Figo Pet Insurance Review 2022

Figo Pet Insurance provides technology-based pet insurance to fit every lifestyle. The company offers three customizable plans and three powerup add-ons designed to cover your pet in even the most unique life circumstances. 

To give you a comprehensive view of Figo, we at the Home Media reviews team have compared multiple pet insurance quotes, hundreds of customer reviews, and dozens of pet insurance companies. We analyzed numerous factors, including coverage options, pricing, add-on packages, customer service, exclusions and more. Learn more about Figo’s pet insurance options so you can determine if it’s the best pet insurance company for you.

These are the key pros and cons we found for Figo’s pet insurance policy:

+ Doesn’t have an upper age limit
+ Has a one-day waiting period for accidents, shorter than most providers
+ Includes access to the Pet Cloud app where users manage their policy, file claims and connect with local pet parents
+ Provides a 100% reimbursement option

– Bases deductibles on your pet’s age
– Increases premiums as your pet gets older
– Won’t insure pets under 8 weeks old

Rusty Sproat founded Figo Pet Insurance in Chicago, Ill., in 2013. He felt existing pet insurance companies lacked technology and adaptability, so he designed Figo to break down complex insurance barriers and accommodate real people in various situations. He also wanted to connect to tech-savvy pet owners by developing the Pet Cloud app with account management, claim submission and social features.

Figo is available nationwide and has reimbursed more than $79.9 million to pet owners across the United States. Its policies are underwritten by Independence American Insurance Company (IAIC), which has an A+ rating from the Better Business Bureau (BBB) and an A- rating from A.M. Best.

Here’s a comprehensive breakdown of Figo’s plans, customization options and add-ons.

Plans

Figo has three accident-and-illness plans, each covering diseases, injuries or emergencies that may affect your pet. The only difference between these plans is their annual limits, which are as follows:

• Essential: $5,000 annual limit
• Preferred: $10,000 annual limit
• Ultimate: Unlimited coverage

Figo’s policies cover diagnostic testing, surgeries/procedures, hospitalization, prescription medications, emergency care, prosthetics and rehabilitation. It’s one of the few providers that covers alternative therapies such as acupuncture, chiropractic care and magnetic therapy. Figo’s accident-and-illness plans also cover vet bills related to the following conditions:

• Injuries such as bone fractures, toxic ingestions and bite wounds
• Serious and minor illnesses such as cancer, infections and diabetes
• Chronic conditions such as allergies, arthritis and seizures
• Hereditary and congenital conditions such as diabetes, heart disease and respiratory disease
• Orthopedic conditions such as a torn cruciate ligament or hip dysplasia

Figo’s Add-ons

Figo offers three optional add-on packages referred to as “powerups.” Each covers different care and costs an additional fee on top of your standard plan.

• Extra Care Pack: This powerup covers unique items such as boarding fees, lost pet advertising and reward fees, and vacation cancellation if your pet has an emergency. It also covers pet theft, end-of-life services including cremation and up to $10,000 for third-party property damage caused by your pet.
• Veterinary Exam Fees: This powerup covers fees associated with vet exams and consultations required to diagnose or treat your pet if it’s ill or injured. It doesn’t cover routine or wellness exam fees.
• Wellness: This add-on covers routine care such as bloodwork, vaccinations, spay/neuter surgery and flea/tick/heartworm prevention. You can purchase the Wellness plan at two levels: Basic (covering up to $135 annually) and Premium (covering up to $250 annually).

Figo’s Exclusions

Figo excludes preexisting conditions, including any accidents or illnesses that occur during your policy’s waiting period. Figo’s waiting periods are as follows:

• Accidents: One day
• Injuries: 14 days
• Orthopedic conditions (such as hip dysplasia): Six months 

Figo will consider covering a preexisting condition if the condition is curable (meaning a one-time illness such as an ear infection or upset stomach) and your pet has gone 12 months without symptoms. 

The following procedures and conditions are excluded from Figo’s coverage: 

• Breeding/pregnancy-related costs
• Cosmetic surgery
• Elective surgery
• Preventive dental care (unless you purchase the Wellness powerup)
• Preventive wellness care (unless you purchase the Wellness powerup)
• Prescription food (unless you purchase the Veterinary Exam Fee powerup)

Figo’s Plan Customizations

Figo offers multiple customization options compared to other providers. You can customize your monthly premium with the following options:

• • Deductibles: Deductibles fluctuate based on your pet’s age and include the following choices:
    • Pets 5 years old and younger: $100, $250, $500, $750
    • Pets between 6 and 9 years old: $250, $500, $750, $1,000
    • Pets 10 years old and older: $500, $750, $1,000, $1,500
  • Annual limits: $5,000, $10,000, unlimited
  • Reimbursement rates: 70%, 80%, 90%, 100%

Pet insurance premiums vary depending on a few factors — primarily your selected deductible, coverage limit, and reimbursement rate, plus your pet’s species, breed, age, gender and location.

Below are some sample quotes we compiled for different dog and cat breeds in Raleigh, N.C., based on an 80% reimbursement rate, $250 annual deductible and $5,000 annual coverage.

Discounts

Figo’s discounts vary by state. We recommend reaching out directly to see which discounts are available in your area.

