Costco Connect insurance, are you willing to risk it?

[rlloz]

I'm currently insured with Nationwide Rivian insurance, first 6 months $1200, 2nd $1400 3rd, I did the driver's app and got 19% discount b/c my wife didn't want to do it I would have had 38% discount and, not shockingly it's still going up even with 19% discount which got me looking to find someone new.


I saw a few owners say they switched to Costco Connect, which prompted me to call, and WOW way way cheaper, but, I'm not looking to save money at the cost of a future headache, so I started looking for reviews and WOW are they horrible.

If you did go with Connect, did you do it after reading the reviews, or did you go solely based on price hoping you'll never need it and have to find out how bad they are with paying claims?

For us, with 2 vehicles we're looking at $2800 / year for Rivian and $1100for wifes vehicle (2 different carriers) And Costco Connect would be $2200 a year for both total, so the savings is $1700 a year. The only thing I tried to get more apples to apples but Connect never replied to my question to raise the rental coverage from $35/ day to $105/ day which is what I have currently.

Part of me really wants to save $1700 a year, but a bigger part of me doesn't want to as the minute I do it, I'm guaranteed to have to use it and then really regret switching due to their poor customer service and how they will fight paying claims, I cannot imagine a Rivian owner not being able to get their Truck fixed b/c Connect refuses to pay the cost of repair which is an extremely likely outcome.

Thoughts?

Costco doesn’t cover anyone under age 26. The rates are lower because we are safer drivers.
Ages 16-26 have the highest insurance claims. We have 4 vehicles ( Rivian R1T , Nissan LEAF, 2007 Toyota, 1997 Sierra 1500) and still pay le less than u here in Olympic peninsula WA

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[AYAYRON]

Costco doesn’t cover anyone under age 26. The rates are lower because we are safer drivers.
Ages 16-26 have the highest insurance claims. We have 4 vehicles ( Rivian R1T , Nissan LEAF, 2007 Toyota, 1997 Sierra 1500) and still pay le less than u here in Olympic peninsula WA

Not sure what you mean by “we are safer drivers”

Texas rates are through the roof because of hail and the winter storm in 2021, not to related to the lackluster driving habits of the general driver, which definitely has gone way down hill since 2020 but that’s not a big factor in the premiums simply because hail claims and the winter storm dwarfed the normal accident claims losses

 

[rlloz]

More mature older drivers

 

[Gman]

You marry for the money
you end up earning it

lets hear from those who have claim experiences before we buy- sound ok to you?

 

[Gman]

Above

 

[Sevn86]

I have Costco connect and I switched to them because I was tired of paying the high rates geico was charging. Plus the other companies I requested quotes from were expensive too!

 

[chryses]

TL;DR: I share lots of the reservations expressed here, but I took the plunge (in large part because my circumstances give me limited options).

I haven’t owned a car in 20 years, but find I need one now that I have kids. Rivian/Nationwide won’t insure me because I haven’t had coverage for so many years. And after shopping around, I’m having the same issue with many other insurers. Slim pickings.

I maxed out the coverage available from Connect and they quoted me ~$550/6 months. That’s 1/4 of what Progressive wanted and half of what Geico wanted. I figure that if I have to go with a company that gets terrible (online) reviews, I might as well pick the cheapest. And then shop around in 6 months to see what other options are available to me.

I will note that, while the BBB reviews/complaints are terrible, the posts I found about Connect on Reddit were actually pretty decent (for whatever that’s worth). But I haven’t heard about anyone who has a Rivian filing a claim with them.

 

[AYAYRON]

TL;DR: I share lots of the reservations expressed here, but I took the plunge (in large part because my circumstances give me limited options).

I haven’t owned a car in 20 years, but find I need one now that I have kids. Rivian/Nationwide won’t insure me because I haven’t had coverage for so many years. And after shopping around, I’m having the same issue with many other insurers. Slim pickings.

I maxed out the coverage available from Connect and they quoted me ~$550/6 months. That’s 1/4 of what Progressive wanted and half of what Geico wanted. I figure that if I have to go with a company that gets terrible (online) reviews, I might as well pick the cheapest. And then shop around in 6 months to see what other options are available to me.

I will note that, while the BBB reviews/complaints are terrible, the posts I found about Connect on Reddit were actually pretty decent (for whatever that’s worth). But I haven’t heard about anyone who has a Rivian filing a claim with them.

Yeah seems like a lot of complaints are people who signed up for monthly and didn’t do auto pay got charged 6 months if they were late…. That’s not the insurance companies fault in my op

 

[AO_Pete]

Costco doesn’t cover anyone under age 26. The rates are lower because we are safer drivers.
Ages 16-26 have the highest insurance claims. We have 4 vehicles ( Rivian R1T , Nissan LEAF, 2007 Toyota, 1997 Sierra 1500) and still pay le less than u here in Olympic peninsula WA

They do. They've been insuring one of our kids as a primary driver on her car, as part of the overall policy, since she was 19. They may not take on under-26's in isolation, but no issue as part of a larger policy.

 

[dduffey]

I moved from Travelers to Ameriprise due to the difference for our Teslas (2x the cost!). For the Rivian they were about the same.

I've not had to file a claim though...

 

[AO_Pete]

If there's an insurance company that's a absolute pleasure to deal with during a claim, I've yet to meet them. For me, the fact that they operate under Costco's umbrella/brand, and are the cheapest by far, is good enough.

 

[SherlockOhms]

I'm currently insured with Nationwide Rivian insurance, first 6 months $1200, 2nd $1400 3rd, I did the driver's app and got 19% discount b/c my wife didn't want to do it I would have had 38% discount and, not shockingly it's still going up even with 19% discount which got me looking to find someone new.


I saw a few owners say they switched to Costco Connect, which prompted me to call, and WOW way way cheaper, but, I'm not looking to save money at the cost of a future headache, so I started looking for reviews and WOW are they horrible.

If you did go with Connect, did you do it after reading the reviews, or did you go solely based on price hoping you'll never need it and have to find out how bad they are with paying claims?

For us, with 2 vehicles we're looking at $2800 / year for Rivian and $1100for wifes vehicle (2 different carriers) And Costco Connect would be $2200 a year for both total, so the savings is $1700 a year. The only thing I tried to get more apples to apples but Connect never replied to my question to raise the rental coverage from $35/ day to $105/ day which is what I have currently.

Part of me really wants to save $1700 a year, but a bigger part of me doesn't want to as the minute I do it, I'm guaranteed to have to use it and then really regret switching due to their poor customer service and how they will fight paying claims, I cannot imagine a Rivian owner not being able to get their Truck fixed b/c Connect refuses to pay the cost of repair which is an extremely likely outcome.

Thoughts?

I useed Costco’s car insurance a few years back. I will never do business with that insurance company again.

I was with Amica up before that. I’m using Amica products again.

 

[Singletracker]

I signed up for the Costco insurance, today. They were easily the least expensive - half of what Nationwide wanted. I hope I never have to use them, but will keep my fingers crossed. I talked to several of the reps on the phone and they were exceedingly nice. Not sure that‘s worth much, however.

 

[BrayBay]

Just saw this after posting in the Rivian Insurance hike thread. Never used Costco before, maybe I'll check them out. Seems like most people are having better luck to get a reduced rate with similar coverage.

 

[Singletracker]

I basically did the whole Costco insurance signup online. Pretty easy.

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