Classic or vintage motorcycle insurance

Topic Of This Post

• Types of classic motorcycle insurance that we offer
• What to take into account when hiring classic motorcycle insurance?
• How to find cheap classic motorcycle insurance?

Many motorcycles are considered by their owners as authentic jewels. However, in some cases, they are called classic due to their intrinsic characteristics and their age, although in order to award them with this distinction, they have to meet certain specific requirements.

As is the case with other vehicles, they must be covered by at least compulsory civil liability insurance, as established by the Historic Vehicle Regulations. However, when hiring classic motorcycle insurance, the procedure is not exactly the same as in the case of a conventional vehicle. Also, not all insurers offer this type of policy.

Types of classic motorcycle insurance that we offer

If you want to take out old motorcycle insurance, you have several different alternatives at your fingertips. Take note of the most demanded:

• To thirds. It includes basic coverage that includes compulsory and voluntary civil liability, legal defense, and claim for damages.
• To third parties extended. If your motorcycle is really valuable, you can also protect it against theft and fire.
• Full of risk. It is possible to obtain complete protection against any eventuality. In this way, the driver will have their own damages covered.

Whichever method you choose, you can configure and customize your policy according to your needs. In fact, it is possible to opt for the third-party modality —the most economical— and then complement it with optional coverage such as travel assistance or towing service from kilometer 0.

What to take into account when hiring classic motorcycle insurance?

Some of the factors that can influence the price of your insurance are:

• Bet on full insurance. Being very well maintained vehicles and, given their type, repairs are more expensive than in the case of other motorcycles.
• Not all insurance companies are the same or offer the same insurance. Before hiring the best classic motorcycle insurance and including certain important coverages such as theft or personal damage, we recommend that you make a preliminary comparison with a motorcycle insurance comparator such as Doctor I to make a better decision.

How to find cheap classic motorcycle insurance?

The price of insurance for classic motorcycles is usually lower than that of other two-wheeled vehicles. Since they are vehicles that are not used as much, not even for long journeys, the risk to which the driver is exposed is extremely lower. For this reason, companies usually have a classification based on the age of classic motorcycles, in such a way that the older they are, the lower the premiums will be. However, everything will depend on the conditions governed by each company.

Cheap classic motorcycle insurance is the basic coverage, or what is the same, the third-party modality. However, as we have already mentioned, companies usually include other coverage to offer greater protection, such as voluntary civil liability, travel assistance, legal defense, or driver accidents. When selecting the ideal insurance for you, use the Doctor I motorcycle comparator. This tool will help you save time and money.

What does Allstate cover in auto insurance?

Looking for an insurance company that can give you the best standard coverage you want? Look no further because Allstate insurance offers all the standard auto insurance coverage you need.

In this guide, I will provide the vivid details you need to know about Allstate insurance, its pros and cons, why you should use them, and how it works.

About Allstate Insurance

Allstate Insurance was founded as an auto insurance company in 1931, Allstate Insurance introduced a driver safety rating system, it also opened the first driving claims office, established a driver training teacher training grant program, and also offered the first small car discount.

They offer a lot of interesting discounts and features, but in many cases, this is not the first choice for most drivers based on an analysis of several types of drivers. Allstate insurance prices can cost more compared to other insurance agencies and the information collected suggests that customer service and satisfaction is generally average. 

The best feature of Allstate insurance is its extensive agent network, which makes it easy for people who wish to purchase insurance through an agent to do so.

This review then evaluates Allstate insurance in terms of availability, claims handling, coverage options, shopping experience, pros and cons of discount programs, and then compares it to other insurers. 

Allstate Coverage Options

Allstate Insurance offers all the standard auto insurance coverage you need. It doesn’t have the popularity, votes, or reviews of Farm State or Geico, but then Allstate Insurance provides travel insurance for online transportation organizations like Uber and Lyft Drivers.

Allstate’s insurance is different from its competitors with the “Your Choice of Car” program, which adds several types of insurance coverage to drivers that other insurers do not have.

