Lemonade vs. Figo Pet Insurance: What Sets Them Apart

Introduction

Pet insurance isn’t just about peace of mind; it’s about making sure your pet can get the care they need without putting your finances at risk. As veterinary costs rise, having the right coverage can help you avoid tough decisions during emergencies or chronic illnesses. Lemonade and Figo are two well-known providers offering flexible insurance plans, but they take different approaches when it comes to policy structure, pricing, and customer experience.

This side-by-side comparison explores how Lemonade and Figo stack up across important categories like annual coverage limits, deductibles, reimbursement rates, and add-on options. You’ll also see how each company handles claims, customer service, and cost-saving opportunities. Whether you prioritize affordability, extensive coverage, or human support, this section will help you make an informed choice based on your pet’s health needs and your financial goals.

Lemonade vs. Figo Pet Insurance

Coverage and Policy Structure

Both Lemonade and Figo offer plans that include diagnostics, surgery, hospitalization, and medications. Lemonade allows coverage up to $100,000, but many services require add-ons. Figo includes broader protections in its core policy and even covers alternative care without needing extras.

Coverage Costs and Care

Choosing the right pet insurance can help protect your finances and your pet’s well-being. This comparison outlines how Lemonade and Figo differ across coverage, costs, support, and more.

Financial Options and Plan Value

Figo provides a wider range of deductibles, including a diminishing deductible that reduces over time. Figo also offers a 100% reimbursement option, while Lemonade caps at 90%. Although Lemonade’s base price can be lower, its many add-ons may increase the total cost. Figo’s all-in-one style may provide better long-term value for high-need pets.

Claims Processing and Support Experience

Lemonade uses AI to approve half of claims instantly, appealing to users who prefer fast, app-based service. Figo supports a blend of automation and human service, ideal for those who want to talk to a person, especially in emergencies.

Add-Ons and Customization

Lemonade’s extras cover things like wellness, dental illness, and behavioral support. Figo’s Powerups go further, including vet exams, chronic care, and rehab, often bundled in their add-on suite.

Discounts and Savings Opportunities

Figo’s multi-pet and Costco discounts can lower costs significantly. Lemonade’s bundling option benefits those already using their renters, auto, or home policies.

Common Exclusions in Both Plans

Neither provider covers elective procedures, grooming, breeding, or experimental treatments. Pre-existing conditions are excluded unless curable and symptom-free for 12 months (Figo) or 1 year (Lemonade, excluding knees).

Trends in the Pet Insurance Market (2025)

• The industry is expected to exceed $10 billion in value.
• AI and telemedicine use are expanding rapidly.
• Consumers want more personalized policies and wellness-focused options.
• Awareness about the benefits of pet insurance continues to grow.

Final Takeaways on Lemonade vs Figo Pet Insurance

Both Lemonade and Figo deliver strong pet insurance options tailored to different user preferences. Lemonade is better suited for those who want app-first convenience and digital service. Its customizable structure works well for budget-conscious users who enjoy managing plans via smartphone.

Figo appeals to those who want extensive base coverage, especially for long-term conditions or high-risk breeds. Its human-first support and wellness “Powerups” provide added reassurance. Figo may cost more up front, but its inclusive features can deliver better value over time.

Comparing quotes based on your pet’s needs, breed, and age will help you make the best decision. Each plan brings strengths worth considering in today’s evolving pet insurance market.

Frequently Asked Questions

Does either provider cover hereditary conditions?

Yes. Both companies cover hereditary and congenital conditions unless they were pre-existing. These conditions are part of their base illness coverage, and the pet must not show symptoms prior to enrollment. It’s important to provide full medical records when signing up. Always confirm coverage terms in writing before finalizing your plan.

Can I use any veterinarian?

Yes. Lemonade and figo both allow policyholders to visit any licensed vet within the U.S. This offers freedom when traveling or relocating. After your visit, just submit the claim via app or email. Reimbursement times depend on your chosen provider and coverage level.

What are the waiting periods?

Lemonade requires 2 days for accidents, 14 days for illnesses, and 6 months for cruciate issues. Figo has a 1-day accident, a 14-day illness, and a 6-month orthopedic waiting period. Both may waive the 6-month wait with a vet exam early in the policy. These waiting times align with industry standards but still warrant checking.

How can I cancel my policy?

Lemonade lets users cancel through their app at any time, with no added steps. Figo requires an email, phone call, or written request for cancellation. Depending on the billing cycle, you may be eligible for a refund. Always confirm cancellation and refund details before ending coverage.