Costco Pet Insurance Review

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Contributor, Benzinga
January 25, 2022
Costco Pet Insurance
Overall Rating:
securely through Costco Pet Insurance's website

Costco Wholesale Corp. (NASDAQ: COST) pet insurance is offered through Figo, a leading pet insurance company. Figo is made up of self-described  pet-people who are passionate about making life easier for pet parents. The company offers three pet insurance plans as well as additional coverages that can be added on to the plans. Costco members can receive a 15% discount on pet insurance policies purchased through the Costco/Figo partnership.

Like its competitors, Figo does not offer coverage for pre-existing conditions. However, it does offer unlimited pet insurance and does not have upper age limits for the pets that it will cover. The quote process is easy and the plans are highly-customizable, making this a great option for many pet parents.

Best For
  • Costco members
  • People who want unlimited coverage for their pet
  • Anyone who wants a pet insurance with a 100% reimbursement option
  • One-day waiting period for accident coverage
  • Flexible plan options to customize coverage
  • No upper age limit on pets
  • Veterinary exam fees for accidents and illnesses not part of standard coverage

Costco Pet Insurance Ratings at a Glance

Policy Options
Customer Service
Application Experience
Overall Rating

Costco Pet Insurance Policy Options

Minimum Coverage$5,000
Maximum CoverageUnlimited
Eligible AgesAny
Eligible AnimalsDog; cat
# of Plan Options3

Costco’s pet insurance through Figo offers three pet insurance plans as well as optional coverages that can be added to any plan. All three plans offer the same benefits but at different coverage limits. 

Essential: The Essential plan offers $5,000 of coverage annually for your pet’s veterinary bills. 

Preferred: The Preferred plan offers $10,000 of coverage annually for your pet’s veterinary bills.

Ultimate: The Ultimate plan offers an unlimited amount of coverage annually for your pet’s veterinary bills. 

The benefits of all Costco pet insurance plans are:

  • Figo Pet Cloud (the mobile app)
  • Live vet chat 24/7
  • No per-incident cap on claims
  • No upper age limits on pets

Interestingly Figo allows you to adjust your deductible and reimbursement levels to adjust each type of policy. You’re choosing from:

  • 70% reimbursement
  • 80% reimbursement
  • 90% reimbursement
  • 100% reimbursement


  • $750 deductible
  • $500 deductible
  • $250 deductible
  • $100 deductible

You can choose any combination you please to get both the coverage and premium you desire.

If you’re wondering how pet insurance works, the most important thing to understand is the types of conditions that it covers. Coverage includes:

  • Orthopedic conditions, including ACL
  • Hip dysplasia
  • Rehabilitation
  • Mobility devices
  • Surgeries
  • Imaging
  • Non-routine dental treatment (as long as the pet doesn’t have a history of periodontal disease)
  • Prescription medications
  • Veterinary specialist treatments
  • Holistic and alternative treatments (as long as they’re performed by a licensed veterinarian)
  • Medication and treatment for behavioral problems, up to $500 or $1,000 per year
  • Pet ambulance
  • Emergency services
  • Hospitalization
  • Laboratory and diagnostic testing
  • Hereditary and congenital conditions
  • Chronic conditions
  • Cancer treatments
  • Euthanasia

Optional coverages that you can add on to your policy include:

  • Veterinarian exam fee coverage for accident and illness visits
  • Prescription food (up to $250 per year as long as veterinary exam fee coverage is added)
  • Extra care pack, which covers things like cremation and burial, lost pet advertising and award, boarding fees and third-party property damage liability
  • Wellness coverage to help pay for routine care such as vaccinations, spay/neuter, bloodwork and heartworm preventatives

As with any insurance plan, some exclusions affect Costco/Figo’s pet insurance plan. Your pet will not receive coverage for pre-existing conditions, which is any medical condition that your pet showed signs or symptoms of before the effective date of your policy or during the waiting period. Figo will determine which conditions are considered pre-existing for your pet by reviewing your pet’s medical records. In some cases, your pet insurance may cover conditions that are considered curable.

