Deciding on car insurance can be an overwhelming process with many options to weigh regarding coverage, providers, and budget. When considering cost as a key factor, Costco’s auto insurance tends to be more budget-friendly due to member-exclusive pricing and bundling options. Keep reading to learn all about Costco car insurance costs, what’s included, how its pricing compares, and what steps to take if you’re interested in securing affordable coverage through the warehouse club.
Costco offers competitive pricing on top-rated auto insurance to its members in collaboration with Ameriprise Auto & Home Insurance. Policies are powered by Ameriprise but available at special Costco member rates not accessible to non-members. This exclusive pricing is a major perk of exploring Costco’s car insurance offerings if you want to save money without sacrificing customer service or coverage options. Costco’s provider Ameriprise operates nationally and is known for strong financial backing as well as high customer satisfaction ratings, meaning you can expect quality service and support if issues arise.
What Does Costco Car Insurance Include?
As with most leading insurers, Costco allows you to customize your auto policy based on your budget, lifestyle factors, and desired protection. Core offerings include:
- Liability coverage: Bodily injury and property damage liability insurance is required in nearly every state. Costco provides options to enhance limits beyond state minimums for more protection.
- Collision: Covers repair or replacement costs if you collide with an object like another car or stationary roadside fixture.
- Comprehensive: Protects against non-crash damage including theft, vandalism, fire, falling objects, floods, and collisions with animals.
- Uninsured/Underinsured coverage: Provides compensation if an at-fault driver damages your vehicle but lacks sufficient insurance.
- Medical payments: Covers medical treatment expenses stemming from an accident for vehicle occupants.
- Additional options: Roadside assistance, rental reimbursement, rideshare coverage, accident forgiveness, and more.
How Much Does Costco Car Insurance Cost on Average?
Costco does not publicly provide average rates or quotes online. As a membership warehouse club, they offer exclusive member pricing only accessible by requesting a quote directly. Rates vary based not only on factors like age, driving history, and vehicle type but also on regional risk profiles. However, industry data shows Costco auto insurance to frequently offer among the lowest prices compared to large national competitors when all discounts are factored in.
Actual customer surveys and quotes back up these affordable rates as well. Costco pricing tends to provide the most savings for high-risk categories like teen drivers and drivers with previous incidents. Bundling home or life insurance also leads to lowered pricing. But all members can likely save over 20% compared to leading insurers.
For example: average national quotes show comparable providers charging over $150 monthly for full coverage policies among drivers with clean records. Costco quotes for similar policies generally come in under $100 monthly, translating to big long-term savings. Even higher-risk profiles see significant discounts compared to competitor pricing.
Key Factors Affecting Costco Car Insurance Premiums
Your individual premiums with Costco depend on risk factors like:
- Age: Teen drivers pay the highest rates while middle-aged drivers see the lowest pricing.
- Driving record: Speeding tickets, at-fault accidents, DUIs substantially increase your rates. Maintaining a clean record saves the most.
- Location: Insurance minimums, accident rates, weather risks, and crime statistics vary enormously by state and even zip code.
- Vehicle: High-performance cars, luxury vehicles, and trucks face steeper rates than economy sedans. Newer cars also tend to see lower pricing.
- Coverage limits: State minimum liability protection costs less than more robust coverage with high medical, collision, and comprehensive limits.
- Credit: In most states, better credit equals better rates on car insurance. Poor credit bumps pricing considerably for many providers.
- Mileage: The less you drive annually, the more most insurers discount pricing for lower perceived risk.
Costco Car Insurance Cost Comparison to Other Providers
Costco insurance pricing cannot be beat when you combine its already discounted premiums and exclusive membership rebates of up to 10% back at the end of your membership year. Overall, Costco offers among the lowest car insurance rates for the highly-rated policies and providers it partners with Ameriprise to deliver.
For example, a typical family policy might run $135 monthly with Geico but just $95 through Costco’s offerings – and then members receive further cash back later on. Teen driver policies show similarly significant savings as do higher-risk bundles or policies with expansive coverage. Even drivers with perfect histories tend to spend at least 15% less over time than with companies like Allstate, Farmer’s, or State Farm based on sample quote comparisons.
The Peoples Chemistry in Costco Car Insurance Savings
Costco manages such impressive auto insurance savings through:
Member-exclusive pricing: Like its discounted tires or bulk paper towels, insurance offers special rates just for cardholders. These alone knock off up to 10% or more versus competitors.
Group buying power: Costco auto insurance represents millions of members. Such bulk negotiating power secures some of the lowest wholesale pricing despite no public advertising.
Focus on member needs: Costco caters to family and multi-policy needs with flexible options aimed at convenience alongside affordability – a compelling overall value.
Simplified online servicing: Members access easy digital tools for policy management, bill pay, proof of insurance, and deductible-free glass repair – saving time and hassle.
Highly-rated coverage: Low pricing does not mean sacrificing quality coverage or customer satisfaction with Costco and Ameriprise’s well-regarded services.
Generating the lowest viable quotes drives rapid membership sign-ups for the warehouse model. This focus benefits members through unbeatable long-term auto insurance value.
When Does Costco Offer the Biggest Car Insurance Discounts?
Any warehouse member deals represent savings since normal consumers lack access at any price. But Costco pricing proves extremely attractive for:
- New members: Sign-up incentives include gift cards alongside discounted insurance for early motivation to upgrade to executive tiers.
- Loyal renewals: Long-term members earn increasing price breaks over time – up to 10% over time.
- Young drivers: Teen pricing runs far lower than competitors here while still offering solid coverage.
- Risky driving histories: Costco welcomes all members so quotes better accommodate previous accidents or violations.
- Bundles: Adding executive memberships, homes, rental properties, life insurance or identity protection compounds savings further through loyalty rebates.
- Hybrids/EVs: Electrified vehicles provide discounts as do multi-car households and low-mileage customers.
Adding more drivers, vehicles, properties or affiliated coverage to an existing Costco policy amplifies the built-in value with stacking discounts. For already budget-conscious families and drivers, this instinctively aligns with warehouse shopping habits making it an easy choice for many over stand-alone insurance providers.
How to Get Started with Costco Car Insurance
If Costco car insurance sounds like an affordable option for your situation, getting a quick quote only takes minutes. As a member-access perk, quotes come directly from Costco’s own licensed insurance agents rather than third party referral services. Interested current or new members can connect by:
- Calling 877-804-2470 for a fast custom quote from a knowledgeable agent over the phone
- Clicking “Auto Insurance” under Services on Costco.com opens an online quote form
- Visiting any Costco warehouse location with a Business Center to speak to a representative
If you receive and approve your exclusive member pricing, enrollment takes just one more call or form submission. Consider adding supplemental coverage like identity protection for further savings. Within days you can access digital proof of insurance cards and tool plus personalized support articles to make policy management, adjusting details, or filing claims easier for you.