What Costco Offers for Business Auto and Home Insurance
Costco's business insurance program bundles commercial auto and commercial property (home) coverage into a single policy. The auto package protects company vehicles, drivers, and liability, while the home policy covers the business's primary premises or any secondary location used for operations.
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Eligibility and Membership Requirements
Only Costco members with a valid business license and a minimum of one commercial vehicle qualify. For home coverage, the property must be used at least 50% for business purposes. Costco verifies ownership, use, and safety records before issuing a quote.
Coverage Details and Limits
Auto coverage includes:
- Collision and comprehensive protection for company vehicles.
- Commercial liability up to $5 million per incident.
- Uninsured/underinsured motorist protection.
Home coverage offers:
- Structure protection up to $250 k per dwelling.
- Business equipment and inventory up to $200 k.
- Business interruption and loss of income coverage.
Pricing Factors and Typical Premiums
Premiums vary with vehicle type, driving history, and property value. On average, a small business with two trucks and a warehouse sees annual costs ranging from $2,000 to $4,500. Discounts apply for bundling, safety features, and a clean claims history.
How to Apply and Manage Your Policy
Applications start online via Costco's Business Insurance portal. After approval, a licensed agent guides you through selecting deductibles, adding drivers, and setting coverage limits. Policy management, claims, and renewals are handled through the same portal.
Benefits of Choosing Costco
Costco's insurer partners with major carriers, offering competitive rates and comprehensive customer support. Membership benefits include access to roadside assistance and a 24/7 claims hotline. The program also offers a 30‑day money‑back guarantee if you're not satisfied with coverage.