Insurance from Allstate Insurance

Allstate Insurance offers the following types of coverage:

• Responsibility
• Physical Damage
• Uninsured motorist
• Help on the road
• rideshare
• Rent refund
• Gap insurance

Allstate offers the usual auto coverage options, as well as some extra features you can add (depending on your state) for an additional fee, including:

Allstate Insurance – Your Auto Choice

An accident is an unexpected event and then it can happen to anyone Allstate insurance has an additional program called Your Choice Auto in a place that recognizes and encourages safe driving. Allstate insurance estimates its cost to be between 12% and 18% on top of the standard insurance premium, but it can be increased by 7% to 13% if you choose the Safe Driving Bonus. Allstate Insurance Your Choice Auto package saves qualified customers with the following features:

Safe Driving Bonus

With the Safe Driving Bonus Check, you can use a check for up to 5% of your previous 6-month insurance premium for every 6 months of accident-free driving nationwide (except in New York City policy where the Safe Driving Bonus is available as a discount). ).

Forgiveness for the accident.

Allstate Insurance allows typical premium increases and accident copayments when you have an accident. The amount of forgiveness (major or minor) depends on the insured’s driving record and years as an Allstate customer. Depending on the level of the plan and the uptime of the driver, this could mean forgiving one to several accidents within three years without increasing rates or removing the good driver discount. However, for drivers insured in California, the accident forgiveness feature is limited and you could still lose the good driver discount.

Deductible rewards.

Allstate insurance reduces your collision deductible by $100 when you sign up with them, and then takes an additional $100 each year you don’t have an accident, for a total of up to $500.

New machine replacement

If you purchased your new vehicle in or after 2012 and it was accumulated during the first three model years, Allstate Insurance will then send a check to the primary insurer showing the vehicle’s purchase price, which is different from the depreciated cost, which may also be significantly reduced.

Allstate Auto Insurance Price Comparison

Among the four major auto insurers, Allstate is the smallest available for the driver profiles we reviewed. In the 2,150 cities we reviewed, we found that Allstate insurance typically ranks between the 6th and 10th most affordable insurers for our sample profile’s 30-year-old driver. Allstate Insurance used to be the cheapest insurance company, accounting for less than 3% of those 2,150 cities.

Benefits of Allstate Insurance

Working with Allstate insurance allows you to sell a full range of insurance products that are different from others. Here are a few more Allstate Insurance benefits:

Provides perspective

How to Find Leads at Allstate Insurance? Allstate insurance has a lot of clients and then they claim they are not involved. 

One way to find potential customers is to partner with Allstate Insurance Agents. These partnerships are skeptical of lead discovery information because you can offer life-changing solutions to existing Allstate customers. 

In addition, the agents you partner with as a personal financial representatives are aware of the needs of their clients, which increases your chances of conversion. 

Special marketing and sales programs.

As mentioned, personal financial representatives receive exclusive partnerships with several Allstate agents. 

This partnership brings you commissions, renewals, and tracking, while agents receive a P&C bonus and improved customer retention. 

Cons of Allstate Insurance

Satisfactory customer ratings are below the average ratings of other companies. Customer service at Allstate Insurance is less than what other companies offer.

Lastly, there is little or no mention of the business, so people should check out other insurance companies before finally learning about Allstate insurance.

How much does Allstate insurance commission cost?

Allstate Insurance does not list its fees, but it does list the plan as one of the most competitive in the industry since there is no endpoint to your potential income. 

To give you a good idea of ​​what you can expect to earn, the national median income for Allstate’s financial crisis is around $56,000, but it can sometimes go over $100,000. 

Other estimates put the average close to $77,000 per year, with some values ​​over $170,000. 

How to increase your commission with Allstate Insurance

If you want to increase your commission with Allstate Insurance, you need to increase your sales. To help achieve this goal, Allstate Insurance provides the previously mentioned partnerships with Allstate Insurance Agents with highly customizable marketing collateral.

Is Allstate insurance legal or a scam?

Allstate insurance is not a scam, nor is it a pyramid scheme or an insurance MLM. You can be so strong and confident, and it’s all because of his great reviews and then the company’s long history of almost 85 years, and then its huge luck and status achievement. 

Allstate Insurance has moderately high ratings from its former employees, which has helped bolster its reputation. Combined with overall ratings of 3.8/5, her former employees rated Allstate insurance at 3.7/5 for work-life balance and 3.4 for benefits and pay. 

How to recognize insurance fraud

One of the purposes of this review is to acquaint us with the understanding and knowledge of how to identify insurance, this will help you avoid becoming a victim of fraud. Insurance fraud can be used in a variety of ways to identify common types of fraud that are less expensive than others, and these include:

• Deliberately destroying property and then deceiving the insurance company into believing it was an accident.
• Pretend to be injured to get workers’ compensation, disability, or injury insurance.
• Making a false report of the theft or then pretending to have stolen property when it was destroyed or hidden.

