Figo Review

Thursday, May 19th

2022 Pet Insurance Company Reviews

Figo

• 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.

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.