Bundle your auto, home or renters insurance for additional discounts.
Founded in 2015, Lemonade is currently considered one of the fastest-growing insurance companies in America, with year-over-year growth of 1,800%. The company offers top consumer insurance products like life, home, auto and pet - but, what makes Lemonade so special?
The company's goal is to make finding insurance products "less evil". Their straightforward quoting process and user-friendly interface certainly help, but the company's underlying mantra is community first. This means that they focus on community and environmental endeavors. This can be witnessed through Lemonade Giveback, where Lemonade pays out any unclaimed premiums to charities at the end of each year (they do keep a fixed amount of premium each year as a profit).
Lemonade claims to be cheaper than many of the legacy carriers in many cases. Keep in mind that all insurers have their own underwriting standards, so this may not always be true. Pet insurance prices will vary based on your pet's age, breed, health factors and the area in which you live.
In terms of benefits, Lemonade's online platform is top-notch, and their annual donations to charity are notable. You may also be eligible for discounts if you currently use Lemonade for another type of insurance. Score!
Lemonade is not currently able to offer pet insurance in all states, so this might be a dealbreaker for you depending on where you live. Lemonade currently offers pet insurance in the following states: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, District of Columbia, Georgia, Illinois, Indiana, Iowa, Maryland, Michigan, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin.
Lemonade offers multiple types of pet insurance plans. The base policy will help cover treatments related to accidents and sickness. The company also offers packages that help cover preventative care and ongoing wellness. There are also add-ons to increase your pet's coverage in the event of a major accident or illness.
As mentioned above, the base dog insurance policy offered by Lemonade will be used to cover diagnostics and treatments for accidents and illnesses. This means that if your dog escapes your yard and is involved in a car accident, the policy would help cover items like surgery and medications associated with the incident. If you want coverage for ongoing wellness items, like dental cleaning, you'll need to purchase additional coverage.
When you receive a quote from Lemonade, review the policy for coverage amounts and what is included in your policy. If you need additional coverage, look at the available add-on products. If you still feel like your pet isn't going to be adequately covered, or the price becomes too high, we recommend using a pet insurance aggregator, so you can compare multiple quotes and coverage levels.
Another item worth noting is dog attacks. A common misconception is that pet insurance will cover you against claims from a third party if they are bitten by your dog. This is not accurate, and pet insurance coverage is more akin to health insurance. If you're concerned that your dog may be at-risk for biting someone, ensure you have adequate coverage through your home or renters policy (and don't forget that Lemonade can help you with a renters' policy if you don't currently have one.)
Like with Lemonade's dog policy, the base policy for cats is for illness and diagnostic care. If you're looking for coverage for big ticket optional items like dental cleanings or flea medication, be sure to take a look at the preventative care packages.
Users of the underbelly of the internet (Reddit) have consistently commented that their Lemonade quotes have been some of the lowest rates available. Wandering over to twitter (@Lemonade_Inc) reveals a similar story. Low prices and fast customer service.
There have been comments that the claims process is slow, so if you're not comfortable carrying an expense and getting reimbursed later, Lemonade's slow review process might be a yellow flag.
Getting a quote is easy and can be completed in as little as 2 minutes online. You'll need to submit some basic information about your pet in order to get your policy documents. Once you review your quote and select your add-on options, you can bind your policy by submitting payment. All quotes are completed online.
If you haven't figured it out by now, Lemonade is an online first company. Claims can be filed quickly by opening up your Lemonade app and choosing the claim button. From there, you'll be guided through the process of filing a claim. If eligible, claims will be paid through your designated bank account.
Overall, Lemonade is a promising option. If you're interested in a low rate, online process or if you're already an existing Lemonade insurance customer, Lemonade pet insurance might just be what you're looking for.
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