Figo vs Trupanion: Comparing Prices, Coverage & Deductables


Let’s face it, pets are expensive. Even if you keep your animal inside most of the time, health problems still arise and many times they come without warning. What you’re left with is a sick pet, limited income, and high stress levels. That’s where pet insurance comes in.

Pet insurance offers reimbursement for your pet should it fall ill. At least, that’s the most basic definition of pet insurance. Each pet insurance company is different.

Today, we’re comparing two popular pet insurance companies: Figo and Trupanion. By the end of this post, you’ll know what each company offers in plans, deductibles, and additional perks. We’ll share the pros and cons of each company so you can make the best decision for your pet.

Let’s dive in!

divider-multipetA Quick Comparison

Company Name Figo Trupanion
Pets Covered Dogs and cats Dogs and cats
Types of Plans 3 4
Deductibles $100 to $750 $0 to $1,000
Reimbursement 70%, 80%, 90%, and 100% 90%
Additional
Perks
  • No per-incident caps
  • Social network for owners and vets
  • 7-day claim turnaround
  • No reduced coverage with specialists
  • Direct vet payments
  • $0 deductible options
  • No payout limits
  • No reduced coverage with specialists

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Brief Overview of Figo

FIGO Pet Insurance

Let’s start with Figo. Figo is an independent insurance company started by pet parents, for pet parents. Located in Chicago, IL, Figo is smaller than Trupanion with an eccentric vibe to it. You get a small-company interaction with their pet professionals. Figo only covers cats and dogs at this time.

Let’s look at what they do and don’t offer.

What’s Covered?

Figo Covers:

  • Surgery
  • ER and hospitalization
  • Vet specialists
  • Diagnostic testing
  • Knee conditions
  • Prosthetics and ortho
  • Hereditary and congenital
  • Prescriptions
  • Hip dysplasia
  • Chronic conditions
  • Dental health and injury
  • Imaging
  • Cancer treatment

Figo also offers end-of-life services like euthanasia and cremation. Not many pet insurance companies offer this in their basic coverage. Another aspect that Figo does differently is over chiropractic and acupuncture for no additional cost.


What’s Not Covered?

Figo Does Not Cover:

  • Pre-existing conditions
  • Experimental procedures
  • Breeding
  • Pregnancy
  • Birth
  • Cloning
  • Cosmetic surgery

It’s worth mentioning that Figo may cover pre-existing curable conditions if the pet hasn’t shown symptoms in the last 12 months.


Figo Extended Policies May Cover:

  • Wellness care
  • Veterinary exams
  • Lot pet advertising/awards
  • Boarding fees
  • Pet theft
  • Vacation cancellation
  • Third party property damage
  • Behavioral training

What separates Figo from Trupanion is wellness coverage. Many insurance companies don’t cover annual wellness exams and vaccines. This is primarily because you can plan for these services, whereas emergency fees and surgeries can’t be planned.

But with Figo, you have the option of wellness and veterinary exam coverage for an additional cost if you live in the right state.

For further coverage, you can select their Extra Care Pack which includes coverage for lost pet advertising/award, boarding fees, pet theft, vacation cancellation, and third-party property damage.

Another optional coverage extra includes behavioral training coverage between $500–$1,000 for the whole year. This includes training and medication.

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Brief Overview of Trupanion

Trupanion

Trupanion is one of the top dogs in pet insurance and is highly recommended by vet offices everywhere. The company was founded in 2000 and bought American Pet Insurance Company, which underwrites their policies.

Trupanion really cares about pet safety and supports vet and pet charitable organizations. They only cover cats and dogs at this time.

What’s Covered?

Trupanion is straightforward when it comes to coverage. They pretty much cover what Figo covers.

Trupanion Covers:

  • Surgery
  • ER and hospitalization
  • Diagnostic testing
  • Prosthetics and ortho
  • Hereditary and congenital
  • Prescriptions
  • Elbow and Hip dysplasia
  • Chronic conditions
  • Dental health and injury
  • Imaging
  • Herbal therapy
  • Cancer treatment

What separates Trupanion from Figo and most other insurance companies is their willingness to cover all unexpected injuries and illnesses. Most pet insurance companies offer broad coverage and don’t specify when they won’t cover something. Or they’ll refuse coverage after an allotted enrollment time is met.

Trupanion will cover injuries and illness, no matter what, as long as it’s not pre-existing.


What’s Not Covered?

Let’s talk about the things Trupanion doesn’t cover, as they are very different from Figo.

Trupanion Does Not Cover:

  • Vaccines
  • General practice exam fees
  • Annual blood work
  • Annual wellness care
Cats and Dogs
Image Credit By: jellypet, pixabay

Trupanion Extended Policies May Cover:

  • Acupuncture
  • Behavioral modification
  • Chiropractic
  • Homeopathy
  • Hydrotherapy
  • Naturopathy
  • Physical therapy
  • Rehab therapy

When you begin enrollment, Trupanion offers a couple of add-on bonuses for a small extra monthly fee. First, you can enhance your coverage by adding recovery and complementary care. This covers all the extras we listed above.

Trupanion Pet Owner Assistance Coverage:

  • Lost pet advertising and reward
  • Boarding fees in the event you are hospitalized,
  • End-of-life services
  • Liability coverage for third-party property damage
  • Holiday vacation cancellation costs

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Figo vs Trupanion: Plans Available

Figo Plan Options

Figo offers three different plans that all offer the same benefits and optional add-ons. The difference in the plans is the annual coverage.

Annual coverage is the maximum amount of coverage you can receive in one year. With Figo, you can choose annual coverage up to $5,000, $10,000, or an unlimited amount.

