Lemonade’s original Oregon pet insurance book has more than tripled since its 2022 rate filing, but the latest documents show a business facing substantial pricing pressure.
An April 2022 filing listed 2,185 affected policyholders. By April 24, 2023, Lemonade reported 6,253 in-force policies—an increase of approximately 186%. The count reached 6,876 as of September 25, 2026, roughly 215% above the 2022 figure but only 10% above April 2023.
That apparent slowdown comes with an important qualification: the figures cover Lemonade Insurance Company, rather than the brand’s entire Oregon pet business. In May 2025, Oregon approved a separate pet program under Metromile Insurance Company. Lemonade’s filing said new business would move to Metromile while existing policies continued renewing with Lemonade Insurance Company. The supplied documents do not disclose Metromile’s current policy count, so they cannot establish Lemonade’s total statewide growth.
The less favorable development is the cost of maintaining the original book. Lemonade’s October 13 filing proposes a 42.3% overall rate increase, including a 50% increase for accident-and-illness coverage and no overall change for preventative coverage. It also proposes tripling annual installment fees from $12 to $36. The filing remained pending and requested a February 19, 2027 renewal effective date.
The actuarial support points to pressure from claims costs. For accident-and-illness coverage, Lemonade projects an adjusted Oregon loss-and-loss-adjustment-expense ratio of approximately 103%—meaning projected claims and claim-handling costs exceed premium before other operating expenses. That is a forward-looking pricing calculation, rather than a reported historical combined ratio.
Customers could face sharply different outcomes. The filing’s rate summary lists individual changes ranging from a 38.8% decrease to a 328.9% increase. Its actuarial memorandum proposes limiting specified company-driven renewal increases to 40% annually, with full pricing applied after four consecutive capped terms. However, the attached rating rules describe a different, 25% cap, leaving an inconsistency to resolve during review.
The filings show strong early adoption and a larger legacy book. They also show that growth has come with a need for substantial repricing—and leave the current size of Lemonade’s combined Oregon pet business unanswered.
