Figo Pet Insurance: A Comprehensive Review
Figo pet insurance offers robust coverage options for dogs and cats, earning high marks from financial experts. This review, based on NerdWallet’s assessment, dives into the specifics of Figo’s plans, coverage, and the customer experience.
Figo Pet Insurance: NerdWallet’s Rating
- NerdWallet Rating: 4.5/5
- NerdWallet’s ratings are determined by their editorial team, taking into account consumer complaints and customer satisfaction data.
Key Features
- Annual Max Coverage: Unlimited
- Figo offers the highest coverage limit available.
- Reimbursement Rates: 70%, 80%, 90%, 100%
- Several reimbursement options exist to cover vet bills after meeting your deductible.
- Deductibles: $100 – $1,500
- Choose a deductible that suits your budget and needs.
- Policy Highlight: The mobile app provides a wide range of useful features for pet owners.
Pros and Cons
Pros:
- No upper age limit for pets.
- Unlimited annual coverage is available.
- Offers multiple reimbursement choices, including 100% for some pets.
Cons:
- Doesn’t offer an accident-only plan, which is generally a more affordable option than comprehensive plans.
Bottom Line:
Figo provides extensive coverage, a selection of deductibles, and generous reimbursement options. It is a solid choice for pet owners seeking comprehensive coverage.
Who should consider Figo?
- Those who want a 100% reimbursement option.
- Costco members may be eligible for a discount.
Why Trust NerdWallet
NerdWallet follows strict editorial guidelines to ensure fairness and accuracy when evaluating financial products. Their analysis includes:
- Over 1,000 rates analyzed by specialists
- Evaluation of more than 25 insurance companies (see NerdWallet’s top picks).
About Figo Pet insurance
Figo earns a strong 4.5-star rating:
- NerdWallet’s ratings are determined by an editorial team, considering financial strength, coverage options, customer experience, discounts, and more.
Figo’s accident and illness plans are customizable and come with several advantages. For example, your deductible might decrease by $50 yearly if you haven’t filed a claim. The company also provides an app to manage your pet’s well-being, with features like:
- Health reminders
- 24/7 access to a veterinarian through chat
- Medical record viewing
- Claims filing and tracking
Figo’s coverage includes:
- Orthopedic conditions
- Prescription medication
- Non-routine dental treatment
- Cancer treatments
However, there are some limitations. Prescription food and sick exam fees are only covered with plan upgrades. Supplements aren’t covered, and an accident-only plan is unavailable.
Figo has partnered with Costco; their members may receive a discount on policies.
Figo Pet Insurance Plans and Coverage
Figo’s accident and illness plan covers a variety of conditions and treatments, including:
- Orthopedic conditions (ACL injuries, hip dysplasia)
- Rehabilitation administered by vets
- Mobility Devices
- Medically necessary surgeries
- Prescription medications
- Veterinary specialist treatments
- Diagnostic tests
- Non-routine dental treatment
- Behavioral training and medication
- Holistic and alternative treatments
- Euthanasia
- Emergency services and hospitalization
- Hereditary and congenital conditions
- Chronic conditions
- Cancer treatments
Powerups:
Depending on your location, you can add extra coverage with “Powerups.” These include:
-
Wellness Powerup:
- Annual checkups
- Vaccinations
- Spay/neuter surgery and dental cleaning
- Tests (blood work, urinalysis)
- Microchipping and health certificates
- Deworming
-
Veterinary Exam Fees Powerup:
- Prescription food for covered illnesses
- Veterinary exam fees
Important Note: Availability and coverage options may vary based on your location, your pet’s age, and breed.
What’s Not Covered
Figo plans do not cover:
- Pre-existing conditions (unless cured with no symptoms for 12 months).
- Experimental procedures
- Breeding, pregnancy, and giving birth
- Cloned pets or cloning procedures
- Cosmetic surgery
- Most parasites
Figo Plan Options
- Deductibles: Ranging from $100 to $1,500 annually.
- Reimbursement Amounts: Choose from 70%, 80%, 90%, or 100% reimbursement.
Reimbursement Calculation: Figo applies the reimbursement to your eligible vet expenses before subtracting the deductible. For instance, if your vet bill is $1,000, with 80% reimbursement and a $100 deductible, your reimbursement is calculated as follows:
- $1,000 x 0.80 = $800
- $800 – $100 = $700 total reimbursement
In this scenario, you would pay $300. Other pet insurance companies handle this calculation differently, which results in slightly better payouts.
Coverage Limits: Can select annual coverage limits of $5,000, $10,000 or unlimited.
Restrictions & Waiting Periods
- Age Restrictions: Minimum of 8 weeks old for pets.
- Waiting Periods:
- Accidents: Generally one day
- Illnesses: 14 days
- Orthopedic injuries: Six months for dogs (can be waived with a vet’s exam).
Figo Pet Insurance Sample Rates
The cost of Figo pet insurance varies depending on location, coverage chosen, and your pet’s breed and age. Here are estimated monthly premiums for Katy, Texas, based on accident and illness coverage with a $250 deductible, $5,000 annual coverage, and 80% reimbursement.
Sample Monthly Premiums for Dogs in Katy, Texas:
Sample Monthly Premiums for Cats in Katy, Texas:
Figo Pet Insurance Discounts
- A 5% multi-pet discount is available.
- A 5% military discount (in most states) is also offered.
State Availability
Figo sells pet insurance in all 50 states and Washington, D.C. Availability may change at any time.
Consumer Experience
- Website: Easy to navigate, with a comprehensive FAQ section. Figo’s Pet Cloud web portal can be accessed for policy management.
- App: The Figo Pet Cloud app enables users to upload and share medical records, view policy information, file and track claims, get health reminders, use pet tags, and connect with area pet owners. The app also provides 24/7 access to a veterinarian via its live chat.
- Claims: Claims can be filed through the app, phone, email, or fax. Figo usually processes claims within 30 days. The status of claims can be tracked via the Pet Cloud app or web portal.
- Customer Service: Customer service is available at 844-738-3446 from Monday through Saturday. Support is also reachable through email, text, fax, or chat.
Figo Pet Insurance vs. Competitors
Here’s how Figo compares to other popular pet insurance companies:
-
Figo vs. Healthy Paws: Both offer accident and illness policies with potentially no annual coverage limits, Figo offers more plan options, including wellness packages, exam fees, prescription diet coverage, and behavioral modification coverage, something Healthy Paws doesn’t. Figo has no upper age limits, which is a benefit against Healthy Paws, which won’t insure pets age 14 and older.
- Figo covers hip dysplasia for all ages, while Healthy Paws covers it only for pets under 6 years old at the time of enrollment. Also, Figo provides a 100% reimbursement option for all expenses, which Healthy Paws doesn’t. Healthy Paws allows direct payment to veterinarians, whereas Figo doesn’t.
-
Figo vs. Trupanion: Both have accident and illness plans with no annual limits. Trupanion doesn’t offer wellness coverage, thus unable to pay for preventative care and services. Trupanion offers lower reimbursements (90% in most states) compared to Figo’s 100% option, but Trupanion’s deductible is per condition, rather than per year like Figo.
-
Figo vs. Nationwide: Both companies offer customizable accident and illness plans. Figo’s plan can reimburse up to 100% of vet bills, while Nationwide covers between 50% to 80%. Both offer 24/7 vet support.
Coverage Options Comparison
Conclusion
Figo pet insurance provides comprehensive coverage options, offering versatility in reimbursement rates and generous discounts. Its customizable plans and user-friendly app contribute to a positive customer experience. Pet owners should carefully review the plan details to assess if Figo’s offerings align with their specific needs and budgets.
