Costco Pet Insurance: Comprehensive Coverage with Figo

Costco is known for its wide range of offerings, from groceries to auto insurance, and now, pet insurance through a partnership with Figo. If you’re a pet owner, protecting your furry friend is essential, and understanding how Costco Pet Insurance stacks up is critical in making the right choice. This article breaks down the costs, coverage, and overall value of Costco’s pet insurance plan, allowing you to decide if it’s the right option for you.

Overview of Costco Pet Insurance

Costco has partnered with Figo Pet Insurance, a well-known provider in the pet insurance space. Figo’s plans offer coverage for a wide variety of health issues, including injuries, illnesses, and congenital conditions. The insurance covers various needs such as emergency care, surgeries, diagnostic tests, and even hereditary conditions that may develop later in your pet’s life.

One key benefit of buying Costco Pet Insurance is the discount offered to members. For both Gold Star and Executive Members, a 15% discount on premiums is available. Executive Members enjoy an additional perk: the $15 enrollment fee is waived. Costco also provides a 5% discount for insuring multiple pets under the same policy.

Coverage Options

Costco Pet Insurance offers customizable coverage, meaning pet owners can tailor their policies based on their pet’s needs and budget. Policyholders can adjust the following parameters:

• Annual coverage limits: This is the maximum amount Figo will pay out for claims each year.
• Deductibles: The amount you pay out of pocket before the insurance kicks in. Higher deductibles lower your premium.
• Reimbursement rates: This determines how much you get back from a claim, ranging from 70% to 100%.

In addition to the standard accident and illness coverage, Costco members can add optional wellness packages, which include routine care services like annual vet visits, bloodwork, and vaccinations. Unlike many pet insurance providers, Figo has no upper age limit, so you can insure senior pets without concern about age restrictions.

Cost Breakdown

The cost of Costco Pet Insurance varies based on several factors, including your pet’s age, breed, and location. However, Costco members can benefit from significant discounts.

• Premium Discounts: Both Gold Star and Executive Members receive a 15% discount on their premiums.
• Enrollment Fees: Executive Members benefit from a waived $15 enrollment fee, making the initial cost lower than other pet insurance options.
• Multiple Pet Discount: If you have more than one pet, Costco offers an additional 5% discount for each pet added to your policy.

While premiums depend on the pet’s age and health history, basic plans can start at around $25 per month, with wellness packages and higher coverage limits leading to higher premiums.

How It Works

When your pet needs medical care, you can submit claims to Figo through their online portal or mobile app. The process is straightforward:

1. Submit your claim: Upload the necessary documents (like vet bills) via the Figo Pet Cloud, email, fax, or mail.
2. Review Process: Claims must be submitted within 90 days of the date of service, after which Figo will review the claim.
3. Reimbursement: Once the claim is approved, you’ll receive reimbursement based on your chosen reimbursement rate.

Figo’s Pet Cloud app is user-friendly, allowing you to manage your pet’s health records, chat with a licensed vet, and file claims with ease.

Things to Consider

Before choosing Costco’s pet insurance, here are some factors to keep in mind:

1. Waiting Periods: Costco’s pet insurance, like most policies, has waiting periods for coverage. Accidents generally have a 1–3 day waiting period, while illnesses have a 14-day waiting period.
2. Exclusions: Certain conditions, such as pre-existing conditions, are not covered by Costco’s pet insurance plan. It’s essential to carefully review what is and isn’t covered to avoid any surprises.
3. Claim Denials: Some users have reported dissatisfaction with Figo, citing claims being denied for reasons such as the retroactive classification of health issues as pre-existing conditions. Reading the fine print and understanding the policy thoroughly before purchasing is advised​
4. Wellness Packages: While wellness packages are optional, they can add significant value by covering routine care, which isn’t typically included in standard insurance plans. However, these packages come at an additional cost.

Policy Exclusions & Considerations

Like all insurance, Costco’s plan has exclusions. Here’s what is not covered unless added as an optional upgrade:

• Pre-existing conditions
• Routine dental cleanings (only accident-related dental work covered)
• Pregnancy or birthing costs
• Behavioral therapy
• Elective/cosmetic procedures (declawing, tail docking, etc.)
• Alternative therapies like acupuncture (unless added)
• Experimental drugs or treatments
• Routine vet visits without wellness add-on

Other key considerations:

• Orthopedic conditions may require longer waiting periods
• Bilateral conditions (e.g., hip dysplasia) may only be covered on one side
• Breed-specific exclusions could apply
• Senior pets: No upper age limit, but illness coverage can shrink as pets age
• Diet/supplement costs generally excluded
• Lost pet advertising/rewards: Only covered if specifically added

FAQ

1. What does Costco Pet Insurance cost?

The cost depends on your pet’s age, breed, and health, but Costco members enjoy a 15% discount on premiums. Plans can start as low as $25 per month.

2. Does Costco Pet Insurance cover vaccines?

Vaccines and routine care are covered under optional wellness packages, which are available for an additional cost.

3. How much should you spend on pet insurance for a dog?

Premiums vary based on the level of coverage, but a typical range for dogs is between $25 to $50 per month, depending on the breed, age, and health conditions.

4. What insurance does Costco cover?

Costco offers various types of insurance, including pet insurance, health insurance, and auto insurance. For pets, Costco partners with Figo to provide customizable coverage plans.

Conclusion

Costco offers solid pet insurance options through its partnership with Figo, especially for members who can take advantage of premium discounts and waived fees. With customizable policies, easy claims filing, and no upper age limit for pets, this insurance could be an excellent choice for pet owners seeking flexibility and peace of mind. Be sure to read the policy carefully, especially regarding pre-existing conditions, and consider your pet’s needs before making a decision.

For more detailed reviews and experiences, contact us and get quality pet insurance coverage at a tailor made price based off of need.