Figo pet insurance review 2023

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If you’re looking to insure your dog or cat and want a company that seems to be tech-friendly, Figo could be a good choice.

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If your dog or cat, unfortunately, gets sick or gets injured in an accident, vet bills can add up fast. But if you have pet insurance, you may be able to reimburse yourself for at least some of these costs. And unlike with most human health insurance plans, you generally have the leeway to visit whatever vet you want (though there could be a few restrictions to consider).

For those in the market for pet insurance, you may be wondering how Figo pet insurance stacks up. In this Figo pet insurance review, we’ll take a look at some of the top pros and cons of this provider to help you decide if it’s a good fit. 

If you’re in the market for pet insurance then start by getting a free quote so you know exactly what to expect.

Overview of Figo pet insurance

If you’re looking to insure your dog or cat and want a company that seems to be tech-friendly, Figo could be a good choice.

This pet insurance company offers accident and illness plans, as well as several add-ons like for wellness coverage or for ancillary services like covering some burial or cremation costs.

Overall, plans are a little on the pricey side, but Figo might be worth it for pet parents who want benefits like coverage for curable pre-existing conditions as well as fun features like being able to connect with nearby pets. Plus, its tech emphasis could make things like filing claims easier for some people.

Figo pet insurance cost vs. competitors

Figo is on the higher end of pet insurance costs compared to competitors, and while it’s the most in the sample quote chart below, that’s not to say that it’s always the most expensive.

Depending on the specifics like the breed and how you customize coverage (e.g., adjusting reimbursement limits, reimbursement percentages, and deductibles), you might end up paying more with other pet insurance providers. Plus, Figo has some unique features, like an AI claims assistant, and its included Pet Cloud offering provides services ranging from telehealth to networking with other pet parents in your area. 

Not sure what a Figo pet insurance plan would cost you? You can get a free quote in less than 60 seconds by answering a few brief questions.

Cost comparison

Here’s a side-by-side pricing comparison using a Figo plan to compare against the competition.

Figo

Lemonade

Fetch

Pets Best 

Monthly Cost for Dogs

$95.40

$52.49

$59.45

$54.58

Monthly Cost for Cats

$47.30

$34.17

$38.11

$35.54

Annual Limit

Unlimited

$100,000

$15,000

Unlimited

Reimbursement Level

80%

80%

80%

80%

Annual Deductible

$250

$250

$300 for Dogs/$250 for Cats

$250

Discounts for Insuring Multiple Pets

5%

5% (10% bundle discount with other types of insurance)

None

5%

Based on a 1-year-old mixed breed male dog (medium weight) and a 1-year-old mixed breed female cat in New York City, with vet exam fee coverage for qualifying events. Rates are for illustrative purposes only and may vary based on your circumstances.

Figo pet insurance pros

Figo pet insurance policies offer many advantages, such as the following:

  • No upper age limits: As long as your dog or cat is at least eight weeks old, they can get covered under Figo. So if you’re worried about age limits, Figo could be a good option to get your senior furry friend covered.
  • Customizable policies: Figo also offers a range of customizations. In addition to choosing factors like annual limits, you can also add coverage for veterinary exam fees due to an accident or illness. Another option is to include wellness coverage, which can help cover some of the costs for things like wellness exams and vaccines. You can also add what Figo calls the “Extra Care Pack,” which can cover things like lost pet advertising/rewards and third-party property damage liability, though there are some nuances to look into if you go this route.
  • Short waiting period: Another Figo pet insurance advantage is that it has relatively short waiting periods. Coverage for accidents can kick in within one day of purchasing the policy, and for illnesses the waiting period is 14 days. Getting a healthy orthopedic exam can also waive the six-month waiting period for orthopedic conditions. Plus, if you need to make a claim, Figo says that it pays these out in 2.6 working days on average, so you might not be left waiting very long to reimburse yourself.
  • Option for 100% reimbursement: If you want to really minimize the amount you’d pay due to an accident or illness, you could go with Figo’s 100% reimbursement option for some plans. While this makes premiums higher, you might find that it’s worth it for your situation.
  • 24/7 live vet chat: Using Figo’s app, you can chat via live text directly with a vet at any time. So if you’re worried about your dog or cat, you can ask questions to help you figure out what to do next.
  • Pet Cloud: In addition to veterinary telehealth, Figo offers several tech-forward features within what it calls the Pet Cloud. There, you can handle things ranging from working with an AI claims assistant to storing your pet’s digital records to finding pet-friendly places near you. 

If these benefits sound advantageous to you then start the process with Figo by getting a free quote today.

Figo pet insurance cons

Despite the many Figo pet insurance advantages, there are also a few pet insurance cons to consider, including:

  • Relatively high costs: Figo tends to have relatively high premiums compared to several other providers. Although you might get some unique benefits with Figo, not everyone wants all of these features and would prefer a lower-cost plan.
  • Add-ons can be complex: While some providers offer more of an all-in-one plan, or have certain benefits available within different tiers, the optional add-ons for Figo can be both helpful and confusing, depending on your perspective. For example, rather than having coverage for vet exam fees due to an accident or illness as part of a base plan, you would need to select this optional add-on for an extra cost. So, if you choose this insurer, you’d want to make sure you read the inclusions carefully as you customize your plan.
  • High reimbursement levels: Some people might see the high reimbursement levels — from 70-100% — as a positive, but that can also make policies more expensive. An insurer with a 50% reimbursement option, for example, might be able to offer lower premiums in exchange for this shared financial cost.

The bottom line

If you’re willing to spend more money on a pet insurance policy that can have broad coverage, as well as potential benefits like fast claims and fun features, then Figo could be right for you. And for some pet parents, being able to get covered for what’s considered to be a curable pre-existing condition, for example, could make up for cost differences compared to some other plans. 

That said, you might want to shop around with other pet insurers to see how their coverage terms and costs stack up. From there, you can decide on the cost/benefit balance that makes the most sense for you and your pet. Start by getting a free price quote from Figo to see if their plans work for you.

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