Shopping at Costco has many benefits. The warehouse store has high quality products at competitive prices, so you can find deals on every visit. The returns policy is one of the most customer-friendly of any retailer. And don’t even get me started on the delicious (and absolutely huge) muffins.
Many members already know about it. But a Costco membership also gives you access to quite a few other benefits that don’t get nearly as much attention. Here are more benefits worth knowing about.
1. Holiday and travel booking
It may not be the first place you think of to book a trip, but Costco Travel gets high marks from members. You can book holiday packages, hotels, cruises and rental cars.
People who have booked with Costco Travel report that the prices are almost always competitive – often much less than what you would pay elsewhere. If you want to save even more on a booking, make sure you pay with one of the best Costco credit cards.
The holiday packages are especially popular among honeymooners and families. Not only can you get a good deal, but it’s also a convenient way to book a trip. Packages often include transportation, free breakfast and activities, saving you a lot of time planning your trip.
2. Affordable recipes
Because Costco buys prescription drugs in bulk, it can negotiate low prices. It passes these savings on to its customers.
Although you don’t need a Costco membership to fill prescriptions at the pharmacy, members are eligible for discounts. The Costco Membership Prescription Program is available exclusively to members. It offers discounts of up to 80% or more on prescription drugs for people and pets, whether you have insurance or not.
3. Discounts on car and home insurance
Insurance has become expensive lately. Auto insurance premiums have increased by an average of $682 since last year.
If you’re looking for cheap car insurance, your Costco membership can help here, too. It offers car insurance through CONNECT, powered by American Family Insurance. Costco members who switched reportedly saved an average of $595.86 on car insurance in the first year. It also offers homeowners insurance, so you can bundle both and potentially get a discount.
4. Lower prices on non-Costco products with Costco Next
In 2017, Costco launched a direct-to-consumer service called Costco Next. It is an online store operated by Costco that charges Costco prices but sells non-Costco products. The suppliers take care of the order processing.
Many members still don’t know about Costco Next, but it’s an exciting service. You can get excellent deals from some popular brands. Here are a few examples of what you can find at Costco Next:
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High-end luggage designer Briggs & Riley, known for luggage you can buy for life
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MOST Inc., which offers popular Korean beauty products
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Anker, which offers power banks, power stations and chargers
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Products from wine storage company Vinotemp
5. Home improvement products and services
Summer is a popular time for home improvement projects. If you have one you want to check off the list, you can probably do it at Costco. It has a network of service providers for a wide range of projects, including:
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Bathroom renovation
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Laying floors and carpet
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Installation of solar panels
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Custom cabinet and storage design
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Heating and air conditioning
To make it even better, qualifying home improvement purchases include a 10% Costco Shop Card. So if you spend $8,000, you get a card worth $800.
With all the ways you can save money at Costco, the annual membership fee is a bargain. If you are considering purchasing a membership, keep in mind that it is essentially risk-free. You can cancel and get a full refund if you decide you don’t like it. But most Costco shoppers get their money’s worth from their memberships, especially those who take full advantage of all the benefits.
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We strongly believe in the Golden Rule. Therefore, editorial opinions are ours alone and have not been previously reviewed, approved or endorsed by the included advertisers. The Ascent does not cover all offerings on the market. Editorial content from The Ascent is separate from editorial content from The Motley Fool and is created by a different analyst team. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Lyle Daly has no position in any of the stocks mentioned. The Motley Fool holds and recommends positions in Costco Wholesale and JPMorgan Chase. The Motley Fool has a disclosure policy.
5 Little-Known Benefits of a Costco Membership was originally published by The Motley Fool