How to protect yourself from consumer fraud

We provide you with proven measures and steps you can take to protect yourself and your loved ones from typical consumer fraud. Here are the best ways to protect yourself:

• Do not share your Social Security Number (SSN), bank account, or credit card information with strangers.
• Do not sign documents until you have read and understood them carefully.
• Don’t pay money upfront to get a loan or win the lottery.
• Do not respond to emails or letters asking you to transfer money from your country.

How to benefit from free psychological therapy with school insurance

At the beginning of the academic year, we usually make a payment, but whose benefits often go unnoticed: school insurance. This is a public resource that protects students under the age of 28 who take official studies from the third year of ESO . up to the third university cycle. Thus, it offers “health and economic benefits, in case of illness, school accident and family misfortune,” they explain in Social Security. 

But did you know that there is also psychological assistance within these categories? Indeed, the medical aid of this insurance includes neuropsychiatric and psychological treatments, provided that a series of requirements are met. However, it is a service unknown to most parents and students, but it is instrumental in protecting young people’s mental health.

Who can benefit from school insurance?

The psychologist has recalled this in charge of Occimorons, whose publication has become viral on Instagram. “These are difficult times, and perhaps this information will be useful to someone. Share it because it is a resource that exists,” argues the expert. 

First of all, one of the requirements to access school insurance is to be under 28 years of age and enrolled in one of the studies included in the conditions. Likewise, one year of insurance must be accredited, have Spanish nationality, or be a foreigner with legal residence in the country and have paid the corresponding fee.

Regarding the accreditation of having one year of insurance,  this requirement “is not required for benefits derived from school accidents, family misfortune. And obstetrics, nor for students who the previous year have completed 2nd of ESO, special education or who have continued their studies abroad “, they indicate in the Social Security.

Therefore, the students of the following academic itineraries are included in the insurance:

• 3rd and 4th of ESO
• High school.
• Vocational training, second grade, middle grade, superior and exceptional.
• University Orientation Course and Unified Polyvalent Baccalaureate.
• Professional qualification programs.
• Students from integrated centers.
• University studies of intermediate degree, superior degree, and doctorate
• Higher degree studies in music conservatories
• Higher degree studies in dance conservatories
• drama studios
• Theology in the higher centers of the Catholic Church
• The second cycle of secondary education for adults
• University students who carry out curricular internships
• Training programs for the transition to adulthood

What psychological and neuropsychiatric services does it include?

Neuropsychiatry is included in the insurance and includes ” inpatient or outpatient treatment of neuropsychiatric processes. due to their severity, affect the continuity of studies.” However, the so-called ” disorders of psychological development and behavior and emotions, with a usual onset in childhood and adolescence” are excluded, detailed in the Social Security.

In this sense, inpatient treatment will be considered when the student is in a hospital for a minimum of six hours a day, even if he does not spend the night. Thus, this treatment will include accommodation and maintenance services, medical care, and pharmaceutical assistance. In terms of time, it is offered for an initial period of six months, which can be extended for another six months.

On the other hand, outpatient treatment refers to when the student spends less than six hours a day in a hospital and is also known for six months, extendable to one year.

Regarding private psychological therapy, psychotherapy sessions conducted by psychologists “are included provided they are prescribed by a psychiatrist.” 

How can it be processed?

Applications for school insurance can be made electronically or in person. If having a digital certificate or permanent clave, psychological assistance may be requested through the Social Securityelectronic office.

This procedure can also be carried out through the platform application and Procedures for Social Security Benefits‘ or at a Social Security Service and Information Center.

Another option to carry out this procedure is to print the corresponding form and send it to the assigned Provincial Directorate.

What documentation must be presented?

Besides benefits derived from a school accident or medical emergency, health benefits must be requested before the assistance. Thus, together with the application, it will be necessary to present the following documentation:

• DNI or family book. Proof of identity document for foreigners
• Non-university students: Certificate from the study center
• University students: Receipt of the registration form
• Receipt of payment of School Insurance from the previous year.
• Diagnosis of psychiatry according to the international classifications DSM-III-R or ICD/10. It must include a brief description of the patient’s current state, the pharmacological treatment, and indicated psychological therapy. In addition, you will have to add if the latter will be carried out by a psychologist or by the psychiatrist himself.

