Figo vs Nationwide Pet Insurance
When it comes to ensuring the health of our furry friends, the decision of choosing the right pet insurance can be challenging. Today, we will compare two popular pet insurance providers: Figo and Nationwide. This review will delve into the features, costs, coverage, benefits, and limitations of both providers to aid pet parents in making an informed decision.
Overview of Figo and Nationwide Pet Insurance
Figo Pet Insurance, a relatively new entrant in the market, is known for its comprehensive coverage and innovative cloud-based platform. It offers three tiers of coverage and covers veterinary exam fees, a feature not all competitors provide.
On the other hand, Nationwide Pet Insurance, formerly Veterinary Pet Insurance (VPI), is one of the oldest and most well-known pet insurance providers. Known for its broad coverage, including wellness plans, Nationwide covers most species, not just dogs and cats.
What Does Figo and Nationwide Cover?
Figo’s insurance plans are comprehensive and designed mainly for emergencies. They do not cover pre-existing conditions, which is standard in the industry. Figo’s plans cover accidents, illnesses, hereditary and congenital conditions, chronic conditions, cancer, and behavioral treatments.
Nationwide offers comprehensive illness and accident coverage, wellness add-ons, and is one of the few providers offering exotic pet insurance. It covers hereditary and congenital conditions, prescriptions, wellness and preventive care (with wellness add-on), and dental diseases.
Cost Comparison Between Figo and Nationwide
The cost of pet insurance varies significantly based on your pet’s breed, age, location, and the coverage you choose. Generally, Figo’s monthly premiums start around $35 and can go up to $100+, while Nationwide’s premiums start from around $35 and can exceed $60.
Keep in mind that while Figo might seem cheaper, its deductible options are per-incident, which means you need to pay the deductible each time a new condition or accident occurs. On the contrary, Nationwide has an annual deductible, which is a single payment regardless of the number of incidents in a year.
Claiming Process: Figo vs Nationwide
Figo has a simple claiming process with its mobile app that lets pet owners file claims quickly, even from the vet’s office. Claims are generally processed within 5-10 business days.
Nationwide allows filing claims through its mobile app, online, or via fax/mail. Nationwide’s turnaround time is slightly longer, usually 14 days.
User Reviews and Satisfaction
User experience varies for both providers. Some users have praised Figo’s user-friendly app and fast claims process. However, some users have reported dissatisfaction with the rise in premiums over time.
Nationwide users appreciate the broad coverage it offers, including wellness care. But some customers have reported slow claim processing time and difficulty getting certain conditions covered.
Exam Fees and Alternative Therapies
When comparing coverage details, it’s important to consider exam fees and alternative therapies. Figo stands out as it covers exam fees, which are often not included by other insurers. These are the fees you pay for a veterinary professional to examine your pet, which can add up quickly in the case of an emergency or recurring illness.
Nationwide also covers exam fees as part of its standard plan. In addition to this, Nationwide includes alternative therapies such as acupuncture, physiotherapy, and chiropractic care. While Figo does cover alternative therapies, it’s limited to treatments prescribed and performed by a vet.
Chronic and Hereditary Conditions
Both Figo and Nationwide cover chronic and hereditary conditions. However, with Figo, there is a waiting period for certain conditions. For example, knee injuries have a 6-month waiting period, which can be waived if a vet exam within the first 30 days of coverage shows no pre-existing conditions.
On the other hand, Nationwide covers hereditary and chronic conditions, but the pet must be under 10 years old at the time of enrollment for these conditions to be covered.
Preventative Care
One key difference between Figo and Nationwide is their approach to preventative care. Figo’s plans are more focused on unexpected events like accidents and illnesses, not routine or preventative care.
Nationwide, however, offers an add-on Wellness plan, which covers routine and preventative care procedures. This includes vaccinations, flea/tick prevention, routine dental cleanings, and regular health screenings. This add-on is ideal for those who want an all-in-one solution for their pet’s healthcare.
Customer Service: Figo vs Nationwide
Customer service is an essential factor to consider when choosing pet insurance. Both Figo and Nationwide offer various channels for customer support, including phone, email, and online chat.
Figo’s customer service is highly praised by its users. The Figo Pet Cloud app provides 24/7 virtual vet visits and a live chat service, meaning you can access support at any time.
Nationwide also provides a high level of customer service. It has a comprehensive FAQ section on its website and a dedicated 24/7 Vet Helpline for any pet health-related questions, even if they are not claim-related.
Policy Flexibility
When it comes to policy flexibility, Figo offers customizable plans, allowing pet owners to adjust their deductible, reimbursement level, and annual limit to best suit their needs and budget.
In comparison, Nationwide has less flexibility in terms of policy customization. It offers a few different plan options, but the coverage levels are generally set.
Waiting Periods
Figo’s waiting periods are relatively standard, with a 14-day waiting period for illnesses, and a 3-day waiting period for accidents. As mentioned earlier, there is also a 6-month waiting period for knee injuries.
Nationwide also has a 14-day waiting period for illnesses, but it has a slightly longer waiting period for accidents at 14 days. Cruciate ligament events have a 12-month waiting period.
Conclusion
Both Figo and Nationwide have their strengths. Figo is a good choice for tech-savvy pet owners looking for comprehensive coverage with a fast claims process. Nationwide, with its wide coverage and wellness options, might be a better choice for those wanting wellness care and coverage for exotic pets.
