Lemonade’s North Carolina pet insurance business more than doubled over the past year, growing from $5.3 million in written premium and 8,734 policyholders in 2025 to $11.6 million and 19,084 policyholders in 2026.

The growth came with a shift in pricing. In its 2025 filing, Lemonade requested a 0.6% overall rate decrease. In its latest filing, submitted on July 7, 2026, the company is seeking a 14.9% overall rate increase, compared to an indicated need of 18.8%.

According to the actuarial filing, the increase is driven by higher expected claims costs and updated pricing assumptions. Lemonade also revised its rating factors, resulting in larger changes for some individual policies.

Bottom Line: Lemonade rapidly expanded its North Carolina pet insurance business over the past year, and is now seeking a double-digit rate increase as claims costs and pricing assumptions have changed.