Costco Travel Insurance Review and Pricing (2024)
The worldwide budget travel provider Costco Travel partners with the Zurich Insurance Group to offer budget travel insurance to its members. Costco Travel offers lower-cost insurance policies to protect nonrefundable trip costs, plus exclusive vacation offers. Costco members can purchase a travel insurance policy and access lower rates on their vacation if they book using Costco Travel.
While Costco only offers one policy option for international travel, this plan includes competitive travel and baggage benefits. After extensive industry research, the MarketWatch Guides team awarded Costco Travel Insurance 4.3 out of 5 stars. We especially recommend Costco to older adult travelers looking for lower-cost coverage.
Our Thoughts on Costco Travel Insurance
Travel package shoppers who buy an insurance plan through Costco are eligible for a discounted policy issued and backed through the company’s partner, Zurich. While it only offers one plan choice for all international travelers, policy details are competitive with other industry providers we’ve reviewed.
Most travelers can access the International Travel Protection Plan, which extends coverage for travel expenses and medical emergency situations. It includes benefits for accidental death and dismemberment (AD&D), financial insolvency of the carrier and missed connections, which goes into effect after just a few hours. Pricing is set before asking for the traveler’s age — a benefit if you’re over 50 years old and worry your age may influence costs.
There are a few drawbacks to consider before selecting Costco as your travel insurance provider. First, you’ll only have one policy choice — leaving no flexibility to adjust costs by reducing coverages. To take advantage of the best pricing, you have to insure a Costco vacation offer, the cost of which can run upwards of $2,000 per traveler and requires a membership to purchase. Costco’s cancel for any reason (CFAR) benefits are also less comprehensive than competitors, with only up to 50% reimbursements compared to 70% or 80%.
Pros and Cons
Pros
- Offers an affordable insurance option, with lower pricing than the national average
- Policies include several benefits, ranging from airfare reimbursement to non-emergency medical evacuation
- Features advantageous pricing for older travelers
- Missed connections benefits go into effect after just three hours
- Has a highly rated underwriter with an A+ score from the financial credit rating agency AM Best
Cons
- Premium pricing is only available for Costco members who buy one of the company’s travel packages
- Only offers one travel package for international trips
- Limits its CFAR upgrade to a 50% reimbursement, lower than competitors offering 70% or more
How Costco Travel Insurance Scored in Our Methodology
Overall, our team gave Costco’s travel insurance plans a score of 4.3 out of 5 stars. While members may only qualify for low-price protection if they book their trip through Costco Travel, eligible customers can access travel insurance with high coverage caps at competitive prices.
Compare Costco Travel Insurance to the Competition
Comparing Costco’s travel insurance options to other companies can help you determine the best rate for the coverage you need. However, if you don’t have a Costco membership, you will have to find another provider to work with. Explore a few of our team’s top picks for travel insurance using the table below.
| Company | Average Plan Cost | CFAR Coverage | COVID-19 Coverage | BBB Rating | Visit Site |
|---|---|---|---|---|---|
| $219 | N/A | N/A | N/A | ||
| $298 | Yes, up to 75% | Yes | Not Rated |
|
|
| $242 | Yes, up to 75% | Yes | A+ |
|
|
| $182 | Yes, up to 75% | Yes, limited | A+ |
|
|
| $228 | Yes, up to 60% | Yes | A+ |
|
|
| $273 | Yes, up to 75% | Yes, limited | A+ |
|
|
| $208 | Yes, up to 75% | Yes | B |
|
|
| $266 | Yes, up to 75% | Yes, limited | C- |
|
|
| $72 | Yes, up to 75% | Yes, limited | A- |
|
|
| $206 | Yes, up to 75% | Yes | A+ |
|
|
| $241 | Yes, up to 50% | Yes, limited | A+ |
|
| Company | BBB Rating | Average Plan Cost | CFAR Coverage | COVID-19 Coverage | Visit Site |
|---|---|---|---|---|---|
| N/A | $219 | N/A | N/A | ||
| Not Rated | $298 | Yes, up to 75% | Yes |
|
|
| A+ | $242 | Yes, up to 75% | Yes |
|
|
| A+ | $182 | Yes, up to 75% | Yes, limited |
|
|
| A+ | $228 | Yes, up to 60% | Yes |
|
|
| A+ | $273 | Yes, up to 75% | Yes, limited |
|
|
| B | $208 | Yes, up to 75% | Yes |
|
|
| C- | $266 | Yes, up to 75% | Yes, limited |
|
|
| A- | $72 | Yes, up to 75% | Yes, limited |
|
|
| A+ | $206 | Yes, up to 75% | Yes |
|
|
| A+ | $241 | Yes, up to 50% | Yes, limited |
|
No results were found.
