Pricing Tier
Lemonade was not part of our past price survey. In general, Lemonade’s quotes were on the lower end of the scale when compared to policies with the same deductibles and reimbursement levels from other insurers.
Below is a snapshot of the premiums you can expect from Lemonade based on quotes we requested for dogs and cats of various breeds and ages.
Rates quotes are for a pet owner in Philadelphia, PA, and are based on a $500 deductible, 70% reimbursement percentage and $10,000 annual benefit maximum. Your premiums may vary since, as with all insurers, rates are based on your pet’s breed, age and location.
Sample monthly pricing for dogs
|1 year old||5 years old||7 years old|
|Cocker Spaniel||$14.92||$19.83||Coverage not available|
Sample monthly pricing for cats
|1 year old||5 years old||8 years old (60% reimbursement)|
Lemonade offers the following discounts:
- Bundling: Receive 10% off your premiums when you bundle pet insurance with a Lemonade homeowners, renters or car insurance policy.
- Multiple Pet: Get 5% off when you enroll two or more pets.
- Annual Payment: Your premiums will be reduced by 5% if you pay annually rather than monthly.
Lemonade Financial Stability
Before picking an insurer and signing your policy agreement, finding out if the company is financially stable is a good idea. You can find out by checking the company’s financial strength ratings from credit rating agencies like AM Best or Demotech.
Although Lemonade hasn’t been rated by AM Best, it does have an “A” (Excellent) rating from Demotech.
Lemonade, like other insurance companies, has a blog with educational articles and an online quote tool. However, it doesn’t have an online chat feature like many other companies offer, and its customer service team isn’t available 24/7; they’re only available during Lemonade’s business hours.
Lemonade’s policies are available in 36 states: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, District of Columbia, Georgia, Illinois, Indiana, Iowa, Maryland, 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 and Wisconsin.
Customer service is available by phone at 844-733-8666. You can also email email@example.com.
You can reach customer support Monday through Friday from 9:00 a.m. until 8:00 p.m. EST. Customer support is not available on weekends.
For policyholders, Lemonade has a versatile app you can use to manage your account and submit claims. Claims submitted through the app are processed within minutes, the company says, and you could receive reimbursement before even leaving the veterinarian’s office.
Like most pet insurance companies, Lemonade only offers coverage for dogs and cats. Other animals, including birds, reptiles or horses, are not eligible for its plans.
Lemonade Customer Satisfaction
When it comes to customer reviews, Lemonade pet insurance has a good reputation. The company is not accredited by the Better Business Bureau, but it does have an above-average rating from customers. As of November 2, 2021, Lemonade's rating was 4.07 out of five, based on over 240 reviews. On TrustPilot, it has a 4.3 out of five rating based on nearly 200 reviews, which is “excellent.”
How We Evaluated Lemonade Pet Insurance
To evaluate Lemonade and its pet insurance policies, we considered the following factors:
- Typical premiums
- Plan options
- Reimbursement amounts
- Annual and lifetime caps
- Policy exclusions and restrictions
- Wellness benefits
- Customer support
- Customer reviews
- Third-party ratings
Summary of Money’s Lemonade Pet Insurance Review
Not everyone who may want to get Lemonade pet insurance will be able to do so. It’s only available in 36 states, and some older pets won’t qualify for coverage. But customers with eligible pets that live in one of the states where Lemonade operates can find competitively priced and customizable plans through the insurer.
Where Lemonade stands out from its competitors is its rapid claims processing. While other companies can take as long as 30 days to process claims, Lemonade typically processes them in minutes, it claims, getting you your money quickly. When you’re waiting for reimbursement for costly veterinarian bills, that’s a significant advantage.
On the other hand, there are better choices than Lemonade for owners of older pets. The company also has limitations on dental coverage for young animals, and in adjusting coverage in mid-year, that most other insurers do not impose.