Costco Pet Insurance Review 2026: Is the Member Discount Worth It?

Enroll through Costco.com to apply the member discount — you'll need an active Costco membership number at checkout.

Quick Overview

Costco has offered members access to pet insurance since August 2021, through a partnership with Figo Pet Insurance. It's the same pattern this site has already documented with GEICO (administered by Embrace) and State Farm (administered by Trupanion): a well-known consumer brand licenses its name and member base to an existing insurer rather than underwriting its own policy. In Costco's case, the underlying insurer is Figo, and the "Costco" part of the product is entirely a discount-and-distribution arrangement, not a different coverage design.

The real difference from the GEICO/Allstate pattern is that Costco's discount is genuinely stackable and sizable: 15% off for Gold Star, Business and Executive members, plus Figo's standard 5% multi-pet discount, plus (where available) a 5% military discount. Executive members also get their first month's premium and the $15 enrollment fee waived. None of that changes what the policy covers — it changes what you pay for it.

Coverage Details

Because this is a standard Figo policy, coverage matches what we documented in our own Figo Pet Insurance review:

What's Covered

• Accidents: Broken bones, bite wounds, lacerations, foreign-object ingestion, poisoning
• Illnesses: Cancer, diabetes, infections, allergies, digestive and urinary conditions
• Hereditary & congenital conditions: Hip dysplasia, heart conditions, eye disorders (after waiting periods)
• Emergency & specialty care: ER visits, hospitalization, oncology, cardiology, surgery
• Diagnostics: X-rays, MRI/CT, ultrasounds, bloodwork

What's Not Covered (or costs extra)

• Pre-existing conditions
• Vet-exam fees — a paid add-on, same as with direct Figo
• Wellness/preventive care — a paid add-on
• Prescription food and alternative-care add-ons
• No accident-only plan option through this channel

The Costco Member Discount, Explained

Stack the member and multi-pet discounts and a household with two pets could see roughly 20% off Figo's standard premium before any military discount — a meaningfully larger, better-documented discount than GEICO's unquantified "existing customer" discount or State Farm's non-existent bundle discount, both of which we flagged as weak points in our reviews of those programs.

Pricing

NAPHIA's 2024 State of the Industry report puts the average accident-and-illness premium at $62.44/month for dogs and $32.21/month for cats. Forbes Advisor's 2026 analysis found Costco's discounted Figo pricing runs roughly 11% below the industry average once the member discount is applied.

Illustrative sample premiums before the Costco discount: roughly $75–$79/month for a mixed-breed dog and $25–$40/month for a mixed-breed cat at the 80–90% tiers, per third-party rate samples. Apply the 15% member discount (and 5% multi-pet, if applicable) to estimate your real cost, then confirm with a live quote — premiums vary by breed, age and ZIP code.

A Costco membership itself is worth budgeting for if pet insurance is the only reason you're considering one — a two-day airtight pet food storage container from Amazon is a much smaller commitment if you just want to store a Costco-size bag of kibble properly, membership or not.

Claims Reputation: The Honest Downside

This is the part a purely discount-focused pitch would skip. Figo's own claims-satisfaction reputation is weak: ConsumerAffairs shows a 1.5-star average as of 2026, with recurring complaints about denials citing pre-existing conditions, slow processing and heavy paperwork requirements on small claims. That reputation doesn't improve or worsen because you signed up through Costco — it's the same claims department, the same policy, the same underwriters, regardless of which discount you applied at checkout.

We'd rather flag this plainly than let the discount headline carry the review: a 15–20% discount on a policy with below-average claims satisfaction is still a policy with below-average claims satisfaction. Compare it against Trupanion or Healthy Paws, both of which score meaningfully better on claims-handling reviews, before deciding the discount alone makes Costco the right channel.

Pros and Cons

Costco vs. Buying Figo Direct

If you're already a Costco member, enrolling through Costco.com is a clear win — you get an identical policy for less. If you're not a member, buying a Costco membership solely to save 15% on pet insurance rarely pencils out once you weigh the annual membership fee against the discount on a modest monthly premium; go straight to Figo direct instead.

Who Should Choose Costco Pet Insurance?

Good fit for:

• Existing Costco Gold Star, Business or Executive members who already pay the membership fee for shopping
• Multi-pet households who can stack the 15% member and 5% multi-pet discounts
• Military members outside FL/NY/TN/WA who can add the 5% military discount
• Anyone who already likes Figo's coverage and just wants it cheaper

Consider alternatives if:

• You're not a Costco member and don't plan to become one
• Claims-handling reliability matters more to you than price — see Trupanion or Healthy Paws
• You want exam fees or wellness care included by default rather than as paid add-ons

Frequently Asked Questions

Does Costco actually sell its own pet insurance?

No. Costco does not underwrite or administer a pet insurance product of its own. Costco Pet Insurance is a standard Figo Pet Insurance accident-and-illness policy, sold through a partnership active since August 2021, with a membership-based discount applied at checkout.

How big is the Costco member discount on pet insurance?

Costco Gold Star, Business and Executive members get a 15% discount off Figo's standard premium. That stacks with Figo's own 5% multi-pet discount, and a 5% military discount is available outside of Florida, New York, Tennessee and Washington. Executive members also get their first month's premium and the $15 enrollment fee waived.

Who underwrites Costco Pet Insurance?

The same underwriters as any other Figo policy: Independence American Insurance Company and Markel American Insurance Company. Coverage terms, waiting periods and claims process are identical to buying a Figo policy directly.

Is Costco Pet Insurance a good value?

For an existing Costco Gold Star, Business or Executive member, yes — the discounts are real and can bring premiums to roughly 11% below the industry average, according to Forbes Advisor. Figo's claims-satisfaction reputation (a 1.5-star ConsumerAffairs average as of 2026) is worth weighing before enrolling.

Do I need my Costco membership number to sign up?

Yes. You enter your active Costco membership number during enrollment to unlock the member discount. Without an active membership, you would simply buy the same policy directly from Figo at its standard, non-discounted rate.

Compare more providers: See our Figo Pet Insurance review for the un-discounted version of this same policy, our GEICO review and Allstate review for two other brand-resold Embrace policies, our State Farm review for a Trupanion-backed alternative, or our Sam's Club Pet Insurance review for a similar warehouse-club discount routed to Spot instead of Figo. For a retailer-channel policy with no single underwriter at all, our Chewy Pet Insurance review covers CarePlus, which splits between Trupanion and Lemonade depending on the pet. Prefer no paid membership at all? Our Walmart Pet Insurance review covers a Nationwide policy sold with no membership fee, though without a confirmed discount to match Costco's flat 15%.

Bottom Line

Costco Pet Insurance earns a solid 4.1/5: it's an honest, well-documented discount on a real policy rather than a marketing gimmick, and the stackable 15% member + 5% multi-pet + 5% military discounts genuinely beat every other "brand resells someone else's pet policy" arrangement we've reviewed on this site. The catch is that it doesn't change the underlying coverage or Figo's below-average claims-satisfaction reputation — you're paying less for the same experience, good and bad.

Our Verdict: If you're already a Costco member, this is close to a free upgrade on Figo's pricing. If you're not, don't join Costco just for this.