Costco vs. Nationwide
If you aren’t a Costco member but are looking for similar protections as those offered by the International Travel Protection Plan, consider Nationwide. Like Costco, Nationwide’s Single-Trip Prime plan includes benefits for baggage, medical considerations, emergency evacuations and baggage issues you might run into with an airfare provider. Plus, anyone can buy a plan, whether or not they have other Nationwide insurance products.
Nationwide can also offer a stronger choice for customers looking for more protection against travel interruptions. While Costco’s policy caps interruption benefits at 150%, Nationwide will reimburse up to 200% of eligible trip expenses. This insurance company also offers more generous CFAR reimbursements of up to 75% of travel expenses — 25% more than the available upgrade from Costco.
| Costco International Travel Protection Plan | Nationwide Single-Trip Prime Plan | |
|---|---|---|
| Average cost | $219 | $206 |
| Trip cancellation | 100% of non-refundable trip costs | 100% of non-refundable trip costs |
| Trip interruption | 150% of non-refundable trip costs | 200% of non-refundable trip costs |
| Medical expense | $200,000 | $150,000 |
| Emergency evacuation and repatriation of remains | $1 million | $1 million |
| Lost baggage | $3,000 | $2,000 ($250 per item) |
| Trip delay | $500 per day ($2,000 maximum) | $250 per day ($2,000 maximum) |
| Baggage delay | $200 | $600 |
Read our team’s complete review of Nationwide travel insurance to learn more.
Costco Travel Insurance vs. Tin Leg
Customers looking for additional coverage options and more affordable prices compared to Costco may consider Tin Leg Travel Insurance. While Costco only offers one international plan, Tin Leg provides seven policy options, with multiple coverage tiers allowing you to more easily personalize coverage. Its prices are also more affordable than Costco on average and you don’t need a membership to enroll.
| Costco International Travel Protection Plan | Tin Leg Gold Plan | |
|---|---|---|
| Average cost | $219 | $137 |
| Trip cancellation | 100% of non-refundable trip costs | 100% of non-refundable trip costs |
| Trip interruption | 150% of non-refundable trip costs | 150% of non-refundable trip costs |
| Medical expense | $200,000 | $500,000 |
| Emergency evacuation and repatriation of remains | $1 million | $500,000 for emergency medical and $500,000 for evacuations |
| Lost baggage | $3,000 | $500 per person |
| Trip delay | $500 per day ($2,000 maximum) | $150 per day ($2,000 maximum) |
| Baggage delay | $200 | $200 per person |
Read our complete review of Tin Leg Travel Insurance to learn more.
What Does Costco Travel Insurance Cover?
Costco travel insurance is not issued through the same retailer that maintains and provides Costco wholesale club locations. While Costco Travel sells travel insurance policies at an advantageous rate, the international insurance company Zurich Insurance Group services the plans. Zurich offers international travelers one policy option, which includes both medical and travel benefits.
Zurich offers one specialized travel insurance plan to Costco members who book their vacation through Costco Travel.
- International Travel Protection Plan: The only international coverage option issued for non-domestic travelers through Costco Travel. The plan offers standard trip insurance and more generous baggage benefits than many competitors. It also includes benefits for AD&D, service provider bankruptcy and emergency medical expenses.
You do not need to have a Costco membership to buy travel insurance through Zurich. However, standardized pricing only applies to Costco executive members who book their trip through the company’s travel branch and have a Costco Travel booking number. If you buy directly through Zurich to protect a trip other than a Costco vacation, different rates will apply.
