Figo vs Lemonade Pet Insurance
A factual, side-by-side look at coverage, deductibles, reimbursement, limits and waiting periods. We do not declare a universal winner.
Quick comparison
| Feature | Figo | Lemonade |
|---|---|---|
| Plans | Figo offers three main plans: Essential ($5,000 annual benefit), Preferred ($10,000 annual benefit) and Ultimate (unlimited annual benefits). Customers can customize their coverage with their deductible and reimbursement percentage. Optional Powerups can add benefits such as veterinary exam fee coverage and wellness care. | Lemonade’s base pet insurance is built around accident and illness coverage. Customers can customize their policy with different annual deductibles, reimbursement percentages and annual limits. Optional packages and add-ons can provide additional coverage, including preventative care, dental coverage, behavioral conditions and other benefits. Availability varies by state. |
| Coverage | Figo coverage can include eligible accidents, illnesses, chronic conditions, hereditary and congenital conditions, cancer treatments, surgeries, specialist treatments, diagnostic services, prescription medications, dental illness and injury, and certain holistic or alternative treatments. Figo does not cover pre-existing conditions in general, but states that some curable pre-existing conditions may become eligible for coverage after the condition has been symptom- and treatment-free for 12 months. Figo also states that its plans have no per-incident caps. | A base Lemonade Pet policy can cover diagnostics, procedures, medications and hospitalizations related to eligible new accidents and illnesses. Lemonade states that eligible conditions can include hereditary conditions, chronic conditions, infestations and infections. Pre-existing conditions are not covered. Dental accidents, such as fractured teeth, can be covered under the base policy, while additional dental coverage may be available through an add-on. |
| Deductibles | Figo uses an annual deductible. Once the selected annual deductible has been met, the deductible does not apply again for the remainder of that policy year. Published Figo materials show deductible options ranging from $100 to $750, with the available options depending on the policy and state. | Lemonade uses an annual deductible that resets when the policy renews. Published deductible options include $100, $250, $500 and $750, depending on the policy and applicable availability. |
| Reimbursement | Figo offers reimbursement options of up to 100% of eligible covered veterinary expenses. The reimbursement percentage is selected as part of the policy and works together with the annual deductible and selected annual benefit limit. | Lemonade offers reimbursement options of 70%, 80% or 90% for eligible claims. The reimbursement percentage applies together with the policy’s annual deductible and annual limit. |
| Annual limits | Figo offers three annual benefit levels: $5,000, $10,000 and Unlimited. Figo describes these as the maximum amount that can be reimbursed for eligible veterinary expenses during the policy year. Figo does not use per-incident caps on its plans. | Customers can select an annual coverage limit between $5,000 and $100,000. The annual limit is the maximum amount Lemonade will pay for eligible claims during the policy year. |
| Waiting periods | Figo states that its standard waiting period for accident-related injuries is 1 day. Its published materials also describe a 14-day illness waiting period and a 6-month orthopedic-condition waiting period. Figo offers an Orthopedic Conditions waiver through Pet Cloud that can eliminate the six-month orthopedic waiting period when the applicable requirements are met within the first 30 days of the policy. Waiting-period terms can vary by state and policy. | Lemonade currently states: accidents 0 days, illnesses 14 days, orthopedic conditions 30 days. The policy becomes effective at 12:01 AM the day after purchase, and the applicable waiting periods begin from the policy start date. |
| Dental | Figo lists dental illness and dental injury among its covered areas. Routine dental care is available through the optional Wellness Powerup, which can provide benefits for dental cleanings and other preventative care. Coverage and benefits vary by policy and state. | Dental coverage depends on the policy and available add-ons. Dental accidents, such as fractured teeth, can be covered by the base policy. Lemonade also offers additional dental coverage in some areas, including coverage for dental illness and, with the Dental Care Add-On, routine dental cleanings. |
| Prescription coverage | Prescription medications for eligible covered conditions are included in Figo’s pet insurance coverage. Figo specifically lists prescription medications among its covered benefits and states that they are included without an additional cap. | Prescription medications used to treat eligible accidents and illnesses can be covered under Lemonade’s base accident and illness policy. Additional prescription-related coverage may apply under certain add-ons, depending on the condition and policy terms. |
