Figo Pet Insurance Review (2026)

Figo Pet Insurance, LLC sells Figo policies; Independence American Insurance Company (IAIC) insures them. IAIC also insures Pumpkin, Spot, ASPCA and Pets Best, but Figo has its own policy form and its own rate filings. Costco offers Figo to its members. We found no separate Costco policy form.

We have no Figo rate pages, so this page has no price chart, no lifetime cost and no score.

How it works everywhere

The terms below come from Figo’s generic sample policy: form IAIC FPI POL 0320, file dated 1 August 2023. Figo’s documents page links this sample for Florida, 28 other states and Washington, D.C. California and 20 other states have a separate document, which we have not read.

• The deductible is annual. After each claim-free year it drops by $50 at renewal, down to $0. After a paid claim it goes back to the original amount. Wellness claims do not count (Part III.4).
• Your share of the bill (co-insurance) comes off first, then the deductible (Part III.3). At 90% reimbursement and a $1,000 deductible, you get up to $100 a year less than if the deductible came off first.
• Exam fees and wellness (routine preventive care) are paid add-ons (IAIC FPI EXAM-R 0320, IAIC FPI WELL-R 0320). Rehabilitation, alternative care and behavioral problems are not covered without their riders, the add-ons to the policy (IAIC FPI RPT-R 0320, IAIC FPI HAB-R 0320; Part IV.4 and IV.5).
• A chronic condition seen before the start date or during the waiting period is excluded for good. Any other condition is excluded if it started or showed signs in the 12 months before the start date or during the waiting period (Part I.33).
• A curable condition that existed before the policy (pre-existing) is covered again after 12 months with no symptoms or treatment. This rule does not apply to knees and ligaments. If cancer or IVDD (intervertebral disc disease) was diagnosed or treated before the waiting period ended, any later cancer or IVDD also counts as pre-existing. Kidney treatment is not covered if kidney disease showed before the waiting period ended (Part IV.1).
• Figo’s FAQ says it checks medical history during claims; it does not promise a check before purchase. The first claim must include 24 months of medical or adoption records (Part II.1). If the pet had no annual exam in the 12 months before the start date, the first exam after that date becomes the starting point for pre-existing conditions (Part I.33).
• The sample’s waiting periods are 1 day for injuries, 14 days for illness and 6 months for orthopedic conditions in dogs (Part I.43). The orthopedic wait is waived if a vet does an orthopedic exam and the completed waiver form reaches Figo within 30 days of the policy’s effective date (Part II.6).
• You pay the vet and are reimbursed (Part II.4). You can tell Figo to send the payment to the vet instead (“Assignment and Claims of Creditors”). We found no description of payment at the clinic counter.
• Monthly payment adds a non-refundable installment fee. The sample does not state the amount; it is shown on the declarations page.
• IAIC filed Figo’s countrywide data in Florida filing 25-046756: from January 2021 to May 2024, incurred losses were $68.4 million on $128.0 million of earned premium, or 53%. Data as of 31 May 2024.

Pros

• Figo’s Florida page offers a policy with no annual limit.
• Figo’s Florida page gives no upper age for enrollment.
• The sample policy covers genetic conditions; the Florida page also lists congenital ones.
• Dental illness is in the base policy if the owner follows the vet’s dental advice, including an annual dental exam (Part III.1(c)).
• Figo’s Florida page gives a 5% multi-pet discount.

Cons

• Any sign of tartar, gingivitis, periodontal disease, resorptive lesions or stomatitis before the start date or during a waiting period rules out dental illness cover. Deep cleaning is never covered (Part IV.15).
• Sick-visit exams and specialist consultations are paid only with the exam-fee add-on.
• Prescription food is not in the base policy: the policy excludes all food, even food a vet prescribes (Part IV.17). With the exam-fee add-on (IAIC FPI EXAM-R 0320) it is paid only when it is the sole treatment for an illness, up to $250 per policy term.
• Behavioral problems are not covered without the alternative-care rider (IAIC FPI HAB-R 0320). With it, vet consultations for behavior are paid up to $500 a year.
• IAIC’s countrywide data show Figo’s incurred losses at 53% of earned premium from January 2021 to May 2024 (filing 25-046756, data as of 31 May 2024). That is far below the 90% our methodology treats as ideal. The figure is neither Florida’s nor California’s, so it does not feed a loss-ratio score (loss ratio: the share of premium paid out as claims).

What we could not verify

• Florida filing 26-013383 was approved on 21 May 2026. We do not have its documents, so the size of the change, the age curve and any tenure or claims-based factors are unknown.
• Figo’s website says premiums can rise or fall with the pet’s age, species, breed and address. The sample policy says premiums can rise at renewal with age and veterinary inflation. Without the filed age table we cannot say how steeply the price rises with age.
• In California, IAIC’s combined filing 25-613 (approved 16 April 2026) says it includes the Figo program. Its rate manual adds a 0.85 factor for members of paid warehouse clubs; the rule names no club and no brand. The filing does not say whether Figo policies are priced on that manual. Figo’s own California filing 22-299 (2022) asked for +11.6%; we have not found the approved figure.
• For Florida, Figo’s documents page links the generic sample, not a Florida form. Its waiting periods cannot apply in Florida as written: state law bans waiting periods for injuries and caps illness and orthopedic waits at 30 days.
• Whether the rehabilitation and alternative-care riders cost extra. The sample calls them optional coverage the owner buys, but prints them before its section “Optional Coverage at an Additional Cost”.
• The size of the monthly installment fee and of the Costco member discount.