Spot vs. Lemonade Pet Insurance: Pick the Best Pet Protection 
Updated November 16, 2023.
Pet ownership comes with financial responsibilities. According to USA Today, the initial cost of dog ownership ranges between $475 and $4,000. But unforeseen emergencies, injuries, or illnesses can add significantly to these costs. As the American Veterinary Medical Association (AVMA) points out, these unexpected events could lead to higher expenses for diagnosis and treatment. This is precisely where a pet insurance policy could prove valuable.
Choosing the right pet insurance can make a huge difference in your furry friend's life and your wallet. So how do you make this critical decision? We're here to help you compare two of the popular options: Spot and Lemonade Pet Insurance.
We'll provide you with a detailed analysis of both of these pet insurance providers, making it easier for you to choose what's best for your pet's needs.
Here's what we'll examine:
- What they cover
What They Cover
What an insurance policy covers depends on the type of plan you purchase.
Spot offers three coverage categories: accident & illness, accident-only, and preventative care. Accident & Illness coverage covers exam fees for conditions like cancer treatment, dental conditions such as gum disease, and tooth extractions due to accidents. This is usually known as a comprehensive or standard pet insurance policy. Accident-only coverage covers your pet for swallowed foreign objects, broken bones, toxin ingestion, surgery, and hospitalization due to accidents.
Spot pet insurance does not cover pre-existing conditions, routine dental care, or spaying and neutering. However, it does offer an optional add-on policy that does cover those expenses. The Optional Preventive Care Coverage pays fas spaying or neutering, dental teeth cleaning, and wellness exams. Spot offers two types of add-ons:
- Gold preventative care coverage: Covers a portion of deworming, dental cleanings, vaccines, and yearly wellness exams.
- Platinum preventive care coverage: In addition to services covered by the Gold plan, it pays for expenses like blood tests, core vaccines, flea prevention, and spaying/neutering.
Lemonade provides a comprehensive pet insurance policy covering diagnostics tests, procedures, prescription medication, treatments, emergency care, and surgeries for accidents or illnesses. It covers hereditary and congenital conditions, diabetes, hip and elbow dysplasia, hernias, eye disorders, ear infections, and cancer. Lemonade policies do not cover pre-existing conditions. Only treatments for illnesses that develop after you purchase a policy will probably be covered.
Lemonade pet insurance offers optional Preventative Care packages that save money on routine wellness care, such as vaccines and spaying or neutering. Lemonade optional add-ons for your policies include:
- Vet visit fees: These may change when you bring your pet in for illnesses or accidents
- Dental disease: Tooth extractions, root canals, treatments for gingivitis
- Behavioral conditions: Vet-recommended therapy and medication for aggression
- Physical therapy: Or acupuncture to help your pet through the recovery process
- End of life and remembrance: Vet-recommended euthanasia, cremation, and commemorative items
Did You Know?
Many pet insurance policies don't cover preventative care, such as vaccines or flea treatments, but both Spot and Lemonade offer these as additional options.
» Check out our list of best pet insurance providers in the US
A deductible is the cost you're responsible for before insurance reimbursement begins.
Spot Pet Insurance offers annual deductibles ranging from $100 to $1,000.
On the other hand, Lemonade offers a more budget-friendly range of annual deductibles, from $100 to $500. This is great if your pet needs frequent treatment.
Is Lemonade Pet Insurance Worth It?
Lemonade is worth checking out if you want pet insurance at a low monthly cost. Thanks to their competitive rates, they are an affordable pet insurance provider.
Reimbursement is the percentage of covered expenses a pet insurance company pays you back after the deductible is met. Most pet insurance plans have an 80% to 90% reimbursement rate.
Spot offers 70%, 80%, or 90% reimbursement rates.
Spot pet insurance does not pay the vet directly. Instead, you pay your vet bill and submit your claim to the insurance company. Claims can be submitted through the mobile app or on the website. After that, Spot will send a direct deposit to your account or mail you a reimbursement check. If you'd like to appeal a claim, you'll have to submit your request in writing.
Lemonade matches Spot's offering with 70%, 80%, or 90% reimbursement rates.
Reimbursement claims are processed through Lemonade's app, making for a quick claim filing option. To file a claim with Lemonade pet insurance, you upload an invoice with a detailed description of your pet's situation and a receipt onto the Lemonade app. After reviewing your claim, the funds will be sent directly to your bank account.
Tip: Always review the policy's fine print for exclusions. It's important to know what's not covered before you need to file a claim.
» Learn why pet insurance is a worthwhile investment
Make the Right Choice for Your Pet's Future
Being a responsible pet owner means taking care of your pet's health. Both Lemonade and Spot offer pet insurance policies that can help safeguard your pet's health, but Lemonade stands out with its discount offerings for routine care, a variety of optional add-ons, and a shorter waiting period for accident coverage. Currently available in 37 states, Lemonade seems to provide a more accessible and flexible choice for many pet owners.
However, the ideal choice for pet insurance depends on your unique needs and budget constraints. Take time to review your options carefully and make an informed decision that best serves your pet.