| Wellness | Figo offers an optional Wellness Powerup for preventative and routine care. Depending on the applicable plan and state, wellness benefits can include routine exams, vaccines, spaying or neutering, dental care, and other preventative services. Wellness coverage is separate from insurance coverage for unexpected accidents and illnesses. | Lemonade offers preventative care packages that can reimburse eligible routine-care expenses separately from the base accident and illness coverage. Depending on the package, benefits can include wellness exams, vaccinations, routine testing, flea/tick or heartworm medication, spaying or neutering, and microchipping. Availability and benefits vary by state and package. |
| Exam fees | Veterinary exam fee coverage is available through an optional Powerup rather than automatically included in every policy. | Vet exam fees generally require the Visit Fee Add-On when related to a covered accident or illness. |
| Pre-existing conditions | Pre-existing conditions are generally not covered. Figo states that some curable pre-existing conditions may become eligible after the condition has been symptom- and treatment-free for 12 months. | Pre-existing conditions are not covered. |
| Claims | Figo uses a reimbursement model. Pet owners can visit any licensed veterinarian, including specialists and emergency veterinary hospitals, and then submit eligible veterinary bills for reimbursement. Claims can be submitted through Figo’s mobile app, with claim status available through its tracking tools. Figo reports that most claims close in approximately 3 working days, based on its 2025 claims data. After an approved claim, reimbursement is paid directly to the policyholder’s bank account. | Lemonade uses a reimbursement model. You pay the veterinarian upfront and submit your claim through the Lemonade mobile app. Claims can include the veterinary invoice or paid receipt and relevant medical records. Lemonade states that more than 50% of eligible pet claims are processed instantly, while approximately 80% are handled within five days. Claims must generally be submitted within 180 days of treatment, with a 90-day deadline in Texas. |
Coverage
How to compare: Read the covered and excluded lists in each sample policy.
| Feature | Figo | Lemonade |
|---|---|---|
| Coverage | Figo coverage can include eligible accidents, illnesses, chronic conditions, hereditary and congenital conditions, cancer treatments, surgeries, specialist treatments, diagnostic services, prescription medications, dental illness and injury, and certain holistic or alternative treatments. Figo does not cover pre-existing conditions in general, but states that some curable pre-existing conditions may become eligible for coverage after the condition has been symptom- and treatment-free for 12 months. Figo also states that its plans have no per-incident caps. | A base Lemonade Pet policy can cover diagnostics, procedures, medications and hospitalizations related to eligible new accidents and illnesses. Lemonade states that eligible conditions can include hereditary conditions, chronic conditions, infestations and infections. Pre-existing conditions are not covered. Dental accidents, such as fractured teeth, can be covered under the base policy, while additional dental coverage may be available through an add-on. |
Price
Prices depend on your pet’s species, breed, age and ZIP code and on the deductible, reimbursement rate and annual limit chosen. Compare estimates for your own pet at identical settings rather than relying on a single average.
Deductibles
How to compare: Annual, per-condition or lifetime, and the amounts offered.
| Feature | Figo | Lemonade |
|---|---|---|
| Deductibles | Figo uses an annual deductible. Once the selected annual deductible has been met, the deductible does not apply again for the remainder of that policy year. Published Figo materials show deductible options ranging from $100 to $750, with the available options depending on the policy and state. | Lemonade uses an annual deductible that resets when the policy renews. Published deductible options include $100, $250, $500 and $750, depending on the policy and applicable availability. |
Reimbursement
How to compare: The percentages offered and how payouts are calculated.
| Feature | Figo | Lemonade |
|---|---|---|
| Reimbursement | Figo offers reimbursement options of up to 100% of eligible covered veterinary expenses. The reimbursement percentage is selected as part of the policy and works together with the annual deductible and selected annual benefit limit. | Lemonade offers reimbursement options of 70%, 80% or 90% for eligible claims. The reimbursement percentage applies together with the policy’s annual deductible and annual limit. |
Annual limits
How to compare: Fixed or unlimited, and any per-condition or lifetime caps.
| Feature | Figo | Lemonade |
|---|---|---|
| Annual limits | Figo offers three annual benefit levels: $5,000, $10,000 and Unlimited. Figo describes these as the maximum amount that can be reimbursed for eligible veterinary expenses during the policy year. Figo does not use per-incident caps on its plans. | Customers can select an annual coverage limit between $5,000 and $100,000. The annual limit is the maximum amount Lemonade will pay for eligible claims during the policy year. |
Waiting periods
How to compare: Accident, illness and orthopedic waiting periods.
