Figo vs. Lemonade Pet Insurance

Both Figo and Lemonade offer comprehensive, customizable coverage and budget-friendly premiums. Their major differences lie in the exclusive bonuses provided by Figo and the limitations of where Lemonade policies can be used.

Figo vs. Lemonade

If you’re stuck between Figo and Lemonade, consider their primary differences to help make your decision:

	Figo	Lemonade
Deductible Options	Between $100 and $1,500	$100, $250, or $500
Reimbursement Options	70%, 80%, 90%, or 100%	60%, 70%, 80% or 90%
Wellness Add Ons?	Yes	Yes
Customizable Coverage?	No	Yes
Waiting Periods	1 day for accidents, 14 days for illnesses, 1 year for cruciate ligament events	2 days for accidents, 14 days for illnesses, 6 months for cruciate ligament events
Average Customer Review	1.1 to 3.6 out of 5	2.4 to 4.4 out of 5
Average Reimbursement Timeframe	2.6 working days	Almost instantly, longer if the claim is complex
Accepted By Every Vet?	Yes	No; Only accepted by licensed vets in 37 U.S. states
Pays the Vet Directly?	No	No

Coverage Comparison

Figo offers three standard plans — the Essential Plan, the Preferred Plan, and the Unlimited Plan. All three of these plans cover standard expenses, such as:

• Common illnesses
• Accidents
• Emergency care
• Hospitalization
• Diagnostic testing
• Hereditary conditions
• Chronic conditions
• Cancer treatment

Lemonade, on the other hand, only offers one standard plan that covers standard accident and illness-related expenses, such as:

• Diagnostic testing
• Emergency procedures
• Medication
• Inpatient and outpatient surgery

Both companies, however, provide several optional add-ons for greater coverage.

	Figo (Standard Plans)	Lemonade (Standard Plan)
Accidents	✓	✓
Illnesses	✓	✓
Emergency Care	✓	✓
Hospitalization	✓	✓
Diagnostic Testing	✓	✓
Hereditary Conditions	✓	✓
Chronic Conditions	✓	✓
Cancer	✓	✓
Hip Dysplasia	✓	✓
Euthanasia	✓	X
Prescription Pet Food	X	X
Prescription Supplements	X	X
Spaying/Neutering	X	X
Pre-Existing Conditions	X	X
Cosmetic Surgery	X	X
Alternative Treatments	X	X

Wellness Coverage

Figo offers three optional wellness add-ons, called  “Powerups,” each with different coverage:

• Wellness: Covers preventative care like vaccines, exams, dental care, and the cost to spay/neuter your pet
• Extra Care Pack: Covers the cost of cremation and burial, lost pet advertising and awards, pet theft or loss, boarding fees, and more
• Veterinary Exam Fees: Covers exam fees not covered by your standard plan

Lemonade offers five optional preventative care add-ons, which cover:

• Vet visit vees
• Physical therapy, acupuncture, and hydrotherapy
• Dental illnesses, cleanings, extractions, and other treatment
• Behavioral therapy (eg. anxiety and aggression)
• End of life and remembrance (eg. vet-recommended euthanasia and cremation)

With both plans, you can pick and choose between which add-on(s) you’d like along with your standard plan.

Age Restrictions

In some cases, pet insurance companies will exclude pets below or above a certain age from coverage. With Figo, pets under 8 weeks are not eligible for coverage, however, they do not have an upper age limit. Lemonade does not insure pets under 2 months old.

Customization/Flexibility

Both Figo and Lemonade are fairly customizable due to the variety of plans and optional add-ons they offer. When purchasing a policy with either, you’ll have the ability to choose the coverage, deductible, and reimbursement level that feel good to you.

Cost Comparison

Both Figo and Lemonade plans come with a deductible, reimbursement level, and annual maximum that impacts the premium you’d pay.

	Deductible Options	Reimbursement Levels	Annual Maximums
Figo	Between $100 and $1,500	70%, 80%, 90%, or 100%	Essential Plan: $5,000 Preferred Plan: $10,000 Unlimited Plan: No limit
Lemonade	$100, $250, or $500	60%, 70%, 80%, or 90%	Between $5,000 and $100,000

Here’s how rates for a male pet in Dallas, Texas would stack up against each other.

	Figo Preferred Plan, with a $10,000 annual limit, 80% reimbursement rate, and $200 deductible	Lemonade Accident + Illness Plan, with $20,000 annual limit, 80% reimbursement rate, and $250 deductible
8-week-old Labrador Retriever	$47.41	$85.27
8-week-old German Shepherd	$45.38	$83.79
5-year-old French Bulldog	$84.57	$136.55
5-year-old Poodle	$34.84	$84.96
Senior Golden Retriever	$91.85	$148.50
Senior Exotic Shorthair Cat	$53.56	N/A

Both Figo and Lemonade offer a 5% multi-pet discount. So, if you plan to insure multiple pets, you will land a bit of a discount regardless of which company you choose.

Enrollment, Waiting Periods, and Submitting Claims

Purchasing a policy with either insurance company is fairly easy — simply get a free quote on their website and follow the onboarding process from there. It’s important to note that Lemonade policies cannot be purchased over the phone.

Once enrolled, you’ll be subject to specific waiting periods, which are as follows:

	Figo	Lemonade
Injuries	1 day	2 days
Illnesses	14 days	14 days
Cruciate Ligament Events	1 year	6 months

Both Figo and Lemonade have easy claims processes, which are:

• Figo: Log into Figo’s Pet Cloud and select the Claims icon. Then, follow the prompts to complete the form, and upload the receipt from your vet visit.
• Lemonade: Open the Lemonade app and tap the “File a Claim” button. Then, follow the prompts to complete the process.

After submitting the claim with Figo, you’ll need to wait for reimbursement. They estimate that this takes close to 2.6 working days, on average. With Lemonade, they claim that reimbursement is made almost instantly. However, the more complex the claim, the longer it may take. The exact timeline for more complicated cases isn’t advertised.

Customer Reviews

Before purchasing a pet insurance policy, always read customer reviews from multiple sites. Here’s how Figo and Lemonade are rated across popular review websites:

	Figo	Lemonade
Trustpilot	3.6/5	4.4/5
Better Business Bureau	1.11/5	2.4/5
Yelp	3/5	Not Rated

Keep in mind that customers are more likely to report extremely positive and negative experiences, not average ones. So, these reviews might be inflated one way or the other.

Additional Differences to Consider

Sometimes, pet insurance companies will add in exclusive bonuses to add value to their policies. For example, Figo offers all policyholders access to their Pet Cloud, which gives you:

• 24/7 access to a vet
• An online community of pet parents local to you
• A place to store your pet’s medical records digitally
• Reminders for when “important pet stuff” is due
• A virtual claims assistant to guide you through the claims process
• A custom Pet Tag to track your pet’s location, allowing you to find them via the Pet Cloud if they’re ever lost or stolen

Lemonade, however, doesn’t offer this benefit or anything comparable. Additionally, it’s important to note that while Figo is available in all 50 U.S. states, Lemonade is only available in 37. 

Bottom Line: Which is Better?

The best pet insurance policy for you will depend on you and your pet’s needs. Both Figo and Lemonade offer comprehensive coverage, reasonable premiums, and similar features. Ultimately, one doesn’t necessarily top the other — it’s about which one you prefer as a pet owner.