Costco Pet Insurance Review

The retailer's members in Canada can save up to 15%

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Costco Pet Insurance

Costco Pet Insurance 

overall rating
4.2

Pets Plus Us has partnered with Costco to offer a cost-effective, basic pet insurance plan for Canadian pet owners who don’t mind having to file paperwork or waiting for reimbursements on their pet’s medical care. However, it is less customizable than other plans, is exclusively for cats and dogs, and is only available in Canada. U.S.-based pet owners or those who have exotic pets will need to look for another option.

  • Pros and Cons
  • Key Takeaways
  • Product Specifications
Pros and Cons
Pros
  • First month free

  • 10% to 15% rate discount for Costco members

  • Flat-rate premiums for animals of all ages

  • Lifetime renewal guarantee

Cons
  • Only available in Canada

  • Limited caps and deductibles

  • No digital filing option

  • Long waiting time

  • Limited wellness benefits

Key Takeaways
  • Offers 10% to 15% off pet insurance for Costco members in Canada  
  • Flat-rate premiums won’t increase as your pet gets older
  • Policy auto-renews for the life of your pet
  • Policies are underwritten by an AM Best A-rated insurance provider
  • Coverage options for accidents, accidents, and illness, and basic wellness
Product Specifications
  • Year Founded 2013
  • Average Cost $100 to $700
  • Types of Policies Available Accident, accident and illness
  • Additional Features 24/7 helplines, pet concierge, and emergency medical coverage
  • Official Website https://www.costco.ca/pets-plus-us.html

Costco’s pet insurance is available to Canadian pet owners and Costco members through Pets Plus Us. The company offers accident insurance that covers 80% of vet bills for medically necessary services resulting from an accident. Customers can also choose accident plus illness insurance, which reimburses 70% to 90% of the cost of medically necessary treatments for illnesses, including hereditary conditions.

Costco also offers a paid add-on wellness plan that covers 100% of the cost of basic preventative care as well as pet hotline phone support and concierge services free of charge.

In this review, we break down Costco’s pet insurance plans, as well as coverage exclusions, additional benefits, pricing, and more to help you decide if they’re right for you.

Company Overview: Discount Pet Insurance for Canadian Costco Members

Pets Plus Us is a Canadian pet insurance company offering coverage for medical services and procedures along with resources for responsible pet ownership, including advice, news, and pet health tips.

It has successfully partnered with Costco to offer its accident, accident and illness, and basic wellness coverage at 10% to 15% off its premiums for Costco members in Canada. This coverage also extends to pets traveling with their owners in the United States.

The company offers flat-rate premiums that don’t increase as your pet ages, raising the deductible at certain age milestones instead. Policies also automatically renew every year for the lifetime of your pet, so there’s no need to requalify.

Pets Plus Us policies are underwritten by the Northbridge General Insurance Corporation, which has an A rating from AM Best, and online reviews cite the company’s quick response, easy filing process, and fixed premium pricing as some of the plan’s best features.

Complaints typically involve confusion about exclusions, but Pets Plus Us tries to directly address the customer concerns in the comments.

Important

Costco’s Candian members get 10% to 15% off Pets Plus Us rates for accident and illness coverage from any veterinary practice in Canada.

Policies Available: Accident, Illness, and Flex Spending

Costco offers both accident insurance and accident plus illness insurance through Pets Plus Us. You can also add a flexible spending account that you can use to pay for preventative care services like vaccines and flea and tick control.

Both Costco’s accident and accident plus illness insurance come with $1,000 in additional benefits, per incident, for each of the following:

  • Pet boarding if you are hospitalized due to an accident and can’t care for him or her
  • Holiday trip cancellation if your pet has a medical emergency
  • Lost pet advertising and reward
  • Cremation or burial (plus a $50 donation to a pet charity selected by Pets Plus Us)

If you want Costco’s accident plan, you’ll receive $5,000 in coverage per year for medical services deemed necessary to treat injuries resulting from accidents. After you pay your deductible and monthly premium, Costco will pay 80% of veterinary fees, including tax.

If you prefer accident and illness coverage, Costco’s accident and illness insurance cover medical services deemed necessary to treat injuries from accidents as well as treatments for illnesses. You can choose from either $7,500 or $15,000 in coverage per year, along with how much you want the insurance to contribute toward your bill (70%, 80%, or 90% of the bill).

  Accident Insurance Accident and Illness Insurance
Consultations
Exams
Emergency Care
Hospitalizations
Drugs
Surgery
Anesthesia
Specialist referred by a licensed veterinarian
Illness  
Diagnostics  
Hereditary conditions  
Diagnostics  
Prescription medication  
Alternative therapies  
Behavioral therapies  

Flex Care

In addition to the accident and accident plus illness, Costco offers a Flex Care coverage plan that works like a flexible spending account (FSA). You decide upfront how much money you want to set aside per year, from $250 to $1,250, in increments of $100. Your monthly payment will be the amount you chose divided into 12 equal payments. For example, if you choose to put $1,000 into your Flex Care account, your monthly payment would be $83.33.

