Costco Pet Insurance Review
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Costco provides its members with deals on groceries and home goods, but you may not know it also offers discounted pet health insurance. The company partners with Figo, a popular provider that frequently makes lists for best pet insurance companies, to offer pet insurance policies at a reduced rate.
We have reviewed Costco’s pet insurance plans, coverage, pricing, and customer reviews. Learn about its pros and cons to determine if it’s the right fit for you and your pet.
How Did We Rate Cosco Pet Insurance?
We carefully assessed Costco’s pet insurance pricing, availability, add-ons, deductible options, customer service, reputation, and more. We ultimately scored the company 93 out of 100. It scored high in the following areas:
- Shorter waiting period for accident claims than other providers
- Multiple add-ons for extra coverage
- Unlimited coverage option
Costco’s pet insurance coverage is comparable to other leading providers. It offers customer support via several channels, including phone, email, and online chat. It also has a 24/7 telehealth line, mobile app, and customer portal.
How Does Costco Pet Insurance Compare to the Competition?
Compare Figo pet insurance to other leading pet insurance providers:
| Company | Star Rating | Monthly Cost for Dogs* | Monthly Cost for Cats* | Visit Site |
|---|---|---|---|---|
| $33.69 | $13.32 | VISIT SITE | ||
| $38.44 | $21.53 | VISIT SITE | ||
| $65.15 | $53.43 | VISIT SITE | ||
| $20.76 | $18.47 | VISIT SITE | ||
| $44.83 | $24.68 | VISIT SITE | ||
| N/A | N/A | VISIT SITE | ||
| $49.85 | $26.55 | VISIT SITE | ||
| $44.79 | $16.36 | VISIT SITE |
*Based on sample quotes for a 4-year-old mixed dog in Raleigh, North Carolina.
How Much Does Costco Pet Insurance Cost?
Your monthly premium depends on your location and your pet’s breed, age, and health status. We requested quotes for domestic medium-hair cats and three common dog breeds. Monthly premiums for cats average $15, while pricing averages $23–$36 per month for dogs.
Costco’s pet insurance through Figo includes options for a 70%, 80%, 90%, or 100% reimbursement rate. Coverage limit options include $5,000, $10,000, or unlimited.
Pets 5 and under:
- $100
- $250
- $500
- $750
Pets between 6 and 9:
- $250
- $500
- $750
- $1,000
Pets between 6 and 9:
- $250
- $500
- $750
- $1,000
If you’re unfamiliar with how pet insurance works, it’s not that much different than your own health insurance policy. Your deductible is the amount you pay out of pocket before the provider will start reimbursing you. The reimbursement rate is how much of each vet bill the provider will pay for. Your coverage limit is the maximum amount the provider will pay per year.
Sample Pricing Premiums
Below are sample monthly premiums for Figo’s plans, including Costco’s 15% membership discount.
| Plan | Medium Mixed Dog | Golden Retriever | Yorkshire Terrier | Domestic Medium Hair Cat |
|---|---|---|---|---|
|
Essential Plan |
$28.45 |
$37.59 |
$23.63 |
$14.90 |
|
Preferred Plan |
$31.12 |
$41.13 |
$25.86 |
$16.30 |
|
Unlimited Plan |
$40.13 |
$53.02 |
$33.34 |
$21.01 |
*Sample quotes are for 4-year-old pets in Raleigh, North Carolina.
Does Costco Pet Insurance Offer Discounts?
If you purchase pet insurance through Costco, the company isn’t your actual policy provider. It’s Figo. However, you’ll receive a 15% discount on your policy as a Costco member. Executive-level members also receive $15 off the enrollment fee. Figo-specific discounts vary by state, so ask about them when you enroll.
What Plans and Coverage Does Costco Pet Insurance Offer?
Figo offers three accident-and-illness plans to pet parents. Each plan covers the same items and has the same exclusions but with differing annual limits and lifetime coverage caps.
- Essential Plan: $5,000 annual benefit
- Preferred Plan: $10,000 annual benefit
- Ultimate Plan: Unlimited annual and lifetime benefit
- Acupuncture
- Chemo and radiation
- Chronic conditions
- CT scans
- Emergency and specialist care
- Euthanasia if necessary
- Hereditary and congenital disorders
- Hospitalization
- Lab tests
- Orthodontic treatment
- Pet ambulance transportation
- Prescription medications
- Surgeries
- Ultrasounds
- X-rays
Add-Ons
You can also pay an extra monthly fee to include one of Figo’s three add-ons with your base plan.
The Wellness Coverage add-on reimburses routine preventive care such as annual wellness checkups, vaccinations, grooming, dental cleanings, flea and tick treatments, heartworm treatments, deworming, microchipping, spaying and neutering, and other vet care that isn’t medically necessary. The Basic wellness plan offers $135 of annual coverage and costs an additional $9.50 per month. The Plus plan offers $250 of annual coverage and costs an additional $16.50 per month.
