Trupanion vs Lemonade Pet Insurance: Comparing Two Of The Most Popular Pet Insurance Companies

This content was reviewed by our licensed insurance agent, Michelle Schenker.

To keep the lights on, we receive affiliate commissions via some of our links. Our review process.

Two dogs in lavender field (Caption: Trupanion vs Lemonade Pet Insurance Comparison)

Trupanion and Lemonade are two of the most commonly discussed pet insurance companies. Trupanion is one of the most recommended pet insurance providers by vets, and Lemonade is new to the pet insurance industry but is creating a lot of buzz with its AI-driven claim processing.

But is there a reason to choose one company over the other? Find out which company may be a better fit for your household.

Visit Trupanion’s Website | Visit Lemonade’s Website 

TrupanionLemonade
Policy CoverageMore LimitedMore Limited
Customer Service & ReputationExcellent, StableUncertain, New
Claim Processing Average5 Days2 Days
Price Of PolicyHigher On AverageLower On Average
Plan CustomizationsVery LimitedMany Options
Overall WinnerOrange X (No or Not)Brown checkmark (Yes)
 Visit WebsiteVisit Website

Policy Coverage

Dog under covers (caption: Policy Coverage Winner)

The table below shows what Trupanion and Lemonade cover. Note: Both companies cover emergency care, surgery and hospitalization, specialized exams and specialty care, X-rays, blood tests, ultrasounds, cat scans, MRIs, rehabilitation, cancer, chronic conditions, euthanasia, hereditary conditions, congenital conditions, non-routine dental treatment, and prescription medications. Neither covers pre-existing conditions, cremation and burial costs, pregnancy and breeding, or unnecessary cosmetic procedures.

TrupanionLemonade
Ranking In Our Pet Insurance ComparisonUnrankedBest Newcomer
Illness Waiting Period30 Days14 Days
Accident Waiting Period5 Days2 Days
Hip Dysplasia Waiting Period30 Days14 Days
CCL Surgery Waiting Period30 Days6 Months
Behavioral TherapiesBrown checkmark (Yes)Orange X (No or Not)
Alternative/Holistic TherapyOrange X (No or Not)Orange X (No or Not)
Wellness Care For An Extra FeeOrange X (No or Not)Brown checkmark (Yes)
Exam FeesOrange X (No or Not)Extra Fee
UnderwriterAmerican Pet Insurance CompanyLemonade Insurance Agency LLC
A.M. Best RatingUnratedUnrated

Lemonade comes out ahead because it offers coverage for wellness items and exam fees for an extra fee. Lemonade also has shorter waiting periods for illness, accidents, and hip dysplasia.

Both companies’ underwriters are unrated by A.M. Best (a measurement of financial stability). This means that neither company is considered more (or less) risky regarding the dependability of claim repayment.

Another key deciding factor for you may be the age restrictions attached to each of these companies. Trupanion doesn’t enroll pets older than 14 years old, while Lemonade has breed restrictions and plan restrictions for specific ages.

Additionally, Trupanion is available nationwide, whereas Lemonade is only available in 36 states and Washington, D.C. Because coverage is fairly comparable, both underwriters are unranked by A.M. Best, and Trupanion is available nationwide, Trupanion wins this category by a whisker.

Trupanion logo

The video below shares more about what makes Trupanion stand out.

Policy Coverage Winner: Trupanion

Customer Service & Reputation

Person holding phone next to dog (caption: Customer Service Winner)

Trupanion has a history of providing dependable coverage at a consistent price. There haven’t been any massive changes, which shows that you can count on things being fairly steady when you sign up for a Trupanion policy.

The same may or may not be true for Lemonade since it is newer. Lemonade may still be working out some kinks and figuring out what type of coverage and pricing it can offer its customers over time. It’s not uncommon for new entrants to go through many changes during the first five years of providing pet insurance, which can frustrate customers because they may experience drastic policy or price changes.

Trupanion logo

Trupanion also has an established customer service department that can help if you run into any issues with your policy.

Customer Service & Reputation Winner: Trupanion

Claim Processing

Doctor's office papers (caption: Claim Repayment Winner)

Trupanion says it will pay claims within 60 days but averages 5-day claim processing (the majority in 2 days). A 5-day claim process is considered good because most companies average fewer than 10 days. Additionally, you may be able to have Trupanion pay your vet directly, so you don’t have to pay a hefty vet bill in advance and wait for reimbursement. But this isn’t available everywhere, so check with your vet first to see if Trupanion Express is an option for you.

Lemonade Pet Insurance logo

On the other hand, Lemonade pet insurance averages two days for claim processing, which is among the fastest. Many of the claims submitted to Lemonade are paid via artificial intelligence, which is why it can process claims quickly. 

