Pet Insurance

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

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Last Updated: April 30, 2024 | 5 min read | Leave a Comment

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

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2 brown dogs with snouts touching sitting in front of blooming cherry blossom trees on purple harnesses

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.

TrupanionLemonade
Policy CoverageLimitedLimited
Customer Service & ReputationExcellent, StableUncertain, New
Claim Processing Average2 Days2 Days
Price Of PolicyHigher On AverageAverage
Plan CustomizationsLimitedMany
Overall WinnerOrange X (No or Not)Brown checkmark (Yes)
Get Trupanion QuoteGet Lemonade Quote
 Compare QuotesCompare Quotes

Policy Coverage

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, burial costs, pregnancy and breeding, or unnecessary cosmetic procedures.

TrupanionLemonade
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)Extra Fee
Alternative/Holistic TherapyExtra Fee
Wellness Care For An Extra FeeBrown checkmark (Yes)
Exam FeesExtra Fee
CremationExtra 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 37 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.

Customer Service & Reputation

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

Claim Processing

Claim Processing Winner

Both Trupanion and Lemonade process claims within two days on average, which is among the fastest in the industry. They each have their own way of processing claims even faster.

Trupanion’s Vet Direct Pay allows them to pay your vet directly, so you don’t have to pay a hefty vet bill in advance and wait for reimbursement. This feature isn’t available everywhere, so check with your vet first to see if Trupanion’s Vet Direct Pay is an option for you.

On the other hand, Lemonade pet insurance pays many of the claims submitted via artificial intelligence. Lemonade’s AI is used for all policyholders, which can reduce the claim processing timeline to minutes. Because Lemonade’s AI is more widely accessible than Trupanion’s Vet Direct Pay, it wins this category.

Price Of Policy

Price of Policy 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.

Your premium price quote is based on your pet’s details (age, breed, location, etc.). We recommend obtaining quotes from each company for your specific pet. You can also visit our pet insurance comparison quotes to see a few sample prices we’ve gathered. 

Lemonade almost always came out less expensive than Trupanion in the quotes we’ve run. However, remember that it’s always best to get quotes for your specific dog to compare what pet insurance could cost for you. You can use our pet insurance quote form to get multiple company quotes when you complete this one-quick form.

Additionally, Lemonade has an annual deductible, whereas Trupanion’s deductible is per-condition and lifetime. An annual deductible is important if your pet experiences multiple accidents or illnesses during the policy period (one year). However, if your dog is subject to chronic conditions, like allergies, hip dysplasia, cancer, urinary tract infections, etc., then Trupanion’s per-condition deductible for the life of your pet may be a better choice.

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.

Coupons

Trupanion

Use this link to take advantage of the best possible price and get a quote for your pet from Trupanion.

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 
  • 5% off if you pay annually

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

Plan Customization

Plan Customization Winner

Finding a company that has the coverage you need and fits within your budget is a necessity. See what plan options you have below from each provider.

TrupanionLemonade
Deductible Options$0-$1,000$100, $250, or $500
Payout OptionsUnlimited$5,000, $10,000, $20,000, $50,000, $100,000
Reimbursement Options90%70%, 80%, or 90%
Optional Wellness PlanOrange X (No or Not)Brown checkmark (Yes)
Accident-Only PlanOrange X (No or Not)Orange X (No or Not)
Deductible TypePer-IncidentAnnual

With Lemonade, some breeds are ineligible for enrollment once they hit a certain age. Neither provider terminates pets’ coverage as they age.

One key difference between the two is that Trupanion has a per-incident deductible, which means each emergency will have its own deductible. This could result in more expenses for you. However, this could be beneficial for pets diagnosed with a chronic condition (e.g., diabetes, arthritis, cancer, etc.) because the pet parent only has to pay that deductible once during the pet’s lifetime as long as you maintain coverage.

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. But if you have a purebred, it may be worthwhile to consider Trupanion, as pedigrees are more susceptible to chronic conditions.

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.

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.

Our experts have spent thousands of hours researching to bring you our comprehensive and frequently updated pet insurance reviews, including our top picks, along with details on each of the most popular pet insurance companies. So, if you want to know how other providers compare against one another, you may find this review helpful in your pet insurance search.

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.

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.

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