They might feel like family, but pets don’t qualify as dependents on your health insurance. Pet insurance gives you an option to pay a modest monthly fee in exchange for dramatically lower costs for your pet’s medical care.
Figo features three pricing plans for accident and illness coverage, while Trupanion offers a sliding scale where you choose your own deductible to find the right combination of price and coverage. If you have a dog or cat at home, keep reading to learn more about the benefits and differences of Figo and Trupanion and which may be the best pet insurance for your budget and pet health needs.
Figo vs. Trupanion: At a Glance
|Illness and Injury Coverage||Yes||Yes|
|Pre-Existing Conditions Covered||No||No|
|Deductible Options||$100, $250, $500, $750||$0 to $1,000|
|Reimbursement Options||70%, 80%, 90%, 100%||90%|
|Optional Add-Ons/Riders||Veterinary Exam Fees for Accident and Illness Visits||Recovery and Complementary Care
Pet Owner Assistance
Figo vs. Trupanion: Coverage
When evaluating any insurance, the first place to look is your coverage options. Figo and Trupanion both feature coverage for dogs and cats, but the way each presents your options is very different.
Figo offers three plans: Essential, Preferred, and Ultimate. Plans all cover an extensive list of annual veterinary needs, including emergency services; hospitalization; and testing and treatment for chronic, hereditary, and congenital conditions, as well as cancer. However, pre-existing conditions are not covered under any plan. Also, Figo doesn’t cover dental cleanings, procedures not related to an accident, or prescription dog food. Depending on your plan, lifetime maximums may apply in addition to annual limits.
The big difference between the Figo plans is the annual coverage limit. When signing up, you can choose between annual deductibles ranging from $100 to $750 and reimbursements of 70% to 100%. Lower deductibles and higher reimbursement levels increase your monthly premium costs.
Trupanion is pet insurance underwritten by American Pet Insurance Company. This insurer has been around for decades and lets you choose your own coverage level on a sliding scale to customize for your budget and needs. For example, a small, one-year-old, male, mixed-breed dog would require a $56.85 monthly payment for a $700 annual deductible or a $171.19 monthly payment for a $0 deductible. You can adjust your deductible in $5 increments and see updated rates as you complete the online application.
Injuries, illnesses, and breed-specific conditions are all covered, but pre-existing conditions are not eligible for coverage. All Trupanion plans cover 90% of eligible costs after meeting your deductible.
Dental illness and preventative dental care are not covered. A lengthy list of other exclusions applies as well. Special limits exist for prescription dog food recommended by a veterinarian.
Both Figo and Trupanion give you the option to buy additional riders or coverage as well. When finding a quote based on information for a small, four-year-old male dog, these additions were offered:
- Figo: Veterinary Exam Fees for Accident and Illness Visits: $8.45 per month
- Trupanion: Recovery and Complementary Care: $13.19 per month
- Trupanion: Pet Owner Assistance: $4.95 per month
Both companies offer extensive coverage for new conditions, so cost is more likely to be your tiebreaking factor between the two.
Figo vs. Trupanion: Enrollment Process
The online enrollment process at both Figo and Trupanion is quick and easy. In both cases, you’ll add information about your pet, sign up and pay, and wait for coverage to begin.
The Figo online enrollment process takes on a fun and light attitude. It’s a process that’s easy to navigate and understand, and coverages and exclusions are clearly laid out during signup. Once you start, there’s a three-day waiting period for accidental injuries, a 14-day waiting period for illnesses, and a six-month waiting period for knee conditions.
At Trupanion, the online experience isn’t quite as modern or friendly, but the essential information is all there. There is a five-day waiting period for injuries and a 30-day waiting period for illnesses.
Overall, both signup processes were clear on costs and easily navigable. But between the two, the Figo signup experience was superior.
Figo vs. Trupanion: Claim Filing
The positive digital experience Figo offers at signup continues through the membership and claims process. You can upload invoices and file claims using the Figo Pet Cloud from your computer, smartphone, or tablet. If you don’t want to file online for any reason, you can also send in a claim by phone, fax, email, or paper mail.
Figo aims to reimburse claims within seven to 10 days in most cases and guarantees a 30-day maximum processing time when additional documentation is required.
At Trupanion, over half of submitted claims are processed in 24 hours or less. That’s pretty impressive. One big benefit is that you don’t always have to pay and get reimbursed. Trupanion works directly with a number of veterinarians and pet hospitals to facilitate a direct payment.
