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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.
| Trupanion | Lemonade | |
|---|---|---|
| Policy Coverage | Limited | Limited |
| Customer Service & Reputation | Excellent, Stable | Uncertain, New |
| Claim Processing Average | 2 Days | 2 Days |
| Price Of Policy | Higher On Average | Average |
| Plan Customizations | Limited | Many |
| Overall Winner |  |  |
| Get Trupanion Quote | Get Lemonade Quote | |
| Compare Quotes | Compare 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.
| Trupanion | Lemonade | |
|---|---|---|
| Illness Waiting Period | 30 Days | 14 Days |
| Accident Waiting Period | 5 Days | 2 Days |
| Hip Dysplasia Waiting Period | 30 Days | 14 Days |
| CCL Surgery Waiting Period | 30 Days | 6 Months |
| Behavioral Therapies | | Extra Fee |
| Alternative/Holistic Therapy | Extra Fee | |
| Wellness Care For An Extra Fee | | |
| Exam Fees | Extra Fee | |
| Cremation | Extra Fee | |
| Underwriter | American Pet Insurance Company | Lemonade Insurance Agency LLC |
| A.M. Best Rating | Unrated | Unrated |
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. 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 petsÂ
- 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.
| Trupanion | Lemonade | |
|---|---|---|
| Deductible Options | $0-$1,000 | $100, $250, or $500 |
| Payout Options | Unlimited | $5,000, $10,000, $20,000, $50,000, $100,000 |
| Reimbursement Options | 90% | 70%, 80%, or 90% |
| Optional Wellness Plan | | |
| Accident-Only Plan | | |
| Deductible Type | Per-Incident | Annual |
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 Winner
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.
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