Lemonade Pet Insurance Review

Overview

Known for offering high-quality home insurance, Lemonade is a modern solution to a common concern and their reasonable rates and high-tech approach has made them a popular choice among homeowners and renters. But it is their latest venture into pet insurance that also has customers talking, as Lemonade uses the same super-fast process to get your pet covered faster and for less than almost all of its competitors. Whether you’re looking to protect your cat or dog in case of accidents or illness, Lemonade can provide you with comprehensive coverage that will help pay for medical emergencies if and when your furry friend needs it.

Every pet owner knows just how truly expensive vet care can be, and those costs can mount up over the course of your pet’s lifespan. With Lemonade, however, you can eliminate a large portion of what you would traditionally have to pay, meaning you can focus on getting your dog or cat healthy, without the added stress of the financial impact. As this Lemonade Pet Insurance review will highlight, there are a number of benefits to opting for a good insurance plan, and both your pet and your wallet will thank you for making that decision ahead of time.

What Is Pet Insurance and Why Do I Need It?

It’s no surprise that owning a pet comes with a long list of expenses that you are responsible for. From feeding to grooming, treats and toys, you can end up spending a fair amount each month on your beloved companion. But one cost that new pet owners tend to forget about is the surprise vet bills that will crop up over the course of your dog or cat’s lifetime.

When you bring home that new puppy the last thing you’re worrying about is what kind of illnesses or accidents it will experience, but the truth is, virtually all pets end up needing to see a vet at some point and those bills are rarely cheap. This is why pet insurance is such a worthwhile investment. Protecting you from having to cover the full amount of vet bills out of pocket, pet insurance, like what Lemonade offers, helps to cover those costs and leaves you responsible for a fraction of the total.

With pet insurance you don’t have to weigh out whether or not you can afford treatment, and instead, can get your pet the help they need right away. Eliminating a lot of the stress and worry that comes along with sudden accidents or illnesses, you can instead focus on helping your cat or dog feel better quickly and receive high-quality treatment and necessary medications.

Lemonade makes pet insurance easy by using an AI-driven system that makes it quick and easy to purchase a policy, and resolve claims. No lengthy applications or endless calls and appointments, you can simply apply online and within minutes know what kind of coverage you are eligible for and how much you can expect to pay monthly. Affordable and hassle-free, Lemonade breaks away from traditional insurance models and is transparent and upfront about what they offer. No complicated terms of agreement or confusing contracts, everything is explained plainly so you know what you are covered for as well as what is excluded. This is just part of why more pet owners are turning to Lemonade for affordable pet insurance.

How Does It Work?

Lemonade is both fully licensed and regulated, which means they are the one’s actually responsible for your policy. From underwriting to paying out claims, Lemonade handles all aspects of your insurance policy so you don’t have to work with any other companies for any part of your plan. Additionally, unlike other insurance companies, they only take a flat fee for themselves and then put the rest aside for claims, so Lemonade won’t delay the reimbursement process simply because they want to keep your money. The best part? Unclaimed money is donated to a cause you pick when you sign up (including several pet-centric charities like PAWS and ASPCAI).

So how exactly does the whole process work?

To get started with Lemonade you simply need to download their app or visit their website. Everything is completed online, and they use a tech-driven system in order to process your enrollment quickly and easily. No days spent wondering if you’ve been approved, you can enjoy a real quote in only minutes.

The sign-up process requires some information about your pet, such as their age and breed, as well as your details like who you are and where you live. None of the questions are overly intrusive, and all information you input is completely confidential. Once you have filled out all of the necessary questions, you will then be shown the projected amount you will pay in monthly premiums and you can choose whether or not you are interested in any of their add-ons.

After you’ve been approved and submitted your pet’s medical records, there isn’t anything left to do until your pet becomes sick or injured, at which point you will then go to your vet and enjoy financial protection for any approved costs that are related to your coverage. Following your appointment, you will then begin the claim process right from the app on your phone, and within no time at all be reimbursed for all eligible claims. The reimbursement amount will be directly deposited into your bank account, so you never have to wait around for a check to arrive in the mail. And just like that, your pet is healthy and happy without you having to drain your savings.

What Does Lemonade Cover/Exclude?

Like most pet insurance companies, Lemonade covers costs that are related to accidents or illnesses experienced by your cat or dog. An accident could be anything from being hit by a car to falling and breaking a bone, while illness covers things such as sudden vomiting or diarrhea, as well as serious problems like cancer or diabetes. When something like that occurs, you can then visit your vet and be eligible to have specific costs associated with that visit reimbursed back to your bank account. Eligible costs can include things such as:

●  Diagnostics & Testing: Blood tests, X-Rays, Labwork, CT Scans, and more

●  Procedures: Surgery, Hospitalization, Outpatient Care, and more

●  Medications: Prescriptions and Injections

Not only does Lemonade cover accidents and illnesses, but they also will cover you for chronic conditions, as well as congenital and hereditary problems. This means you aren’t limited to just a sudden case of limping, and instead, may be protected if that limping is associated with a long-term condition like hip dysplasia or arthritis, or anything that starts after you purchase your policy. Before visiting the vet, however, it is important that you read through your policy carefully so you are fully aware of what is and isn’t covered since it can depend on your specific situation and it is best to be informed instead of trying to guess about your actual coverage..

