Our Thoughts on Costco Pet Insurance
Costco is partnered with Figo Pet Insurance, which offers accident and illness pet insurance plans with optional add-on coverage. It offersCostco members an exclusive 15% discount on pet policies.
Figo earned 4.7 out of 5 stars based on our objective rating methodology, and we believe existing Costco members can find value in the company’s coverage and service when buying a Figo plan with Costco benefits.
Figo is a Chicago-based pet insurance provider that offers good coverage, quality customer service, fast claims processing and transparent policies at below-average prices. Costco members purchasing a pet insurance policy can expect the same benefits as other Figo policyholders but at a lower price.
Costco Pet Insurance, administered by Figo, offers several ways to customize plans, including a 100% reimbursem*nt rate. Policies include most standard veterinary services, but exam fees and prescription food come at an added monthly cost. Although Costco has strong plans overall, it offers lower reimbursem*nts for wellness plans than some other options.
Pros and Cons
Pros
Costco customers get exclusive discounts on Figo pet insurance plans
Offers a 100% reimbursem*nt rate
May cover curable pre-existing conditions after 12 months of no symptoms
Features a user-friendly and award-winning Pet Cloud app
Fast claims processing and reimbursem*nts
Cons
Older pets do not qualify for the lowest deductible options
Minimal wellness plan reimbursem*nts compared to some competitors
Enforces a six-month waiting period for orthopedic conditions
How Costco Pet Insurance Scored in Our Methodology
Costco earned a rating of 4.3 out of 5 stars based on our pet insurance methodology. The company earned high scores in coverage, covered treatment and customer experience categories but lost points for its cost and industry standing.
Flip Card Costco Pet Insurance Rating
MarketWatch Rating 4.3 / out of 5 stars
Rating is based off of MarketWatch Methodology Guidelines
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Rating breakdown
Cost and Discounts Costco received .34 points in this category for offering above-average premiums across our sample pet types. 3.4 / 5
Coverage Costco scored nearly full points for offering customizable accident and illness coverage, including unlimited and 100% reimbursem*nt options. However, the company does not offer an accident-only plan. 4.9 / 5
Covered Treatments Costco received 4.7 points for covering several treatments, including alternative therapies, behavioral issues and end-of-life care, in its base coverage. The company lost some points for only offering vet exam fees as an add-on. 4.7 / 5
Customer Experience Costco earned 4.5 points because it offers a website chat, highly rated mobile app and vet chat line, but no 24/7 customer service. 4.5 / 5
Industry Standing Costco received 3.2 points because it has fewer years of industry experience than other companies we’ve reviewed and low Better Business Bureau (BBB) and TrustPilot customer review scores. 3.2 / 5
Availability Costco earned a perfect score in this category for offering coverage in all 50 U.S. states and internationally. The company also does not exclude pets from coverage based on breed or age. 5 / 5
How Much Does Costco Pet Insurance Cost?
Costco runs its pet insurance plans through Figo, a standard pet insurance company. While it offers the same coverage as Figo, the price differs — Costco members can save hundreds of dollars in premiums each year compared to standard Figo policyholders.
According to quotes we collected for sample pets in each state, the average monthly cost of a Figo plan is $25 for cats and $54 for dogs. Costco has a 15% discount on Figo policies for Gold Star and Business Members. For Executive Members, it waives the $15 enrollment fee. Factoring in the discount, Costco members can expect to pay an average of $21 per month for cats and $46 for dogs. Costco members are also eligible for a 5% multi-pet discount for each additional pet added to the policy.
| Accident and Illness | Wellness Basic | Wellness Plus | |
|---|---|---|---|
| Average monthly cost* | $33 | $10 | $17 |
| Summary | A base policy that covers pet-related accidents and illnesses, including a 15% Costco membership discount. | A basic wellness plan that covers routine care such as annual vet visits, up to $135 per year. | A more comprehensive wellness plan that includes a higher reimbursem*nt benefit of $250 per year. |
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*We calculated average costs using the following sample pets: a 5-year-old medium, mixed-breed dog, a 2-year-old golden retriever, a 5-year-old mixed-breed cat and a 2-year-old Siamese cat.
Costs can vary considerably for Costco members and depend on their location and pet’s species, age, and breed. Policyholders may also see annual plan increases based on inflation and as their pets age. However, Figo says it will not raise rates in response to claims history.
