Lemonade vs Nationwide Pet Insurance

Lemonade vs Nationwide Pet Insurance

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Good and affordable pet health insurance is hard to come by, and it takes a lot of research to find the insurance provider that best fits the needs of a pet and its pet parent. Depending on your pet’s age and health issues, high vet bills may be the trigger to have you searching for health pet insurance to reduce the costs.

Lemonade_Pet_Insurance

One of the best-ranked pet insurances nowadays is Lemonade.

5/5
Nationwide Insurance

Nationwide includes the comprehensive benefit option.

4.4/5

Lemonade and Nationwide Pet Insurance are worth considering as both have high-ranking reputations among pet insurance companies. They offer plenty of benefits, each having its advantages over the other. 

We dug a little deeper and looked into several features that distinguish them. We reflected on coverage plans, limits, deductibles, waiting periods, and more. Keep reading to learn more about these two top-rated pet health insurance companies nowadays. 

A Comparison of Lemonade and Nationwide

Nationwide pet insurance is a veteran in the pet insurance industry and has become one of the world’s largest insurance companies. Nationwide stands out among other providers for the possibility of insuring exotic pets, extending its plans to include birds and snakes, among others.

On the other hand, Lemonade is a novice in this industry, but it doesn’t lack the experience of offering top-notch services to its customers. A big selling point for Lemonade pet insurance is the use of artificial intelligence for unbiased and fast claim processing through their popular mobile app.

Lemonade Pet Insurance Overview

A newbie in the insurance business, Lemonade has become a smashing success. Lemonade is a modern company offering high-tech features like a highly sophisticated mobile app software to keep track of all pet-related health record issues. They are also one of the few that offer bundling of renters and homeowners insurance with pet insurance for a 10% discount. 

Lemonade pet insurance coverage includes a basic Accident & Illness Plan that can be customized to fulfil every pet’s needs. Owners of kittens and puppies have the opportunity to use the Puppy/Kitten Preventive Package for vaccines, spaying, neutering, and meeting every need of the adorable baby pets. 

Lemonade pet insurance is also known for its Give Back Program. Through this program, Lemonade donates 40% of unclaimed money to a charity chosen by the pet owner.

Pros

  • No lifetime limits on plans;
  • Affordable and customizable coverage plans;
  • Possibility of receiving various discounts;
  • Add-on for puppy/kitten care;
  • High-tech mobile app for filing claims and insight into pet’s medical history records;
  • Wellness and preventative care coverage.

Cons

  • Not available in certain states;
  • Certain older breeds are not covered;
  • Doesn’t cover pre-existing conditions.
Lemonade Pet Insurance

Nationwide Pet Insurance Overview

Nationwide has been around since 1926 offering all types of insurance. In 2009 they purchased Veterinary Pet Insurance Company and started a more serious approach toward pet insurance alone. 

They offered pet parents pre-made insurance policies for cats and dogs while also providing the possibility of combining them with wellness add-ons. 

Nationwide Pet Insurance coverage includes three different pet insurance options you may choose from. Current Nationwide members receive 5% on the insurance policy for their cat, dog, or one of their exotic animals and birds. 

Pros 

  • 90% coverage with unlimited annual maximums;
  • Possibility of receiving discounts;
  • Available coverage for birds and exotic animals;
  • Track claims in real-time online and submits them through your smartphone;
  • Unlimited claims for Whole Pet with wellness plans;
  • Coverage available for pets traveling outside of the United States with the pet parent.

Cons

  • Not available in all states;
  • Has set annual limits and a $2 transaction fee for monthly payments; 
  • No coverage of pre-existing conditions.
Nationwide Pet Insurance

Lemonade vs Nationwide Pet Insurance: Limits and Deductibles

Pet insurance companies define the limits and deductibles based on experience with customers and in comparison to market competitors. When comparing Lemonade vs Nationwide pet insurance, the differences seem to be rather visible. 

Nationwide has a rather simple approach when it comes to limits and deductibles. It offers unlimited annual coverage and a reimbursement level of 50%, 70%, and 90%. The annual deductible is $250 for the Medical and Major Medical option, Whole Pet with Wellness options, My Pet Protection plan, and the injury plan. The Avian and Exotic Pet insurance plan usually offers a pre-incident deductible. 

Lemonade pet insurance on the other hand, offers annual coverage limits between $5,000, $10,000, $20,000, $50,000, and $100,000. It also has a different approach to annual deductibles, and it offers a choice between $100, $250, and $500.

Lemonade vs Nationwide Pet Insurance: Waiting Periods

Based on past experiences with fraud, pet insurance providers are opting for waiting periods from purchasing the insurance plan to filing the first claim. The period length may vary from one provider to the next, but they seem to be offering more or less similar and reasonable time frames. 

