With more than 100 stores across Canada, Costco is growing in popularity as a one-stop shop for wholesale prices on food and other goods. Did you not know the benefits of your Costco membership also give discounts on pet insurance? It's offered with Canadian pet insurance Pets Plus Us; this benefit is only offered to U.S. Costco members. We looked at the insurance coverage available to determine if it's worth a shot to take advantage.

Available Plans

Pet owners who buy accident and illness insurance can also join wellness plans. But, these plans don't have the same benefits as traditional insurance policies. Preventive care is simply a matter of deciding on the amount you'd like to spend on your pet's health every year and then dividing the amount over twelve monthly payments. For instance, if you're paying $650 for preventive care over your insurance's entire year, you'll receive $650 in benefits. It's an account to save money that can only be used for routine vet medical care.

All plans include the Blue Ribbon Benefits package, an annual subscription typically $8.95 monthly. It also gives you access to several 24-hour pet helplines, which include PetHelpFone to get emergency advice from a veterinarian and for advice on post-poisoning, the Post Poison Help Line, and the Compassionate Care Line, which is a support service for pet owners who are struggling with the loss of a beloved pet due to fatal disease or death. Pet concierges are also in place to connect you with the required products and services. You'll be able to subscribe to Modern Dog or Modern Cat magazine.

Plan Pricing

Costco's pet insurance rates are quite expensive partly because of the limited coverage offered by the plans. Contrary to other insurance providers, the cost is fixed for animals of all ages, and even the coverage for illness isn't increased with age. The deductibles increase as your pet reaches certain milestones. For instance, a $67.53-per-month plan for a dog that is one year old has an annual deductible of $300; however, a 12-year-old dog will have the same cost for a deductible of $700.

Waiting Periods

Like many pet insurance providers, Costco starts offering accident benefits after two days of insurance. Injuries are covered once you've reached the 14-day mark. Additional benefits that do not fit into the definition of illness or injury, for instance, those offered by the Blue Ribbon Benefits package, start after 48 hours.

Pre-Existing Conditions

The pet insurance policy does not cover pre-existing medical conditions. Any indications your pet experiences before the time that the policy begins (or the waiting period is over) are considered to be pre-existing, whether or not the veterinarian has identified an illness. To ensure that they do not miss any possible health issues in pets, the Costco underwriters for policy examine your pet's vet records thoroughly. They may also require specific laboratory tests of older pets to check for any underlying diseases.

Coverage Limits

The accident-only insurance offered by Costco is backed by the option of $5,000 in benefits annually without choosing an upper or lower amount. In the case of accident-only coverage, it is possible to choose between the annual limit of $15,000 or $7,500. One of the most flexible plans in regard to limits of protection is the wellness policy which begins at $250 per year and is offered in increments of $100 up to $1,250.

Plan Exclusions

Exclusions from a policy with Costco pets are determined on a case-by-case basis, based on the outcome of the underwriting procedure. The insurance plan you choose to purchase will detail the conditions that are pre-existing and not covered by the insurance company. This eliminates the uncertainty of determining whether or not the cost will be covered once you present your claim to the insurance provider.

Claims

All claims made under the Costco pet policy are sent directly to Pets Plus Us, the company that manages the policies. The provider's website provides a variety of forms that you must ask your vet to fill out in accordance with the kind of claim you have, such as an accident and illness claim, an emergency health claim, or a wellness claim. This form is delivered along with a photocopy of the receipt for payment by email, fax, or mail. The reimbursement is made via either direct deposit or a paper check.