MarketWatch Guides Tip
Costco Pet Insurance, administered by Figo, offers members high-level coverage at a discounted rate. Costco plans average $33 per month, which includes a 15% discount, compared to the industry average of $49 per month.
What Does Costco Pet Insurance Cover?
Costco members can buy a pet insurance plan by calling or texting customer service or visiting the Costco website. Although the website redirects customers to Figo’s website to sign up, the initial page includes a Costco member discount for the quote and outlines what is and is not covered. Aside from the discount, plan options for Costco members are identical to what Figo offers.
Costco provides a base accident and illness plan with several ways to customize coverage with optional riders. During enrollment, the quote tool suggests plan combinations across three coverage levels: Popular, Higher Coverage and Value Plus. Each level includes a varying reimbursem*nt rate, deductible and annual coverage limit. Pet owners can also use the custom plan button to set their own parameters.
Accident and Illness Plan
Costco has an accident and illness plan available in three tiers that cover pet-related injuries, accidents and illnesses. Here is a breakdown of each coverage level:
| Popular | Higher Coverage | Value Plus | |
|---|---|---|---|
| Reimbursem*nt rate | 80% | 90% | 70% |
| Deductible | $250 | $500 | $500 |
| Annual coverage limit | $10,000 | Unlimited | $10,000 |
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Costco’s accident and illness policy covers the following conditions and related services, regardless of the chosen coverage tier.
- Accidental injuries
- Acute illnesses
- Chronic diseases
- Dental injuries and illnesses
- Hereditary, breed-related and congenital conditions
- Orthopedic conditions
- Cancer treatments
- Complementary and alternative therapies
- Diagnostic tests
- Emergency care
- Hospitalization
- Prescription medications
- Prosthetics
- Rehabilitation and mobility devices
- Specialty treatments
- Stem cell therapy
- Surgeries
Like all pet insurance providers, Costco will not cover pre-existing conditions. A pre-existing condition causes symptoms or was diagnosed by a veterinarian before a pet enrolled in coverage — or one that occurred during a waiting period.
Costco plans also exclude elective and cosmetic procedures, experimental therapies, parasite treatments and cloning. You can reference a sample Figo plan to learn more about coverage and exclusions.
Wellness Coverage
Pet parents can outfit a Costco plan with optional wellness coverage, which covers routine services such as annual vet exams and vaccinations. These plans cost a fixed monthly amount and reimburse pet owners according to a predetermined fee schedule.
Costco has two wellness plans, providing up to $135 or $250 in annual reimbursem*nts. Compared to other providers, reimbursem*nt benefits are relatively low. We recommend weighing how much you may pay for a wellness plan compared to your pet’s annual routine care costs when determining if coverage is worth it.
Each plan has a separate monthly cost — Wellness Basic costs $10 and Wellness Plus costs $17 —and you can buy coverage for individual service options.
| Service | Cost Under Wellness Basic | Cost Under Wellness Plus |
|---|---|---|
| Wellness exams | $20 | $40 |
| Vaccines | $30 | $50 |
| Spay, neuter or teeth cleaning | $40 | $75 |
| Screening tests | $20 | $45 |
| Microchip or health certificate | $15 | $30 |
| Deworming | $10 | $10 |
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Optional Add-On Coverage
Although Costco plans do not cover fees related to veterinary exams or consultations, policyholders can add coverage during the online enrollment process. For a 5-year-old, medium-sized mixed-breed dog, the add-on costs $7 per month. It also includes coverage for prescription food when used to treat a covered condition.
The company previously offered another add-on option called the “Extra Care Pack” but it has been removed from the online quote tool. Customers desiring this option can call customer service to add it shortly after enrollment or during annual policy renewal. It covers costs related to the following:
- Pet cremation and burial
- Lost pet advertising and rewards
- Vacation cancellation due to a pet injury or illness
- Pet theft
- Emergency boarding fees
- Third-party property damage liability
Customizable Coverage Levels
Costco Pet Insurance, administered by Figo, allows pet owners to choose between several pre-set coverage levels or customize their policy parameters. Costco recommends customers choose the highest coverage level within their budget at enrollment because you can decrease — but not increase — coverage at each annual renewal.
