Costco Pet Insurance Reviews

Costco offers its members discounts on pet insurance plans through its partnership with Figo Pet Insurance. These plans, underwritten by Independence American Insurance Company, cover veterinary bills for accidents and illnesses. Executive members also get a discount on memberships with 24PetWatch, a pet microchip registry and lost pet recovery service.

Discounts and availability can vary based on membership level and state rules. For example, Costco does not offer discounts in Tennessee and the state of New York.

Costco members can receive discounts on Figo Pet Insurance plans, but Costco doesn’t manage the insurance itself. Customizable plans through Figo allow Costco members to adjust reimbursement percentages and deductibles to fit their budget.

Costco Gold Star and Business members may receive up to 15% off Figo’s base rates for their plans. Note that discounts aren’t available in Tennessee and New York.

With Figo, pet owners can choose any veterinarian. They’ll have to pay upfront for their pet’s treatment and then file a claim with Figo for reimbursement. Figo states it processes most claims quickly, with most being closed in about two or three working days.

There is a one-day waiting period for accident-related injuries; waiting periods for other conditions vary. For instance, Figo offers a waiver for orthopedic conditions if a customer applies within 30 days of enrollment.

A Costco pet insurance policyholder can change or cancel their plan at any time by calling or emailing Figo. You can get a full refund within 30 days if you cancel before filing any claims.

Costco pet insurance plans through Figo offer customizable coverage to meet the needs of different pets. During the pricing process, Figo provides several preselected plans, along with an option to tailor your plan. Custom options include changing the annual coverage amount, deductible and reimbursement percentage to best fit your budget and needs.

Plan customization options from Costco

You can purchase optional add-ons for veterinary exam fees, extra care for end-of-life services and wellness plans for routine care, like vaccines.

When signing up, pet owners must provide information about their pet, including age and medical history. Like many insurance companies, Figo doesn’t cover preexisting conditions like diabetes, but it does offer coverage for new conditions even if a pet has a preexisting one. It also excludes coverage for cosmetic procedures, breeding-related care, experimental treatments and cloning procedures.

However, Figo does offer coverage for “curable” preexisting conditions, such as pancreatitis, provided there are no signs or symptoms within 12 months of the initial treatment.

Costco pet insurance through Figo typically costs between $27.16 and $47.06 per month before discounts, but your final price depends on factors like your coverage choices, your pet’s details and where you live.

Costco members may qualify for discounts, which can lower monthly premiums by up to 15%. ConsumerAffairs inquired about pricing from Figo for two pets in Tulsa, Oklahoma. The following are standard quotes that don’t account for any Costco membership discounts.

Figo pricing in Tulsa, Oklahoma

The following table outlines add-on pricing for the same pets in Tulsa, Oklahoma:

Costco pet insurance through Figo may not be worth it to those who count on their insurance to pay out. Frequent complaints about denied claims have resulted in poor ratings for Figo—1.5 stars as of publishing.

Costco’s pet insurance might appeal to those looking for especially low premiums. Figo’s pricing is already competitive, and the Costco discount lowers monthly costs by up to 15%.

Lower premiums often come with trade-offs, such as stricter claim approvals and potential rate increases over time. This insurance may work for pet owners who prioritize customizable coverage and savings through member discounts over reliability in claims approval. However, those who want predictable pricing and a smoother claims process might want to consider other options.