Overall Rating: 4.0 / 5
Figo holds one unique distinction among major U.S. pet insurers: a 0-day accident waiting period. From the first day your policy is active, injuries are covered. No other major provider matches this — the closest is Lemonade at 2 days. Figo also offers a 100% reimbursement option (uncommon in the market), a cloud-based pet records app (Figo Pet Cloud), and is sold through Costco as the Costco Member Pet Insurance program, offering Costco members preferential pricing.
| Category | Rating | Notes |
|---|---|---|
| Coverage breadth | 4/5 | Covers hereditary, cancer, dental illness; 100% reimbursement option |
| Price / value | 4/5 | Competitive pricing; Costco members get additional discount |
| Plan flexibility | 4/5 | 100% reimbursement unique; standard deductible/limit range |
| Claims experience | 4/5 | Figo Pet Cloud app; typically 5–10 business days |
| Waiting periods | 5/5 | 0-day accident — fastest in market |
Best for: Owners who need immediate accident coverage, Costco members, owners wanting 100% reimbursement, tech-forward users who want pet records management.
Not ideal for: Owners primarily focused on illness coverage (5-day illness wait is still short but not zero); those wanting a wellness add-on with dental cleaning.
Figo Plans and Pricing
| Setting | Options | Notes |
|---|---|---|
| Annual deductible | $100, $200, $250, $500, $750, $1,000 | — |
| Reimbursement rate | 70%, 80%, 90%, 100% | 100% option unique in market |
| Annual limit | $5,000, $10,000, Unlimited | — |
| Waiting period (accident) | 0 days | Only major provider with zero-day accident coverage |
| Waiting period (illness) | 5 days | Second-fastest illness wait after Figo's own accident coverage |
| Waiting period (orthopedic) | 6 months | — |
Sample monthly premiums (2-year-old, mixed breed, mid-size U.S. city, $500 deductible, 80% reimbursement, $10,000 limit):
- Domestic shorthair cat: ~$20/month
- Mixed breed dog (medium): ~$42/month
Costco Pet Insurance = Figo
Figo Pet Insurance is sold through Costco as "Costco Member Pet Insurance" — available exclusively to Costco members. The underlying policy is a Figo policy with all the same coverage terms, waiting periods, and claims process. Costco members receive preferential group pricing that is typically 10–15% below Figo's individual market rates.
How to access Costco pet insurance: Visit the Costco website → Insurance → Pet Insurance, or through the member portal. You must be an active Costco member to enroll. Coverage is administered by Figo Pet Insurance.
If you are a Costco member, comparing Figo individual pricing against the Costco member rate is worth the extra step — the member discount alone can justify the Costco membership fee for pet insurance purposes if you have multiple pets.
The 100% Reimbursement Option
Figo is one of the only major U.S. providers to offer 100% reimbursement — after your deductible, Figo pays 100% of eligible covered bills. This is the maximum coverage level available: you pay only the deductible, and Figo pays the rest.
When 100% reimbursement makes sense: High-risk breeds (French Bulldogs, Dachshunds) with expected frequent moderate claims where the out-of-pocket 10–30% adds up across multiple claims per year. For a pet with $5,000 in annual claims after a $500 deductible: 100% reimbursement pays $4,500; 80% pays $3,600 — a $900/year difference. The premium increase for 100% vs. 80% is typically $10–$20/month ($120–$240/year), making it a borderline call for most pets.
Figo Pet Cloud App
Figo offers a free companion app (Figo Pet Cloud) that stores your pet's medical records, vaccine history, and insurance documents in one place — and allows you to submit claims, access telehealth consultations, and find nearby vets. This is one of the more polished pet management apps among insurers.
What Figo Covers
- Accidents from day 1 (0-day wait)
- Illnesses from day 6
- Hereditary and congenital conditions (after 6-month ortho wait)
- Cancer — surgery, chemo, radiation
- Dental illness — fractures, stomatitis, periodontal extraction
- Chronic conditions — diabetes, CKD, allergies
- Prescription medications
- Specialist referrals, hospitalization, emergency care
Pros and Cons
| Pros | Cons |
|---|---|
| 0-day accident waiting period (only in market) | 6-month orthopedic waiting period |
| 100% reimbursement option | Higher base price vs. Spot or Lemonade |
| Costco member pricing available | No exam fee coverage in base plan |
| Figo Pet Cloud app — robust pet records management | No direct vet payment |
| 5-day illness waiting period (fast) | No multi-pet discount beyond 5% |
Frequently Asked Questions
Is Figo pet insurance good?
Yes — particularly for owners who need immediate accident coverage or are Costco members. The 0-day accident waiting period is genuinely unique and valuable. For illness coverage, Figo's 5-day wait is also among the fastest. The trade-offs are a 6-month orthopedic waiting period and a higher base price vs. Spot or Lemonade for equivalent illness coverage.
Is Costco pet insurance the same as Figo?
Yes — Costco Member Pet Insurance is a Figo policy sold exclusively to Costco members with group pricing. The coverage terms, waiting periods, exclusions, and claims process are identical to Figo's individual market policies. Costco members typically receive 10–15% below the individual market rate.
What is the Figo pet insurance waiting period?
0 days for accidents (unique — coverage starts day 1), 5 days for illness, and 6 months for orthopedic conditions. The 0-day accident coverage is Figo's signature feature. If you need orthopedic coverage quickly, Spot or Pumpkin (14-day orthopedic wait) are better alternatives.
Does Figo cover pre-existing conditions?
No — Figo excludes pre-existing conditions as defined by symptoms or diagnosis before your policy's effective date. The 0-day accident waiting period does not override pre-existing condition exclusions — a condition that existed before enrollment is still excluded regardless of when coverage technically starts.