Deductible Options
The deductible options available at enrollment differ based on a pet’s age. While deductibles range from $100 to $1,500, customers are given three choices within this range during enrollment. The company offers the lowest deductibles to pets under 5 years old while those 10 years and older have the highest deductible options.
Reimbursem*nt Rates
Costco reimbursem*nt rates are among the most flexible on the market, based on our comprehensive review. Customers can choose from 70%, 80%, 90% and 100% reimbursem*nt rates. However, choosing a full 100% reimbursem*nt is subject to higher deductibles and lower annual limits than with a lower rate.
Annual Limit Options
Costco plans, administered by Figo, have three annual limit choices: $5,000, $10,000 or unlimited. Costco plans do not impose per-incident or lifetime maximum limits.
Policy Sign-Up, Claims Filing and Payout Processes
Costco members who want to buy pet insurance can sign up by contacting Costco customer service or visiting the Costco website. There, customers will find a link that directs them to Figo and Costco’s joint quote and enrollment page. After choosing a coverage level, deductible, reimbursem*nt rate and optional add-ons, customers can apply their Costco discount and see how much they save on annual premiums.
Also on the enrollment page, pet owners can review policy inclusions and exclusions, including the opportunity to review a sample policy. Throughout the sign-up process, the Figo customer care team is available via website chat, text or phone call if assistance is needed.
Once enrollment is complete, the plan is completely administered by Figo. New customers receive sign-up emails with directions to download Figo’s award-winning Pet Cloud app and set up an online account. Through this account, policyholders can upload medical records, which allows the Figo team to review your pet’s health history and determine if it has pre-existing conditions. Customers can also use the app to contact a 24/7 vet helpline and connect with other pet owners.
To file a claim, policyholders can open the app or log in to their online account. The company’s artificial intelligence (AI) assistant, Evie, walks pet owners through the claims process, including document upload, and gives customers a timeline for expected completion. Claim status updates are also available in the app or via email.
Costco reviews and reimburses most customer claims in only a few days, offering payment via direct deposit or check. If additional documentation is needed, the Figo care team will reach out directly to obtain vet notes and records. Customers can also submit pre-approval requests before filing large claims.
Costco and Figo customers typically find the sign-up and claims process easy to navigate with the Pet Cloud app, based on our analysis of Trustpilot customer reviews. Some reviewers noted vague policy language and were not sure what their plan covered, but also said customer service representatives would answer questions at any time. As we worked on this review, we reached out to customer care via web chat and got an immediate and helpful response from a real, live human.
Costco Pet Insurance Waiting Periods and Age Restrictions
Costco’s accident and illness plan has a one-day waiting period for accidents, one of the shortest on the market — and customers can get it waived in some states. Additional waiting periods include 14 days for illnesses and six months for orthopedic injuries. Wellness plan claims are not subject to a waiting period.
Policyholders can seek a veterinary exam shortly after enrollment to “certify” their pet’s knees and waive the six-month waiting period for knee ligament injuries. However, Costco has no waiver for hip dysplasia coverage.
Costco plans do not have an upper age limit for enrollment, making it a considerable choice for senior pets enrolling for the first time or switching from another provider. Puppies and kittens must be at least 8 weeks old to enroll, and owners must already own the pet to open a policy. In other words, if you are adopting a dog, it will not qualify for coverage until you have the animal in your possession.
What Customers Think About Costco Pet Insurance
Costco partners with Figo to provide pet health coverage to its members. Although reviews for Costco-specific plans are not available, our analysis assumes pet owners enrolling through Costco will have similar experiences to other Figo customers.
We combed through Figo reviews on Trustpilot to identify the top likes and dislikes of real-world policyholders. Figo has an overall rating of 4 out of 5 stars, with 77% of consumers rating the company positively. However, 23% of customers gave Figo a star rating of three or under.
What Customers Like
- Fast claims processing and reimbursem*nts: Although Figo states customers should allow several weeks for claims processing, several reviewers said they had reimbursem*nts in their accounts within hours or days.
- Quality customer service: Some reviewers, such as this one, mentioned helpful and easy-to-reach customer service agents who demonstrated honesty and integrity.
- Top-rated mobile app: Figo’s app makes keeping vet records, filing claims and reaching the 24/7 free veterinary support line easy, based on some customer reviews.
