Costco Pet Insurance Review (2023)

Costco Pet Insurance Review

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Costco (run by Figo) Pet Insurance is a popular choice for many pet owners. Read this Costco Pet Insurance review to see if it could be a good choice for you and your pet.

One of the biggest concerns of pet owners is keeping them as healthy as possible. Some dogs and cats seem to go through their lives never getting injured or ill, while other pets seem to almost be accident and illness-prone. Keeping some pets healthy can be expensive, which is why so many pet owners choose to buy pet insurance. What’s a good pet insurance policy? The numerous pet insurance companies make choosing one very difficult.

About Costco Pet Insurance

Costco Pet Insurance is a benefit offered through Figo Pet Insurance for Costco members. Although it may be called Costco pet insurance, it’s actually offered through Figo Pet Insurance. Pet insurance is not only offered to Costco members but is offered at a discount price. This affordable pet insurance can make the difference in being able to afford to provide your pet with the veterinary care it needs when it needs it.

Costco Pet Insurance Review: Coverage

There are several benefits to using Costco or Figo pet insurance. Unlike some pet insurance companies that require you to only use vets in a certain area or network, there is no network limit to Costco’s insurance coverage. They also provide vet service 24/7 so your pet will never have to wait to get service during “banker’s hours”.

Pet owners can choose between their basic accident and illness policy or can purchase a wellness plan, an extra care package, and a vet exam fee as add-ons to their basic plan. There is also no upper age limitation, which means that you can even get coverage on your older dog or cat. The price of your pet insurance will vary on several factors, including the type of animal, breed, gender, age, and location. Here are some sample quotes.

A policy on a three-year-old mixed breed medium size dog in WI with a $250 deductible, $10K annual payout limit, and 80 percent reimbursement rate is $20.67. This exact same policy would be $31.59 if the dog lived in Chicago, Ill. If the policy for the WI dog were changed to a $500 deductible and a 100 percent reimbursement rate, the premium would be $24.80.

A policy on a four-year-old mixed breed cat in WI with a $250 deductible, $10K annual payout limit, and 80 percent reimbursement rate is $10.64. The same policy would be $16.26 if the cat lived in Chicago, Illinois. As you can see, different factors can change the premium so pet owners can choose the most affordable policy while still getting the coverage they want and need.


Figo pet insurance offers three packages of coverages so you can choose the one that meets the needs of your pet and your pocketbook. Their least expensive package has an annual limit of $5K; their middle package has an annual limit of $10K, and their best package has an unlimited annual amount. The annual limit means the most that they will pay in any year.

As is the case with most pet insurance companies, there are also exceptions and exclusions regarding what Costco will and will not pay. They will cover:

  • Surgeries
  • Prescriptions
  • Hospitalization and Emergency visits
  • Hip Dysplasia
  • Knee conditions
  • Chronic Conditions
  • Imaging
  • Veterinary specialists
  • Orthopedics and prosthetics
  • Dental injuries and illnesses
  • Congenital and hereditary conditions

Here are some of the things that are not covered by the pet insurance.

  • Neutering or spaying
  • Pre-existing conditions
  • Cosmetic surgery
  • Experimental procedures
  • Cloning procedures or cloned animals
  • Pregnancy, Breeding or Birthing


You can choose from different deductibles. The deductible is the amount you have to pay before the insurance company will pay anything. You can choose from $100, $250, $500 and $750 deductible. The higher deductible you choose, the lower your premium will be. The deductible is per year and not per incident.

If you have a policy with a $250 deductible, and your vet bills you $500 for services provided to your pet in the first month of the year, your $250 deductible is satisfied for the year. Any further visits that year will not require a deductible to be paid. When customers do a Costco pet insurance review, this is one feature they find quite attractive.

In addition to deductibles, pet owners are usually also required to pay a co-pay or coinsurance. If the policy lists an 80 percent reimbursement rate, this means the pet owner would pay 20 percent of the bill after the deductible was paid. For example, your policy is a $100 deductible with a 90 percent reimbursement.

You take your dog to the vet, and the bill is $500. You will have to pay the $100 deductible, which would leave a balance of $400. Of this amount, the insurance would pay $360 (90 percent of $400), and you would pay $40 (ten percent of $400). Of this $500 bill, you would end up paying $140. Once your deductible is satisfied for the year, then you are simply paying your portion of qualified expenses, called coinsurance. Unlike a copay with human medical insurance, pet medical insurance works a little differently. You will typically have to pay the bill first, and then the pet insurance company will reimburse you based on your plan.


The claims process is relatively simple once the pet has reached its waiting period. The waiting period is one day for an accidental injury, 14 days for an illness, and six months for any orthopedic condition. Pet owners can easily submit their claims online or through their phones once the app is downloaded onto the phone. Pet owners don’t have to wait very long to be reimbursed once they’ve submitted the bill.

Anything else

Costco offers access to the Figo Pet Cloud where pet owners can not only submit their bills but also communicate with other pet owners, view their pet’s medical history, and find a list of pet-friendly locations, places, and services.