What is the insurance waiting period?

The insurance waiting period, also known as the observation period, refers to the specified period when the insurance contract takes effect, even if an insured accident occurs, the beneficiary cannot obtain insurance compensation. This period is called the waiting period. The purpose of setting the waiting period is to prevent the insured from knowing that an insured accident will occur and immediately apply for insurance to obtain it.

Under normal circumstances, the waiting period for critical illness insurance is 90-180 days, and the waiting period for medical insurance is 30 days. The waiting period is generally calculated from the effective date or reinstatement date of the contract and is only applicable to the first insurance year. For renewable policies, there is generally no waiting period for the renewal year.

The waiting period can be understood as a “passive protection period” given by laws and regulations to insurance companies to avoid the risk of insuring with illness.

General medical insurance waiting period

Ordinary medical insurance is out of danger during the waiting period, no compensation but the contract continues to be valid. Unlike fixed-payment insurance, ordinary medical insurance will not terminate the insurance liability if the insurance is out during the waiting period. The original intention of the design of ordinary medical insurance is to protect the insurance consumers’ medical expenses. The reimbursement system is adopted to provide a claim for each risk occurrence. Therefore, you can get a claim even for the same reasons. The setting of the waiting period is mainly to avoid the problem of insurance before surgery for accidents or diseases.

Accidental medical insurance generally does not have a waiting period

Since accidental injury is not predictable, and the setting of accidental injury medical insurance is based on the condition that the accident occurs after the insurance period begins, there is no need to set a waiting period.

Millions of Medical Insurance Waiting Period Exclusions

Since the protection object of the millions of medical insurance product design is the treatment risk of major diseases, the setting of the waiting period is necessary, but due to its reimbursement-type insurance liability, the treatment method of “exemption from danger” is adopted, that is, waiting for Diseases diagnosed during the period will no longer be covered by insurance for the disease.

Critical illness insurance waiting period

At present, most insurance companies have adopted a 90-day waiting period and the system of direct termination of the contract during the waiting period. The following is an analysis of common situations during the waiting period of critical illness insurance:

1. What should I do if the physical examination is abnormal or the problems mentioned in the health notice are found during the waiting period?

For example, during the waiting period after applying for insurance, the unit will organize a physical examination and find out that there is a thyroid nodule. What should I do? Do I need to tell the insurance company?

Under normal circumstances, the choice is selective notification according to the condition. In principle, as long as there is no such thyroid nodule before the insurance, and it meets the “health notice”, it will not affect the subsequent claims of the purchased critical illness insurance. To put it simply: “No matter how many types of critical illness insurance are available, most of them cannot be obtained in one or two days. There is no reason to get sick without buying insurance.”

2. Directly diagnosed with a serious illness during the waiting period

In this case, regardless of whether you have symptoms before applying for the insurance, the accumulated premiums will be refunded and the contract will be terminated. For some products that are set to return cash value, you can try to maintain your rights and interests through negotiation, complaint, and litigation.

3. Waiting period setting for critical illness insurance and mild illness

For the treatment of mild illness, there are different ways depending on the type of insurance. In the products of some insurance companies, minor illness liability is included in the critical illness insurance product. Then, the “mild” treatment of this type of product is the same as the above-mentioned serious illness treatment. During the waiting period, the insurance will either settle the claim or terminate the contract. There are also products of some insurance companies, where the liability for minor illness exists as separate additional insurance, so the “minor illness” liability of such products can be terminated separately from the additional insurance for the minor illness during the waiting period, to continue to protect the liability for serious illness.

In general insurance practice, once there is a minor illness liability claim, likely, the major illness insurance will also encounter delays, refusal, increase fees, exemptions, etc.

What does Allstate cover in auto insurance?

Whenever you buy insurance, we recommend getting a free quote before deciding on a coverage. Our simple tool below lets you get started by entering your zip code.

Allstate Overview

As one of the largest car insurance companies in the country, Allstate is available in all 50 states. In 2019 alone, Allstate wrote premiums of $ 23 billion according to the National Association of Insurance Commissioners (NAIC).