  • 5K Annual Coverage
  • 10K Annual Coverage (most popular)
  • Unlimited Annual Coverage
cat and dog
Image Credit: giselaatje, Pixabay

Trupanion Plan Options

Trupanion offers four different plans and charges a one-time new customer fee of $35 when you start a plan. Each plan is categorized by the deductible.

  • Plan 1: $0 deductible
  • Plan 2: $200 deductible (most popular)
  • Plan 3: $700 deductible
  • Plan 4: Customize the price

The customizable option allows you to choose your deductible price, and you’ll see how much your monthly fee is based on your chosen deductible. Each plan encompasses unlimited annual coverage, so there are no payout limits when your pet gets sick.

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Figo vs Trupanion: Reimbursements and Deductibles

Let’s talk about deductibles and reimbursements. A deductible is what you pay out of pocket before the insurance kicks in. Reimbursement is what the insurance company pays you back after the bill is covered.

Usually, the higher the deductible, the lower the monthly cost of insurance. The lower the deductible, the higher the monthly cost of insurance.

Let’s take a look at what these companies have to offer.

Figo Deductibles

Figo offers one annual deductible that is customizable based on the plan you choose. Deductibles range from $100 to $750 based on the cost of your monthly payments.

Figo offers different reimbursement options that go up to 100%. You won’t find many pet insurance companies offering a 100% reimbursement. They won’t change the reimbursement percentage either if your pet needs a specialist.


Trupanion Deductables

Trupanion’s deductible and reimbursement are different from Figo’s. There’s no annual deductible with Trupanion. Instead, it’s based on a lifetime per condition basis. This means that whenever your pet is sick, you pay the deductible one time. The only time you’ll pay another deductible is when your pet is diagnosed with another condition.

For reimbursements, Trupanion keeps it simple by only offering 90% reimbursement, which is a good deal. This percentage remains the same with specialists.

Estrela Mountain Dog and a cat
Image Credit: Joao Marques, Shutterstock

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Figo vs Trupanion: Additional Perks

Additional perks are the icing on the cake with insurance companies. By this time, you’ve probably decided which pet insurance company is best for you and your pet. Perks help you decide faster if the perks are juicy enough.

Here is what Figo and Trupanion have to offer.

Figo Additional Perks

The first perk to mention is Figo’s multiple pet discount. Odds are, you probably have more than one pet so it’s nice to know you can receive a discount by adding another fur baby to your plan. Each pet needs its own plan, but you do receive a 5% discount on the overall cost.

Figo also offers a social network for owners and vets. You can communicate with a vet through a live vet chat should you have any questions regarding your pet’s health.

The Pet Cloud gives you access to all things pet related. You can connect with other pet owners, share photos, plan play dates, and search for pet-friendly businesses.

Figo also offers an app so you can file your claims through your phone. In an emergency, this perk is highly convenient.


Trupanion Additional Perks

Trupanion doesn’t have nearly as many perks as Figo. Most of their perks lie in their unlimited annual coverage, customizable deductibles, pet owner’s assistance package, and recovery and complementary care.

What separates Trupanion from other insurance companies is their direct vet payments. Instead of going through all the steps of reimbursement, Trupanion will directly pay the hospital. The only downside is the hospital has to have the unique software that Trupanion uses.

Another downside to Trupanion’s perks is their lack of a multi-pet discount. You don’t get any discount if you sign multiple pets up on the same account, unlike Figo.

Cat and Dog_Chendongshan_Shutterstock
Image Credit: Chendongshan, Shutterstock

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Figo vs Trupanion: Summary of Pros and Cons

Let’s do a quick recap. Here are our pros and cons list for both pet insurance companies, summarizing everything we’ve discussed so far.

Figo

  • More reimbursement options
  • Covers wellness
  • May cover curable pre-existing conditions
  • No upper age limits
  • Several customer service communication tools
  • Expensive comprehensive policies

Trupanion

  • Unlimited annual coverage
  • Direct vet payments
  • $0 deductible option
  • Expensive monthly payments
  • Doesn’t cover exam fees
  • Upper age limit at 14 years old
  • Limited perks
pug dog and cat sitting together on the floor
Image Credit: Africa Studio, Shutterstock

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Company Verdict: Which One Has the Edge?

Customer Service

Both insurance companies have great customer service and communication options. But we’re giving Trupanion the edge because their customer service support is open 24/7 whereas Figo is closed throughout the evening.


Price of Plans

Looking at Figo’s prices, you would expect us to choose Figo as the winner for having the best prices, but we’re giving it to Trupanion.

Sure, their monthly rates are higher. But you get unlimited annual coverage at 90% reimbursement every time. Plus, you only have to meet a deductible if your pet is diagnosed with a new illness. That means fewer fees and less hassle in the long run. So, it makes sense why their monthly rates are higher.

Cat eating from a ceramic bowl
Image Credit: Sweetlouise, Pixabay

Areas of Coverage

Figo wins in this category because they cover annual wellness and possibly pre-existing conditions. They also include acupuncture and chiropractic in their basic coverage at no additional cost.


Perks

Figo wins with perks. Their Pet Cloud gives them an edge over Trupanion because dog owners can connect with other dog owners and dog-friendly businesses. Plus, they include a 5% multi-pet discount if you have more than one pet on the same account.

dog eating dog food_cottonbro_Unsplash
Image Credit: Unsplash

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Conclusion

After reviewing Figo and Trupanion, which company do you think is better? We’re selecting Figo as our winner.

Although Trupanion has better prices overall, their monthly cost is still higher and that’s what many dog owners look for. They also don’t cover as much as Figo. At least Figo covers annual wellness and exams.

It makes sense why Trupanion wouldn’t cover these services, but some people want that area covered. So, Figo wins!


Featured Image Credit: huoadg5888, Pixabay



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