Claim Processing Winner: Lemonade Pet Insurance

Price Of Policy

Dog laying next to money (caption: Pricing Winner)

Trupanion requires a one-time enrollment fee of either $0, $25, or $35, depending on the state in which you live, but charges no transaction fees. On the other hand, Lemonade doesn’t have any one-time fees or recurring transaction fees.

Below are some pet insurance quotes we pulled in December 2021. All information is for pets without a microchip, no multi-pet discount, and no pre-existing conditions.

 BreedBirthdayGenderLocationDeductibleReimbursement %Annual PayoutPrice Per Month
TrupanionLabrador RetrieverApril 2017FemaleCalifornia (90024)$25090%Unlimited$231.45
Lemonade Pet InsuranceLabrador RetrieverApril 2017FemaleCalifornia (90024)$25090%$100,000$72.58
Trupanion40 lb Mixed BreedJanuary 2015FemaleIllinois (60604)$50090%Unlimited$142.36
Lemonade Pet Insurance40 lb Mixed BreedJanuary 2015FemaleIllinois (60604)$50090%$10,000$39.50
TrupanionAmerican Pit Bull TerrierJuly 2021MaleNew York (10012)$50090%Unlimited$121.83
Lemonade Pet InsuranceAmerican Pit Bull TerrierJuly 2021MaleNew York (10012)$50090%$100,000$44.83
Lemonade Pet Insurance logo

We like that Lemonade has more annual payout and reimbursement percentage options than Trupanion, allowing you the ability to adjust coverage based on your budget. On average, Trupanion offers some of the most expensive coverage, but it’s hard to compare apples to apples when Trupanion only gives you an unlimited claim payout option.

Price Of Policy Winner: Lemonade Pet Insurance

Coupons

Trupanion

Use this link to take advantage of the best possible price and get a quote for your pet from Trupanion. You can also visit our dedicated Trupanion promotions page to learn more.

Lemonade Pet Insurance

Lemonade offers the following discounts: 

  • 10% off if you bundle with your renters, homeowners, auto, condo, or co-op insurance
  • 5% off for multiple pets 

No promo code is needed. Use this link to take advantage of the best possible price.

Plan Customization

Several types of dogs sitting together (caption: Customize Plan Winner)

The other major differences between these two companies are the level of plan customization available and age restrictions.

Trupanion has unlimited payouts and 90% reimbursement for all plans. The only customization part of a Trupanion policy is the option of a $0 to $1,000 deductible. 

Lemonade pet insurance offers many customization options, however, it may be limited by the pet’s age and breed:

  • Annual payout options: $5,000, $10,000, $20,000, $50,000, and $100,000
  • Deductibles: $100, $250, or $500
  • Reimbursement: 70%, 80%, or 90%

Some breeds are ineligible for enrollment once they hit a certain age, but, like Trupanion, they don’t terminate pets’ coverage as they age.

Lemonade Pet Insurance logo

Overall, Trupanion has fewer customization options than Lemonade, which may make it more challenging to fit into your budget. In the end, Lemonade wins this category.

Plan Customization Winner: Lemonade Pet Insurance

What’s The Verdict?

Overall, Lemonade wins our comparison due to its AI claim processing, customized plans, and more affordable pricing. However, if you want a company with a more established reputation and coverage history, you should consider Trupanion.

Lemonade Pet Insurance logo

If you didn’t find what you were looking for, our experts dig even deeper into each company in our individual reviews of Trupanion and Lemonade Pet Insurance.

Overall Winner: Lemonade Pet Insurance

Our experts have spent hundreds of hours researching to bring you our comprehensive and frequently updated pet insurance reviews, including our top picks as well as details on each of the most popular pet insurance companies.

If you prefer to see winners by category, see our best pet insurance comparison. We give awards for the best price, multi-pet discounts, 100% reimbursement, unlimited payouts, and other “best for” categories, including puppies, older dogs, dental, wellness coverage, bilateral conditions, behavioral therapy, vet direct pay, and more. You’ll even see winners for exotic pets and cats.

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Disclaimer: Information regarding insurance company offerings, pricing, availability, and other contract details are subject to change by the insurance company at any time and are not under the control of this website. Information published on this website is intended for reference use only. Please review your policy carefully before signing up for a new insurance contract or any other contract as your unique circumstances will differ from those of others who may be used for example purposes in this article.

The information provided through this website should not be used to diagnose or treat a health problem or disease; it is not intended to offer any legal opinion or advice or a substitute for professional safety advice or professional care. Please consult your health care provider, attorney, or product manual for professional advice. Products and services reviewed are provided by third parties; we are not responsible in any way for them, nor do we guarantee their functionality, utility, safety, or reliability. Our content is for educational purposes only.

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