In Massachusetts, Lemonade Is Now Offering Its Pet Insurance
Lemonade, a digital insurer, has expanded its pet insurance to Massachusetts, making it the 37th state where it is available.
Dogs and cats are included under the pet plans.
Massachusetts has witnessed a boost in pet ownership during the pandemic, according to the insurer, and shelters have lately reported a surge in pets up for adoption following neighboring storms.
Spaying/neutering, vaccines, microchipping, and flea and tick treatments are all covered by Lemonade in addition to the basic policy. Pet owners can also include payments for vet visits or physical rehabilitation to their policy.
In the year 2020, Lemonade began offering pet insurance. Renters, homeowners, car, and life insurance are all available through lt.
According to the most recent data from the North American Pet Health Insurance Association (NAPHIA), the North American pet insurance market is made up of about 20 companies, with several of them having multiple white label or co-branded products that account for at least another 20 pet insurance product brands.
According to NAPHIA’s most current industry estimate, the total pet insurance premium volume in the United States will be $1.99 billion by year-end 2020, based on statistics provided by Willis Towers Watson. Between 2016 and 2020, the US market is expected to rise by double digits, with an average annual growth rate of 24.2 percent.
