Figo Pet Insurance Review – Help for Your Furry Friend
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If you’ve ever had a pet, then you understand how quickly the vet bills can pile up and cause frustration. The sad truth is that no matter how much love and care we invest into our pets, they are susceptible to accidents and illnesses, just like we are. That’s why pet insurance companies exist. Pet insurance policies can help pet parents recoup the costs of veterinary care and eliminate the need to fret over unexpected vet bills.
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What is Figo Pet Insurance?
Figo Pet Insurance provides pet insurance policies for pet parents and their dogs and cats. The company was launched in 2011 and is known for its unlimited annual limits, 90% reimbursement rate, and quick claims process. It’s also known for its optional coverages and a mobile app that offers 24/7 access to veterinary telehealth services.
Independence American Insurance Company underwrites all Figo Pet Insurance policies.
- Sign up in seconds
- Get paid in minutes
- Get 5% Off for 2 or more pets
- Get 10% off when you bundle
- Get 5% off by paying annually
- Award-winning service
How does Figo Pet Insurance work?
Getting a free quote from Figo is easy and only takes a few minutes. All you need to do is visit Figo’s website and enter your pet’s name to begin the process.
After this, you’ll be brought to a page where you can enter a few additional details.
Once you’ve entered this information, Figo will provide you with the coverage options for your pet. There are a few plans to choose from besides a custom plan option.
There are also optional coverages called Powerups that you can add to your pet’s plan.
If you have more than one pet, you can get quotes for your other pets as well at this point.
When you’ve finished your selections, you can move on to the next step of the enrollment process if you want to purchase Figo pet insurance.
This is where you’ll enter your basic information, including your address and contact information. If you have a secondary pet parent, they can also be added to your account.
Figo offers two billing options — you can pay monthly or annually to save a little bit of money by eliminating the monthly processing fees.
How much does Figo pet insurance cost?
Like most other types of insurance, the cost of Figo pet insurance varies based on several factors. However, when you get a quote, you can review the costs of each coverage option for your pet specifically.
I requested the quote from Figo for my two-year-old dog, Olive. She is an Australian Shepherd mix, and we live in New York. The costs Figo quoted for her coverage were as follows:
Coverage | Cost |
|---|---|
Value plus | $14.90/mo |
Most popular | $40.67/mo |
Higher coverage | $61.36/mo |
To decide which option is best for you, it’s important to review the limits of each coverage option. Here are some factors to be aware of:
Deductible: The deductible is the amount of money you will need to pay out-of-pocket before Figo pays for any of your pet’s eligible veterinary bills. The deductible typically resets annually.
Coinsurance: When you review Figo’s coverage options, you’ll see that Figo will pay a specified percentage of an approved medical cost. You are responsible for the remaining percentage of the bill. For example, if your pet has a vet bill of $100 and Figo pays 80%, you will only be reimbursed for 80% of the cost, which is $80.
After you’ve met your deductible, the coinsurance kicks in, and Figo starts reimbursing for your pet’s medical costs.
Annual coverage cap: Each coverage option comes with an annual coverage limit. This is the maximum amount that Figo will reimburse for your pet’s medical bills within one year. If you want the maximum coverage, you should choose the option with no annual coverage cap. Once you’ve hit your annual coverage cap within a given plan year, you’ll still have to pay to keep your coverage, but you will not be reimbursed for any expenses until the new plan year begins.
Figo pet insurance features
Coverage for common illnesses
Like humans, pets can have minor illnesses that might need treatment. This can include respiratory infections, minor viruses, urinary tract infections, and minor skin irritations. Figo’s pet insurance coverage can help you recover treatment costs for similar illnesses.
Coverages for accidents and emergencies
You never know what’s just around the corner. Your dog might encounter and engage with a porcupine on your walk through the woods, or your cat might accidentally swallow a piece of string during your gift-wrapping session. These scary encounters can lead to an urgent veterinary visit. Figo’s pet insurance can help you handle the costs that come along with these unfortunate situations.
Chronic illnesses
Your pet can suffer from chronic conditions that need treatment as well. This can include allergies, diabetes, and asthma. As long as these illnesses are not considered pre-existing conditions, they could be covered by Figo.