The insurance company has an A + AM Best and A + financial strength rating from the Better Business Bureau (BBB). Allstate works through a network of local agents to provide vehicle insurance to customers. The main benefit of this is that local agents are able to meet the needs of specific communities directly.

In addition to vehicle insurance, Allstate offers the following types of coverage:

• Home insurance
• Tenant insurance
• Condo insurance
• Motorcycle insurance
• Business insurance
• Life insurance

Allstate Auto Insurance Coverage

Allstate offers the following types of standard vehicle insurance coverage:

• Liability insurance
• Collision insurance
• Comprehensive insurance
• Medical fees
• Personal injury protection
• Uninsured motor vehicle insurance and less

On top of that basic coverage, you can get the following types of Allstate auto insurance when you sign up for a policy.

Rent refund Rental refunds help you pay for transportation expenses such as rental cars

or public transportation.

Gap insurance This helps pay off your car loan in case your car is amounted or stolen.

New car replacement If your car is two years old or less, Allstate will replace it after the occurrence of a covered accident.

Delay and labor This coverage includes tows, flat tire changes, jump starts, locking assistance,

and gas or oil delivery.

Rideshare Insurance If you’re driving for Uber or Lyft, rideshare insurance can help protect you

while you wait for passengers between trips.

Sound system coverage This coverage will replace stolen or damaged sound equipment.

Classic car insurance Protect your classic vehicle or collector with Allstate.

Allstate Auto Insurance Costs

After doing the homework at the provider, we found that Allstate tends to be more expensive than its competitors. However, many factors affect your car insurance premium, including age, driving history, and the model and model of your vehicle. The only way to know how much you will pay to get coverage is to get a quote.

Allstate Discounts

Discounts can reduce insurance premiums, depending on the savings you qualify for. Here’s the discount you can get with Allstate auto insurance:

Allstate DiscountsDetails

New car If you are the first owner of your car, you may be eligible for a discount.

Various policies Combine your vehicle insurance with home or renters insurance to save money.

Smart students Full-time students with good value can save on car insurance.

Anti-lock brakes Save if your car has anti-lock brakes.

Anti-theft devices Save if your car has an anti-theft device.

Early Registration Discount ® Register for your policy seven or more days before it takes effect.

Responsible payer Save if you pay on time over the past year.

EZ salary plan Save to arrange automatic withdrawals.

Allstate eSmart Paperless by signing up for a policy and your premium will be reduced.

fully Pay off your vehicle insurance policy in full to save money.

Safe driving club Drive safely to get into the Allstate safe driving club and get a discount.

Additional Benefits

Along with discounts, you can also save money on Allstate auto policies by looking at the following programs and benefits:

• Accident forgiveness: This can be added to your policy so that your rate will not go up after an accident.
• Safe Driving Bonus: Receive a bonus for every six months of safe driving.
• Deductible Rewards: Get a $ 100 deduction from the violations you deducted when you signed up and another $ 100 from your deductible each year you are accident-free (up to a total of $ 500).

Navigate 

Like most leading car insurance companies, Allstate has a safe driving app that can help you lower your car insurance rates by driving safely. The free app, Allstate Mobile, gives you personalized feedback on your driving habits. You can earn cash just for signing up to the program, and then every six months, you potentially earn more savings.

The Allstate Mobile app has a 4.1-star rating on Google Play. Many positive reviews highlight the ease of the application, while negative reviews mention technical issues and problems.

How to File a Claim

Allstate has a simple online claims process that includes instructions on how to proceed after a vehicle accident. This website allows you to track claims and make payments. Alternatively, you can use the Allstate Mobile app to manage claims.

Allstate Auto Insurance Review

Allstate performed well in industry reviews such as JD Power 2020 US US Auto Insurance Satisfaction BC, where it earned the highest rating among the leading insurance companies in Florida.

The company has closed more than 400 complaints through BBB in the past year, yet it only gets a 1.7 -star rating from customers based on more than 200 reviews. Keep in mind that customers are more likely to give negative than positive reviews when it comes to car insurance companies, especially during a stressful claims process.

Allstate Auto Insurance Review Positive

We have had three accidents in 20 years, and each incident was dealt with smoothly and within 24 hours. Delegates are always patient, attentive, and accurate with the information provided to resolve each case. 

