Lemonade launches pet insurance in 33 states
Insurtech company Lemonade has branched out farther from home and renter's insurance, kicking off pet insurance in 33 states.
The new product operates in largely the same way as the company's signature offerings, using its AI- and behavioral-economics-powered mobile app for distribution and service and donating excess premiums to animal-focused charities. It starts at $12 per month and can be bundled with other Lemonade coverages.
In addition to basic coverage, Lemonade is offering a prevention and wellness package that includes the costs of routine wellness exams and vaccines, as well as an extended accident and illness package expanding coverages of more advanced treatments and veterinary care.
The news comes shortly after Lemonade offered an IPO that more than doubled in price on its launch date, bringing the insurtech revolution to the larger business market.