Welcome to Ask Clark, a column designed to answer your financial questions, by money expert Clark Howard.
Should I Buy Travel Insurance Through Costco?
Shawn from Georgia asks: “I read your article on travel insurance, and I have a question: We are purchasing a cruise through Costco Travel.
“They offer travel insurance on their website, yet you suggest going to a third party to purchase insurance. Is Costco a trusted vendor for travel insurance, or should I go to that third party?”
Clark’s Take on Whether You Should Buy Travel Insurance Through Costco
Clark says: “The cost of trip insurance with Costco, from what I’ve been able to see, is another benefit for Costco members.”
“The insurance is meaningfully cheaper buying through Costco.com than it is in the third-party travel insurance websites I normally recommend,” Clark says.
Clark usually recommends InsureMyTrip.com for travel insurance because the site lets you compare multiple policies. But because Costco Travel allows members to save 10% on their entire trip, he thinks its travel insurance options are worth a look.
Costco travel insurance is actually administered by Cover-More, a partner site that writes policies underwritten by the Zurich American Insurance Co.
What Does Costco Travel Insurance Cover?
To see whatCostco travel insurance covers on a typical international trip, I entered information about a seven-day stay in Puerto Rico from Atlanta. Here’s what the International Travel Protection Plan covered:
Screenshot via Costco.com
The cost of this travel insurance policy was $71.80 in December 2021.
For an additional $28.78, you could get these two add-ons:
Cancel for Any Reason coverage: You can cancel at least three days before your scheduled departure date and recover up to 50% of insured trip cost (max trip cost $10,000).
Rental Car Damage upgrade: It covers up to $50,000 per plan for collision damage, vandalism, windstorm, hail, fire or flood to a rental car.
With the addition of the two upgrades, the travel insurance policy came in at $100.58.
How To Get the Best Price on Travel Insurance
Clark says the best way to get travel insurance for a low price is to shop around.
I would compare the premiums and the coverages that you can get through that link on Costco Travel versus what you would see with a major issuer on InsureMyTrip,” he says.
“You can also even compare the same issuer on a third-party site of their own versus what they sell the policy for on Costco Travel.com,” he adds.
Here’s what to know about Costco Travel.
To hear Clark’s full take on this question, listen to the segment:
Do you have a question for Clark? Use this form to ask him! And remember that you can listen to the Clark Howard Podcast at any time here.
If you have a question but don’t want it included in the podcast, contact Clark’s Consumer Action Center for free money help.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.