This content was reviewed by our licensed insurance agent, Michelle Schenker.
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Trupanion is one of the most popular pet insurance providers and is commonly recommended by veterinarians. Figo is frequently looked at as a more affordable alternative.
Both Trupanion and Figo offer excellent pet insurance coverage. But does one cover more than the other? And how do they compare regarding price? We explain why we rank one better than the other.
|Policy Coverage||More Limited||Extensive|
|Customer Service & Reputation||Excellent, Stable||Excellent, Stable|
|Claim Processing Average||2 Days||3 Days|
|Price Of Policy||Higher On Average||Lower On Average|
|Plan Customizations||Very Limited||Many Options|
|Visit Website||Visit Website|
The table below shows what Trupanion and Figo cover. Note: Both companies cover emergency care, surgery and hospitalization, specialized exams and specialty care, X-rays, blood tests, ultrasounds, cat scans, MRIs, rehabilitation, cancer, chronic conditions, euthanasia, hereditary conditions, congenital conditions, non-routine dental treatment, and prescription medications. Neither covers pre-existing conditions, cremation and burial costs, pregnancy and breeding, or unnecessary cosmetic procedures.
|Ranking In Our Pet Insurance Comparison||Unranked||Best Value|
|Illness Waiting Period||30 Days||14 Days|
|Accident Waiting Period||5 Days||1 Day|
|Hip Dysplasia Waiting Period||30 Days||6 Months|
|CCL Surgery Waiting Period||30 Days||6 Months|
|Alternative/Holistic Therapy||Extra Fee|
|Wellness Care For An Extra Fee|
|Exam Fees||Extra Fee|
|Underwriter||American Pet Insurance Company||Independence American Insurance Company (IAIC)|
|A.M. Best Rating||Unrated||A-|
Figo has shorter waiting periods for illnesses and accidents and offers coverage for wellness care and exam fees. Additionally, Figo’s underwriter has an A- rating by A.M. Best (a measurement of financial stability).
Another key deciding factor for you may be the age restrictions attached to Trupanion, which doesn’t enroll pets older than 14 years old.
Additionally, Trupanion has a per-incident lifetime deductible instead of an annual deductible (what Figo has); this means that with Trupanion, you’ll have to meet the deductible multiple times for every new incident your pet encounters instead of one annual deductible. Because of these things, we have chosen Figo as the winner of this category.
Policy Coverage Winner: Figo
Trupanion has a consistent history of higher prices and dependable coverage. No monumental changes have recently occurred, which shows that you can count on things being relatively steady when you sign up for a Trupanion policy.
On the other hand, Figo has negative reviews regarding not paying claims. However, these claims are often for pre-existing conditions or wellness-related claims that the policy doesn’t cover. Figo still has excellent customer service and is responsive to its customers’ needs.
Both companies offer a variety of ways to reach out to customer service, offering email, phone, and text support. Additionally, Figo offers live chat as an option. Unfortunately, due to Trupanion’s higher prices, it often has more customer complaints than Figo does.
Customer Service & Reputation Winner: Figo
Trupanion processes claims within two days on average, which is among the fastest in the industry. Additionally, you may be able to have Trupanion pay your vet directly, so you don’t have to pay a hefty vet bill in advance and wait for reimbursement (although it’s a rather short wait). But this isn’t available everywhere, so check with your vet first to see if Trupanion Express is an option for you.
Figo averages a three-day claim process, with about 50% closed within 24 hours. This is also among the fastest claim processing averages in the industry. Figo doesn’t offer a vet direct pay feature at this time. Because of all of this information, Trupanion wins this categoy.
Claim Processing Winner: Trupanion
Trupanion requires a one-time enrollment fee of either $0, $25, or $35, depending on the state in which you live, but charges no transaction fees. On the other hand, Figo has a one-time $15 administration fee and a $2 per month transaction fee, which can be waived if you opt to pay annually.
Below are some pet insurance quotes we pulled in January 2022. All information is for pets without a microchip, no multi-pet discount, and no pre-existing conditions.
|Breed||Birthday||Gender||Location||Deductible||Reimbursement %||Annual Payout||Price Per Month|
|Trupanion||Labrador Retriever||April 2017||Female||California (90024)||$250||90%||Unlimited||$231.45|
|Figo||Labrador Retriever||April 2017||Female||California (90024)||$250||90%||Unlimited||$104.05|
|Trupanion||40 lb Mixed Breed||January 2015||Female||Illinois (60604)||$500||90%||Unlimited||$142.36|
|Figo||40 lb Mixed Breed||January 2015||Female||Illinois (60604)||$500||90%||Unlimited||$88.71|
|Trupanion||American Pit Bull Terrier||July 2021||Male||New York (10012)||$500||90%||Unlimited||$121.83|
|Figo||American Pit Bull Terrier||July 2021||Male||New York (10012)||$500||90%||Unlimited||$110.33|
We like that Figo has more annual payout and reimbursement percentage options than Trupanion, allowing you the ability to adjust coverage based on your needs and budget. On average, Trupanion offers some of the most expensive coverage, and it’s hard to show how low Figo’s prices can be when we tried to compare apples to apples with the deductible, reimbursement percentage, and annual payouts above.
Price Of Policy Winner: Figo
Figo offers the following discounts:
- 5% off any new Figo pet insurance policy (exclusive for Canine Journal readers – use this link)
- 5% off for multiple pets
- Your deductible automatically goes down $50 each year you don’t receive a claim payment
The other significant differences between these two companies are the level of plan customization available and age restrictions.
Trupanion has unlimited payouts and 90% reimbursement for all plans. The only customization part of a Trupanion policy is the option of a $0 to $1,000 deductible. One other difference with Trupanion is that they offer coverage from birth and are among the only companies to offer coverage for newborns.
Figo offers many customization options, no matter the pet’s age:
- Annual payout options: $5,000, $10,000, and unlimited
- Deductibles: $100, $250, $500, and $750
- Reimbursement: 70%, 80%, 90%, and 100%
As you may have noticed, Figo offers 100% reimbursement, which isn’t commonly available with pet insurance providers. This may be of interest to you, depending on your budget and coverage needs. Figo offers coverage for pets beginning at eight weeks old.
Overall, Trupanion has fewer customization options than Figo, which may make it more challenging to fit your budget and unique needs.
Plan Customization Winner: Figo
Overall, Figo wins our comparison due to its quick claim process, customized plans, and more affordable pricing. However, if you want a company that can cover your puppy at birth, you may want to consider Trupanion.
Overall Winner: Figo
Our experts have spent hundreds of hours researching to bring you our comprehensive and frequently updated pet insurance reviews, including our top picks and details for each of the most popular pet insurance companies.
If you prefer to see winners by category, see our best pet insurance comparison. We give awards for the best price, multi-pet discounts, 100% reimbursement, unlimited payouts, and other “best for” categories, including puppies, older dogs, dental, wellness coverage, bilateral conditions, behavioral therapy, vet direct pay, and more. You’ll even see winners for exotic pets and cats as well as breeders.Tagged With: Reviewed By Insurance Agent