Costco Homeowners Insurance Review [2024]
Costco Homeowners Insurance, underwritten by American Family Insurance, offers a comprehensive policy with additional protection options and exclusive discounts for Costco members.
Jeffrey Manola
Licensed Insurance Agent
Jeffrey Manola is an experienced life insurance agent who founded TopQuoteLifeInsurance.com and NoMedicalExamQuotes.com. His mission when creating these sites was to provide online consumers searching for life insurance with the most affordable term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance. Not only does he strive to provide consumers with t...
Licensed Insurance Agent
UPDATED: Apr 23, 2024
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Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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Costco Homeowners Insurance
Average Monthly Rate For Good Drivers
N/AA.M. Best Rating:
AComplaint Level:
LowPros
- Standard homeowners insurance policy.
- Connect Insurance provides endorsements for added protection.
- Cheaper policies for Costco members.
- Multiple options for discounts.
Cons
- Costco does not offer homeowners insurance quotes on its website.
- Customer reviews on the BBB website currently rate the company as one out of five stars.
- You will have to speak to an agent to get a quote.
- Costco offers homeowners insurance in 44 states throughout the U.S.
- Costco homeowners insurance is available through Connect, a subsidiary of American Family Insurance
- American Family Insurance has an A (Excellent) rating with A.M. Best and an A- with the Better Business Bureau
If you are searching for a homeowners insurance policy, you may want to consider Costco as an option. Costco homeowners insurance is available in 44 U.S. states. But Costco does not actually offer insurance products. Instead, people who buy homeowners insurance through Costco are buying a Connect Insurance product.
If you are looking for the best home insurance policies, you will want to shop around and compare prices online, so you don’t end up paying too much for coverage. You can use our free tool above to compare prices for homeowners insurance in your area and see how much you could save.
What You Should Know About Ameriprise Auto & Home Insurance (Costco)
Costco homeowners insurance offers a standard policy for homeowners. Through Connect, which is powered by American Family Insurance. A homeonwers insurance policy with Connect includes:
- Your home, along with other dwellings on the property
- Personal property such as furniture and appliances
- Liability to cover any legal fees
- Loss of use if you need a temporary residence
- Medical payments
In addition to the coverages listed above, Connect also offers:
- Personal injury protection
- Water backup and sump pump overflow coverage
- Scheduled personal property, like fine art and musical instruments
If you are looking for a standard homeowners insurance policy, Costco home insurance may be a good fit for you. But you should speak to an agent about getting a Costco homeowners insurance quote before you commit to anything.
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Ameriprise Auto & Home Insurance (Costco) Insurance Coverage Options
When it comes to safeguarding your home and possessions, Costco Homeowners Insurance, backed by American Family Insurance through Connect, offers a comprehensive array of coverage options. Understanding these options is crucial in tailoring a policy that suits your specific needs and ensures the protection of your most valuable assets.
- Dwelling Coverage: Protects the structure of your home, including the roof, walls, floors, and built-in appliances, in case of covered perils like fire or wind damage.
- Personal Property Coverage: Covers personal belongings such as furniture, electronics, and clothing, both inside and outside your home, against covered events like theft or vandalism.
- Liability Coverage: Provides financial protection in the event you are found responsible for causing injuries or property damage to others, covering legal fees and medical expenses.
- Additional Living Expenses (ALE): Assists with additional living expenses if your home becomes uninhabitable due to a covered peril, covering costs like temporary housing, meals, and transportation.
- Medical Payments to Others: Covers medical expenses for guests who are injured on your property, regardless of fault.
By exploring these options and consulting with a Costco insurance agent, you can customize a policy that not only meets your unique requirements but also provides peace of mind for the unexpected. Your home deserves the right protection, and Costco Homeowners Insurance is here to help you build that security.
Ameriprise Auto & Home Insurance (Costco) Insurance Rates Breakdown
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| Driver Profile | Costco Homeowners | National Average |
|---|---|---|
| Clean Record | $221 | $119 |
| 1+ Ticket | $267 | $147 |
| 1+ Accident | $342 | $173 |
| DUI | $442 | $209 |
| Poor Credit | $380 | $205 |
*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver
It’s impossible to know how much you’ll pay for a homeowners insurance policy with Costco until you speak to an agent about some of your specific information. Homeowners insurance rates vary based on a lot of different factors, like where you live, the cost of your home, and more.
