Pet Insurance for Dogs & Cats by Lemonade (2024)

FAQs

Is Lemonade a reputable pet insurance company? ›

NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates financial strength, coverage options, customer experience, discounts and more. Lemonade earned 4 stars out of 5 for overall performance. The company sells pet insurance online through its user-friendly website and app.

Lemonade annual limit options include $5,000, $10,000, $20,000, $50,000 or $100,000. Higher coverage limits can provide peace of mind that you have coverage in case of a pet emergency but will increase monthly premiums.

Since Lemonade Pet works on a reimbursem*nt basis, you can visit your pet in any vet you like in the U.S., as long as they're licensed to provide veterinary care in the state they operate in.

Lemonade is an affordable insurance provider partially because it does not maintain a network of in-person locations like some of its competitors. It also uses largely AI-based underwriting processes, which can lead to savings on operations on staffing costs.

We at the Guides Home Team found that Lemonade stands out as one of the best homeowners insurance companies in the industry for its unique claim-filing process that uses a mobile app with artificial intelligence (AI) technology to process information and make payouts to homeowners seamlessly and hassle-free.

Yes, the cost of pet insurance typically increases as your pet ages.

The average pet insurance cost is about $56 per month for dogs and $32 per month for cats for the most common type of policy.

The remaining money from your premiums is put aside to pay out claims, and if there's funds left over, we donate it to charities you care about, via our Giveback program. This unique business model means that we have no financial interest in denying your claims, and we'll never fight over the same coin.

How Long Do Lemonade Pet Claims Take? The company says it aims to pay simple claims instantly. However, some claims will take longer to settle, and sometimes the company will require more information if a claim form isn't complete. According to our research, the average claim turnaround time was 12 to 18 days.

Preventative care plan

Lemonade's Preventative care plans start at $10 per month for cats and $16 per month for dogs. Additional coverage offered includes: Blood test. Fecal or internal parasite test.

Who owns Lemonade pet insurance? ›

About the Company

Lemonade Insurance was founded in 2015 by current CEO Daniel Schreiber, Shai Wininger, and Ty Sagalow.

The typical waiting period is 14 days, particularly for illness coverage. Some pet insurance providers have a waiting period of only a few days for accident coverage. Hereditary conditions such as hip dysplasia typically have much longer waiting periods — up to a year.

At Lemonade, our policyholders tend to pay their premium once a month, starting on the date they purchased a policy. For example, if you get insurance on December 5th, you'll be automatically charged on the 5th of every month!

Risks that are unique: Lemonade has to exclude certain types of homes, pets, and cars because the risks involved are unique. For example, homes that are rented out for short-term stays are a larger liability and theft risk since they are often unoccupied.

The process for terminating your Lemonade Insurance policy is simple. There are easy steps to follow if you decide to cancel online, through the app, over the phone, or via email. Log in, go to your policy, and confirm that you want to end it — that's it!

About Lemonade

We offer hassle-free renters (contents), homeowners, car, pet, and life products in the US and Europe. Lemonade is a fully licensed and regulated insurance company, which means that we underwrite, price, and sell policies, as well as handle and pay claims.