Figo Pet Insurance Review 2020: The Best Coverage For Pets?

If you’re always looking to make your life easier with technology, Figo Pet Insurance might be for you.

In fact, the customer feedback I’ve received after releasing my previous pet insurance review, was that Figo was incredibly convenient.

But apart from convenience, us pet owners still need things like coverage, fair premiums, and quick reimbursements.

So how does Figo Insurance stack up in those areas?

I’ll take you through everything you need to know about the company, and whether I think it’s a good option for pet insurance.

About Figo Pet Insurance

Figo is a national pet insurance company that got its start in Chicago’s technology facility – 1871.

The Figo founders had a passion for technology and pets, which they wanted to merge to make owning a pet easier for pet owners.

Throughout their growth and journey, they have always remained true to their roots and their passion to help pets and families enjoy one another.

The Highlights

  • Provides pet insurance for both dogs and cats
  • Starts insuring pets at just 8 weeks
  • There is no age limit for coverage
  • Figo only charges an annual deductible, no a per-incident deductible
  • Option to pay for coverage for exams
  • Offers easy online claim filing
  • Offers a Pet Cloud that stores all important documents and information for your pet
  • Offers deductibles of just $100
  • Offers reimbursement levels up to 90%

The Pet Cloud

Figo is proud to be a ‘cloud-based insurance company.’ The Pet Cloud provides access to all of your pet’s records with the touch of a button. This cloud service includes:

Access to your documents

So you don’t lose track of your pet’s important documents, such as immunization records, medical records, vet bills, or claim documents.

Store them all easily by snapping a picture or sending them from your personal @mypetcloud.com email.

Having your documents in one place makes it easy to share records with emergency veterinarians or specialists.

Live vet 24/7

Get access to a ‘real live’ vet in seconds via the Pet Cloud.

Receive advice on treatment you can do at home or get reassurance that heading straight to the nearest emergency clinic is the right choice.

You can chat with a vet within seconds, helping you make important decisions about your pet’s health.

Reminders

Get friendly reminders about immunization expirations, birthdays, and any other information you input that you don’t want to forget. The reminders pop up right on your phone, making them hard to forget.

Connect and explore

What better way to enjoy your pet than to connect and explore the other pet parents and pet-friendly places in your area?

The Pet Cloud helps you find local pet parks, dog walking services, daycare, pet-friendly stores and restaurants, and so much more.

This is handy both in your hometown and when you take your pet with you when you’re on the road.

What Does Figo Cover?

Like most pet insurance companies, Figo covers new injuries or illnesses that your pet didn’t show previous signs of or have a diagnosis of before coverage began.

The covered injuries, illnesses, and expenses include:

  • Emergency vet visits
  • Hospitalization
  • Visits to veterinary specialists
  • Inherited illnesses and diseases
  • Congenital conditions
  • Chronic illnesses and diseases
  • Treatment of cancer
  • Medical tests including x-rays/imaging
  • Knee injuries/conditions
  • Orthopedic visits
  • Hip dysplasia

Figo also offers optional coverage including:

Exam fees

For a few extra dollars a month, you can add exam/consultation coverage to your plan.

The exams and consultations covered only apply to those dealing with diagnosis or treatment of a covered injury or illness (not wellness care).

Rehabilitation 

If a vet prescribes rehab as a part of the treatment plan for a covered injury or illness, this plan may help cover it.

It’s an extra cost each month, but it includes therapies such as cryotherapy, heat therapy, and laser therapy.

If you don’t opt into the exam fees coverage, that portion of the bill will be excluded from your coverage options.

In other words, you’ll pay your deductible, plus the exam fee, plus your portion of the bill, called the co-pay.

What Figo Doesn’t Cover

Like most pet insurance companies, there are some injuries or illnesses Figo doesn’t cover.

Most importantly, they don’t cover pre-existing conditions, which includes any conditions your pet had before you bought coverage as well as those occurring during the mandatory waiting period.

Figo Pet Insurance also doesn’t cover wellness care, which includes all preventative care, routine care, and immunizations.

In addition, Figo doesn’t cover:

  • Spaying or neutering
  • Breeding or birth
  • Elective cosmetic procedures
  • Experimental procedures
  • Treatment for ‘coprophagia’ or eating poop

Figo’s Coverage Plans

Figo offers three plans, but they all cover the same injuries and illnesses. The difference is in the annual benefits provided. All coverage plans offer:

  • Access to the Figo Pet Cloud
  • No per-incident maximums
  • No age limit on claims
  • Coverage for knee issues
  • Coverage for hip dysplasia
  • Coverage for surgeries and hospitalizations
  • Coverage for prescriptions
  • Images and labs for injuries or illnesses
  • Accidental dental treatment
  • Natural treatments including chiropractic and acupuncture
  • Behavioral treatment
  • Euthanasia and cremation

The difference between the Essential, Preferred, and Ultimate Plans are the annual benefits:

  • Essential – $5,000 per year maximum
  • Preferred – $10,000 per year maximum
  • Ultimate – No annual maximum

It’s important to know that you should always submit a claim to Figo for any covered services even if the amount doesn’t exceed your deductible.

Any amount you pay will go toward the deductible, which means any future visits won’t be subject to the deductible.

