03/10/2022

Pet Care

Care They Need, Love They Deserve

Lemonade vs Trupanion Pet Insurance: Pros, Cons & Verdict | Pet Keen


It’s just as important to select the right pet insurance company for your furry friends as it is to select the right insurance company for your own medical care. Lemonade and Trupanion are both popular pet insurance companies, and both of them provide a variety of plans and options to help you find the perfect plan to meet the needs of your pets.

Since both of these companies are highly trustworthy, we’re going to compare them to each other to help you pick which one you feel will work best for your needs. To do this, we’ll look at what types of plans they offer, deductibles and reimbursements, and the additional perks of each.

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A Quick Comparison (2022 Update)

Company Name Lemonade Trupanion
Pets Covered Dogs, cats Dogs, cats
Types of Plans Basic accident and illness, vet visit fees, preventative care, physical therapy, dental coverage, end-of-life care Basic accident and illness, recovery and complementary care, pet owner assistance
Deductibles $100–$500 $0–$700
Reimbursement 70%–90% 90%
Additional Perks Annual vs monthly payments, bundling discounts, multi-pet discounts Direct vet clinic payouts

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Brief Overview of Lemonade

lemonade in-content

Lemonade is a company that offers coverage to dogs and cats of all breeds and ages. Their services are restricted to people who live in one of more than 30 US states, but they provide coverage for vet visits in any part of the United States as long as your pet sees a vet who is licensed to operate in the state they see your pet in.

They offer basic plans, as well as a wide variety of additional plan types that can be added to a basic plan. Lemonade also offers other services, like homeowner’s insurance, car insurance, and renter’s insurance, allowing you to simplify your life by carrying multiple services through a single company.

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Brief Overview of Trupanion

trupanion pet insurance logo

 

Trupanion is a company that offers coverage to dogs and cats of all breeds and ages. Their services can be used anywhere in the United States, as long as the vet you’re seeing is licensed to operate in the state they’re seeing your pet in. They do not cover vet visits outside the US.

They offer basic plans with a handful of add-on options, but they do offer fewer plan add-ons than Lemonade does. This company does only focus on pet insurance, which can be comforting for many people who feel that focusing on a variety of products can lead to confusion and lack of focus for a company.

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Lemonade vs Trupanion: Plans Available

Like all pet insurance companies, Lemonade and Trupanion both offer basic pet insurance plans that cover accidental injuries and illnesses. Both have restrictions on pre-existing conditions and have similar waiting periods before your coverage becomes “live” after signing up. Any injuries or illnesses that occur during the waiting period may not be covered. Understanding the coverage of each basic and add-on plan can help you select the best options for your needs.

Lemonade

  • Base Accident and Illness: This plan covers diagnostic tests, procedures, and medications that are not related to pre-existing conditions or preventative care. This includes hospitalization, surgical procedures, MRIs, emergency care, and prescriptions.
  • Vet Visit Fee Add-On: For a small monthly fee, the vet visit fee is covered for each visit not related to a pre-existing condition or preventative visits. This includes office visit fees, emergency visit fees, and consultations.
  • Physical Therapy Add-On: The physical therapy add-on option helps cover recovery care after an illness or injury. It includes alternative therapies as well. This plan add-on is recommended for breeds that are prone to joint and back problems. Coverage includes procedures like acupuncture, hydrotherapy, heat therapy, laser therapy, and chiropractic care.
  • Dental Illness Add-On: The dental illness add-on option helps cover dental-specific procedures and problems. It’s recommended for breeds that are prone to developing periodontal disease, although all dogs may develop dental problems as they age. This add-on plan covers procedures like crowns, root canals, and dental surgeries, as well as dental diagnostic tests, gingivitis, periodontal disease, and prescriptions related to dental care. This add-on plan only covers up to $1,000 of services.
  • End-of-Life & Remembrance: The end-of-life and remembrance add-on plan helps cover charges related to the end of your pet’s life up to $500. Euthanasia, cremation, and memorial items are covered, but funerals and burial expenses are not covered.
  • Preventative Care: Preventative care is not included in the base plan offered by Lemonade. The preventative care add-on comes in an option that is recommended for adult dogs and an option that is recommended for puppies. This add-on plan helps cover expenses related to vaccinations, heartworm testing, wellness exams, internal parasite testing, and some diagnostic lab work. The puppy plan includes the coverage of more visits, diagnostic tests, and vaccinations than the adult plan, as well as covering spay/neuter procedures, microchipping, and flea/tick medications.
vet checking up dog with a catheter
Image Credit: RossHelen, Shutterstock

Trupanion

  • Base Accident and Illness: This plan covers accidents and illnesses that are not related to a pre-existing condition or preventative or wellness visits. This includes diagnostic tests, hospitalization, surgical procedures, and prescription medications.
  • Recovery and Complementary Care Add-On: The recovery and complementary care add-on plan cover physical therapy and alternative therapies to help your pet make a recovery after an illness or injury. This includes behavior modification, chiropractic care, homeopathy services, hydrotherapy, and naturopathy.
  • Pet Owner Assistance Add-On: The pet owner assistance add-on plan is unique in that it helps cover expenses related to your own problems. If you’re hospitalized, it will help pay boarding fees for your pet. It can also help with vacation cancellation costs related to your pets, cremation or burial related to death resulting from an accident and liability coverage for third-party property damage.
cat at vet with owner and veternarian
Image Credit: 4 PM production, Shutterstock

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Lemonade vs Trupanion: Reimbursements and Deductibles

Lemonade and Trupanion both offer a variety of deductibles, allowing you to choose one that fits your budget. Only Lemonade offers reimbursement options, while Trupanion has a set reimbursement percentage that is consistent between plans and deductibles.

