Partner Profile: Figo
Published: February 2021
Meet Figo Pet Insurance
As the first technology-focused pet insurance company in the industry, Figo Pet Insurance has captured the attention of tech-savvy, urban pet parents. Fueled by a love for pets, an obsession with technology and an insurance background, Figo’s mission is to offer pet parents an unrivaled experience in caring for their pets. From straightforward plans to an innovative app that makes all-things-pet a breeze, Figo is pet insurance made simple.
Figo Company Overview
Figo Pet Insurance was founded in 2012 and is the largest independent pet insurance provider in the U.S. as of early 2020. Figo has, as they say, “flipped the script” on pet insurance to provide clear plan choices paired with the latest technology.
Figo is located in Chicago and got its start at the notable 1871—Chicago’s hub for technology and entrepreneurship. From those inspired beginnings, Figo continues to utilize technology to change the way people manage the life and health of their pets. They created the proprietary Figo Pet Cloud, the first cloud-based app of its kind in the pet insurance industry. Using this platform of tools and services, pet owners can connect and socialize with fellow pet parents, have 24/7 access to virtual vet visits, and easily access and organize all information related to their pet and insurance plan. See Figo Additional Perks section below for more information on the Figo Pet Cloud.
The Figo team is passionate about making life simpler for pet parents, and they have created a brand that is anything but vanilla in the world of pet insurance.
Figo Plans and Coverage
There are three Figo Pet Insurance plans for dogs and cats, and you can design your Figo plan to suit your situation. All Figo plans provide comprehensive coverage for accidents and illnesses, including services and treatments for emergencies as well as any illness. See Figo Coverage Details section below for more information.
Figo works on a reimbursement model that allows you to use any licensed vet in the U.S., Canada and Puerto Rico. When your pet requires treatment for an injury or illness, take them to the vet of your choice and submit the paid bill to Figo for reimbursement. Depending on how you’ve customized your plan, you could receive up to 100% reimbursement for covered services. At this time, Figo is one of only a few pet insurance companies in the industry to offer 100% reimbursement as an option.
All Figo plans include access to the Figo Pet Cloud, a personalized, interactive, cloud-based technology tool for modern pet parents. With Pet Cloud, Figo offers convenience and connectivity that far exceeds the traditional pet insurance industry norms.
Coverage and Plan Highlights
Dogs / Cats
Accident / Illness
Optional Exam Fee Coverage
Figo Plan Customization Options
Each of Figo’s three insurance plans provides the same expansive list of benefits, but differs in the annual benefit limit. This limit refers to the maximum amount Figo will reimburse for covered accidents and illnesses in a policy year.
Essential Plan - $5,000 Annual Benefit Limit
Preferred Plan- $10,000 Annual Benefit Limit
Ultimate Plan – Unlimited Annual Benefit Limit
In addition to the annual benefit limit, Figo also applies a lifetime benefit limit to the Essential and Preferred plans, while the Ultimate plan has both unlimited annual and unlimited lifetime benefits.
All Figo plans have one annual deductible per policy, rather than a per-incident deductible. The deductible is the amount you pay toward covered expenses in the policy year. Once your annual deductible is met, you are reimbursed for covered claims at your chosen reimbursement level for the remainder of the policy year. Both the deductible and reimbursement level for each plan can be customized.
There are up to six deductible options ranging from $100 to $1,500 depending on your pet's age and where you live, but not all six options are available to every pet (primarily due to age).
There are up to four reimbursement percentage levels to choose from ranging from 70% to 100%, although the 100% option is only available for Essential and Preferred plans with a deductible of $500 or more. The 100% reimbursement level is not available for the Ultimate (unlimited) plan.
Plan Customization Highlights
$5,000, $10,000 and Unlimited
$100, $250, $500, $750, $1,000, $1,500
70%, 80%, 90%, 100%
Note: 100% reimbursement option available for Essential and Preferred plans with deductibles of $500 or more; not available for the Ultimate plan.
Figo Coverage Details
Pet insurance is about the what-ifs of pet ownership, providing coverage for an unexpected illness, injury or health emergency. All Figo plans cover a substantial range of conditions and treatments for accidents and illnesses. Examples include chronic conditions like diabetes and thyroid disease, and hereditary and congenital conditions like hip dysplasia and heart disease. They also cover lab and imaging fees, surgeries, hospitalization, knee conditions, prosthetic and orthotic devices, prescription meds, cancer treatments and more. Unlike some insurance providers, Figo includes coverage for behavioral issues, chiropractic and acupuncture treatments (subject to a capped dollar amount), as well as euthanasia and cremation.
Figo plans do not include coverage for exam fees for accidents and illnesses, something that is provided by some other pet insurance providers. However, for an additional monthly charge, Figo offers what they call a “powerup” optional add-on benefit for exams and/or consultation fees associated with the diagnosis or treatment of an eligible accident or illness.
Like other pet insurance plans, coverage for routine care is not included in your Figo plan. While other pet insurance providers may offer an optional add-on benefit for routine wellness and preventive care, this is presently not available from Figo.
Accidents and Illnesses
Emergency and Hospitalization
Hereditary & Congenital Conditions
Prosthetic & Orthotic Devices
Figo Sample Plan Pricing
The monthly premium for your Figo plan is based on variables that include the age and breed of your pet, your location (zip code for your primary residence), the plan you select, how you customize the deductible and reimbursement amounts, and whether you choose the add-on coverage for exam fees.
