Costco Travel Insurance: Everything You Need to Know

When planning a trip, it’s essential to have travel insurance to protect yourself from unforeseen emergencies. Costco, the well-known membership warehouse club, offers its own travel insurance policy. In this article, we’ll provide an in-depth review of Costco travel insurance, including coverage options, pricing, and customer reviews.

What is Costco Travel Insurance?

Costco Travel Insurance is a product provided by AIG Travel Guard. It offers coverage for trip cancellation and interruption, medical expenses, emergency evacuation, baggage protection, and 24-hour travel assistance. This policy is available to both Costco members and non-members, although the pricing may vary.

The coverage is available for trips within the United States and abroad, but there are different plans to choose from depending on your destination, length of travel and the type of coverage you need. Let’s take a closer look at the coverage options that Costco travel insurance offers.

Costco Travel Insurance Coverage Options

Costco Travel Insurance offers three main coverage plans: Basic, Preferred, and Deluxe. The following outlines the coverage provided by each plan:

It is worth noting that coverage maximums can vary depending on the state you live in and the type of trip you are planning. Additionally, a specialized cruise plan is available for those going on a cruise vacation, which includes coverage specific to cruise-related issues, such as missed ports and itinerary changes.

What is Covered under the Basic Plan?

The Basic Plan provides essential coverage for the most common travel emergencies. Here is an overview of the coverage offered under the Basic Plan:

• Trip Cancellation: If you need to cancel your trip due to unforeseen events such as illness, injury or death, the Basic Plan will reimburse you up to $10,000 per person.
• Trip Interruption: If you need to end your trip early due to unforeseen events, the Basic Plan will reimburse you up to $10,000 per person. This includes expenses such as airfare, lodging, and transportation.
• Emergency Medical Expenses: If you become sick or injured while traveling, the Basic Plan will cover up to $10,000 in medical expenses per person.
• Emergency Evacuation and Repatriation: If you need to be medically evacuated or transported back home due to a medical emergency, the Basic Plan will cover up to $50,000 per person.
• 24-Hour Travel Assistance: The Basic Plan provides 24-hour travel assistance services, including medical and travel assistance, legal services, and emergency message relay.

What is Covered under the Preferred and Deluxe Plans?

The Preferred Plan and Deluxe Plans offer more extensive coverage than the Basic Plan. In addition to the coverage provided by the Basic Plan, here’s what is covered under the Preferred and Deluxe Plans:

• Higher Trip Cancellation and Interruption Coverage: The Preferred Plan provides trip cancellation and interruption coverage up to $20,000 per person, while the Deluxe Plan offers coverage up to $50,000 per person.
• Higher Emergency Medical Expenses Coverage: The Preferred Plan provides up to $25,000 per person for emergency medical expenses, while the Deluxe Plan offers up to $100,000 per person.
• Baggage Protection: The Preferred and Deluxe Plans offer baggage protection, providing reimbursement for lost or stolen luggage, up to $1,000 and $2,500 per person respectively.
• Higher Emergency Evacuation and Repatriation Coverage: The Preferred Plan offers coverage up to $500,000 per person, while the Deluxe Plan provides coverage up to $1,000,000 per person.

How Much Does Costco Travel Insurance Cost?

The cost of Costco travel insurance varies depending on the plan you choose, your age, the length of your trip, and your destination. Generally, the cost of a Basic Plan starts from $20 per person, while the Preferred Plan starts from $35 per person and the Deluxe Plan starts from $55 per person.

It’s important to note that the cost of the policy is non-refundable, so make sure you carefully review all the details before making a purchase. Also, Costco members may receive a discounted rate on travel insurance coverage.

How to Purchase Costco Travel Insurance

Purchasing Costco Travel Insurance is straightforward. You can buy the policy directly from the Costco Travel website or call their customer service line at 1-866-547-5362 to speak with a representative.

When purchasing online, you’ll need to fill out your personal information, trip details, and payment information. Once your payment is processed, you’ll receive your policy documents via email.

Customer Reviews of Costco Travel Insurance

Costco Travel Insurance has generally positive reviews from customers who have used the service. Many reviewers praise the company’s competitive pricing, excellent coverage, and friendly customer service.

However, there are some negative reviews, with some customers complaining about the policy’s difficult claim process, especially for medical claims. It’s important to read the policy terms and conditions carefully to ensure that you fully understand the coverage limits and claim procedures.

Costco Travel Insurance FAQ

Is Costco Travel Insurance worth it?

Costco Travel Insurance can be a worthwhile investment, depending on the type of trip you’re taking and the coverage you need. It provides good coverage at a competitive price, making it an attractive option for budget-conscious travelers.

Does Costco Travel Insurance cover COVID-19?

The Basic Plan does not cover COVID-19 related expenses, while the Preferred and Deluxe Plans offer some limited coverage. However, coverage is subject to the terms and conditions of the policy, so it’s essential to read the fine print carefully before purchasing.

Can non-members purchase Costco Travel Insurance?

Yes, non-members can purchase Costco Travel Insurance, although the pricing may vary.

What is the claim process for Costco Travel Insurance?

If you need to file a claim, you’ll need to contact AIG Travel Guard directly. You can file a claim online, by phone, or by mail. Make sure you have all the necessary documentation, including receipts and medical records, to support your claim.

How do I cancel my Costco Travel Insurance?

To cancel your Costco Travel Insurance policy, you’ll need to contact AIG Travel Guard directly. However, it’s important to note that the policy is non-refundable, and cancellation fees may apply.

Conclusion

Costco Travel Insurance is an excellent option for those looking for affordable and comprehensive travel insurance. With three different coverage options, there’s a plan for every type of traveler. Just remember to read the policy terms and conditions carefully to ensure that you understand the coverage limits and claim procedures.