Lemonade

Lemonade offers reimbursement percentages between 70%–90% reimbursement, and you can set the annual maximum paid by Lemonade between $5,000–$100,000, depending on how much you’d like to pay per month. They offer three deductible options of $100, $250, and $500.

woman filling up pet insurance form
Image Credit: Rawpixel.com, Shutterstock

Trupanion

Not only does Trupanion offer three baseline deductibles of $0, $200, and $700, but it also allows you to set your deductible between $0–$1,000. All care is covered at a 90% reimbursement rate. If your vet has the Trupanion software, then Trupanion can pay your vet clinic directly at 90% of the total cost instead of you having to wait for reimbursement payment. They don’t have annual payout limits, so you don’t have to worry about going over your maximum annual payout from Trupanion.

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Lemonade vs Trupanion: Additional Perks

When it comes to the extra perks offered by a pet insurance company, they can be a great benefit on top of having flexible and comprehensive coverage. Extra perks may not be the deciding factor for you, but knowing what you can expect can help you make a decision.

Lemonade

Lemonade wants to reward you for bundling add-on plans with your basic care coverage. For existing Lemonade customers, they offer a 10% discount when adding bundles. They also offer a 5% multi-pet discount. They offer a discount for paying your premiums annually instead of monthly, discounting the total by 5%.

feeding cat
Image Credit: Dora Zett, Shuterstock

Trupanion

Trupanion’s biggest extra perk is that they can offer direct payments to vet clinics that have their software. This allows you to avoid paying vet visits out of pocket, instead only paying your deductible at these visits. Without direct vet payments, you may be stuck paying an entire bill out of pocket and waiting for approval and reimbursement.

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Lemonade vs Trupanion: Summary of Pros and Cons

It’s a tight race between Lemonade and Trupanion. Both companies offer high-quality care coverage with add-on plan options and adjustable deductibles to help you customize your coverage based on your budget and needs. Let’s compare the pros and cons of both companies.

Lemonade

  • Multiple plan add-ons available
  • Affordable deductibles
  • Adjustable reimbursement rates
  • Can be paid annually or monthly
  • Discounts for bundles and multi-pet plans
  • Not available for residents of every state
  • Annual maximum coverage limits

Trupanion

  • Focuses only on pet insurance
  • Pet owner assistance add-on plan option
  • Adjustable deductibles between $0–$1,000
  • 90% reimbursement rate
  • No annual maximum coverage limits
  • Direct vet clinic payment option
  • Fewer add-on options
  • Only one reimbursement rate
  • No wellness or preventative care coverage

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Company Verdict: Which One Has the Edge?

Customer Service

Lemonade and Trupanion are both highly reviewed when it comes to customer service. Both companies have customer service agents who are willing to walk you through the insurance lingo that can make choosing pet insurance confusing and difficult. They offer online customer service chat functions, as well as telephone customer service.

costumer service worker
Image Credit: Bojan Milinkov, Shutterstock

Price of Plans

When it comes to plan pricing, Lemonade comes out on top because of its flexibility of plan options. They not only offer a variety of deductible pricing options, but they also allow you to adjust your reimbursement rate. This allows you to decide if you’d prefer to spend more out of pocket every month or at each visit.


Areas of Coverage

Lemonade beats out Trupanion when it comes to their coverage options. They offer more add-on plans to help you get coverage for a variety of types of care. They also offer wellness plans and dental care plans, which are not offered by Trupanion. While Trupanion does offer a unique pet owner assistance add-on plan, Lemonade offers coverage related to end-of-life services for your pet.

couple with a dog getting a pet insurance
Image Credit: Drazen Zigic, Shutterstock

Perks

As much of a benefit as the plan discounts offered by Lemonade can be, Trupanion comes out on top with perks. The discounts offered by Lemonade are relatively small discounts that are unlikely to make a notable difference in your monthly payments. Trupanion’s offer to pay your vet directly allows you to keep more money in your pocket at the time of services and keeps you from having to wait on reimbursements.

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Conclusion

Between Trupanion and Lemonade, both companies provide competitive options for pet insurance coverage for dogs and cats. Overall, we prefer Lemonade because they offer more cost and add-on options to meet a variety of needs. They also offer wellness and dental add-on plans, which Trupanion doesn’t offer. Trupanion does offer direct vet payments for clinics that have their software, keeping more money in your pocket, but this direct payment option doesn’t apply to clinics that don’t have the Trupanion software. Both companies offer great customer service and coverage in their basic plans.

Quoted from Various Sources

Published for: WATPFC