Figo’s plan pricing is competitive with other plans in the marketplace, especially considering the benefits included and the option to choose up to 100% reimbursement or to choose an unlimited plan.
Using the lowest and highest plan pricing and customization options, here are Figo sample monthly premiums for a mixed breed dog or cat in an average metropolitan area.
$13.88 – $50.57
$19.19 – $69.86
$22.73 – $80.80
$9.85 – $35.86
$11.55 – $42.05
Figo Enrollment and Waiting Period
Figo Pet Insurance plans are available for dogs and cats ages eight weeks and older that reside in the U.S., although you can use any licensed veterinary practice, emergency hospital or specialist of your choice in the U.S., Canada or Puerto Rico. There is no upper age limit restriction for enrolling your pet in a Figo plan.
Following enrollment, waiting periods apply for coverage of new injuries or illnesses. There is a one-day waiting period for accidents and injuries, 14 days for illnesses, and six months for knee conditions. Coverage does not apply to pre-existing conditions, only to new injuries and illnesses.
Enrollment and Waiting Period Highlights
Minimum Enrollment Age
Maximum Enrollment Age
Accident Waiting Period
Illness Waiting Period
Figo Coverage Exclusions
Like other pet insurance companies, Figo does not cover pre-existing conditions—those conditions that first occurred or showed clinical signs before your pet’s coverage started or during a waiting period. One caveat to note: While no exam is required prior to enrolling your pet in a Figo plan, it is recommended (and could be to your advantage) to submit proof of a vet exam and the related records from within 12 months prior to enrolling. Otherwise Figo may use the first vet exam after your policy’s effective date as a basis for determining your pet’s pre-existing conditions. This could be problematic if your first visit after enrolling is for a new illness or injury—as the claim could potentially be denied as pre-existing.
Other coverage exclusions include routine wellness and preventive care, spaying/neutering, breeding, dental care that’s not related to an accident, prescription food, experimental procedures and cosmetic surgeries. Figo also specifically lists coprophagia (the medical term for “eating poop”) as excluded from coverage.
Breeding, Pregnancy or Giving Birth
Routine, Wellness or Preventive Care
Cloned Pets or Cloning Procedures
Spaying or Neutering
Figo Claims and Customer Service
Figo prioritizes the customer experience to make life easier for on-the-go pet parents. They offer impressive technology-driven support through the Figo Pet Cloud, as well as customer support via text messaging, tweets and live chat.
The Figo Pet Cloud is the fastest way to submit a claim. With the help of Evie, their state-of-the-art artificial intelligence assistant, filing a claim is quick, paperless and convenient. Login from any device, select the Claims icon, upload/attach a copy of your paid invoice and submit your claim. Your veterinarian can then submit your pet’s corresponding medical records electronically. For those who prefer more traditional channels, the responsive Figo Customer Experience team is ready to assist by phone, email and fax.
Claims are processed quickly. Figo’s goal is to process claims in 7-10 days provided a copy of the paid invoice and related medical records are submitted as directed. Many are completed much faster, with 50% closed within 24 hours. Some claims may take up to 30 days. Pet owners receive reimbursement via electronic deposit to their bank account or by paper check if they prefer.
Contact Figo Pet Insurance
Claims Administrator Address
Figo Pet Insurance, LLC 540 N. Dearborn Street, #10873 Chicago, IL 60610
Figo Underwriting and Administration
Figo Pet Insurance policies are issued and underwritten by Independence American Insurance Company a Delaware insurance company rated A- (Excellent) by AM Best (2020), or by Markel American Insurance Company or Markel Insurance Company. Plans are marketed and administered by Figo Pet Insurance, LLC. Plans and coverage may vary by state.
Figo Additional Perks
Through the Figo Pet Cloud, Figo brings insurance and technology together in a way that hasn’t been done before. While some other pet insurance providers have an app for filing claims or account management, Figo goes way beyond the basics of other apps. The Figo Pet Cloud is designed to manage your pet’s entire life all in one place, and is a virtual platform to socialize, connect and explore with other pet parents. Just some of the many features include drag-and-drop vet record management that’s always accessible and synced; appointment reminders; a built-in geolocator for lost pets; and an outstanding guide to pet-centric places, services and community events.
Live Vet 24/7, also part of the Figo Pet Cloud, is another valuable perk. When a concern or emergency arises, Live Vet gives you virtual direct access to a licensed veterinary professional, no matter where you and your pet roam. Speaking of roaming, Figo also provides you with a personalized pet tag that links to your pet’s Figo Pet Cloud profile to reunite you faster if your pet goes missing.
Like other pet insurance providers, Figo offers a 30-day money-back guarantee to give you time to decide if Figo is right for you.
Additional Perks Highlights
10% Multi-Pet Discount
Figo Pet Cloud
Live Vet Access 24/7
30-Day Money Back Guarantee
Figo Final Thoughts
Figo does pet insurance differently, offering flexible insurance plans and pairing them with cutting-edge technology to improve the customer experience. Rather than take a “this is how it’s always been done” approach, Figo empowers pet parents to make care-based rather than cost-based decisions. With innovation at their core, Figo Pet Insurance has created a lifestyle brand to meet the needs of today’s pet owners and their faithful companions. Visit figopetinsurance.com to learn more