“Having been with this company for 13 years. They are always very helpful! Car wreck, no problem, well taken care of.Allstate Negative Auto Insurance Reviews

It is too difficult to resolve the claim. [Cannot] use printouts directly from appointments at the doctor’s office or insurance forms sent after service. Always need to submit more forms. It takes forever to get paid for anything. The worst insurance I have ever faced! ” – Connie Q., BBB

“I called in January 2020 to issue a car and homeowners were converted to renters insurance. I was told that the entire old policy would have to be repealed, and a new one with my current needs would be made. That was fine, but over the next [two] months I was charged twice because the [original] policy was not canceled properly.

Our results on Allstate Auto Insurance: 90%

We rate Allstate at a rate of 90% due to its availability and excellent industry position. Allstate auto insurance coverage is comprehensive, although it is expensive compared to insurance from other major providers. If you are quality at a discount, you can get great coverage with Allstate.

We recommend contacting Allstate and several other providers so that you can compare policies side-by-side. Enter your zip code below to start getting free car insurance quotes.

Top Choices for Car Insurance

In addition to Allstate auto insurance, our team has done research on other major insurance providers. Two insurance companies we highly recommend are GEICO and State Farm.

GEICO: Overall Best

Our team rated the GEICO at 96 percent and found it to be the best choice for most drivers. GEICO has an exceptional customer service reputation and high ratings from industry experts, including an A ++ financial strength rating from AM Best and an A + from BBB.

GEICO is known for its affordable coverage. You can combine different types of insurance such as auto vehicles and homeowners and save on both. Read our full GEICO auto insurance review to learn more.

State Farm: Best for Student Drivers

Our team rated State Farm at 95 percent because of its long discount list and strong online experience. State Farm has an A rating from the BBB, a 4.7-star rating on Google Play, and an A ++ financial strength rating from AM Best.

The Drive Safe & Save State program can save you money if you are a safe driver, and the Steer Clear ® program is designed specifically for young drivers. For more information on coverage, read our full review of State Farm vehicle insurance.

Do you know how to proceed to collect life insurance?

After the death of a loved one comes the bad experience of putting in order all the legal aspects and, also, the economic ones. Considering the monetary issue at such times is not easy, but for many families, clarifying and defining this aspect is an essential issue that will help shape their future: it is time to collect Life insurance.

Requirements to be able to collect the life insurance

The first thing to be able to collect  AARP life insurance, obviously, is that there is life insurance contracted by the deceased. If you have one, a copy of the contract should be included in his official papers. If you do not know if it had or not, you can make a query in the Registry of death coverage insurance contracts, dependent on the Ministry of Justice. This body collects all insurance with death coverage contracted in the country. Specifically, it saves the data related to the insured person, the insurance company, and the insurance contract signed. This means that in this register, we will only be informed of whether or not said insurance exists and with which company it was contracted.

The second step to be able to collect life insurance is to know if you are the beneficiary or one of the beneficiaries of that policy, that is, of those designated to receive the money. If you do not have a copy of the contract, you will have to contact the insurer directly to find out. It will be this one who confirms whether or not we are the beneficiaries, as well as the specific conditions of the contracted policy. Remember: you must inform the entity of the death of the insured person within seven days.

Documents to present to collect the life insurance

With the certainty that you are a beneficiary, to collect life insurance, you must prove your identity. The insurance policy already collects the information that identifies you as such, but, in addition, you must present a photocopy of your DNI to prove that you are who you say you are, as well as the following documents, which we indicate as an example:

• Death certificate of the insured person.
• Medical certificate of the insured. It must include the origin, evolution of the disease, or accident that caused the death. If the death was by accident, the testimony of the judicial proceedings is necessary.
• Certificate of the Registry of Acts of Last Wills.
• Copy of the Last Will, Notarial Act of Declaration of Heirs or Judicial Order of Declaration of Heirs.
• Total or partial self-settlement of the Inheritance Tax or partial administrative settlement.

When will I be able to collect life insurance? How long does it take to make the compensation payment?

Once all the documentation has been delivered, the insurer will be in charge of reviewing and collating it in order to approve the payment of the compensation and, thus, consider the process to collect the completed life insurance. If everything is in order, the insurer will make the payment within 40 days from the declaration of the claim.

 Does using a Visa save money for Costco members?

We are talking about cashback cards, Costco credit cards are precisely among the best plastics to save on all purchases since not only does the discount in the form of cashback apply to purchases at Costco stores, but they also go beyond there in exchange for a very low annual cost.