Figo stands out here for a better online claims submission experience, but Trupanion also shines with its direct payment to veterinarians before you even leave the office.
Figo vs. Trupanion: Reviews
Both Figo and Trupanion earn four stars or above at Trustpilot but see differing ratings from other online reviews such as Yelp and the Better Business Bureau (BBB). Here’s a snapshot of how customers have rated these pet insurance companies:
|Trustpilot||4.0 (650 reviews)||4.3 (2,139 reviews)|
|Yelp||3.5 (214 reviews)||2.5 (767 reviews)|
Depending on where you look, either Figo or Trupanion could rate a little higher. Neither had any serious trouble spots outside of occasional negative reviews. For Figo, recent complaints focused on a poor claims experience as well as dramatic rate increases as their pets have aged. Trupanion complaints focused on claim denials due to pre-existing conditions and rate increases.
Figo vs. Trupanion: Costs
Cost is one of the biggest factors when choosing insurance, so it’s important to compare the costs for your specific dog or cat to get the best understanding of what you could expect to pay.
With Figo, Essential pays up to $5,000 per year in benefits, the most popular Preferred plan pays up to $10,000, and Ultimate pays unlimited benefits—a cap of $20,000 applies to the Ultimate plan if you live in Washington or Massachusetts.
To compare rates, we ran quotes for a four-year-old, male Maltipoo.
|Figo Plan Costs||$43.80 per month||$49.21 per month||$51.09 per month|
*For a small dog up to 20 pounds, male, four years old, 90% reimbursement, $250 deductible
|$0 Deductible||$250 Deductible||$700 Deductible|
|Trupanion Plan Costs||$189.60 per month||$103.30 per month||$62.44 per month|
*For a male dog, four years old, spayed/neutered, not a therapy dog
Costs varied a lot based on options like deductibles. But, when trying to eliminate variables and compare apples-to-apples for a dog, Figo was significantly cheaper on a monthly basis with the same 90% reimbursement rate and $250 deductible. Trupanion coverage is a bit more extensive, but not double, which is more or less the price difference between the two in this test.
Bottom Line: Figo vs. Trupanion
Both Figo and Trupanion offer extensive coverage for your beloved dog or cat. When deciding what’s right for your pet, the places to focus are the cost and the coverage level you need. Trupanion had good options for more coverage, including prescription pet food, but it was quite a bit more expensive than Figo for those benefits.
If you’re shopping based on price alone and get similar coverage results, Figo is definitely the better option. But, if you want more extensive coverage and are willing to pay more for it, Trupanion is worth considering.
Frequently Asked Questions (FAQs)
What Are Figo and Trupanion?
Figo and Trupanion are pet insurance providers. Pet insurance is a type of medical coverage that’s commonly offered to dog, cat, and other pet owners. In exchange for a monthly premium, pet insurance pays for a major portion of covered injuries or illnesses after meeting annual deductibles.
How Do Figo and Trupanion Work?
Figo and Trupanion work similarly to other pet insurance companies. When signing up, you choose a plan that works for your budget and pet’s needs. After any necessary waiting periods, you can take your pet to the vet or pet hospital as needed. Depending on the plan and claims process of your insurer, you would then pay for the service and submit a claim for reimbursement or pay a portion of the cost, leaving the insurer to pick up the remainder of the tab.
It’s important to note that waiting periods apply, pre-existing conditions are not covered, and there may be annual or lifetime limits that cap what your insurer pays for your pet’s coverage. That’s why it’s important to carefully read the details when signing up.
Who Should Use Figo or Trupanion?
Many pet owners have the funds to self-insure. This means you pay for any pet medical expenses out-of-pocket as they arise. For those who have healthy pets and significant savings for emergencies, that works just fine.
If you’re concerned about being able to afford medical treatment for your pet should a serious injury, illness, or chronic condition arise, pet insurance may be worth the added monthly cost for peace of mind and financial protection.
How We Evaluated Figo vs. Trupanion
To evaluate Figo and Trupanion, we looked at costs, coverage levels, exclusions, policy limits, the signup process, customer reviews, claims processes, and other details about how these insurers operate. To compare pricing, we got quotes for the same animal in both the Figo and Trupanion websites. Overall, we evaluated these services looking for the best coverage level at a competitive price.