 Lemonade pet insurance waiting period is set to two days for accidents, fourteen for illnesses, and six months for ligament injuries. Nationwide pet insurance waiting periods depend on the coverage plan but are quite similar to those of Lemonade. Generally, the waiting period is 14 days for accidents and illness, while there is a 12-month waiting period for ligament and knee injuries. 

Lemonade vs Nationwide pet insurance is a tight race, with Lemonade winning on the ligament injury front.

Lemonade vs Nationwide Pet Insurance: Coverage 

Many pet parents wonder why the pet insurance coverage differs from one state to another or from one pet to another. Location does influence the price of insurance coverage, and so does your pet’s age, species, and breed.

Pet parents may have also noticed that insurance plans for older and larger dogs cost more than for others. This is due to breed-specific conditions and the fact that, like humans, dogs tend to develop medical conditions that get expensive.

Nationwide comes with several pet insurance medical and wellness plans, while Lemonade pet insurance coverage provides customizable policies and wellness plans.

Lemonade Pet Insurance Coverage

Lemonade pet insurance coverage focuses on accidents and illness, incorporating diagnostics, medications, and procedures needed to manage your pet’s injuries. 

The Accident and Illness plan covers poisoning, medication, emergency hospitalization, surgery, hip dysplasia, and diagnostics. There is also the Preventive and Wellness plan that includes screening for pet illness, up to three vaccines per year, and yearly checkups.

The Lemonade pet insurance coverage includes three preventive and wellness plans:

  • Preventative – a plan that pays for annual wellness exams, three pet vaccines per year, heartworm screenings, lab and parasite tests;
  • Preventive+ – includes the services offered by the Preventive plan and is upgraded with dental cleanings and parasite medications;
  • Preventative Package for Puppies and Kittens – covers microchipping, 2 wellness visits, two internal parasite tests, spaying and neutering, 6 vaccinations, and tick and heartworm medicines.

Pet parents can also choose to expand the policies with vet visit coverage and physical therapy coverage. 

The Lemonade pet insurance cost is based on the customization of the coverage plan, but the average monthly cost for cat insurance is $25 per month and $37 for dog insurance. The provider also allows for various discounts, so make sure to check if you can grab one when purchasing the policy for your pet.

Nationwide Pet Insurance Coverage

Nationwide allows pet parents to select from three coverage plans that have set reimbursement amounts, deductibles, and annual coverage limits. Customization of the plans is not an option. 

The Nationwide pet insurance coverage plans are:

  • Major Medical – a simple plan covering accidents, injuries, hereditary conditions, congenital conditions, cancer, 24/7 vet helpline, and use of any vet, including ER and specialty;
  • Major Medical with Wellness – includes all services from the Major Medical plan plus vaccinations, wellness exams, flea and heartworm preventions, blood work, and urinalysis;
  • Whole Pet with Wellness – the broadest plan covering all services from the previous two, plus microchipping, spaying, neutering, alternative and holistic treatments, behavioral treatments, deworming, dental diseases, RX therapeutic diets, and supplements.

Nationwide allows pet parents to purchase a standalone wellness plan without having to purchase a pet insurance policy. Wellness Basic and Wellness Plus are the two premiums offered based on location, type of pet, and plan chosen. Check the set coverage amount per service for these wellness plans.

Nationwide pet insurance charges between $40 and $65 per month. There is a $2 monthly transaction fee, but there is no fee for enrollment. As mentioned, Nationwide also offers insurance plans for exotic pets. Depending on the type of exotic pet, birds may be insured for an average of $13 per month or $11 for reptiles. 

If you are wondering how to cancel the Nationwide pet insurance policy, the answer is you can do it at any time by simply notifying the company in writing. Provide the pet name, policy number, and the reason for canceling the policy, or simply log into your account and click the “Cancel My Policy” button.

Lemonade vs Nationwide Pet Insurance: Claims

Nationwide pet insurance claim forms will be processed for payment within 30 days of receiving all the necessary documentation. The claim may be submitted by e-mail or the Pet Account Access page. The waiting period for the Pet Wellness Plan is 24 hours, and there is no time limit for submitting claims Nationwide. Nationwide makes sure to keep clients in the loop of the refund steps taken until completion.

Lemonade clients can file their claims through the sophisticated mobile app and follow the process till the end. This helps avoid any mistakes from occurring during the processing period. 

Conclusion: Which One is The Best?

It’s always difficult to say whether one provider is better than the other, considering the plans are designed based on the most common pet’s needs. Lemonade vs Nationwide pet insurance comparison shows they both fulfill the needs of different pets. 

Lemonade is a great option for younger animals, while Nationwide stands out for the coverage of birds and exotic animals.

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