The global pet insurance market is anticipated to reach a value of more than $16 billion by 2030, with a projected compound annual growth rate of 14.3%, according to Allied Market Research. (Credit: Justyna/Adobe Stock) The global pet insurance market is anticipated to reach a value of more than $16 billion by 2030, with a projected compound annual growth rate of 14.3%, according to Allied Market Research. (Credit: Justyna/Adobe Stock)

Lemonade, Inc. is extending into Massachusetts with its pet insurance lines, which account for 15% of the company’s broader book of business, the insurtech tells PropertyCasualty360.com. The company now offers its pet lines, which exclusively cover dogs and cats, in 37 states.

Intending to offer its pet insurance in every state, Lemonade reports it is planning to roll out its programs on a state-by-state basis. Massachusetts was selected because the state saw a surge in pet ownership during the pandemic and an uptick in pets available for adoption following nearby storms.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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