Diagnostic testing
Whether your pet is facing an emergency or a chronic illness, Figo can cover medically necessary diagnostic testing. This may include blood work, urinalysis testing, X-rays, MRIs, and CAT scans.
Cancer treatment
Unfortunately, cancer is not uncommon in dogs and cats. If your pet has active coverage before being diagnosed with cancer, a Figo pet insurance plan may cover the treatment. This can include chemotherapy, radiation, and surgery to remove a cancerous tumor.
Treatment from specialists
Your pet’s medical condition may benefit from a visit to a specialist. If the visit meets Figo’s coverage requirements, you will receive the same reimbursement for specialist visits as you would for a primary veterinarian visit. Figo does not require a referral for specialist vet visits.
Orthopedic coverage
Figo includes orthopedic coverage after the pet has met the 6-month waiting period. This can include coverage for common orthopedic conditions, including hip dysplasia and knee conditions.
Prescription coverage
When your pet is facing a medical condition covered by your Figo insurance plan, their prescriptions can also be covered. Figo covers prescribed FDA-approved medications and an illness or injury covered by the pet insurance plan.
Powerups
Figo offers three optional coverages called “Powerups.” These coverages are not required but can be added to a policy at an additional cost during enrollment or renewal. The Powerups are:
Veterinary exam fees for accident and illness visits
Each time a veterinarian assesses your pet, there is an exam fee. Each veterinarian office sets its own exam fees, but they typically range between $50 and $500. Since the base policy does not include coverage for exam fees, this Powerup can help reduce the cost of your vet bills even more.
Wellness and preventative coverage
Pet insurance typically does not include wellness coverage. With this Powerup, you can receive coverage up to a certain limit for common wellness and preventative services. This includes wellness exams, vaccinations, spaying/neutering, deworming, and microchipping. This Powerup has no waiting period, so it can be used as soon as it is purchased with the base policy.
Extra care pack
This Powerup offers pet parents perks that aren’t necessarily related to medical expenses. Some perks include vacation cancellation reimbursement if you must postpone a trip due to your pet’s illness and boarding fees if you are hospitalized. It also includes third-party property damage liability coverage of up to $10,000 per policy period, which can be used if you are held legally responsible for paying for property damage due to your pet’s actions.
Figo Pet Cloud
Figo Pet Cloud is a mobile app that provides policyholders with additional benefits. One of the main purposes of the app is to make the claims process more efficient. Claims can be filed and tracked within the app, and a virtual claims assistant is available to walk you through the claims process. Another key feature is the telehealth service, which allows pet parents to connect with a live vet 24/7.
Other features of Figo Pet Cloud are centered around making life easier for pet owners. The app can store digital vet records and provide reminders for important pet health services, such as when the pet’s preventatives are due. It can also be used to connect with other pet parents in the area and find pet-friendly restaurants, daycare, grooming services, and more.
- Sign up in seconds
- Get paid in minutes
- Get 5% Off for 2 or more pets
- Get 10% off when you bundle
- Get 5% off by paying annually
- Award-winning service
Who is Figo Pet Insurance best for?
People who have recently adopted a senior pet
Figo Pet Insurance has no upper age limits, so it can provide peace of mind to pet parents no matter how old their pet is at enrollment.
Pet parents who want unlimited coverage
With no annual limit, Figo Pet Insurance policies provide the maximum coverage possible. And since all Figo policies come with unlimited coverage, it eliminates the need for pet owners to decide which level of coverage they want for their pets.
Pet parents who want flexible deductible options
One of the benefits of Figo’s policy structure is that you have full flexibility when it comes to choosing your annual deductible. The policy's monthly cost will change based on the deductible option you choose. However, your reimbursement options are not impacted by your chosen deductible.
Who shouldn’t use Figo Pet Insurance?
Pet parents who want a lower reimbursement rate
While Figo’s 90% reimbursement can be great, some pet parents might prefer a lower rate. A lower reimbursement rate leaves the policyholder responsible for a larger portion of the vet bills. However, a lower reimbursement rate can also lower the monthly cost of a pet insurance policy.
Breeders who want financial assistance
Figo’s coverage does not extend to the costs associated with breeding pets. The breeding process, pregnancy care, and veterinary assistance for giving birth are all excluded from the policy.