There is also an annual $25 enrollment fee for the plan, and unused funds cannot be carried over into the next year and are not refundable.

Your Flex Care benefits can be used for the following medical services:

  • Three wellness/vaccination exams per year for puppies and kittens
  • One wellness/vaccination exam per year for adult dogs and cats
  • Six-month exam for senior dogs and cats
  • Deworming
  • Fecal exams
  • Spaying/neutering
  • Flea prevention
  • Microchipping
  • Urinalysis
  • Dental care
  • Nail trimming

Other Add-ons: Hotlines & Subscriptions

All Costco pet insurance plans include Pets Plus Us Blue Ribbon Benefits free of charge. The service provides 24/7 nurse and poison helplines, compassionate care phone support for pet owners dealing with serious pet health issues or bereavement, and, if your pet gets lost, $1,000 in pet insurance coverage should your pet suffer a life-threatening injury while missing.

Blue Ribbon Benefits also offers a pet concierge who can help you find pet-related services, products, or business and a subscription to either Modern Dog or Modern Cat magazine.

Plan Exclusions: No Coverage for Preexisting Conditions

Like most pet insurance, Costco doesn’t cover preexisting conditions but will cover some hereditary conditions under its accident plus illness plan. The company performs an extensive review of your pet’s medical records during underwriting, so you’ll know exactly what is and isn’t covered with your plan.

Costco’s pet insurance also requires a 48-hour waiting period for accidents and a 14-day waiting period for illnesses before offering coverage.

Finally, although Costco only offers coverage in Canada, it will cover the cost of care from a licensed veterinarian in the U.S. should something happen while you are traveling.

Cost: Flat-Rate Premiums Plus Discounts for Costco Members

Costco’s Pets Plus Us plans offer flat-rate premiums that won’t increase as your pet ages. Only the deductibles will increase based on set age milestones. Costco Gold Star and Business members receive an additional 10% off the premiums below, and Executive members receive 15% off.

The first-month premium is free for all Costco members.

Accident Insurance Pricing

Costco’s accident insurance plan offers $5,000 in coverage per year with an annual $100 deductible. Premiums are fixed regardless of the age of your pet.

Accident Insurance Premiums
Pet Premium
Dog (any age) $22.06 per month
Cat (any age) $19.73 per month

Accident Plus Illness Insurance Pricing

You can choose from either $7,500 or $15,000 in accident and illness coverage per year as well as how much reimbursement you want for medical expenses.

Accident Plus Illness Premiums
Pet $7,500 Coverage $15,000 Coverage
Dog (any age) $67.53 per month $119.61 per month
Cat (any age) $40.53 per month $75.20 per month

This plan also comes with deductibles, which vary based on your pet’s age and the reimbursement rate you select. The younger your pet and the less you want the insurance to contribute toward your bill, the lower your deductible. For example, the deductible on a 5-month-old kitten with a 70% reimbursement rate will be $100, whereas you’ll pay $700 per month for an 11-year-old Golden Retriever at a 90% reimbursement rate.

Tip

Costco will never raise your premium as your pet ages, only your deductible.

Customer Service: Phone and Email With 24/7 Pet Hotlines

Costco’s Pets Plus Us offers email and phone customer support and claim filing Monday through Thursday from 8 a.m. to 9 p.m. EST and Friday from 8 a.m. to 7 p.m. EST. Claims can also be submitted via fax. You can also log into your member portal anytime to make a claim or review the status of existing claims.

It’s important to note that Costco’s Blue Ribbon Benefits offered with both its accident and accident and illness insurance also gives you access to 24/7 hotlines for a variety of pet health, emergency, and support issues.

Competition: Costco Pet Insurance vs. Petplan

We compared Costco’s Pets Plus Us insurance plans to Petplan, which offers similar accident and illness coverage. When comparing the same coverage side-by-side, we found that Costco was priced 20% higher (before Costco member discounts).

Petplan also offers deductibles and annual limits on a sliding scale, allowing customers to customize their insurance. By contrast, Costco offers set tiered limits and deductibles. Petplan’s pricing flexibility along with its availability in both Canada and the U.S. makes us consider it a better option than Costco.

  Costco (Pets Plus Us) Petplan
Animals Covered Dogs and cats Dogs and cats
Example Cost $92.87 to insure a 2-year-old dog with $15,000 annual coverage, 80% reimbursement, and a $300 deductible $75.81 to insure a 2-year-old dog with $15,000 annual coverage, 80% reimbursement, and a $300 deductible
Coverage Type Accident and illness Accident and illness
Waiting Period Accidents: 48 hours
Illnesses: 14 days
Accidents: 15 days
Illnesses: 15 days
Network Size Unlimited (Canada) Unlimited (U.S.and Canada)
Final Verdict: Tiered Accident and Illness Coverage in Canada Only

Costco’s Pets Plus Us pet insurance is a decent choice if you’re a Costco member in Canada due to the discounts you’ll receive on premiums, complimentary concierge support, and 24/7 hotlines. However, because it’s priced higher than its competitors and doesn’t allow you to customize your insurance, you may want to shop around to find the rates and coverage you want.