Costco members can receive a discount on Figo pet insurance by enrolling through Costco’s website. Costco Gold Star and Business Members get 15% off their pet insurance plan. Executive and Business Executive Members also receive a $15 discount, and their enrollment fee is waived.

We compared and analyzed more than 100 customer reviews for Figo Pet Insurance. Customers praised its easy claims submission on the Pet Cloud app, quick claims process and caring customer service team. Unhappy customers cited random price hikes, slow reimbursements and unreasonably denied claims. We reached out to Figo for comment on the negative reviews but did not receive a response.

Below, we’ve included a range of Figo customer reviews from Yelp and Trustpilot:

“We are very pleased with Figo Insurance. Our young Australian Shepherd male had a rough year with three medical issues and we were so happy we had signed up with Figo. Our claims were processed very quickly and payments occurred shortly thereafter. I have told everyone how incredible Figo has been for customer service, claim processing and payment response.” — Pam A., Trustpilot

“My experience with Figo has been really great.  My dog suffers from mitral valve disease and it has been a very stressful period for our family.  It has been such a relief to not have to worry about cost when the vet gives an estimate for what needs to be done. Figo has really been a bright light in the whole experience and it’s because of them that I have not been forced to make that dreaded decision that every pet owner fears and I have the peace of mind that I was able to do everything possible to make her comfortable. I actually am getting to enjoy my dog for a while longer. The claims process is smooth, customer service is always really helpful and friendly, and with the app/website set up, I’m able to easily keep track of the processing of my claims. As far as payment on claims, Figo has really held up their end of the deal. They have paid us back quickly and if there is ever an issue with a claim, they get in touch, so I’m not just left in the dark, waiting.  I’m very happy with Figo and will continue to use them for my pets.” — Jake M., Yelp

“I’ve had a couple different experiences with claims. The first was very frustrating. I was automatically denied a claim because they thought my dog’s allergies were a preexisting condition without even checking in with me. Once I could prove it wasn’t preexisting, they paid my claim. The second experience was excellent. I submitted my claim when my dog was hit by a car, and the next day the claim was closed/paid.” — Dot M., Trustpilot

“We had Figo pet insurance for our older dog for the last three years of her life. When she needed to be hospitalized and have extensive testing and treatment it was a big relief knowing that a portion of the final cost (over $11,000) would be covered. Filing the claim was easy and it was processed and paid within a week and a half. They paid exactly what the policy said they should. I’m dropping one star because the annual price increases meant I had to adjust the coverage options each year. I also wish that the surcharge to cover exam fees wasn’t quite as high.” — Frank M., Yelp

See how Figo Pet Insurance compares to other top pet insurance providers: 

Figo stands out from other pet insurance providers by offering custom options to fit your needs, whether you’re looking for 100% reimbursement, unlimited coverage or comprehensive add-on packages. Figo’s unique use of technology — particularly its Pet Cloud app — also appeals to those who want to easily manage their policy in one place. However, Figo’s higher premiums may not work with your budget. 

We recommend looking into Lemonade or Spot for comparable coverage with budget-friendly premiums. It’s best to get several quotes to find the best pet insurance policy before enrolling.

Our review of pet insurance companies is based on in-depth industry research that includes reading hundreds of customer reviews, simulating the quote and purchasing process, speaking to representatives on the phone to assess the customer service experience and surveying 1,000 dog and cat owners nationwide to determine the most important elements of pet insurance coverage.

We scored each provider on a 100-point scale based on those elements. We then divided the points earned for each provider’s final score on a 5-point scale.

Here are more details about each factor and how they’re weighted:

• Monthly pricing (25 points): How much each company charges for its pet insurance plans is an important part of a customer’s decision. The best pet insurance companies combine comprehensive coverage and plan options with affordable rates.
• Plans (15 points): The top pet insurance companies offer accident and illness plans, accident-only plans and wellness or preventive care add-ons to give customers the option to choose a plan that’s best for their pet.
• Covered treatments (15 points): With this factor, we scored companies based on the treatments and procedures they cover. Companies with a breadth of included treatments and unique coverages received more points than providers with more standard or general policies.
• Customization options (10 points): Customizing your policy is a valuable way to ensure you only pay for what your pet needs. Providers with more annual-limit, deductible and reimbursement-rate options earned the highest scores.
• Customer care (10 points): We scored companies on their website accessibility and overall usability, customer service availability, mobile apps (if any), money-back guarantees and veterinarian telehealth options, awarding points to the insurers with more customer experience offerings.
• Industry reputation (10 points): To determine each company’s industry reputation, we reviewed up-to-date ratings and accreditation information from the Better Business Bureau (BBB) and scored companies on their years of experience in the industry and their state availability.
• Waiting periods (10 points): Companies with shorter accident, illness and orthopedic waiting periods between the sign-up and coverage start date scored higher than companies with longer waiting periods.
• Eligible age (5 points): Some companies don’t offer policies for pets that are over a certain age. We deducted points from providers that have age limits for covered pets.

We use our rating system to compare and contrast each company against key factors to help us determine the best pet insurance companies in the industry. Additionally, we keep our research up to date and revisit our reviews on a regular basis.