Pet Insurance

Trupanion vs Figo Pet Insurance: Which One Will Fit Into Your Budget?

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Last Updated: April 30, 2024 | 4 min read | Leave a Comment

This content was reviewed by our licensed insurance agent, Michelle Schenker.

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2 Cavalier dogs with their snouts peeking out of a purple blanket laying on a bed

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.

TrupanionFigo
Policy CoverageLimitedExtensive
Customer Service & ReputationExcellent, StableExcellent, Stable
Claim Processing Average2 Days3 Days
Price Of PolicyHigherLower
Plan CustomizationsLimitedMany
Overall WinnerOrange X (No or Not)Brown checkmark (Yes)
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Policy Coverage

Policy Coverage Winner

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.

TrupanionFigo
Illness Waiting Period30 Days14 Days
Accident Waiting Period5 Days1 Day
Hip Dysplasia Waiting Period30 Days6 Months
CCL Surgery Waiting Period30 Days6 Months
Behavioral TherapiesBrown checkmark (Yes)Brown checkmark (Yes)
Alternative/Holistic TherapyExtra FeeBrown checkmark (Yes)
Wellness Care For An Extra FeeOrange X (No or Not)Brown checkmark (Yes)
Exam FeesOrange X (No or Not)Extra Fee
UnderwriterAmerican Pet Insurance CompanyIndependence American Insurance Company (IAIC)
Markel American Insurance Company
Markel Insurance Company
A.M. Best RatingUnratedA-
A
A

Figo has shorter waiting periods for illnesses and accidents and offers coverage for wellness care and exam fees. Additionally, Figo’s underwriters have a A- and A ratings 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.

Customer Service & Reputation

Customer Service & Reputation Winner

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.

Claim Processing

Claim Processing Winner

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 category.

Price Of Policy

Price Of Policy Winner

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.

Your premium price quote is based on your pet’s details (age, breed, location, etc.). We recommend obtaining quotes from each company for your specific pet. You can also visit our pet insurance comparison quotes to see a few sample prices we’ve gathered. 

Figo almost always came out less expensive than Trupanion in the quotes we’ve run. However, remember that it’s always best to get quotes for your specific dog to compare what pet insurance could cost for you. You can use our pet insurance quote form to get multiple company quotes when you complete this one-quick form.

Additionally, Figo has an annual deductible, whereas Trupanion’s deductible is per-condition and lifetime. An annual deductible is important if your pet experiences multiple accidents or illnesses during the policy period (one year). However, if your dog is subject to chronic conditions, like allergies, hip dysplasia, cancer, urinary tract infections, etc., then Trupanion’s per-condition deductible for the life of your pet may be a better choice.

Coupons

Trupanion

Use this link to take advantage of the best possible price and get a quote for your pet from Trupanion.

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

Use this link to take advantage of the best possible price. No promo code is needed.

Plan Customization

Plan Customization Winner

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.

What’s The Verdict?

Overall Winner

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.

If you didn’t find what you were looking for, our experts dig even deeper into each company in our individual reviews of Trupanion and Figo.

Our experts have spent thousands of hours researching to bring you our comprehensive and frequently updated pet insurance reviews, including our top picks, along with details on each of the most popular pet insurance companies. So, if you want to know how other providers compare against one another, you may find this review helpful in your pet insurance search.

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The information provided through this website should not be used to diagnose or treat a health problem or disease; it is not intended to offer any legal opinion or advice or a substitute for professional safety advice or professional care. Please consult your health care provider, attorney, or product manual for professional advice. Products and services reviewed are provided by third parties; we are not responsible in any way for them, nor do we guarantee their functionality, utility, safety, or reliability. Our content is for educational purposes only.

Disclaimer: Information regarding insurance company offerings, pricing, availability, and other contract details are subject to change by the insurance company at any time and are not under the control of this website. Information published on this website is intended for reference use only. Please review your policy carefully before signing up for a new insurance contract or any other contract as your unique circumstances will differ from those of others who may be used for example purposes in this article.

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