Costs

Figo offers a variety of options that help make your pet insurance the most affordable:

  • Choose between a 70%, 80%, 90% or 100% reimbursement level
  • Choose between a $100, $250, $500, or $1,000 deductible
  • Add optional coverage (wellness or rehab)

Figo’s pet insurance rates are average compared to other companies. Where they really shine, though, is the vast option of deductibles and reimbursement options.

Deductibles

Just as a reminder, the deductible is the portion of the bill you are responsible for before Figo will reimburse the covered expenses.

If you have a $500 deductible, for example, you must cover the first $500 before Figo will send you reimbursement.

Reimbursements

The reimbursement percentage pertains to the amount of the covered expenses Figo will cover.

For example, if your bill is $5,000 and you have 80% coverage with a $500 deductible, it would look like this:

  • You pay the entire bill
  • Figo covers $3,600 ($5,000 – $500 x 80%)
  • Figo sends you $3,600, leaving you with $1,400 of the bill

Waiting Periods

Figo, like most insurance companies, has a waiting period for different circumstances:

  • Coverage starts at 12:01 AM on the day following the day you pay for coverage
  • Accidents have a 3-day waiting period
  • Illnesses have a 14-day waiting period
  • Knee injuries have a 6-month waiting period

Submitting a Claim

Figo makes it easy to file claims – everything is done right on your phone or computer.

  • Log into your Pet Cloud from your phone, computer, or tablet
  • Click on ‘Claims’ and answer the questions asked
  • Take a picture or upload your vet bill that shows that you paid in full
  • Figo handles the rest

Keep in mind that you’ll need to ask your vet to upload the medical records for the last 2 years. This includes all records and notes.

Your vet can email the documents to your Pet Cloud using your provided personal email address or fax the documents to 773-796-4907.

Your vet may also email the records directly to Figo at medicalrecords@insurefigo.com.

Figo processes claims within 30 days of receipt, but they aim to process all claims within 10 days.

This only pertains to claims that have all required information, though. Omitting any information can delay the processing.

Pros & Cons

Pros:

  • Figo doesn’t have a per-incident deductible; you pay one deductible each year
  • You can opt for exam fee coverage
  • It’s simple to file a claim
  • Fast claims processing
  • You can visit any vet in the U.S., Canada, or Puerto Rico
  • Figo covers emergency visits and specialist visits
  • Short waiting periods

Cons:

  • It can take up to 7 days for a pre-authorization if you want to know how much (if any) of an upcoming procedure Figo may cover
  • Your premiums will increase as your pet ages
  • Figo doesn’t have a wellness or preventative care plan
  • Figo may charge administrative fees upon account setup and monthly depending on the state you reside

FAQ’s

How does Figo calculate your premium?

Figo uses a variety of factors when determining your pet’s premium including the:

  • Pet’s age
  • Type of pet/breed
  • Your location
  • Chosen plan
  • Chosen deductible
  • Any applicable discounts
  • Any optional coverage you added

Are there age requirements for Figo pet insurance policies?

In order to be eligible, your pet must be at least 8 weeks old. Figo doesn’t have any upper age limit restrictions.

Figo does suggest senior wellness testing for pets over age 8 if you decide to renew your policies.

When does your policy start?

Your policy begins at 12:01 AM on the date following the day you sign up for Figo coverage.

How does Figo determine pre-existing conditions?

Figo considers a pre-existing condition any injury or illness that existed before your pet’s insurance began or that occurred during any required waiting periods.

This includes any signs or symptoms your pet exhibited for the condition. It doesn’t have to be a diagnosed condition – the onset of symptoms is what Figo considers.

Does Figo cover vaccinations?

No, Figo doesn’t cover any wellness exams or preventative treatments including vaccinations.

Does Figo cover dental procedures?

Figo only covers dental procedures that are necessary as a result of an accident. In other words, they won’t cover routine dental care but will cover dental emergencies.

Is Figo pet insurance available in Canada?

Yes, you are free to use licensed veterinarians in Canada with Figo insurance.

Reimbursement Stories

Denior the Bulldog

Denior, the bulldog, is one of the pets insured by Figo. Denior was normally a healthy dog that loved people. One day, he started vomiting after every meal.

His owners knew something was wrong, so they brought him in for emergency care which quickly turned into a nightmare of emergency vet visits, hospitalizations and numerous treatments, including chemo treatments for liver enzyme issues.

When it was all said and done, the vet bills totaled $13,000. Fortunately, Denior’s parents had 90% coverage on Denior.

This meant Figo covered a large portion of the bill, leaving Denior’s parents with a smaller financial liability and more peace of mind that they could afford whatever treatment Denior needed.

Max’s Emergency

Max started a nice sunny day at the dog park, but it quickly turned into a traumatic visit when he met with a rattlesnake and the snake won.

Max’s owners quickly rushed him to the vet where he required emergency care.

Max needed several doses of anti-venom as well as to stay in the hospital. He also needed aftercare, which when all said and done would cost around $8,000.

Fortunately, Max’s parents had Figo pet insurance and they only had to pay 10% of the bill because they opted for 90% coverage at a time when they didn’t know Max would ever face an emergency.

It only took five days for Max’s parents to receive the reimbursement and we are happy to say that Max is doing well today.

Should You Choose Figo?

Figo Pet Insurance is one of the leaders in the pet insurance industry. Like any insurance policy, though, you should shop around to find the policy that suits your pet’s needs the most.

Their premiums are right along the lines of other major insurance companies, but they do have some exclusions including wellness coverage that may make you want to look elsewhere.

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