- Costco discount: Costco customers seem to appreciate the members-only pricing they receive on their policies.
What Customers Don’t Like
- Premium increases: Like other pet insurance providers, Figo may periodically raise pet insurance premium rates as your pet gets older or to keep up with inflation.
- Claims denials: Some customers reported unfair claims denials, especially relating to pre-existing conditions.
- Minimal wellness reimbursem*nts: Several reviewers complained about the wellness plan itemizations and low overall reimbursem*nts.
We reached out to Costco for comment on the above-listed negative reviews but did not receive a response.
Costco Pet Insurance vs. Other Pet Insurance Companies
See how Costco Pet Insurance compares to other top providers in the table below.
| Company | Monthly Cost | Star Rating | Accident Waiting Period | BBB Rating | Visit Site |
|---|---|---|---|---|---|
| $25-$54 | 4.3 | 1 day | A+ | EXPLORE PLANS |
| $15-$30 | 4.8 | 2 days* | N/A | EXPLORE PLANS |
| $51-$68 | 4.4 | 14 days | A | EXPLORE PLANS |
| $38-$50 | 4.5 | 14 days | N/R | EXPLORE PLANS |
| $53-$64 | 4.6 | 48 hours | A+ | EXPLORE PLANS |
| $43-$50 | 4.5 | 15 days | A+ | EXPLORE PLANS |
| $35-$49 | 4.3 | 15 days | A+ | EXPLORE PLANS |
| $35-$50 | 4.2 | 14 days | A+ | EXPLORE PLANS |
| $33-$41 | 4.8 | 3 days | A+ | EXPLORE PLANS |
| Company | BBB Rating | Monthly Cost | Star Rating | Accident Waiting Period | Visit Site |
|---|---|---|---|---|---|
| A+ | $25-$54 | 4.3 | 1 day | EXPLORE PLANS |
| N/A | $15-$30 | 4.8 | 2 days* | EXPLORE PLANS |
| A | $51-$68 | 4.4 | 14 days | EXPLORE PLANS |
| N/R | $38-$50 | 4.5 | 14 days | EXPLORE PLANS |
| A+ | $53-$64 | 4.6 | 48 hours | EXPLORE PLANS |
| A+ | $43-$50 | 4.5 | 15 days | EXPLORE PLANS |
| A+ | $35-$49 | 4.3 | 15 days | EXPLORE PLANS |
| A+ | $35-$50 | 4.2 | 14 days | EXPLORE PLANS |
| A+ | $33-$41 | 4.8 | 3 days | EXPLORE PLANS |
No results were found.
Costco Pet Insurance vs. Lemonade
Lemonade and Costco each offer pet insurance plans at competitive prices, but note Costco administers its plans through Figo. Although Lemonade’s plan is priced lower than Costco’s, it includes fewer standard coverages. To match Costco’s coverage, Lemonade policyholders must opt for several add-ons that increase monthly premiums. Additionally, unlike Lemonade, Costco provides a 100% reimbursem*nt option.
Both companies use AI to assist in claims processing, although Costco plans also use human customer service agents and claims adjusters.
| Costco | Lemonade | |
| Reimbursem*nts | 70%–100% | 70%–90% |
| Deductibles | $100–$1,500 | $100–$750 |
| Annual limits | $5,000, $10,000 or unlimited | $5,000–$100,000 |
| Average cost for dogs | $54 per month | $30 per month |
| Average cost for cats | $25 per month | $16 per month |
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Check out Lemonade’s website for a quote or read our full review to learn more.
Costco Pet Insurance vs. Spot
Costco and Spot are close competitors, each offering similarly comprehensive coverage. Costco policies, administered by Figo, cost less than Spot’s, but Spot includes exam fees while this coverage is only available with Costco for an additional monthly fee. Spot also offers a wide selection of deductible and annual limit options, while Costco’s policy options depend on the pet’s age at the time of enrollment.