Many pet insurance companies don’t cover vet exam fees for diagnosing and treating your pet’s accidents and illnesses. You can pay an additional $3.88 per month to get these costs reimbursed under Figo’s Vet Exam Fee add-on.
Finally, you can pay an additional $6.62 per month for Figo’s Extra Care add-on. This reimburses you for various pet-related expenses, such as lost pet advertising/reward, vacation cancellation due to pet emergency, boarding fees, cremation and burial (up to $250 annually), pet theft or loss (up to $15 annually), and third-party property damage caused by your pet (up to $10,000 per policy period and subject to a separate deductible).
What Does Costco Pet Insurance Not Cover?
Costco pet insurance has similar exclusions to other providers, including the following items:
- Breeding, pregnancy, or birth
- Cosmetic surgeries
- Cloning procedures
- Experimental procedures
- Preexisting conditions
Where is Costco Pet Insurance Available?
Costco pet insurance is available in every state except Tennessee. The enrollment fee is waived for all Costco executive members except those in Rhode Island and Michigan. Non-executive members, except for those in Maryland and New York, must pay the $15 enrollment fee.
Find the Best Pet Insurance in Your State
How Do Customers View Costco Pet Insurance?
We reviewed more than 100 customer reviews for Figo on sites such as the Better Business Bureau (BBB) and Trustpilot. The company has a B rating* with the BBB, which is lower than other top companies.
“My first time ever filing a claim and was pleasantly surprised when my reimbursement was deposited in three days! Very happy with coverage, cost and service.”
Debbie via Trustpilot
“Love this company! I have had them for over a year now, and while I haven’t had to contact them frequently (knock on wood), when I have had to they are courteous and knowledgeable. The reimbursements arrive quickly and without issue! I highly recommend them to everyone!”
JEP via Trustpilot
“The company policy is incredibly misleading. They gave us a lower quote that was inaccurate for our pet. Then, when we accepted the quote, they immediately raised that quote significantly and would not refund the initiation fee. It has been nearly 3 weeks and we have not received a refund for the policy itself and every time we call, the customer representative tells us that they are unable to process because the accounting office is closed, and it will be done in another 3-5 business days.”
Max K. via BBB
“They are very dishonest in their medical evaluations. They search back in a clients’ history to find a one time event of the pet having a cold and then call that a chronic condition!”
Diana G. via BBB
*BBB ratings are current as of March 2023.
Is Costco Pet Insurance Worth It?
Through its partnership with Figo, Costco offers comprehensive pet insurance plans with a short waiting period for accidents, a 100% reimbursement rate option, and unlimited coverage options. It also offers a 15% discount to Costco members, making its monthly premium prices competitive.
On the downside, its deductibles are based on your pet’s age, so you’ll have to meet a higher deductible as your pet gets older. The company also has a six-month waiting period for orthopedic conditions, though you can work around it if your vet signs a waiver within the first 30 days of your policy.
We recommend requesting quotes from at least three pet insurance companies to compare pricing and coverage and find the best fit. Lemonade, Spot, or Embrace are all on our list of top providers. Start by getting an online quote from Figo to see what your monthly premium would be, then subtract your 15% Costco membership discount.
FAQs About Costco Pet Insurance
What kind of insurance does Costco have?
Costco has homeowners, auto, and pet insurance. It partners with American Family (AmFam) under the brand name Connect for its auto and homeowners insurance. It partners with Figo for pet insurance. Costco members get a 15% discount on their policies by purchasing insurance through the company.
What is a deductible in pet insurance?
A deductible is the monetary amount you’re required to pay per year before your insurance provider will begin to reimburse you for vet bills. You can often choose your own deductible from a range between $100 and $1,000.
How long does it take to get pet insurance at Costco?
Costco members can enroll in pet insurance anytime. Policies are effective at 12:01 am standard time at your mailing address the day after enrollment.
Our Rating Methodology
We are dedicated to thorough, in-depth reviews of each product or service that we detail in our content. Determined to build trust with our readers through transparency, accuracy, and accountability, we’ve built a detailed rating system to score pet insurance brands. Included in this methodology are the following six factors with their respective scoring weights:
- Coverage (25)
- Plan options (20)
- Monthly cost (20)
- Company reputation (15)
- Customer service (10)
- Species eligibility (10)
Our researchers keep all data in each company’s score up to date, making any changes to our content when necessary to provide our readers with the most accurate information on relevant metrics, such as plan options, customer service, reputation, and monthly cost.
To share feedback or ask a question about this article, send a note to our Reviews Team at reviews@thisoldhousereviews.com.
