Lemonade Pet Insurance Review: Affordable, Customizable Coverage

This pet insurer is a good fit for: Pet owners looking for affordable, customizable coverage.

Lemonade Pet Insurance Snapshot

Pricing
Lemonade's costs are well below the typical health insurance premiums charged for cats and dogs.

Discounts

Lemonade provides a bundled coverage discount for pet owners who buy other insurance with the company, including renters or homeowners and car insurance coverage. A multi-pet discount is also available. And owners can save by paying premiums annually.

Perks
Lemonade offers some of the lowest premiums in the industry. And coverage can be customized. The waiting period for coverage is also shorter than with many competitors.

Customer Service

Customer reviews are mixed. Some pet owners report an easy online claims process. Others indicate they believe their claims were denied improperly.

Top perks

Low premiums

Lemonade offers some of the lowest premiums of any pet insurance company. The company's affordable policies can be made even cheaper by taking advantage of discounts for bundling coverage, insuring multiple pets, or paying premiums annually.

Choice of coverage options

Pet owners can choose several add-ons to a base plan. These include coverage for vet visits when an accident or illness occurs. Another add-on offers coverage for preventative care. There is also a choice of coinsurance or deductible amounts. Owners can choose 60%, 70%, 80%, or 90% reimbursement rates. And they can select a deductible of $100, $250, or $500.

What could be improved

Exam fees could be included in the standard policy

Lemonade's base plan does not include a vet exam, even for covered services. To get coverage for an exam an animal needs due to an illness or injury, it's necessary to purchase Vet Visit Fees coverage for an additional cost.

Lemonade provides affordable cost of pet insurance for dogs and cats. Average premiums are well below most competitors. There is also a choice of deductibles and coinsurance costs, including the option to have just a $100 deductible.

If you want a pet insurer who offers broader coverage: Nationwide offers coverage to birds and exotic animals, while Lemonade only covers dogs and cats. But keep in mind that Nationwide premiums are likely to be higher.

This plan offers coverage for illnesses and injuries. It pays for:

• Diagnostics: This includes coverage for blood tests, lab work, MRIs, ultrasounds, CT scans, and other services needed to identify issues.
• Procedures: Hospitalization, surgery, outpatient care, and emergency care are among the covered procedures.
• Medications: Both injectables and prescriptions are paid for.

Vet Visit Fees

This is an add-on to the base plan. It comes at an additional cost. If it is added on to a policy, it will pay for the fees that a vet charges when an animal has an appointment due to a covered accident or illness.

Preventative Care

It's possible to add on preventative care packages. There are several options. These include a base plan that pays for some routine services such as an annual wellness exam, vaccines, and blood testing. The upgraded preventative care package adds on even more services such as routine dental care.

Bundling discount

Pet owners who bundle their coverage and get other insurance from Lemonade can score a 10% discount. Other types of insurance Lemonade offers include homeowners insurance, car insurance, and life insurance.

Multi-pet discount

Insuring multiple pets with Lemonade comes with savings. A 5% multi-pet discount is available.

Annual discount

Pet owners who pay their premiums annually can get a 5% discount.

Lemonade enables pet owners to sign up for coverage online within minutes. However, medical records must be provided for covered pets. The records must include a visit that took place no more than a year from the time that the pet's coverage will begin. The exam must be a nose-to-tail exam and the vet's notes must be provided.

Lemonade provides coverage for dogs and cats only.

Lemonade is not accredited by the Better Business Bureau. The insurer received 3.71 out of a possible 5 stars in customer reviews on the BBB website. Some customers described their customer service as "magnificent" while others reported problems getting claims covered.

Lemonade is best suited for people who:

• Have multiple cats or dogs and qualify for the multi-pet discount
• Are looking for the lowest premiums possible
• Want to customize coverage

But pet owners may want to consider Trupanion if they want an insurer that pays claims directly to vets, or Nationwide if they want an insurer that offers coverage for exotic animals.