As a pet parent, the health and well-being of your furry companion are in your hands. This can be daunting when you consider the various pet insurance options out there to choose from. Finding a solution that fits your unique needs can be challenging.

Petcube’s Emergency Fund and Lemonade’s Pet Insurance are two very popular options on the market. To make your life easier, we'll compare them to help you find the solution that best meets your requirements.

Are you looking for full and comprehensive pet insurance covering various illnesses, day-to-day care, and planned vet visits? Or are you looking for something simple and effective to help you tackle potentially expensive emergencies?

We’ll cover various essential factors, including the coverage of each option, waiting periods, costs, and cancellations, to provide you with a complete overview of both options to help you make your decisions.

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  1. What Is Covered by the Insurance
  2. What Is Not Covered by the Insurance
  3. How Many Pets Can Be Insured
  4. What Is the Waiting Period for Insurance
  5. How Much Does Insurance Cost
  6. How to Cancel Pet Insurance
  7. Final Thoughts

What Is Covered by the Insurance

We all know that insurance of any kind has various terms and conditions. This fine print is notorious for catching people out when not read and understood thoroughly. Does pet insurance cover spaying? Does pet insurance cover shots? What about emergency visits?

Make sure you understand what is covered by your insurance before signing on the dotted line.

Petcube Emergency Fund

Petcube’s Emergency Fund offers coverage for life-threatening emergencies. This includes severe internal and external injuries that require immediate emergency attention. It is accident-only pet insurance.

The fund covers up to $3,000 annually to cover emergency veterinary care and also includes 24/7 access to online vet consultations. The emergency fund does not cover planned veterinary appointments, dental care, or routine care.

What sets the fund apart from other pet insurance providers is that there is no exclusion for pre-existing conditions and no exclusion criteria based on the breed or age of your pet.

Lemonade Pet Insurance

Lemonade Pet Insurance’s basic plan covers a range of accident and illness costs, including diabetes, UTIs, arthritis, cuts, and broken bones. The plan also covers additional items, including lab work, surgery, emergency care, medication, hospitalization, and diagnostics.

Lemonade also offers a variety of preventative packages and add-ons to customize policies to your pet’s unique needs.

Read more: How Does Pet Insurance Work?

What Is Not Covered by the Insurance

Knowing what is covered by insurance does not necessarily mean you have a good idea of what isn't covered. Make sure you understand explicitly what isn’t included. Here, we look at those exclusions that may impact your decision when choosing the best pet insurance for you.

Petcube Emergency Fund

The Petcube Emergency Fund is emergency pet insurance and is not designed as catch-all insurance. It exists purely to assist with life-threatening emergencies. Routine care, dental care, non-life-threatening illnesses, long-term conditions, and other planned visits are not covered.

It’s important to remember that the Petcube Emergency Fund is not traditional pet insurance. Instead, it is a membership that protects you financially in pet emergencies when emergency care costs can rack up significantly. It is a cost-effective alternative to standard pet insurance.

Lemonade Pet Insurance

The basic plan from Lemonade Pet Insurance does not cover behavioral conditions, dental illnesses, or specific preventative care options. Add-ons are available at an additional cost to include coverage for preventative care.

The base plan does not cover veterinary examination fees leading to a diagnosis.

Read more: Pet Insurance for Older Pets: What You Need to Know

How Many Pets Can Be Insured

Do you need a policy for each pet in your home? Is there a discount for additional pets in one household? Which is the best pet insurance for multiple pets?

Petcube Emergency Fund

The Petcube Emergency Fund offers coverage for up to six pets in one household. The $3,000 coverage can only be used for one emergency per pet per year.

Lemonade Pet Insurance

Lemonade Pet Insurance requires individual policies for each pet. However, they offer a multi-pet discount, which provides coverage for multiple pets with some cost benefits.

What Is the Waiting Period for Insurance

Most insurance has a mandatory waiting period before you can make your first claim. This time delay prevents fraud by making it impossible to claim and receive a payout for a condition or injury that occurred before the policy was purchased. Is there such a thing as no-waiting-period pet insurance? Not really, it is rare to find pet insurance with no waiting period.

Petcube Emergency Fund

With the Petcube Emergency Fund, there is a 14-day waiting period after joining before you can utilize the emergency coverage.

Lemonade Pet Insurance

Lemonade Pet Insurance has a waiting period of 2 days for accidents, 14 days for illnesses, and six months for cruciate ligament events. Their preventative package is available as early as one day after purchasing the policy.

Read more: How Much Does Pet Insurance Cost in 2023?

How Much Does Insurance Cost

The cost of pet insurance can vary significantly between providers. Before opting for the most affordable option, you must be clear about what that cost covers and what costs will come out of pocket. What may seem on the surface to be the most affordable pet insurance option might not meet all your needs? Make sure to read and understand the terms and conditions.

Petcube Emergency Fund

What makes Petcube so attractive to such a wide range of pet owners is that it costs only $29 per month, amounting to an annual total of just $348. For this amount, you can access up to $3000 in emergency funds and 24/7 access to a team of online vets.

Lemonade Pet Insurance

Lemonade Pet Insurance's pricing varies based on the plan and add-ons chosen. The base plan is relatively inexpensive, but a comprehensive plan can be costly. Additional coverage for vet visits, behavioral conditions, dental illnesses, and preventative care can add to the cost.

Read more: Petcube Emergency Fund vs Pawp Pet Insurance

How to Cancel Pet Insurance

Cancellation policies can vary, and if not read and understood, can make life tricky when you wish to cancel your policy. Before you choose your pet insurance, it’s a good idea to know what is required and how to cancel that pet insurance.

Petcube Emergency Fund

The Petcube Emergency Fund remains active as long as regular monthly payments are made. If you cancel your Emergency Fund subscription, you will lose instant access to your Emergency Fund.

Lemonade Pet Insurance

Lemonade's policy can be canceled at any time. How can you cancel your Lemonade insurance? Conveniently, through their app. It’s important to remember that any diagnoses or incidents that would have occurred under the first policy will be considered pre-existing conditions in any future policies.

Read more: Petcube Emergency Fund vs ASPCA Pet Insurance

Final Thoughts

An accurate comparison between the Petcube Emergency Fund and Lemonade Pet Insurance isn’t entirely possible. They offer vastly different types of coverage aimed at different needs.

Petcube’s Emergency Fund should not be mistaken for a traditional pet insurance plan. It focuses instead on life-threatening emergencies with a straightforward coverage plan. It is affordable and accessible to all pet owners and serves as financial protection when you need it the most — in emergencies.

Because of the simplicity of Petcube’s offering, there's significantly less fine print to familiarize yourself with and fewer decisions you need to make regarding coverage. It's simple, cost-effective, and straightforward.

Lemonade offers a comprehensive insurance option with customizable coverage options for accidents, illnesses, and preventative care. There are various add-ons and extras that you can include in your policy, depending on your specific needs, budget, and preferences.

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