If you prefer to manage your life from your smartphone, Lemonade is your breed of pet health insurance. Lemonade offers competitive accident and illness coverage and promises not to break the bank with policies starting at $10 per month, with annual limits up to $100,000. Does that deal sound too sweet? Let’s pour over the details, and take a closer look at what Lemonade has to offer.

Recognizing the Thirst for Pet Coverage

Lemonade began as a homeowner, life, and rental insurance provider in 2016. After the company recognized that 70% of their policyholders were also pet owners—and only 2% of U.S. pets were insured—they launched Lemonade Pet Health in 2020. Although the insurer is young enough to still have puppy breath, Lemonade is a fully licensed and regulated insurance agency committed to reenvisioning the industry business model with Lemonade Giveback, a program that gives unused premiums to customer-selected charities. 

Calculating the Cost

Lemonade boasts policies starting at $10 per month, but reminds customers that premiums are higher for dogs, and are calculated based on breed, age, and location. This means your pet’s quote will probably be more than $10 per month, on par with other companies in the market. 

Lemonade offers deductible options (i.e., $100 to $500), a choice of reimbursement (i.e., 70 to 90%), and a wide annual limit range (i.e., $5,000 to $100,000). Incentives include a 10% discount for bundling existing Lemonade policies, a 5% annual reward, and a 5% multi-pet discount. 

Lemonade is not currently available in every state—check their coverage map, to see if your pet is eligible.

Pet Qualifications

Lemonade’s website does not specify any age or breed restrictions, but does limit their coverage to cats and dogs. After policy purchase, your pet’s record is reviewed for pre-existing conditions.

Waiting periods on average are two days for accident coverage, 14 days for illness, and six months for cranial cruciate ligament injury. Preventive packages can be used right away. As with other companies, events that occur during your pet’s waiting period are considered pre-existing conditions, and will not be covered.

Hand-Pick Your Pet’s Coverage with Lemonade

Lemonade’s policy menu can be a bit confusing. To maintain affordable premiums, they offer a rather basic accident and illness policy that lacks some services found in competitors’ similar policies. Lemonade offers two policy options, including:

  • Accident and illness
  • Extended accident and illness — Coverage of the vet visit, and physical therapy packages, is added

Five add-on options are available, including two preventive care package levels, a puppy and kitten preventive package, a vet visit fee add-on, and a physical therapy add-on.

Refreshing Peace of Mind 

Lemonade’s accident and illness policy hits all the major pet health needs—as long as they’re not pre-existing. Coverage includes emergency and specialty care, hospitalization, surgery, illness, chronic disease, cancer, illness- or accident-related diagnostics and imaging, and medication.

Sour Notes: Policy Exclusions

Lemonade is upfront in admitting that their policy is not comprehensive. To maintain fair and affordable coverage, the following conditions and services are not included:

  • Pre-existing conditions
  • Preventable illness
  • Bilateral conditions
  • Prescription diets 
  • Experimental treatments
  • Alternative medicine (i.e., herbal therapy, homeopathy)

The following services are covered only through add-on packages:

  • Exam and consultation fees 
  • Physical therapy
  • Dental cleaning (i.e., no extractions)
  • Spay or neuter procedures — Available only in the puppy or kitten packages for pets up to 2 years old

Easy-Squeezy Claim Filing and Reimbursement

Perhaps Lemonade’s greatest claim to fame is its sleek, AI-driven app that provides “instant everything,” and allows customers to apply and receive coverage in minutes, customize their policy, file claims, and check reimbursement status—which may be alarmingly fast, as this customer found:

“Wow. Just filed a claim with @Lemonade_Inc and got paid in literally seven seconds.” 

While Lemonade’s methods are ultra-convenient, some consumers may be turned off by the app-only claim filing. Additionally, Lemonade reimburses policyholders only through direct deposit, meaning customers must provide the company with their personal bank account information and access.

Lemonade Takes a Glass Half-Full Approach to Pet Insurance

Overall, Lemonade is a solid pet insurance choice for owners who prefer a mobile-based service with flexible coverage and pricing options, and a charitable mindset. Be forewarned—the Lemonade website can be vague, and relevant information seems scattered. Hint—check the FAQ and blog pages. Review your sample policy closely, and research carefully before deciding on a policy for your pet.

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Information as of 6/30/22