Lemonade launches insurance for younger pets
Insurtech Lemonade has announced a new addition to its ‘Lemonade Pet’ insurance, introducing a new preventative care package specifically designed for younger pets such as puppies and kittens.
Shai Wininger, Lemonade CEO and Co-founder, said: “In the year since we launched Lemonade Pet, we continued to expand our product, and today, we’re bringing it to pet parents of young cats and dogs. With the pandemic-driven surge in pet adoption, it became even more obvious Lemonade should offer these pet parents peace of mind around the healthcare of their puppies and kittens.”
An increase in pet adoption
Pet adoption is on the rise, with approximately 70% of US households that have a pet, according to the American Pet Products Association’s 2021-2022 survey, up from 67% in their 2019-2020 survey. Furthermore, one in four pet parents surveyed in May 2021 said they’re “worried about being able to afford vet care”, according to the ASPCA.
Lemonade says its new package offers coverage for important procedures like spay and neuter, microchipping, flea medication, and up to six vaccines or boosters. The $2 billion US pet health insurance industry tends to focus on coverage for accidents and illness, rather than preventative care for young pets, making Lemonade’s new package especially appealing for parents of young pets.
Dr. Stephanie Liff, Lemonade’s vet health expert, said: “Lemonade’s new offering showcases a commitment to provide pets with quality health care by making preventative care more affordable,” said “Offering a preventative care package for puppies and kittens transforms the way pet parents think about going to the vet. Instead of rushing over when something bad happens, or as the dog or cat grows old, people should bring pets in when they’re young, to keep them healthy as they mature.”
The package is available for new Lemonade Pet customers in 33 states across the United States and for existing Lemonade Pet customers when they renew their policy.