The table below shows the top 10 homeowners insurance companies in the U.S. with each company’s average annual rates, A.M. Best rating, and market share percentage.
Top 10 Homeowners Insurance Companies by Market Share
| Companies | Average Annual Rates (For $500,000 Home in Pasadena) | A.M. Best Rating | Market Share Percentage |
|---|---|---|---|
| State Farm | $972 | A++ | 18.50% |
| Allstate | $1,047 | A++ | 8.36% |
| Liberty Mutual | $1,076 | A | 6.74% |
| USAA | $1,154 | A++ | 6.24% |
| Farmers Insurance | $1,869 | A | 5.86% |
| Travelers | $795 | A++ | 3.81% |
| American Family Insurance | $1,127 | A | 3.32% |
| Nationwide | $961 | A+ | 3.22% |
| Chubb Ltd Group | $2,031 | A++ | 2.87% |
| Erie Insurance Group | N/A | A+ | 1.70% |
As you can see, American Family Insurance made the top 10 list, which is great news for anyone considering a Costco homeowners insurance policy. While the average annual rate for a homeowners policy with American Family is $1,127, you will still need to reach out to the company to get a more accurate quote for your home.
Ameriprise Auto & Home Insurance (Costco) Discounts Available
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| Discounts | Costco Homeowners |
|---|---|
| Anti Theft | 13% |
| Good Student | 14% |
| Low Mileage | 11% |
| Paperless | 10% |
| Safe Driver | 13% |
| Senior Driver | 12% |
It is possible to save money on a homeowners insurance policy with Costco and lower your monthly rates altogether. One way many people get lower rates is by simply being a Costco member. Costco offers incentives and price advantages to its members who decide to go with Connect home insurance.
Another great way to save money on homeowners insurance — and virtually any other insurance you can think of — is to ask for any eligible discounts. As of right now, Costco offers the following discounts on its homeowners insurance:
- Costco Membership Discount: Exclusive savings for Costco members who choose Connect homeowners insurance.
- Multi-Policy Discount: Bundle your homeowners insurance with other policies, such as auto insurance, to enjoy additional savings.
- Age of Home Discount: Receive a discount based on the age of your home, rewarding those with newer properties.
- Claim-Free Discount: Enjoy reduced premiums by maintaining a claims-free history over a specified period.
- Tenure Discount: Loyalty is rewarded with discounts based on the length of time you’ve been insured with Connect.
- Home Safety Features Discount: Installing safety features like security systems or smoke detectors can qualify you for additional savings.
- Renovation Discount: Upgrades to your home, such as a new roof or modernized systems, may make you eligible for discounts.
Costco Homeowners Insurance stands out not only for its robust coverage options but also for its commitment to offering significant discounts. From exclusive Costco member benefits to incentives for safety measures and home improvements, these discounts make protecting your home with Connect both prudent and cost-effective.
Reach out to a Costco insurance agent to explore how these discounts can be applied to your policy, ensuring that your home is not only well-protected but also budget-friendly.
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How Ameriprise Auto & Home Insurance (Costco) Ranks Among Providers
While Costco Homeowners Insurance, facilitated by Connect powered by American Family Insurance, offers a unique blend of coverage options and discounts, it operates in a competitive market with several notable competitors. Here are some of its main competitors in the homeowners insurance landscape:
- Allstate: Allstate is a well-known insurance company that offers a variety of insurance products, including homeowners insurance. It competes with Costco by providing comprehensive coverage and a range of discounts.
- State Farm: State Farm is one of the largest insurance providers in the United States, offering homeowners insurance along with other insurance products. They compete with Costco by providing personalized service and a wide network of agents.
- Liberty Mutual: Liberty Mutual is another major player in the insurance industry, providing homeowners insurance with customizable coverage options. It competes with Costco through various discounts and policy flexibility.
- Progressive: Progressive is known for its auto insurance, but it also offers homeowners insurance. It competes with Costco by providing online tools for easy quotes and policy management.
