This content was reviewed by our licensed insurance agent, Michelle Schenker.
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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.
|Policy Coverage||More Limited||More Limited|
|Customer Service & Reputation||Excellent, Stable||Uncertain, New|
|Claim Processing Average||5 Days||2 Days|
|Price Of Policy||Higher On Average||Lower On Average|
|Plan Customizations||Very Limited||Many Options|
|Visit Website||Visit Website|
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.
|Ranking In Our Pet Insurance Comparison||Unranked||Best Newcomer|
|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|
|Wellness Care For An Extra Fee|
|Exam Fees||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 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.
The video below shares more about what makes Trupanion stand out.
Policy Coverage Winner: Trupanion
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.
Customer Service & Reputation Winner: Trupanion
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.
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
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.
|Breed||Birthday||Gender||Location||Deductible||Reimbursement %||Annual Payout||Price Per Month|
|Trupanion||Labrador Retriever||April 2017||Female||California (90024)||$250||90%||Unlimited||$231.45|
|Lemonade Pet Insurance||Labrador Retriever||April 2017||Female||California (90024)||$250||90%||$100,000||$72.58|
|Trupanion||40 lb Mixed Breed||January 2015||Female||Illinois (60604)||$500||90%||Unlimited||$142.36|
|Lemonade Pet Insurance||40 lb Mixed Breed||January 2015||Female||Illinois (60604)||$500||90%||$10,000||$39.50|
|Trupanion||American Pit Bull Terrier||July 2021||Male||New York (10012)||$500||90%||Unlimited||$121.83|
|Lemonade Pet Insurance||American Pit Bull Terrier||July 2021||Male||New York (10012)||$500||90%||$100,000||$44.83|
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
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.
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.
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
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.
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.Tagged With: Reviewed By Insurance Agent