Pet parents who can’t afford their pet’s medical situation
Unfortunately, pet insurance plans come with exclusions, and pre-existing conditions are not eligible for coverage. Pet insurance can be beneficial if you purchase it before your pet falls ill or has an accident. However, if a pet has recently fallen ill or become injured, it’s too late to get financial assistance from a pet insurance policy.
Pros and cons
Pros
- The Figo Pet Cloud app offers policyholders 24/7 access to a live chat with veterinary professionals.
- The Powerup options allow pet parents to enhance their policy with a wellness plan and vet visit exam fee coverage.
- According to Figo, most claims processed through the mobile app are closed in less than three days.
Cons
- There is a waiting period of six months for orthopedic injuries.
- While the base policy is available nationwide, the wellness and routine care coverage may not be available in some states.
- The length of waiting periods for accidents and illnesses can vary by state.
Figo pet insurance vs. competitors
Insurer | Reimbursement levels | Annual coverage caps | Optional coverages offered |
Figo Pet Insurance | 70%, 80%, or 90% | $5,000, $10,000, or Unlimited | Vet exam fees; wellness/routine care coverage |
Lemonade | 70%, 80%, or 90% | $5,000, $10,000, $20,000, $50,000, or $100,000 | Vet exam fees, dental illness care, treatment for behavioral conditions, physical therapy, end of life and remembrance |
Healthy Paws | 70%, 80%, or 90% | None | N/A — comprehensive base plan |
PetPartners | 70%, 80%, or 90% | $2,500, $5,000, $7,500, $10,000, $15,000, $20,000, or Unlimited | Wellness care, exam & office visit fees, inherited & congenital conditions, end-of-life care |
Trupanion | 90% | Unlimited | Recovery and complementary care, Pet owner assistance |
Lemonade
Lemonade is a popular online insurance provider. Known for its affordable pricing and easy-to-understand policies, the insurer offers renters, homeowners, car, life, and even pet insurance. Like other pet insurance providers, Lemonade offers policies for dogs and cats.
The most important thing to understand about Lemonade’s pet insurance policies is that the base policies are relatively bare-bones. Base policies cover new accidents or illnesses after the policy becomes active. This can include diagnostics such as x-rays, emergency surgery, and prescription medications.
In addition to the base policy, five add-ons can be added to your pet’s coverage for an additional charge. This includes:
- Vet visit fees are often a flat fee that a veterinarian charges for its time and labor, in addition to the diagnostics and procedures during an appointment.
- Physical therapy, acupuncture, and hydrotherapy for helping a pet recover after an injury.
- Dental illness coverage for procedures such as tooth extractions and treatments for periodontal disease.
- Behavioral conditions can help cover the cost of vet-recommended therapy and medications for behavioral conditions such as anxiety and aggression.
- End-of-life and remembrance to help cover the costs of vet-recommended euthanasia, cremation, and commemorative items.
Lemonade does not offer coverage for pre-existing conditions like other pet insurance providers. There is also a waiting period of two days after purchasing the policy. The pet insurance policy covers no accidents or illnesses during the waiting period.
Healthy Paws
Healthy Paws is popular among pet lovers for good reason. This insurer offers a simple plan option that is all-encompassing. It also sets itself apart by having no annual or lifetime limits on its coverage.
One of the benefits of Healthy Paws is that you don’t have to look through add-on coverage options before purchasing a policy. This means you won’t be wasting time comparing quotes and deciding whether the extra coverage is worth the extra financial cost. You also won’t have to worry about picking a coverage limit since there is none!
Healthy Paws offers coverage for anything a pet parent might need. This includes accident and illness coverage, as well as coverage for hereditary conditions and congenital conditions. Policies also include coverage for alternative treatments and specialty care.
While the single policy can make the process of enrolling quicker and easier for pet parents, it does mean that there are some things that Healthy Paws does not offer. Healthy Paws does not offer coverage for dental healthcare, behavioral treatment, vet examination fees, or wellness and preventative care. Like other pet insurance providers, Healthy Paws has a waiting period in most states and does not cover pre-existing conditions.
PetPartners
PetPartners is unique in that it offers pet insurance plans for individuals, employers, and other organizations that may want to co-brand a pet insurance policy. You can learn more about the insurer’s policies on its website but cannot get a full quote online within minutes. Unlike most pet insurance providers, you must speak with someone on the sales team to get a quote.