- Geico: While Geico is primarily recognized for auto insurance, it also offers homeowners insurance. Geico often competes on pricing and bundling discounts, aiming for affordability.
- Farmers Insurance: Farmers is another insurance company that offers homeowners insurance, competing with Costco by providing coverage options and discounts.
Choosing the right homeowners insurance provider depends on individual needs, preferences, and the level of coverage required. It’s recommended for consumers to compare quotes, coverage options, and customer reviews to find the insurance company that best aligns with their specific requirements.
Costco Homeowners Insurance Claims Process
Ease of Filing a Claim
Costco Homeowners Insurance, administered by Connect through American Family Insurance, offers a user-friendly and efficient claims process. Policyholders can file claims through multiple channels, including an online portal, over the phone, or via mobile apps. The availability of diverse options caters to the varied preferences and convenience of homeowners.
Average Claim Processing Time
Connect strives to streamline the claims process, aiming for prompt and efficient resolutions. While specific processing times may vary based on the nature and complexity of the claim, policyholders generally experience a relatively quick turnaround. The company’s commitment to timely processing contributes to enhanced customer satisfaction during challenging times.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback on claim resolutions and payouts indicates a generally positive experience with Connect’s claims handling. The company’s dedication to fair assessments and transparent communication reflects in favorable customer reviews. The satisfaction with the resolution process underscores Connect’s commitment to supporting homeowners through the entire claims journey.
Costco Homeowners Insurance Digital and Technological Features
Mobile App Features and Functionality
Connect’s mobile app is a robust tool for homeowners, providing easy access to policy information, claims filing, and account management. The app features intuitive navigation, allowing users to review coverage details, track claims status, and receive real-time updates.
Online Account Management Capabilities
Connect offers a comprehensive online account management platform, empowering homeowners to have control over their policies. Through the online portal, policyholders can review policy details, make updates, and manage payments seamlessly. The platform ensures a user-friendly experience, allowing homeowners to conveniently monitor and adjust their coverage as needed.
Digital Tools and Resources
Connect invests in digital tools and resources to enhance the overall customer experience. These may include educational resources, risk assessment tools, and home inventory features. By leveraging technology, Connect aims to provide homeowners with valuable insights and resources, empowering them to make informed decisions about their coverage and property protection.
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Frequently Asked Questions
Can I transfer my existing homeowners insurance policy to Costco?
Yes, in some cases, you may be able to transfer your existing homeowners insurance policy to Costco. Speak to an agent to discuss the details and determine if it’s a viable option for you.
Is Costco Homeowners Insurance a Good Choice?
Costco homeowners insurance offers a standard policy for homeowners, which includes coverage for dwelling, personal property, liability, and additional living expenses. If you are looking for a standard homeowners insurance policy, Costco home insurance may be a good fit for you.
Does Costco have good ratings and reviews?
Costco homeowners insurance is offered by American Family Insurance, which has an A (Excellent) rating with A.M. Best and a stable outlook. The Better Business Bureau (BBB) has given American Family Insurance an A- rating.
Can I make changes to my Costco homeowners insurance policy after purchase?
Yes, you can make changes to your policy after purchase. If you need to update coverage limits, add endorsements, or make any modifications, contact an agent to assist you with the process.
What discounts are available for Costco homeowners insurance?
Costco offers discounts for its members on homeowners insurance, including multi-policy, age of home, claim-free, tenure, home safety, and renovation discounts. Speak to an agent to see if you qualify for these discounts or if additional discounts are available.
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Jeffrey Manola
Licensed Insurance Agent
Jeffrey Manola is an experienced life insurance agent who founded TopQuoteLifeInsurance.com and NoMedicalExamQuotes.com. His mission when creating these sites was to provide online consumers searching for life insurance with the most affordable term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance. Not only does he strive to provide consumers with t...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
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jheoaustin
F***** BS cheater, Stay Away
Taylor_Applegate
Horrible costumer serveice
Rob_Thomas
Ridiculous company, stay away!!
Jfiedler
No explanation of premium increase
KingSIGGA
Connect is the best!
mrtoddler
Ameriprise has great customer service.
Money2020
Ameriprise insurance
miche
good company
tvlngman
No Rental Car or Loaner Car Coverage!
ambidesign
Ameriprise Auto