Costco/Figo’s pet insurance plans come with a few other exclusions. You will not receive coverage for experimental procedures or cosmetic surgery for your pet. If your pet is intact, you should also know that none of these plans will cover expenses related to breeding, pregnancy or giving birth. Cloned pets or cloning procedures are not eligible for coverage either. 

Costco Pet Insurance Customer Service

Figo’s customer service team is available via phone, text, email or chat. The phone line for general customer support and for claims support can reduce the wait time when placing a call.

Figo’s claims process can be started from the Figo Pet Cloud app or by filling out a physical copy of the claims form. Physical copies can either be emailed or faxed to Figo. When you submit your first claim, your veterinarian needs to send Figo the last 2 years of your pet’s medical records along with their notes. You’ll also need to submit a copy of your paid invoice each time you file a claim. Figo processes claims within 30 days of receiving all the required information and tries to complete the process within 7 to 10 business days. If you choose to receive your reimbursement via direct deposit, those funds should arrive within 3 to 5 business days after your claim has been completed. If you choose to receive reimbursement via check, you can expect to receive the check within 7 to 10 business days after the claim has been completed. 

Figo Pet Insurance is a Better Business Bureau (BBB) Accredited Business, and the BBB has given the company a B rating. This rating reflects the customer complaints that have been filed with BBB. Common complaints include rate increases after the first policy year and the denial of claims. The National Association of Insurance Commissioners (NAIC) doesn’t seem to provide insurance resources for pet insurance, so there is no NAIC complaint index for Figo.

Figo seems to have a strong financial stability rating — its top underwriter, Independence American Insurance Company has an A- rating from AM Best. This rating puts the underwriter in the Excellent category. 

BBB RatingB
AM Best RatingA-
NAIC Complaint IndexN/A
Moody’s RatingN/A
J.D. Power RatingN/A

Costco Pet Insurance Pricing

Pet insurance cost is a serious concern for pet parents. Fortunately, it’s easy to get a free online quote for Costco pet insurance. On the Costco website, you’ll want to find the pet insurance page. Then you’ll click on the “get a free quote” button to get to the Figo website where you can complete the quote process.

figo pet insurance

Costco members get a 15% discount on new pet insurance policies. If you’re an Executive member, you can also have the $15 enrollment fee waived.

The quote process only asks a few questions, including whether your pet is a dog or cat, their gender, breed and age. You’ll also need to provide your zip code. Here are some quotes to give you an idea of how much pet insurance policies cost. Both of these quotes are for policies with an 80% reimbursement rate and a $250 deductible.

SpeciesAge and genderBreedMonthly premiums
Dog2-year-old maleGerman Shepherd MixEssential: $41.12/mo
Preferred: $45.00/mo
Ultimate: $58.04/mo
Cat2-year-old maleAmerican LonghairEssential: $19.24/mo
Preferred: $24.07/mo
Ultimate: $27.17/mo

According to the North American Pet Health Insurance Association, average premiums for accident and illness coverage in the U.S. in 2021 were $48.66 per month for dogs and $28.57 for cats. However, these numbers don’t specify the age of the pets in question or the amount of coverage received at those premiums. 

In addition to the monthly premiums, Figo may charge a one-time enrollment fee, depending on the state that you and your pet live in. Figo may also charge payment processing fees, depending on the state. You can pay for your pet’s policy either annually or monthly.

Costco Pet Insurance Application Experience

The application experience for Costco pet insurance is easy and straightforward. You just have to make sure you go to Costco’s website first and let that direct you to Figo for a quote. By doing this, you’ll automatically have your Costco discount applied. 