With PetPartners, you can choose from two base coverage options — Accident & Illness or Accident Only. The insurer classifies accidents as broken bones, bite wounds, toxic ingestion, and eye injuries. With Accident & Illness coverage, pets also receive coverage for conditions such as allergies, hypothyroidism, digestive issues, urinary tract infections, and cancer.
Regardless of your base coverage, you will have coverage for most of the costs associated with a covered condition. This includes emergency care, diagnostic tests, prescription medication, and surgery. It can also cover the cost of physical therapy and hospitalizations.
Every base plan includes some level of coverage that you may not be able to find from some competitors. This includes coverage for alternative medicines and therapies and up to $1,000 of behavioral condition coverage annually. However, coverage for hereditary conditions such as hip dysplasia is not covered in the base plan, though it can be purchased as an add-on to the policy.
Trupanion
Trupanion is an insurer that offers well-rounded coverage at an affordable price. All policyholders receive unlimited coverage, meaning there is no maximum amount that you can be reimbursed. The policies also have a 90% reimbursement rate after the deductible is met.
There are a couple of ways you can customize your Trupanion policy. The first is by choosing your deductible. Trupanion offers a deductible amount of anywhere from $0 to $1,000. The deductible you choose will impact your monthly premium — the higher the deductible, the lower the monthly premium will be.
Additionally, Trupanion offers a couple of optional coverages. The recovery and complementary care package includes coverage for what is often considered alternative therapies, including acupuncture, hydrotherapy, and physical therapy. It also offers coverage for behavioral modification. The pet owner assistance package is a unique option that offers coverage for expenses that aren’t directly related to your pet’s medical care. This includes boarding fees if you’re hospitalized and unable to care for your pet, holiday vacation cancellation costs, and cremation or burial for the pet if it passes away due to an accident. It can even help with the advertising and reward costs associated with a lost pet.
Even without these packages, the Trupanion base policy offers good coverage. The policy covers accidents and illnesses as well as hereditary and congenital conditions. Diagnostic tests, surgeries, medications, and hospitalization are also covered. Trupanion even offers coverage for advanced dentistry if it’s needed. That being said, there is no coverage for veterinary exam fees or wellness care, so keep that in mind if those features are important to you.
- Sign up in seconds
- Get paid in minutes
- Get 5% Off for 2 or more pets
- Get 10% off when you bundle
- Get 5% off by paying annually
- Award-winning service
FAQs
What do pet insurance companies mean by curable and incurable conditions?
Pet insurance companies are known for not offering coverage for pre-existing conditions. However, some pet insurance companies — including Figo — may cover curable pre-existing conditions in some circumstances. Your pet must remain symptom-free for 12 months before your claim to receive coverage for these conditions. According to Figo, curable pre-existing conditions may include respiratory, ear, urinary tract infections, and gastric upset. Incurable conditions include cancer, diabetes, heart disease, arthritis, allergies, and orthopedic conditions. Incurable pre-existing conditions are not eligible for coverage at any point.
Can pets get pet insurance coverage even if they have a pre-existing condition?
Pre-existing conditions do not disqualify a pet from receiving coverage from a pet insurance policy. It means the pet cannot receive coverage for vet bills related to the pre-existing condition. The pet insurance policy can still help offset the costs of diagnosing and treating conditions that occur after the waiting period is over.
Which veterinarians accept Figo?
Figo extends its coverage to any licensed veterinarian worldwide. This includes primary care veterinarians, emergency veterinarians, and specialists such as dermatologists or oncologists.
The bottom line
If you’re interested in purchasing a pet insurance policy for your dog or cat, Figo is a good option. The company is well-established and has a good reputation among the veterinary and pet communities. Figo’s policies offer a wide range of coverage in all 50 states and Washington D.C. Additionally, the Powerups allow pet parents to enhance their pet’s coverage.
Like any insurance, you should compare companies and coverages to find the right fit for you and your pets. Fortunately, most pet insurance companies make it easy to get a free quote online, which you can use to help you make your decision. You can also find sample policies and explanations of pet insurance benefits on most pet insurance company websites. Reading through these documents can help you make sure you’re getting what you want out of your coverage.
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Ashley Hart is a lead copywriter and digital marketing expert covering finance, law, real estate, music, entertainment, health and wellness.
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