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Lemonade Summary
Lemonade was founded in 2016 as an insurance provider offering home, car, and renter’s insurance and started selling pet insurance in 2020. As an independent provider, and licensed and regulated insurance company, Lemonade underwrites its own policies and handles all policyholder claims in-house.
Lemonade offers a single pet plan that covers accidents and illness. They also offer coverage for vet fees and alternative care (acupuncture and chiropractic) at an extra cost. Overall, Lemonade is one of the least expensive pet insurance options on the market, offering both plan customization and low monthly premiums.
Lemonade has a mission to contribute to the social good through its Lemonade Giveback Program. Lemonade takes a flat fee, uses it to pay claims, and gives what’s left over to charities chosen by you, the policyholder. That means there’s no conflicting interests between the policyholder and the insurance company, which leads to higher customer satisfaction.
Pros
- Comprehensive Coverage
- Affordability
- Fast Claims Process
Considerations
- Only Available in 35 States
- Lengthy Quote Process
- No Coverage Options For Pets Over 14 Years
Overview
Charitable Contributions
One of our favorite features about this company is its public benefit-based model, which means that charities get donations when pet parents shop with Lemonade for their pet insurance coverage. Lemonade takes a flat rate of every purchased policy and donates anything not used for a claim to a non-profit selected by the policyholders. This is definitely a feature worth highlighting.
Detailed Price Quotes
Another feature worth mentioning is the impressive price quotes offered through the Lemonade website, which are quite in-depth. Although the quote request process may take a bit longer, once you complete it, you will receive a full explanation of the pet insurance plan available to you, including several customizable features and optional add-ons. This is great for pet owners who want to build a policy that will work the best for their furry family members.
Customization
In addition to affordable and easy-to-understand price quotes, Lemonade also offers a great deal of customizability to pet parents who are shopping for a pet insurance plan. With each price quote, you can adjust the level of coverage as well as the reimbursement percentage, annual deductible, and annual maximums. In addition to this, you can also customize the policy further with any available add-ons. This is a great benefit for shoppers who want to have more control when comparing coverage and those who like to tailor their pet insurance to meet the unique needs of their pets.
Customer Satisfaction
Another benefit of shopping with Lemonade pet insurance is positive customer reveiws. This is an important consideration, especially if you value customer feedback when deciding whether to shop with a particular company. Even though Lemonade is still new to the pet insurance industry, it already has a good reputation among its pet insurance policyholders for its quick claims service, ease of use, and convenient mobile app.
Why Pet Insurance?
Having Pet Insurance for your furry family members helps protect you from unexpected costs and allows you to access top-notch veterinary care without worrying about costs. Accidents happen — dogs swallow things they shouldn’t, cats land on their paws wrong, even your pets’ seasonal allergies can cause large veterinary bills. Pet insurance mitigates those costs, saves you money, and gives you peace of mind.
Key Advantages of Pet Insurance
- A variety of plan options
From minimum to comprehensive, there is as much variety in pet health insurance as there is in human health insurance. No matter your budget, you’ll be able to find some sort of financial coverage. Plans can cover accidents, illnesses, behavioral issues, preventative care, hereditary conditions, and more.
- All veterinarians included
While some carriers have in-network benefits, it’s more common for pet health plans to be network-free. You can bring your pets to any licensed veterinarian, pay the bill, and get reimbursed for your covered expenses.
- Peace of mind
Veterinary bills are often expensive. Especially if your furry family member needs emergency care or surgery. Pet insurance provides peace-of-mind, knowing you can give your best furry friends the healthcare they deserve no matter what.
- Helps prevent unnecessary euthanasia
2 out of every 3 pets euthanized each week are done solely due to the financial burden of care.*** Pet insurance helps cover the costs of expensive surgeries and illnesses. When faced with the impossible decision to pay for care or euthanize, having pet insurance in place can make the difference. Plus, by being able to better afford comprehensive healthcare regularly, pets stand a better chance of living longer, healthier lives.