After you’ve received your quote, you can customize your pet’s policy. First, you choose one of the three plan options. Then you can increase or decrease your reimbursement and deductible amounts. When you change these amounts, the premiums update automatically so you can see what the new price is. You’ll also have the option to add on additional benefits, including veterinary exam fees for accident and illnesses visits and wellness coverage. When you’re happy with your selections, you can continue to enroll. Or, you can save your quote for later if you want to come back to it. 

When you continue to enroll, you’ll need to put in your information as the pet parent, including your address and phone number. You can add a secondary pet parent as well. Since you’re getting Costco pet insurance through Figo, you’ll also need to enter your Costco membership number. At this stage, you can create your Pet Cloud login for future use within the mobile app.

Figo does not require a veterinary exam to enroll your pet in a pet insurance policy. You need to provide your pet’s medical records when you submit your first claim. If you don’t, the first veterinary exam after the effective date of the pet insurance policy may be used to determine pre-existing conditions. Any time you submit a claim, you’ll need to submit your veterinarian’s notes as well as the paid invoice.

Costco Pet Insurance vs. Competitors

Costco’s pet insurance stands out because you can get a significant discount on pet insurance just for being a Costco member. It’s important to keep in mind, though, that Costco’s pet insurance policies are offered through Figo. Figo stands out among its competitors for a few reasons, including the fact that you can receive 100% reimbursement on covered claims and purchase unlimited coverage. Figo’s waiting period for accident coverage is also much shorter than some of its competitors. Accident coverage begins the day after your policy effective date whereas some of Figo’s competitors have waiting periods of up to two weeks.  

  • Costco Pet Insurance
    Best For:
    Costco members
    securely through Costco Pet Insurance's website
  • Figo Pet Insurance
    Best For:
    Unlimited annual benefits
    securely through Figo Pet Insurance's website
  • Lemonade Pet Insurance
    Best For:
    Top-rated pet insurance
    securely through Lemonade Pet Insurance's website

    Lemonade is currently available in the following states: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, District Of Columbia, Georgia, Illinois, Indiana, Iowa, Maryland, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin,

  • Spot Pet Insurance
    Best For:
    Prescription food and supplements
    securely through Spot Pet Insurance's website
  • Pumpkin Pet Insurance
    Best For:
    Families with multiple pets
    securely through Pumpkin Pet Insurance's website

    Limitations apply. For terms and conditions, visit Pumpkin Insurance Services Inc. (NPN#19084749) (“Pumpkin”) is a licensed insurance agency, not an insurer. Insurance plans underwritten by United States Fire Insurance Company. Preventive Essentials is not an insurance policy, and is not available in all states.

Costco Pet Insurance Overall Rating

Costco Pet Insurance — offered through Figo — is a great option for pet parents who also happen to be Costco members. Costco members can get a 15% discount on pet insurance policies purchased through the Costco/Figo partnership. Figo’s pet insurance plans leave plenty of room for customization, allowing you to enroll in a plan with unlimited coverage and 100% reimbursements if you choose. The online quote process makes it easy to review your options so that you can make an informed decision. If you’re thinking about getting pet insurance for your furry loved ones and have a Costco membership, this option is worth considering.

Frequently Asked Questions


Does Costco pet insurance cover pre-existing conditions?


No, neither Costco nor Figo pet insurance cover pre-existing conditions. However, if your pet has a condition that is considered curable, you may be able to receive coverage for that. Otherwise, vet visits for pre-existing conditions are not eligible for reimbursement. 


Can you get pet insurance anytime?


Unlike health insurance for humans, insurers specify no Open Enrollment period for pets, so you can sign up for pet insurance any time. Costco pet insurance does not have upper age limits, so your pet’s age won’t exclude them from coverage. However, it’s best to get pet insurance early so you can get coverage for accidents and illnesses in the future before they are considered pre-existing conditions.

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About Ashley Hart

Ashley Hart is a personal finance writer passionate about helping people feel empowered to take control of their finances. She has more than eight years of writing experience, focused on insurance.