Before you can file a claim, you will need to make sure that you have a full medical exam on file. Lemonade requires a medical record that includes info that covers the last 12 and a half months of your pet’s life (this includes the 14 day illness waiting period on your policy). If your pet is less than a year old, the medical record should include info from birth through the illness waiting period. This will help Lemonade know the health of your pet up to that point, and will also highlight any pre-existing conditions. Like with all insurance providers, pre-existing conditions are not eligible for coverage and if your pet had specific problems before you enrolled, you will be fully responsible for any costs relating to that going forward. Other examples of things not covered by your Lemonade policy will include:

●  Preventable situations or issues resulting from neglect

●  Elective cosmetic procedures

●  Conditions related to breeding or pregnancy

You will be able to find a full list of exclusions inside your own policy. A sample policy is available through the Lemonade website, as well, which breaks down both what is covered as well as what is excluded in greater detail.

Additional Packages

Each Lemonade policy comes with the same basic outline for what is covered and what is excluded, but pet owners have the ability to add on additional coverage if they so choose. Additional coverage is by no means mandatory, and it is simply available if you are interested in expanding what you are eligible for in terms of reimbursement.

Lemonade offers a number of Preventative Care packages that help save you money before your pet is involved in an accident or becomes ill. Covering many of the annual procedures that are recommended to keep your dog or cat healthy and happy, here’s what these packages can help you cover:

Preventative Care:

• 1 Annual Wellness Exam
• 1 Heartworm Test or FeLV/FIV Test
  
• 3 Vaccines or Boosters
  
• 1 CBC/Chem Blood Test
  
• 1 Fecal or Internal Parasite Test
  

Preventative+:

• 1 Annual Wellness Exam
• 1 Heartworm or FeLV/FIV Test
  
• 3 Vaccines or Boosters
  
• 1 CBC/Chem Blood Test
  
• 1 Fecal or Internal Parasite Test
  
• Flea, Tick or Heartworm Medication
  
• Routine Dental Cleaning
  

Puppy/Kitten:

• 2 Annual Wellness Exams
• 1 Heartworm Test or FeLV/FIV Test
  
• 6 Vaccines or Boosters
  
• 1 CBC/Chem Blood Test
  
• 2 Fecal or Internal Parasite Tests
  
• Microchipping
  
• Flea, Tick or Heartworm Medication
  
• Spaying or Neutering Procedure
  

How Much Does It Cost?

One of the things that pet owners love about Lemonade is that they offer comprehensive coverage and flexible add-on packages, all at affordable monthly prices (prices start at just $10 a month!). Unlike other companies that charge high premiums in order to get a policy, Lemonade focuses on making their insurance the best value for money so more pet owners can take advantage of their services and more pets can visit the vet when they need to.

As for how much a policy through Lemonade will cost you, it really depends on what you are looking for as well as what kind of pet you have. Premiums are based on a number of unique factors, and there is no generalized pricing information since it can vary depending on where you live, the size of your pet, and the age of your cat or dog. However, you can get a free quote quickly via the Lemonade website or app which will give you a more accurate idea of what you can expect to pay.

Once you have your policy, you will then be responsible for paying your monthly premiums, as well as covering your annual deductible and co-insurance amount. The annual deductible will be the amount you need to pay out of pocket each year before your insurance coverage kicks in, and this will be an amount you choose between $100, $250, or $500. As for the co-insurance amount, this is the percentage of the total bill cost that Lemonade covers and the percentage that you still need to pay. Your policy will allow you to select whether Lemonade pays for 60%, 70%, 80%, or 90% of the total bill, meaning you only need to worry about the smaller, remaining percentage.

The percentages and deductibles you ultimately choose will impact your monthly premium, so it’s best to visit the Lemonade website and find out your quote. From there, you can play around with the numbers until you find the perfect policy for you, one that covers all of your needs and fits your budget.

Bottom Line

Owning a pet can bring an immense amount of joy into your life, and their boundless love and endless devotion makes all of the extra expenses worth it. This is why you want to make sure you have them covered in case of an emergency and can afford to get them the help they need if they are involved in an accident or become ill. It’s nearly impossible to own a pet and not end up in the clinic at least a few times throughout the years, and those bills can be extremely costly when they do happen. Instead of worrying about how you will pay for that, or resorting to draining your savings when the time comes, let Lemonade take care of you and your furry friend when you need it most.

Lemonade offers affordable policies that protect against accidents and illness, as well as Preventative Care and add-ons. To learn more about what they offer, or to find out what they can offer you, check out their website or app today and see why more pet owners are choosing Lemonade for their insurance needs. Instant quotes and hassle-free service, Lemonade will change the way you think about pet insurance.