The table below summarizes coverages found in the International Protection Plan.
MarketWatch Guides Tip
Costco’s partnership with Zurich offers customers only one plan option. While our team found coverage pricing to be competitive with other service providers, you may prefer to compare pricing between providers with multiple plan options if you’re shopping on a budget.
| Coverage | International Travel Protection Plan |
|---|---|
| AD&D benefits | $100,000 |
| Baggage and personal effects | $3,000 ($500 per item) |
| Baggage delay (12 hours) | $200 |
| Credit card charges and interest | Covered under baggage loss benefits |
| Dental coverage | $1,000 (also covers emergency expenses) |
| Emergency accident and sickness medical expense | $200,000 |
| Emergency medical evacuation | $1 million |
| Special items (such as jewelry and electronics) | $500 (covered under baggage loss benefits) |
| Medical evacuation and repatriation of remains | $1 million (covered under evacuation benefits) |
| Missed flight connection | $2,000 |
| Missed tour or cruise connection | $2,000 |
| Passport or visa replacement | $2,000 (covered under trip delay benefits) |
| Pre-existing medical conditions waiver | Available within 21 days of your initial trip payment |
| Transportation of children | $1 million (covered under evacuation benefits) |
| Trip cancellation | Up to 100% |
| Trip interruption | Up to 150% |
Costco Optional Add-On Coverage
Costco travel insurance policies, administered by Zurich, also offer the following add-on options:
- CFAR coverage: Covers up to 50% of your total travel expenses if you cancel your trip for any reason, as long as you purchased insurance within 21 days of your initial trip payment. You must also be within 60 days of international travel to qualify for this coverage.
- Pre-existing conditions waiver: This coverage extends your plan’s medical expense benefits to include conditions you showed symptoms of before planning your trip. You must be within 21 days of your initial trip payment to qualify.
- Rental car coverage: Adds $50,000 worth of collision coverage to rental cars you use abroad. This add-on is not available in Ireland, Mexico, Jamaica and Costa Rica.
How Much Does Costco Travel Insurance Cost?
The International Travel Protection Plan is the only coverage option available at a discounted rate with a Costco travel offer. In our review, we found the average price of a travel insurance coverage plan through Costco is $219. This is around the same cost of an average travel insurance policy ($221) our team found in our review of dozens of providers.
The specific cost of your travel insurance policy will vary primarily depending on your trip value, number of travelers in your group and date of your initial trip payment. The table below summarizes sample pricing our team found when we requested pricing for sample trips with Costco.
| Sample Traveler | Trip Details | Trip Cost | International Travel Protection Plan Cost |
|---|---|---|---|
| 35-year-old couple | 7-day trip to Mexico | $5,000 | $250 |
| Family of 4 | 7-day trip to Mexico | $8,000 | $400 |
| 65-year-old couple | 7-day trip to London | $7,000 | $350 |
| 30-year-old couple | 3-day trip to London | $7,000 | $350 |
| 19-year-old college student | 7-day trip to France | $2,000 | $100 |
| 27-year-old solo traveler | 7-day trip to Greece | $1,800 | $100 |
| 51-year-old solo traveler | 7-day trip to Spain | $2,000 | $100 |
Note: We collected the above quotes in 2024 directly through the policy provider’s website for sample travelers living in Alabama.
Does Costco Travel Insurance Offer 24/7 Travel Assistance?
Yes, Costco travel insurance policies include access to its 24/7 travel assistance line, which can provide concierge services and assistance when booking emergency services. Some common uses of this coverage include replacing prescriptions, arranging emergency evacuation services, and connecting with local medical and evacuation service providers on your behalf.
How To Buy a Travel Policy From Costco
To purchase a travel insurance policy through Costco, start by visiting Costco Travel’s website and entering your trip details. You’ll need to have your trip itinerary, travel dates and budget per traveler available to claim a quote. Notably, when you purchase travel insurance through Costco, you don’t need to input your age — a potential benefit for older travelers.