Costco is a global wholesale supermarket giant based in the United States. It is a shopping club in which one pays for the membership that is around USD 55 per year and you can simply buy in any of its stores. In exchange for paying for this membership, Costco passes the discounts on to customers through a simple, quality shopping experience.

It is not uncommon to meet people from all social strata and fans of the company in the countries where it is located. Highly competitive prices, purchase policies, generous warranty and return, and of course slightly larger than normal packages in some cases, but not all.

The truth is that Costco credit cards are issued by Visa and Citi in the United States or Citi Banamex in Mexico. Both have similar features that make them highly regarded by their customers for their added benefit inside and outside of Costco.

Citi Banamex Costco Visa

One of the characteristics of the Citi Banamex and Costco credit cards is the possibility of financing purchases at 7.15% for 6 or 12 months, something that is not exactly what I recommend since nobody wants to be eating sausages with mash today will pay in 2021.

The truth is that the card currently offers 3% cashback at Costco Mexico, payable at the end of the year. In other words, they will return 3% of everything we have bought during the year as if it were an additional payment that we received from our work to save.Purchases that are not financed, that is, at a cash price, will have an additional 2.3% discount at Costco added to the possibility of an additional 2% cashback at the end of the year in case of having the executive membership that has a higher cost. then the general one, but which is usually justified or pays for itself.

The card wouldn’t have much value if it were only useful in Costco stores, and this product offers 2% cashback on all purchases, anywhere in the world. In other words, it competes directly with HSBC 2 Now regarding the 2% cashback, with the difference that it adds discounts and cashback with Costco.

The insurances that Visa Costco Citi Banamex includes include:

• Extended warranty
• price protection
• Protected purchase
• car rental collision insurance

In short, 3% at Costco and its gas stations in Mexico and the United States + 2% cashback on all purchases outside of Costco. Plus an additional 2.3% discount at Costco Mexico for non-financed purchases and all the guaranteed satisfaction of shopping at one of the most important stories in the world and an incredible price. Not bad, right?

The cost is simple, $450 + VAT or USD 18.50 per year. Spending USD 1,000 outside Costco in a year exceeds the annual cost of the card, and just spending USD 600 inside Costco stores covers the annuity.

Citi Costco Anywhere Visa Signature United States

The Citi United States credit card co-created with Costco has no annual cost, that is, we pay $0 to maintain it. We must have the general membership of Costco to be approved, that is, USD 60 per year, or USD 120 in the case of the executive that offers 2% reimbursement on all Costco purchases payable at the end of the year.

The cashback structure of Citi Costco Anywhere is quite simple, a percentage in each of the specified categories that will return at the end of the year in the form of a bonus by the end of February. This reward is a certificate that can be redeemed for cash or merchandise at Costco USA. Simple.

While Citi Banamex offers 3% at gas stations and purchases at Costco, the Citi USA card promises 4% reimbursement on the first USD 7,000 in gasoline, but at any gas station in the world. In other words, the benefit is not limited only to the company’s gas stations but also includes your preferred and local company.

Who said that this product was not a travel product? The promised cashback for the global travel and dining category is 3%. As long as the establishment where we pay is correctly cataloged in the purchase terminal, we will obtain a 3% refund without limits.

Plus, 2% back at Costco as you’d expect, which adds up to 4% if you’re an executive member. For everything else, 1%.

This credit card can be paired with the Double Cash from the same bank that offers 2% cashback on all purchases but has an international commission, so while we are traveling we could take advantage of the benefits of the Costco Anywhere card, and to all additional categories where we do not receive benefits beyond 1% domestically, use Double Cash.

Citi has eliminated virtually all Visa and Mastercard benefits from its credit cards in an unprecedented move. This card is the only one that still keeps some of these benefits alive:

• Extended warranty for up to 12 months
• Purchase protection up to 120 days

Conclusions about saving and Costco

This is an example of a low-cost, high-savings credit card. It allows us to save in the preferred stores, in case of being a member of Costco, and also obtain discounts beyond the borders of the company. In exchange, we sacrifice seeing cents in our account and tempting ourselves to spend them today for an annual accumulation of the same redeemable at the end of the year.

Somehow the fact that Costco’s credit card cashback is payable once a year reinforces the idea of ​​seeing how a cashback card can give us value by receiving payment in full and potentially several hundred dollars every year. years.