Neither plan places an upper age limit on enrollment, making either a potentially good option for senior pets. Budget-minded Costco members may find the best value in a discounted Figo plan. However, those concerned about the company’s lengthy orthopedic waiting period may prefer Spot.
| Costco | Spot | |
| Reimbursem*nts | 70%–100% | 70%–90% |
| Deductibles | $100–$1,500 | $100–$1,000 |
| Annual limits | $5,000, $10,000 or unlimited | $2,500–unlimited |
| Average cost for dogs | $54 per month | $75 per month |
| Average cost for cats | $25 per month | $34 per month |
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Check out Spot’s website to get a quote or learn more by reading our complete Spot review.
Where Is Costco Pet Insurance Available?
While Figo is licensed to operate in all states, Costco membership availability may vary. Costco has warehouses located across the U.S. and in several other countries. However, not all states have a Costco. If you are located near a Costco and have a membership, you may be eligible for a discounted Figo plan. Check with your local warehouse, contact customer care, or visit the Costco pet insurance website to obtain a quote and determine if plans are available in your area.
Looking for pet insurance plans in your state? Check out our state guides to learn more.
Pet Insurance by State
Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Washington DC Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
Frequently Asked Questions about Costco Pet Insurance
Costco pet insurance is made possible by the company’s partnership with Figo, a pet insurance provider. Costco members who sign up through the retailer can get 15% off their pet’s Figo plan premiums.
Costco pet insurance has a six-month waiting period for orthopedic conditions. The insurer can waive the waiting period for knee injuries if a veterinarian certifies your pet as having healthy knees after sign-up. However, the waiver does not apply to hip dysplasia. If signs or symptoms occur before enrollment or during the waiting period, your pet will not have coverage in the future.
Figo administers Costco’s pet insurance plans. Customers with questions or who need help filing a claim can reach Figo’s customer care team from Monday to Saturday via phone call, text message, email or website chat.
To enroll in a Figo plan through Costco, visit the Costco Pet Insurance website and follow the prompts. The company will redirect you to Figo’s website and apply your discount. You can also contact Costco customer service for assistance with enrollment.
Methodology: Our System for Rating Pet Insurance Companies
We review each pet insurance company based on factors most important to pet parents like you. Our process includes in-depth industry research into each provider, such as comparing coverage options, gathering quotes online to determine pricing and reading reviews to assess customer service. To better inform our reviews, we’ve surveyed 3,000 dog and cat owners nationwide to determine the most important elements of pet insurance coverage. We’ve also bought pet insurance plans for 10 of our team’s pets to test the customer experience of various providers for ourselves.
We then score each provider on a 100-point scale and calculate an overall rating out of five stars. Here are more details about the factors we consider when reviewing pet insurance providers:
- Costs and Discounts (22.5%): To assess pricing, we collected sample quotes for 10 mixed-breed and purebred dogs and cats, ranging from 3 months to 8 years old. Our team collected a total of 17,330 quotes directly from 22 provider’s websites, requesting at least two quotes for all 50 U.S. states from every insurer and pet profile. Providers earn the most points in this category for offering affordable coverage and more than four discount options to customers.
- Coverage (22.5%): The best pet insurance companies offer a range of plans, customization options and more so pet owners can choose the right coverage. Companies offering a wide variety of coverage options earn full points in this category. We also look at waiting periods and award the most points if companies offer policies with shorter waiting periods than its competitors.
- Covered Treatments (17.5%): According to our survey of pet owners, coverage is one of the most important factors when shopping for pet insurance. Companies with a breadth of included treatments and unique coverages as standard within their policies receive more points in this category than those with less options.
- Customer Experience (17.5%): Respondents to our survey also valued customer service when comparing pet insurance providers. We score each company based on its website accessibility and overall usability, customer service, mobile apps, money-back guarantees and veterinarian telehealth options. The insurers with the most customer experience offerings receive the most points.
- Industry Standing (10%): We review up-to-date ratings and accreditation information from the Better Business Bureau (BBB) and Trustpilot, and score companies based on customer reviews and years of industry experience.
- Availability (10%): Some companies do not offer policies for pets over a certain age. For this category, we deduct points from providers that have age limits for older pets. We also consider state availability, international coverage and if a company extends coverage options to breeds considered dangerous.
We use our rating system to compare each company we review and determine the best pet insurance companies in the industry. To learn more, read our full pet insurance methodology to see how we review and score providers.
A.M. Best Disclaimer
If you have feedback or questions about this article, please email the MarketWatch Guides team at editors@marketwatchguides.com.
