Costco Auto & Home Insurance Review, Types, Features, Discounts, & Other Guide

Costco Auto Insurance: When it comes to home and car insurance, Costco comes out to be one of the best options for many. In order to protect your home or car from any unpredicted circumstances, all you need to have a good insurance policy to cover all your loss by safeguarding your personal belongings. Many find insurance policies an expensive service, but in reality, you are actually saving a lot of money in the long run.

Costco is a division of American Family Insurance that offers great insurance deals to its clients. In addition to that, American Family Insurance helps its customers in providing a wide range of policies that consist of vehicle, property, business, as well as life insurance. It also provides Costco auto and home insurance to its members and has a great history of more than 20 years. Today, we are here to help to out by providing you important details about Costco car and home Insurance which is one of the highly used services in the United States.

About Costco Auto/Car Insurance

Costco Car Insurance is usually accessible through CONNECT, which is a division of American Family Insurance and offers fairly basic policies. The company doesn’t offer too many customization options to its clients and its main goal is to offer reasonably priced coverage for its members. In addition to that, the coverage limits, discounts, as well as payment options can differ from state to state.

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The Costco Insurance Coverage is not accessible in all the states as its agency is not licensed in New York State. As per the Costco report, that drivers can save an average of $615.43 in the initial year they shift to CONNECT by American Family.

Costco Auto Insurance

Types Of Coverage Offered By Costco Auto Insurance

Below here we have listed the types of coverage that has been offered by Costco Auto Insurance:

1) Liability Coverage

The Liability coverage under Costco Auto Insurance consists of Bodily Injury Insurance and Property Damage Insurance.

  • Bodily Injury Insurance: When you injure someone or found to be at fault for injuring someone in a car accident, the company pays for the claims.
  • Property Damage Insurance: This coverage by Costco Auto Insurance covers the loss that your vehicle has caused to any another vehicle or any other property. However, this coverage will not cover the damage caused to your own car.

2) Vehicle Coverage

The Vehicle coverage under Costco Auto Insurance consists of Collision and Comprehensive.

  • Collision: The damage caused to your vehicle by any other vehicle or object is covered by who is at fault.
  • Comprehensive: The damage caused to your vehicle by any natural disasters, break-ins, or animal attacks, something that you have no control over is covered by the company.  

3) Medical Coverage

The Medical Coverage under Costco Auto Insurance consists of Medical Expense Insurance and PIP Insurance.

  • Medical Expense Insurance: Anyone who is occupying a vehicle on your policy is covered in the case of an accident and all the essential medical expenses cost is covered by the company irrespective of who is at fault.
  • Personal Injury Protection Insurance: This coverage by Costco Auto Insurance covers you, or anyone who is living in your household, your passengers, as well as the pedestrians that got injured or killed in a car accident.
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Some additional coverage offered by Costco auto insurance is Accident Travel Expense Coverage, Gap Insurance, New Car Replacement Coverage, Rental car insurance, etc.

Costco Car Insurance Discounts

Costco Car Insurance also offers some discounts that can lower premiums for the clients of Costco Auto Insurance. These discounts consist of:

  • Vehicle Tools & Gear: This includes Automatic Seat Belts, Antilock Brakes, Airbags, Anti-Theft Devices.
  • Client Loyalty: This includes Auto and Home Bundle, Auto and Umbrella Bundle, Multiple Vehicle Discount, Tenure Discount, etc.
  • Driver Education discount: This includes Student Away Discount, Education Discount, Good Student Discount, and Defensive Driver Discount.
  • Driving History: This includes Good Driver Discount, Premier Safety Discount, and Garaging Discount.

Costco Car Insurance: Pro & Cons

Advantages

  • Offers many policy discounts
  • Costco Executive members can get extra benefits
  • You can select your own body shop for repair, maintenance, and upkeep

Downside

  • Your clients have to get car insurance via a third party
  • There are limited hours for customer service

Costco Home Insurance

The wholesaler Costco is very well-known for offering homeowners insurance via its underwriting partner i.e. CONNECT insurance. Formerly, CONNECT was known as Ameriprise, after which it was purchased by American Family Home and gets its new name. With the help of Connect, Costco helps in providing all-inclusive home insurance coverage with wide-ranging endorsements at a very low and reasonable price rate.

Types Of Coverage Offered By Costco Home Insurance

Here is the list of Costco Home Insurance coverage that you must know if you are planning to get the home insurance.

  • Personal Property Insurance: Under this coverage, your personal belongings get replaced or repaired if it gets damaged, lost, or stolen.
  • Medical Payments Insurance: If someone gets injured or you accidentally injured someone on your property, then this coverage helps to cover for expenses.
  • Other Structures Insurance: Under this coverage, the damages to other structures on your property that are typically not connected or attached to your home are covered such as mailbox, garage, etc. It sometimes also covers your personal belongings that were present in your car trunk or a storage unit at the time of happening.
  • Dwelling Insurance: This coverage under Costco Home Insurance covers the cost of the damages that have happened to your home under a covered peril like damages from lightning, fire, etc.
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Some other types of coverage offered by Costco Home Insurance include Earthquake Insurance, Mine Subsidence Insurance Loss-of-Use Insurance, and Personal Liability Insurance.

Costco Auto Insurance

Costco Home Insurance Discounts

Here is the list of discount policy offered by American Family Insurance in Costco Home Insurance:

  • Protective devices discount
  • Costco Affinity discount
  • Claims-Free Discount
  • Home Security Discount
  • Multi-product discount
  • Multiple Policy Discount
  • Tenure Discount
  • Renovation Discount

Costco Home Insurance: Pros & Cons

Advantages

  • Costco Home Insurance offers very low rates
  • Costco members get great discounts and perks offers

Downside

  • There’s no big network of its local insurance agents
  • It does not provide 24/7 customer service by phone

Bottom Lines

Nowadays, there are many insurance providers or companies that offer you different types of services that can attract a lot of customers but not everyone is trustworthy. All these choices confuse a lot of clients regarding what to choose and what’s best for them. However, Costco seems to be one of the good options for you if you are planning to buy a basic car or home insurance coverage. The Costco Home and Car Insurance can be a great choice for the drivers who are looking for good discounts and the homeowners who are looking for modifying their policy with endorsements.

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