Costco Pet Insurance Review 2022 – Forbes

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Fact Checked
Fact Checked
Published: Jul 15, 2022, 7:00am
Costco has partnered with Figo pet insurance to offer a competitive price for pet insurance. If you like Figo’s pet insurance and you’re a Costco member, you can buy through Costco and get a special discount.
Related: Best Pet Insurance
As a Costco member, you have the opportunity to purchase Figo pet insurance at a discounted rate. Gold star and business members will get a 15% discount on pet insurance, and executive and business executive members will get the $15 enrollment fee waived in addition to a 15% discount.
Figo pet insurance offers solid, comprehensive coverage along with additional perks such as 24/7 access to expert vet advice, VIP customer service support through phone, email, text or chat, and the Pet Cloud, which can help you organize your pet’s digital medical records, vaccinations and appointment schedules.
In addition to pet insurance, you can also take advantage of Kirkland Signature pet food and pet medications at the Costco pharmacy.
Costco’s pet insurance from Figo covers both accidents and illnesses. Some of the problems covered include:
For an additional fee, you can add coverage for veterinary exam fees and a routine wellness plan, which covers vaccinations, routine checkups and routine dental care.
Although a Costco pet insurance plan from Figo offers robust coverage, there are some things it doesn’t cover. These exclusions are also typical among other pet insurance plans:
With all pet insurance plans, you must wait a certain period of time before your insurance begins reimbursing you for vet costs, known as a waiting period. When you buy pet insurance from Costco, three waiting periods apply:
Although the 14-day waiting period for illnesses is pretty standard across the industry, Costco’s one-day waiting period is competitive. For example, ASPCA pet health insurance, Nationwide pet insurance and TrustedPals have 14-day accident waiting periods.
While Costco pet insurance does have an extended waiting period for orthopedic conditions, it’s possible to remove it by getting an orthopedic waiver signed by your licensed vet. You must get the waiver signed within the first 30 days of your policy.
You can enhance Costco pet insurance by adding a variety of coverage add-ons, which Figo refers to as “Powerups,” when you buy a policy. You can add and remove Powerups at policy renewal time.
Here are some of the coverage add-ons you can choose from.
Costco’s wellness add-on helps you with the costs of maintaining your pet’s health. Some expenses covered under this powerup include:
This benefit covers the cost of exam and consultation fees for a new illness or injury.
The Extra Care Pack offers a variety of additional coverage options, including:
Maximum annual limit options: Many pet insurance companies apply a coverage cap to your pet plan, limiting the total amount of expenses they will reimburse you for in a year. Costco’s pet insurance has three coverage limits options to choose from:
Deductible options: What you pay out-of-pocket before your insurance picks up the bill is your deductible. With Costco pet insurance, you have several deductible options based on your pet’s age.
Pets age 5 and under:
Pets between the ages of 6 and 9:
Pets age 10 and older:
Reimbursement options: The reimbursement level is the portion of your vet bills your insurance provider will cover after you meet your deductible. Costco pet insurance has these reimbursement choices:

Both Costco and Nationwide pet insurance have accident and illness plans covering everything from arthritis treatments to minor skin lacerations.
Costco and Nationwide both have a 14-day waiting period for illnesses. However, Costco has a one-day waiting period for accidents, while Nationwide has a 14-day accident waiting period.
Both companies also have extended waiting periods for other conditions. For example, Nationwide has a 12-month waiting period for cruciate ligaments or meniscus (knee) injuries, and Costco has a 6-month waiting period for orthopedic conditions. However, Costco pet insurance will waive the extended waiting period if your vet signs an orthopedic waiver within the first 30 days of your policy.
Another key difference between the two companies is that Costco offers an extra care pack add-on that covers expenses like boarding fees, property damage liability and vacation cancellations if you delay your trip due to a pet emergency. Nationwide doesn’t offer any of these options.
Nationwide includes exam fees in its plans, while you must buy the extra Wellness power-up from Costco if you want coverage for exam fees.
Pets between the ages of 6 and 9:
•  $250
•  $500
•  $750
•  $1,000
Pets age 10 and older:
•  $500
•  $750
•  $1,000
•  $1,500

Costco and Trupanion pet insurance offer accident and illness plans. Costco lets you customize your policy by adding extra coverage for wellness care, exam fees and boarding expenses—Trupanion doesn’t offer these options.
Costco pet insurance has a one-day accident and 14-day illness waiting period, while Trupanion has a five-day waiting period for accidents and a 30-day illness waiting period. Trupanion has a 12-day waiting period for accidents and illnesses for pet owners in Florida.
Trupanion does not have an extended waiting period for other conditions, while Costco has a six-month waiting period for orthopedic conditions. However, Costco will waive this waiting period if your vet signs an orthopedic waiver within the first 30 days of your policy.
Another significant difference between the two companies is that Trupanion gives pet owners the option to pay the vet directly if the vet has compatible software—Costco pet insurance does not have this option. But Costco includes extra perks, like a 24/7 vet helpline and the Pet Cloud app, which helps pet owners organize medical records and appointments. Trupanion doesn’t offer these additional perks.

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