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Figo Review

Sunday, September 19th

2021 Pet Insurance Company Reviews

Figo Review 4.5 Star Rating

Figo

4.5 Star Rating
  • Very affordable plans
  • Unlimited annual coverage available
  • 100% reimbursement available
  • Diminishing deductible
  • No lifetime maximums
  • Customizable with 3 optional riders, including Wellness coverage
  • One-time admin fee of $15

Figo wants to revolutionize the pet insurance industry. As the creator of the first cloud-based approach to pet policies, they've made it easier than ever to keep your pet healthy and happy - and to submit claims for fast payment.

Figo is the only company in our review that offers plans with 100% reimbursement on qualified claims. Combine that with an unlimited annual coverage plan and your pet could be extremely well-covered in the event of a life-threatening accident or disease. Although some customers reported that claims processing had slowed down in recent months, Figo has been quick to respond, apologize, and reassure policyholders that they've gotten it worked out. The most recent customer comments we found confirmed that: claims are being processed and paid in less than a week.

Some pet insurance companies include reimbursement for veterinary exam fees, and others do not. Figo splits it down the middle: if you'd like that coverage for accident and illness visits, you can opt in for a small extra premium each month. Also - you're in luck if you want to insure multiple pets, if you're a veterinary student or staff at a veterinary practice, or are an active member of the military or a veteran. Why? You'll get a discount! You'll also save 5% if you pay for a full year of coverage in advance, rather than month-to-month. All plans have a $15 administrative fee for starting the policy.

Figo's premiums are very affordable. Using our own furry friend, a 7-year-old male Boston mix, we'd pay $19.20 for a policy with a limit of $10,000 in annual benefits, reimbursement at 70%, and a deductible of $1,000. Veterinary exam fee coverage would be an extra $3.91 per month with that plan. On the higher end, we could cover him with a policy offering unlimited annual benefits, 90% reimbursement, and an annual deductible of $500 for just $61.67/month. That premium is an amazing rate, given that most competitor plans at those levels cost twice as much, if not more. Even adding the veterinary exam fee coverage, we'd still pay less than $75 per month.

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Once you've entered your information, Figo makes it very simple to see what you can expect in terms of waiting periods. Just look on the right side of the page. Your pet will need to have been seen by a vet in the last 12 months, because Figo requires you to submit those records to process any claims. But, if your pet hasn't had an exam in the last year, you can still sign up for the policy and take him or her to the vet during the mandatory 14-day waiting period. If knee coverage is important to you, you can waive the 6-month waiting period if your pet has a clear exam within 30 days of your policy start.

When it comes to reimbursements, Figo utilizes a "copay then deductible" model. This actually costs you a little more out-of-pocket for each claim than other pet insurance companies who follow a different model. However - Figo now offers a diminishing deductible. This means that for each year that you're claim free, you annual deductible is reduced by $50.

One nice feature of Figo's pet insurance is their customization options. With each plan, you can add any of the following options:

  • Veterinary Exam Fees for Accident and Illness Visit. This helps cover costs associated with diagnosis and treatment for eligible illnesses or accidents.
  • Extra Care Pack. This covers a variety of expenses such as lost pet advertising & reward, vacation cancellation due to pet emergency, boarding fees, pet theft, 3rd party property damage, and cremation/burial fees.
  • Wellness plans. This can help pay for such routine care as vaccinations, spay/neuter, bloodwork, heartworm prevention, and more. Figo offers two forms of Wellness care - Basic and Plus.

Although every pet insurance company receives its share of complaints regarding denied claims due to pre-existing conditions or premium increases, Figo gets fewer of those than their competitors. It was much easier to find happy customers than unsatisfied ones.

Figo has excellent, affordable coverage options, straightforward pricing, and a cloud-based way to manage your pet's health. This "A" rated, BBB accredited company should be on your short list when it comes to your pet's accident and illness pet insurance plan.

Who Has the Best Pet Insurance?

Medical care is rarely cheap - and the same goes for our four-legged friends. While pet owners are grateful for advances in technology and medicine that make it possible to keep their "fur kids" healthy, these procedures and prescriptions often come with a hefty price tag.

Without pet insurance, a simple blood test can cost well over $200. Even a standard yearly checkup can set you back by hundreds of dollars. How's your wallet feeling now? Chances are, you would do almost anything to take care of your beloved pet - but you might find yourself having to make difficult choices, especially if your dog or cat experiences a traumatic injury or life-threatening illness.

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Pet Insurance Company FAQ

Generally speaking, all ages are welcome when it comes to providing your pet with pet insurance. As the pet gets older rates may be more expensive than if you would have gotten coverage at a younger age. Please keep in mind some companies have age restrictions for when they can accept a dog or cat into their insurance plan. Typical restrictions are around 12+ years of age.
No one can forecast when your dog or cat is going to digest something they shouldn't have or have an accident related injury. Luckily, pet insurance helps to protect the pet owner against unexpected veterinary bills that can reach into the $1,000s.
It is recommended to get pet insurance before winter or summer seasons. During those seasons, there are more dangerous elements that are exposing your pet to potential illness and accidents. As far as age goes for the puppy, insurance companies recommend getting your pet insurance when your new best friend arrives home.
Typically, insurance companies only insure cats and dogs. But some companies will insure dogs, horses, other large animals, cats, other small animals, rodents, reptiles, and birds.
Depending on the company, a pet insurance claim can be sent via several different methods. Methods can include email, fax, or regular mail. When completing a claim make sure to include all of your paid vet bill invoices, and any other required documents. When the claim is processed it will either be accepted with a reimbursement, more information needed (i.e. incomplete claim form), or denial (i.e. due to non-coverable services)
Of course, your pet insurance travels with you, wherever you go. Some insurance companies may have restrictions when it comes to international travel. Make sure to check with your pet insurance company if you plan on taking your furry friend across the border.
It depends greatly on which company and plan you decide to go with. Most pet insurance companies cover accidents and illnesses after a waiting period. If the illness is a preexisting condition, you're likely not to receive any coverage. It's important you understand the fine print of any plan you may decide to go with.
In general, veterinarians do not handle pet insurance claims. Veterinarians and the owner make choices for the pet's medical care and overall health. If the care is covered by the insurance, the insurance company will reimburse the owner a percentage of the bill (depending on the chosen insurance plan's coverage) after the care and service has been performed.
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Continued from above...

Just like their owners, pets can be protected with pet insurance plans that help ease the financial strain of medical care. Pet insurance has become very popular in the last few years, with dozens of companies offering to help you keep your pet healthy for a long time. But, every pet insurance plan is different with respect to deductibles and fees, covered services, and claims processing.

As you decide which pet insurance company is the best fit for you and your pet, keep in mind the following criteria:

  • Cost. What will you pay for your coverage? Is there a deductible, and is it annual or per incident? Will you pay any enrollment fees?
  • Coverage. What services and procedures are covered in the plan you have selected? Does it cover preventative measures like annual checkups? Are there any noteworthy exclusions? Does the company offer a variety of plans to meet your needs?
  • Reputation. Is the pet insurance provider rated by the Better Business Bureau? What do other customers say about their experience? Are claims paid quickly, or do you have to jump through a lot of hoops to file paperwork? Do many claims get denied? Are the company's customer service representatives knowledgeable and friendly?

TopConsumerReviews.com has reviewed and ranked the best Pet Insurance companies available today. We hope this information helps you find the best pet insurance plan for you and your animal companion!

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