| Feature | Figo | Lemonade |
|---|---|---|
| Waiting periods | Figo states that its standard waiting period for accident-related injuries is 1 day. Its published materials also describe a 14-day illness waiting period and a 6-month orthopedic-condition waiting period. Figo offers an Orthopedic Conditions waiver through Pet Cloud that can eliminate the six-month orthopedic waiting period when the applicable requirements are met within the first 30 days of the policy. Waiting-period terms can vary by state and policy. | Lemonade currently states: accidents 0 days, illnesses 14 days, orthopedic conditions 30 days. The policy becomes effective at 12:01 AM the day after purchase, and the applicable waiting periods begin from the policy start date. |
Dental
How to compare: Injury, illness and routine dental coverage.
| Feature | Figo | Lemonade |
|---|---|---|
| Dental | Figo lists dental illness and dental injury among its covered areas. Routine dental care is available through the optional Wellness Powerup, which can provide benefits for dental cleanings and other preventative care. Coverage and benefits vary by policy and state. | Dental coverage depends on the policy and available add-ons. Dental accidents, such as fractured teeth, can be covered by the base policy. Lemonade also offers additional dental coverage in some areas, including coverage for dental illness and, with the Dental Care Add-On, routine dental cleanings. |
Claims
How to compare: How to file, how long it takes, and payment methods.
| Feature | Figo | Lemonade |
|---|---|---|
| Claims | Figo uses a reimbursement model. Pet owners can visit any licensed veterinarian, including specialists and emergency veterinary hospitals, and then submit eligible veterinary bills for reimbursement. Claims can be submitted through Figo’s mobile app, with claim status available through its tracking tools. Figo reports that most claims close in approximately 3 working days, based on its 2025 claims data. After an approved claim, reimbursement is paid directly to the policyholder’s bank account. | Lemonade uses a reimbursement model. You pay the veterinarian upfront and submit your claim through the Lemonade mobile app. Claims can include the veterinary invoice or paid receipt and relevant medical records. Lemonade states that more than 50% of eligible pet claims are processed instantly, while approximately 80% are handled within five days. Claims must generally be submitted within 180 days of treatment, with a 90-day deadline in Texas. |
Pros and limitations
Figo
Up to 100% reimbursement. Annual deductible structure. Deductibles ranging from $100 to $750. $5,000, $10,000 or unlimited annual benefits. No per-incident claim caps. No upper age limit for enrollment. One-day accident waiting period. Optional Wellness Powerup. Prescription medications included. Dental illness and injury coverage. Option to use any licensed veterinarian, including specialists and emergency hospitals. Mobile claim submission and claim tracking. Figo reports most claims close in approximately three working days.
Coverage, pricing, deductibles and available options can vary by state. Pre-existing conditions are generally excluded. The standard orthopedic waiting period can be six months unless the applicable waiver requirements are met. Wellness coverage is an optional add-on rather than part of the core accident and illness coverage. Some benefits, including veterinary exam fee coverage, are available through optional coverage rather than automatically included in every policy.
Lemonade
Customizable reimbursement options of 70%, 80% or 90%. Annual deductible options. Annual limits from $5,000 to $100,000. No waiting period for accidents. Optional preventative care and other add-ons. Claims handled through a mobile app. Any licensed veterinarian in the U.S. can be used. Reimbursement is deposited directly into the customer’s bank account after an approved claim.
Availability and coverage options vary by state. Pre-existing conditions are excluded. Customers pay the veterinarian upfront before reimbursement. Vet exam fees generally require the Visit Fee Add-On when related to a covered accident or illness. Additional coverage options may require separate add-ons.
Who each option may suit
Figo
Pet owners who want customizable accident and illness coverage, an annual deductible, reimbursement options of up to 100%, and the ability to choose between $5,000, $10,000 or unlimited annual benefits. It may also appeal to owners who want optional preventative care, dental coverage and prescription coverage.
Lemonade
Pet owners who want customizable accident and illness coverage, an app-based claims experience, multiple deductible and reimbursement options, and the ability to add preventative care or other optional coverage. As with any pet insurance policy, review the policy terms available in your state before purchasing, since coverage, pricing, eligibility and available add-ons can vary.
Whichever you compare, hold the deductible, reimbursement rate and annual limit constant so differences reflect the plans and not the settings.
Frequently asked questions
Is Figo or Lemonade better?
Neither is better for everyone. The right choice depends on your pet’s age and breed, your budget, and which benefits you care about most. Compare the same deductible, reimbursement rate and annual limit for both, then review exclusions and waiting periods.
Which is cheaper, Figo or Lemonade?
Price depends on your pet and the plan settings you choose, so it can differ from one pet to the next. Compare personalized estimates for your pet on identical settings.
Are Figo and Lemonade both available in every state?
Not necessarily. Both Figo and Lemonade state that availability and policy terms vary by state, so check the quote and policy for your state.
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