Costco Auto Insurance - Very competetive prices

[emonkey]

Costco Insurance Agency, Inc. and the American Express Property Casualty companies have teamed up to offer Costco members auto and home insurance at very competitive rates - available especially for Costco members.
Costco Auto/Home Insurance

i moved from Chicago to LA and never switched insurance because out in LA then it costs so much since I'm single, mid twenties and male. Well, i got a new (used) Audi and all the cheap guys were pricing me so high. About $690-780 (6 mo) for 25/50, $500 deductable full coverage at places like Progressive, Statefarm, Mercury and Geico. I was on Costco's site and saw they offered auto insurance so I did an online quote and it was only $560 so I jumped at it. The GF has a 96 Accord and her insurance was quoted at $540-580 with the other guys but Costco quoted her $420! (damn female driver discounts) So its worth a try if you are looking for cheap insurance.

A few things to note that are odd.
-It is American Express that actually does the insurance
-During the quote process it redirects you to the american express site where you have to log in
-Its all done by phone or online
-No local agents
-It says you need a costco membership number but never asks for one Edit: I got an email asking for my Costco Number

Okay. It seems hot to me, but if someone else has an opinion then please post it.

 

[ThaiBruin]

I tried it, but damn tickets.... got denied

 

[puppyfriend]

I just tried it. I'm paying $900 for 2 cars right now, they wanted $981. I took a pass.

David

 

[tydas]

It seems to me that costco can't go and buy 100,00 units of insurance and pass the savings to its members!! I think that costco should stick to what they are good at and stop trying to do everything...when these stupid stores try to do that they inevitably go bankrupt because they took stupid risks and didn?t stick to their original business model?

 

[kablam]

I need to find a company that won't burn me for my DWAI.
I gotta pay 145 for my 97 civic and I'm 27!

 

[emonkey]

<< It seems to me that costco can't go and buy 100,00 units of insurance and pass the savings to its members!! I think that costco should stick to what they are good at and stop trying to do everything...when these stupid stores try to do that they inevitably go bankrupt because they took stupid risks and didn?t stick to their original business model? >>


Wow, you're pretty upset with them for some reason. Anyway, as mentioned in the first line it is a joint venture type deal between Costco and American Express. The insurance actually is coming from American Express but being discounted for CostCo Members. There's no need to get all hot and bothered over such petty things.

 

[theCheetah]

Too Bad! I pay Farmers $510, this guys are asking $1200! (SM27,50/100/50)

 

[domeng]

if you're in california, try 21st Century. They are very very competitive and handle (meaning, pays without so much fuss) cases very well. only problem is they're very strict. i heard of a couple of cases of an accident and at fault who was not renewed anymore. they have such discounts as professional discounts, good driver discounts, etc.

 

[MyBuds]

I just tried this and got declined due to insufficient driving experience. I am 19 with 3 years experience and no claims, accidents, or tickets. whatever.

 

[tydas]

Yes, I'm generally angry all the time...but my point is that Costco buys in bulk and sells in bulk...The insurance industry doesn't work like that, its based on risk...The lower the risk the lower the price, the higher the risk the higher the price...Any price advantage from a costco/amex alliance is probably negligible..
I love costco, however, lately they seem to be hawking everything from vacations to cars (which are no great deals)


Also, as you can see from my rating my comments are usually piss people off, but hey its a free country...or so we think so...

 

[phlashphire]

<< I just tried this and got declined due to insufficient driving experience. I am 19 >>


Unfortuanately many insurance companies will practice age discrimination.

 

[LukFilm]

<<

<< I just tried this and got declined due to insufficient driving experience. I am 19 >>


Unfortuanately many insurance companies will practice age discrimination. >>


Makes sense to me.

 

[tmchow]

<< Yes, I'm generally angry all the time...but my point is that Costco buys in bulk and sells in bulk...The insurance industry doesn't work like that, its based on risk...The lower the risk the lower the price, the higher the risk the higher the price...Any price advantage from a costco/amex alliance is probably negligible.. >>



If you haven't noticed already, the insurance is being offered through American Express which is a partner of Costco. They also offer an Amex+Costco member card all in one. This has less to do bulk buyign and more to do with costco's partnerships. If that results in ppl getting cheaper insurance, so be it.

 

[db]

Hah, last night I called Progressive cuz everybody said they're so good with their prices.

Best price they could give me was still more than double what I'm paying now--yikes!

 

[RossMAN]

<<

<<

<< I just tried this and got declined due to insufficient driving experience. I am 19 >>


Unfortuanately many insurance companies will practice age discrimination. >>


Makes sense to me. >>



They also practice gender and marriage discrimination. Basically if you're a married male 25 or over you've got it made.

<--- Male, 27, married

 

[NetworkDad]

I signed up through Amex a few months ago when the original hot deal was here, and i saved $150 over 6 months!

<----------------24 and Married! (No tickets/accidents ever, not even a parking ticket)

$540 every 6 months.

 

[reboos]

darn no NJ, i have NJ manufacturers though so i dunno what Costco would of been able to do for me

 

[RossMAN]

<< I signed up through Amex a few months ago when the original hot deal was here, and i saved $150 over 6 months!

<----------------24 and Married! (No tickets/accidents ever, not even a parking ticket)

$540 every 6 months. >>



You should try American Family Insurance, they just lowered me to $354/6 months plus a 20% discount if I also have renters insurance with them which is only $100/yr for $16k coverage.

Damn just noticed that they're not available in WA

 

[NetworkDad]

<<

You should try American Family Insurance, they just lowered me to $354/6 months plus a 20% discount if I also have renters insurance with them which is only $100/yr for $16k coverage.

Damn just noticed that they're not available in WA >>



yea, i tried but they don't insure in washington (Yet). I'll be 25 soon, hopefully rates will go down again.

 

[RossMAN]

<<

<<

You should try American Family Insurance, they just lowered me to $354/6 months plus a 20% discount if I also have renters insurance with them which is only $100/yr for $16k coverage.

Damn just noticed that they're not available in WA >>



yea, i tried but they don't insure in washington (Yet). I'll be 25 soon, hopefully rates will go down again. >>



What amazes me is that I have FULL (comp & collision with limits higher than Oregon's minimum) coverage and my insurance is soo much cheaper than when I was 18-24.

 

[catnap1972]

<< Hah, last night I called Progressive cuz everybody said they're so good with their prices.

Best price they could give me was still more than double what I'm paying now--yikes! >>



Heck...I'm with Allstate and *they* would charge me more than double (close to 2 1/2 times) my current rate if I applied as a new customer. Can only imagine what Costco's company would hit me up for.

 

[witold]

Doesn't work on motorcycles

Anyone know any good places that insure motorcycles?

 

[Nhan17]

I think Mercury Insurance still has the best rates.

 

[durracell]

My dad has a large insurance agency here in SoCal and he told me to specifically avoid Mercury. Remember that a good insurance company is one that will pay out quickly when there's an accident. Insurance companies are rated (A, B, etc.). My dad recommended a couple of places, and I found the best rates with AAA. All of the companies eventually cycle up and down on their rates, though.

 

[durracell]

I *think* that Progressive is pretty good on motorcyles.