In choosing between Figo vs Nationwide pet insurance, consider your pet’s needs, your financial situation, and which aspects of coverage are most important to you. Be sure to read the fine print and understand the details of each policy before making a decision.
FAQs: Figo vs Nationwide Pet Insurance
What Does Figo Pet Insurance Cover?
Figo offers comprehensive coverage for unexpected accidents and illnesses. This includes:
- Emergency and hospitalization fees
- Surgery and specialty care
- Cancer treatments
- Prescription medications
- Congenital and hereditary conditions
- Chronic conditions
- Knee conditions (after a 6-month waiting period)
- Rehabilitation
- Prosthetics and orthotic devices
- Behavioral therapy (prescribed by a vet)
However, Figo does not cover routine or preventative care, breeding or pregnancy, pre-existing conditions, or cosmetic procedures.
What Does Nationwide Pet Insurance Cover?
Nationwide has two main plans: the Major Medical plan, and the Whole Pet with Wellness plan. The Major Medical plan covers accidents, illnesses, and hereditary conditions. The Whole Pet with Wellness plan offers the same, but also includes wellness and preventative care. The coverage includes:
- Physical exams
- Diagnostics
- Treatments (including alternative therapies)
- Surgery
- Prescription medications
- Wellness care (only with the Whole Pet with Wellness plan)
- Dental diseases
Nationwide does not cover pre-existing conditions, breeding costs, or cosmetic procedures.
How Do Claims Work With Figo and Nationwide?
Figo offers a straightforward, digital claims process. Policyholders can submit a claim directly through the Figo Pet Cloud app or on Figo’s website. Claims are generally processed within 5 to 10 business days.
Nationwide also provides an easy claims process. You can submit a claim online through your account or by mail. Processing times can vary, but typically, you can expect reimbursement within 14 days of submitting your claim.
Can I Use My Own Veterinarian With Figo and Nationwide?
Yes, both Figo and Nationwide allow you to visit any licensed veterinarian, specialist, or emergency clinic in the US.
How Are Premiums Determined By Figo and Nationwide?
Both Figo and Nationwide consider several factors when determining your premium. These can include:
- Your pet’s age and breed
- Your geographical location
- The coverage level and deductible you choose
- The reimbursement percentage you select
However, unlike some insurers, neither Figo nor Nationwide increase your premium based on the number of claims you file.
Can I Enroll Older Pets With Figo and Nationwide?
Figo does not have an upper age limit for pets, making it an ideal choice for older pets.
Nationwide also accepts pets of all ages, but the pet must be under 10 years old at the time of enrollment for hereditary and chronic conditions to be covered.
What Happens if I Want to Cancel My Policy?
Figo allows you to cancel your policy at any time. If you cancel within the first 30 days and haven’t filed any claims, you’ll receive a full refund.
Nationwide also permits policy cancellation at any time. If you cancel within the first 30 days and haven’t filed any claims, you’re eligible for a full refund. After 30 days, you’ll receive a prorated refund.
Are Prescription Medications Covered By Figo and Nationwide?
Figo includes prescription medications in their coverage, making it easier for pet owners dealing with a pet’s illness. However, it’s important to note that this doesn’t include prescription food or supplements, even if they’re prescribed by a vet.
Nationwide also provides coverage for prescription medications in both their Major Medical and Whole Pet with Wellness plans. Just like Figo, they do not cover prescription food or supplements.
Is Physical Rehabilitation Covered By Figo and Nationwide?
Physical rehabilitation is covered by both Figo and Nationwide when it’s prescribed and performed by a licensed veterinarian. This is beneficial if your pet ever needs recovery treatments after surgery or for conditions like arthritis or dysplasia.
How Do Deductibles Work With Figo and Nationwide?
With Figo, you have the option to choose an annual deductible of $100, $250, $500, $750, $1,000, or $1,500. The deductible you select will affect your premium—the lower your deductible, the higher your premium, and vice versa.
Nationwide, on the other hand, has a set deductible of $250 for their Major Medical plan. For the Whole Pet with Wellness plan, you have the option to choose a deductible of $100, $250, or $500.
How Do Reimbursements Work With Figo and Nationwide?
Figo offers a choice of 70%, 80%, 90%, or 100% reimbursement after your deductible has been met. The percentage you choose affects your premium, with higher reimbursements resulting in higher premiums.
Nationwide has a 90% reimbursement rate for the Whole Pet with Wellness plan. For the Major Medical plan, they use a benefit schedule, which sets a maximum limit on the amount you’ll be reimbursed for specific conditions or treatments.
Is There a Network of Veterinarians I Must Use With Figo or Nationwide?
Both Figo and Nationwide allow you to use any licensed veterinarian, which means you’re not restricted to a specific network. This allows you to continue using your trusted vet or to seek care while traveling in any part of the U.S.
How Can I Reach Customer Service With Figo and Nationwide?
Figo’s customer service can be reached via phone, email, or through their live chat feature on the Figo Pet Cloud app, available 24/7. Nationwide also provides phone and email support, along with a comprehensive FAQ section on their website and a 24/7 Vet Helpline.
Can I Cover Multiple Pets With Figo and Nationwide?
Yes, both Figo and Nationwide offer multi-pet discounts. Figo provides a 10% discount if you enroll multiple pets, while Nationwide offers a 5% discount on the base premium for each additional pet you enroll.