After entering your trip information, you get redirected to Costco’s partner company, Zurich Insurance Group, the servicing company offering international travel insurance plans. In most instances, you’ll have access to only one plan, no matter if you’re traveling internationally or domestically. For international travelers, the International Travel Protection plan is the only offering. You can explore specific coverages and view a sample contract directly before purchase, making it easy to compare additional plans.
After exploring a sample contract, you can finalize your purchase through Zurich. You’ll need to have your Costco policy travel number handy when finalizing your policy pricing — so you can’t lock in coverage until you’ve settled on a travel offer. Overall, our team found the process of buying a travel insurance policy easy and straightforward, especially if you already have a Costco vacation planned.
Costco Travel Insurance Customer Reviews
Customer reviews are an important consideration when selecting any travel insurance policy. Our team looked at what previous policyholders had to say about their travel insurance experience with Costco and identified common likes and dislikes. Since Costco offers travel insurance through a partnership with Zurich, we referenced Zurich’s BBB and Trustpilot profiles for insights.
What Customers Like
- Helpful customer service agents: Most positive reviews of Zurich’s insurance products relate to its customer service representatives, whom policyholders said were eager and able to help.
- Comprehensive cruise benefits: Multiple customers praised the company’s cruise line assistance and claims process, which customers say was easy to use in accident-related cancellations.
- Prompt payments: Another common compliment among BBB customers is quick reimbursements — a benefit after an expensive cancellation or trip interruption.
What Customers Don’t Like
- Long hold times: Multiple BBB customers expressed frustration with waiting times when connecting with customer service, with some travelers being left on hold for more than 20 minutes. Customers who submitted messages via email also faced long wait times.
- Denied claims: From airport cancellations to rental car insurance claims, multiple customers reported that their claim was denied by Zurich.
- Poor claims settlements: For customers who were able to submit a successful claim, payouts were often less than expected. This made some travelers question the value of their coverage.
We reached out to Costco for comment on its lower ratings and negative customer reviews in relation to its partnership with Zurich but did not receive a response.
How To File a Travel Insurance Claim With Costco
Costco travel insurance, administered through Zurich, offers two methods customers can use to file a travel insurance claim. We’ve summarized each method below.
- Phone: To begin a claim by phone, call 844-799-0331 if you’re located in the U.S. or Canada. Call 416-945-9802 if you’re abroad when you need to file.
- Online filing: Zurich also allows you to file a claim online. For a speedier process, have details of your claim handy when you file.
According to customers who have filed a claim with Costco’s travel partner, Zurich, it is sometimes difficult to get claims approved. Multiple customer reviews indicate denied travel insurance claims or being asked for multiple rounds of documentation for expenses. Of customers who had a claim approved, some reported getting only a small percentage of eligible expenses reimbursed.
Is Costco Travel Insurance Worth It?
Costco’s option for travel insurance is comprehensive and affordable, offering more convenient benefits for members. For example, in addition to its standard trip cancellation and interruption benefits, Costco’s partner Zurich allows you to begin using benefits such as baggage delay and missed connections funds in as little as three hours. Policies are also convenient, providing an all-in-one choice for medical, flight, baggage and evacuation benefits.
There are a few notable drawbacks to consider before investing in a Costco travel insurance plan. While anyone can purchase insurance through Zurich, only Costco members can access its travel benefits and discounted pricing. Costco also limits its plan offerings to a single coverage choice, which may not benefit travelers looking for more coverage variety. Still, for the benefits provided, Costco offers an affordable and inclusive choice for travel insurance for its members.
Frequently Asked Questions About Costco Travel Insurance
In our review, we found a week-long trip insured by Costco will cost $219. This is around the average when compared to other travel insurance company options.
Travel insurance policies, administered by Zurich Insurance Group, are available after purchasing one of Costco’s vacation packages and receiving a traveler number. While you can buy a plan directly through Zurich, you may not have access to Costco’s lower rates unless you hold a membership.
No, Costco’s international travel insurance is only available to American residents traveling outside of the country.
Zurich Insurance Group issues Costco’s travel insurance policies, which holds an A+ rating from AM Best for financial stability.
Methodology: Our System for Rating Travel Insurance Companies
link
