Lemonade vs Figo Pet Insurance Comparison 2023

Updated on by Matthew H. Nash – Licensed Insurance Agent

We’ve broken down the main differences between Lemonade and Figo so you can determine which pet insurance plan is the best option for you and your furry friend. We may receive compensation when you click on the affiliate links below.

lemonadefigo pet insurance
SwiftScore Rating4.9 ★★★★★4.6 ★★★★
Average Price$26.31/ mo$41.24/mo
Reimbursement60% to 90%70%, 80%, 90% or 100%
Annual Benefit$5k, $10k, $20k, $50k, or $100k$5k, $10k or unlimited
Illness Waiting Period14 days14 days
Accident Waiting Period2 days5 days
Other Perks10% bundle discount (renters, home, life, auto)
5% multi-pet discount
5% annual discount
15% discount for Costco members
Other discounts may be available and vary by state
Money Back Guarantee (if no claims)30 days30 days
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Overall Winner: Lemonade →

Lemonade Pet Insurance Overview

Although Lemonade is still a fairly new provider, they are an industry leader in pet insurance. Their business model is completely virtual, with a mobile app that is both user-friendly and intuitive. Pet owners can use the app to enroll in a plan, submit claims, chat with customer service, and much more.

If you choose Lemonade as your provider, you’ll also have the option to choose from three optional wellness plans – the Preventative Package, the Preventative+ Package, or the Puppy/Kitten Preventative Package. Add-on packages can also cover additional costs such as preventative care, vet visit fees, physical therapy, or dental illnesses.

However, it should be noted that Lemonade isn’t available in every state. Lemonade also may not be the best option for senior pets or pets with pre-existing conditions.

Below is a list of pros and cons to help you determine whether or not Lemonade is right for you and your family.

Pros: Affordable monthly premiums, easy-to-use mobile app, simple process for filing claims, regular charitable donations, ability to live chat with an agent, quick reimbursement (30% approved and paid instantly), optional add-on, and wellness packages to fit any need.

Cons: Not available in all states, does not cover pre-existing conditions, the waiting period for cruciate ligament events is 6 months, pets must be over 8 weeks old and under 14 years old in order to enroll.

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Figo Pet Insurance Overview

Founded in 2013, Figo is a well-established provider in the pet insurance industry. Their standard plan covers accidents and illnesses but includes several add-on options to fit any pet parent’s needs. Figo will even cover pre-existing conditions if a pet hasn’t shown symptoms or needed treatment related to those conditions in the past 12 months.

Figo’s standard policies are available in all 50 states, although wellness plans may vary by state. Claims can be submitted easily via their mobile app; most are approved in less than 3 business days. Additionally, Figo offers 24/7 live vet support online.

Although Figo is great for pet owners who want comprehensive coverage, they do not offer an accident-only plan, which is often more affordable than a standard coverage.

Below we’ve listed some pros and cons to keep in mind when determining if Figo is right for you and your family.

Pros: 24/7 access to licensed vets via their mobile app, fast claim processing, optional add-on plans for additional coverage, no cap on individual claims, no cap on lifetime benefits.

Cons: No accident-only plan, most pre-existing conditions are not covered, pets must be at least 8 weeks old to enroll, plans do not cover microchipping.

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The Swiftest’s Verdict

Monthly Plan Prices

Lemonade’s low premiums and customizable plans give them a leg up when it comes to pricing. With Lemonade, pet owners can enroll in a standard accident/injury plan, just a wellness plan, or both with options for add-ons. Figo, however, has a more comprehensive plan with some options for add-ons, but it’s pricier overall and pet owners may not need all of the benefits included.


Lemonade offers deductibles of $100, $250, or $500. However, Figo has options for $100, $250, $500, or $750. Higher deductibles often result in a lower monthly premium, so more deductible options give pet owners more flexibility. Therefore, Figo is the better option when just looking at the deductibles.


Lemonade is available in 37 states plus Washington DC. Figo’s standard policy, however, is available in all 50 states while their wellness plan varies in availability by state. Both Lemonade and Figo offer add-on options for preventative care, although Lemonade allows pet owners to choose between three preventative care packages. Both companies also offer additional add-on care packages, although Lemonade has more options and is much more customizable. Overall, if Lemonade is available in your state, it is superior in coverage.

Customer Service

Lemonade’s world-class mobile app allows users to contact customer support through a live chat at any time. Lemonade can also be contacted via their website, phone, or email. Figo can be contacted by calling, texting, emailing, or faxing. Although the two have similar options, Lemonade’s intuitive app makes their customer service much easier to work with.

Additional Perks

As we mentioned, Lemonade offers a variety of plan options so coverage can be customized to fit any pet’s needs. This allows users to only pay for what they need, and additional discounts such as multiple pets and bundling make their insurance even more affordable. And although Figo is still reasonably priced, fewer plan options could lead to paying for more coverage than will be used.

Additionally, Lemonade has a Giveback program that also allows insurance premiums to do some good in the community. Lemonade takes a flat fee and puts away to rest to pay out claims, then they donate whatever is leftover.

The main draw of Figo is that 24/7 vet support via their mobile app is included in all of their plans. Although Lemonade does not offer that feature, their wellness plans allow pet owners to visit a vet whenever they need to.


Here at The Swiftest, we’ve determined that Lemonade’s plan flexibility, low monthly premiums, easy-to-use app, and community impact make them the best option for pet insurance. If their coverage is available in your state, we highly recommend looking into Lemonade as you determine the right pet insurance plan for your furry friend.

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SwiftScore Ranking Methodology

We ranked the best pet insurance policies based on a variety of important factors including the following:

  • National average monthly price for a 2-year-old Labrador Retriever with a $500 deductible and this is how we calculate the “standard plan cost” shown above
  • Below are all the zip codes we used to get the national average prices for each pet insurance provider: AL (35206) | AK (99516) | AZ (85050) | AR (72205) | CA (90210) | CO (80238) | CT (06105) | DE (19904) | FL (33155) | GA (30331) | HI (96821) | ID (83712) | IL (60630) | IN (46229) | IA (50317) | KS (66109) | KY (40511) | LA (70112) | ME (04108) | MD (21209) | MA (02136) | MI (48201) | MN (55414) | MS (39211) | MO (63104) | MT (59101) | NE (68154) | NV (89117) | NH (03062) | NJ (07305) | NM (87120) | NY (10022) | NC (27603) | ND (58104) | OH (44102) | OK (73129) | OR (97229) | PA (19128) | RI (02909) | SC (29414) | SD (57108) | TN (38111) | TX (77054) | UT (84104) | VT (05408) | VA (23221) | WA (98108) | WV (25311) | WI (53225) | WY (82009)
  • Coverage and benefits
  • Key policy details including accidents and illnesses, surgeries, annual check-ups, cancer treatment, lab tests, and more
  • AM Best rating of the underwriter
  • Reimbursement percentage
  • Annual benefit amount
  • Technology and user experience
  • Ease of sign up
  • Policy language clarity
  • User reviews