USAA Insurance

[monkey44]

I know we fall into a slightly different category with no towed vehicle. So, us (TC'ers) have standard insurance (we just list the TC as property - It's considered cargo in Florida)

So, we're ready to renew our policy on both vehicles - SUV and PU ...

Many guys on here talk about USAA insurance as very good, and conpetitive pricing. We just got a a USAA quote of DOUBLE our current rate, and from several other companies ... USAA is twice the cost of Farmers, State Farm, etc.

We currently pay about $700 for six months, both vehicles. No accidents, no tickets, no other drivers but me and wife. USAA quotes $1380 for six months... We put about 8-12K per year on truck camping, and about 5K on SUV around town when we're home. So we average less than 20K miles total, around town and camping trips combined as we are retired.

What am I missing??? Why is USAA (supposedly a solid military "benefit") twice the cost.

[mountainkowboy]

adamis wrote:
Longtime user of USAA since sometime in the 90s. To the poster that commented about not servicing Enlisted... I'm not an expert on the history but I think the company was founded by Military Officers originally to service Officers needs. Not saying it was right or wrong back then to exclude Enlisted but it was just a different time than now. It is good that they have opened it up to all military.

As far as the Insurance rates go, I honestly couldn't say if they are competitive as I have never shopped around. Call me foolish but I'm all in with USAA from Mortgages, Insurance, Banking, Investing, it is all there. I have a one stop website to log in and no exactly where my money is and that is a convenience I accept for likely a higher price than if I shopped around individually for these services.

What has sold me on them is their customer service. It has slipped a hair but it is still some of the best in my opinion. When I call them, I can talk to a live person usually within about 30 seconds and that live person actually knows how to handle my needs and if they don't, they will make sure to connect you to someone that can.

In regards to claims, they have been extremely good to me. As an example, my dad wrecked my car in Vegas. The other car started a legal fight and the only reason I even knew about it was I got a letter from USAA saying they handling the entire thing.

Lastly... one more thing to keep in mind is that as a Member, we receive cash back every year based on a distribution they make. I think last year I received a couple hundred dollars back which reduces the cost of insurance quite a bit.

Us too, been with them for decades and I have cross shopped them. What little savings I would get would be nothing as compared to the C/S I get.

We lost everything to a fire in 2003 and talking with neighbors who were insured by other companies, I'm glad that we were with USAA. They went out of there way to "make it right" and make sure that we got EVERYTHING we were entitled to with our policy and coached us with the purchase of another home. Our underwriter STRONGLY advised us to spend more that we wanted to spend on our replacement home...and we took his advice. 2 weeks after we closed escrow we received a check for $170,000.00. If we had bought a lesser priced house we wouldn't have gotten anything. I highly doubt that any other insurance company would have done this, and from talking with my burned out neighbors, most of the "other" big name insurers took forever to settle there claims.

It's not always about the money.........

[adamis]

Longtime user of USAA since sometime in the 90s. To the poster that commented about not servicing Enlisted... I'm not an expert on the history but I think the company was founded by Military Officers originally to service Officers needs. Not saying it was right or wrong back then to exclude Enlisted but it was just a different time than now. It is good that they have opened it up to all military.

As far as the Insurance rates go, I honestly couldn't say if they are competitive as I have never shopped around. Call me foolish but I'm all in with USAA from Mortgages, Insurance, Banking, Investing, it is all there. I have a one stop website to log in and no exactly where my money is and that is a convenience I accept for likely a higher price than if I shopped around individually for these services.

What has sold me on them is their customer service. It has slipped a hair but it is still some of the best in my opinion. When I call them, I can talk to a live person usually within about 30 seconds and that live person actually knows how to handle my needs and if they don't, they will make sure to connect you to someone that can.

In regards to claims, they have been extremely good to me. As an example, my dad wrecked my car in Vegas. The other car started a legal fight and the only reason I even knew about it was I got a letter from USAA saying they handling the entire thing.

Lastly... one more thing to keep in mind is that as a Member, we receive cash back every year based on a distribution they make. I think last year I received a couple hundred dollars back which reduces the cost of insurance quite a bit.

[daily_double]

We had USAA for years house, cars TC 5er and they finally got to where they priced themselves out of the market. Switched to Farmers and saved about $1500 a year.

[otrfun]

We got a quote from USAA on our TC that was 1/2 the cost of Progressive, Geico, Foremost, etc. Unfortunately, it came with a caveat. USAA doesn't offer 5 years of replacement value coverage (replace with "new" up to 5 model years) like other RV insurers (at least in our area). USAA only offers ACV (actual cash value) coverage. ACV provides significantly less coverage (vs. 5-year replacement) in the event of a total loss situation.

[Chainwright]

"So it really doesn't matter there which company you chose. Some companies won't even sell policies in Mass - I'd guess because they can't raise rates, and can't make enough money.
IF insurance is mandatory - which is true in most, if not all states - then it should be regulated as well. AND, yes, it should be mandatory, so we do not become victims of the uninsured. Of course, even mandatory here in Florida, there is still a "fee and choice" for uninsured motorist coverage, and based on the laws there should be none of those ... right? Don't bet on that one. "
Wow and you're from Mass. Too. I don't mean to Derail or change the subject, but when I read that, it reminded me of the Current Health care Issues. Anyway, I digress. Sorry. If you don't mind I'll use this in Other Forums.

[zb39]

I have been with USAA since Feb 1987. They used to be GREAT. Then about 10 years ago they started slipping. These days I have my house with them, but that will soon change. I also have 2 cars with them and the other cars are with state farm. They let anybody insure with them these days and it has hurt them.

[sbryan]

As a former insurance commissioner I can assure you that every state and territory regulates insurance. The state/territory may not set rates, as in MA, but actuaries and financial experts on the insurance department's roster do examine rates and claims to insure companies are charging "appropriately". That leaves lots of room for rate setting at different levels but the goal is to make sure insurance companies are treating consumers fairly, using consistent underwriting standards, and that they are financially sound and able to pay claims even in adverse circumstances.

[monkey44]

The only state the I know regulates insurance is Mass. A state insurance board sets the rates, and only allows companies to petition for rate raises annually. Every driver pays the same rate, subject to specific deductions for good driving, no tickets etc.

So it really doesn't matter there which company you chose. Some companies won't even sell policies in Mass - I'd guess because they can't raise rates, and can't make enough money.

IF insurance is mandatory - which is true in most, if not all states - then it should be regulated as well. AND, yes, it should be mandatory, so we do not become victims of the uninsured. Of course, even mandatory here in Florida, there is still a "fee and choice" for uninsured motorist coverage, and based on the laws there should be none of those ... right? Don't bet on that one.

[Chainwright]

USAA will go through your credit record and driving record with a fine toothed comb and God forbid you have a felony or misdermenor in your history. Some folks love USAA and swear by it, Me, nah I don't. When I 1st Enlisted in 1990, I called them to insure my car, they said we don't service ENLISTED military members, only officers. I know they service Enlisted too now, but that never sat well with me. I wans't good enough for you then, so you don't get my business now. To each their own. That's my take.

[wanderingaimles]

twodownzero wrote:


USAA said Geico's rates were too low and they'd go up.

And that statement tells the tale.

I've always thought the auto insurance industry did this. Geico and Progressive for several decades went back and forth with me, one would be substantially cheaper, and I would switch, and about three years of rate increases, the other would be cheaper.
These companies feel no great degree of loyalty to their consumers, so I dont see a need to feel that way toward them.

If one was cheaper for more than two years, it likely was because they felt the markets had shifted, because statistics say that most older drivers. Those who have been driving and buying their own insurance for more than 10 years, tend to just stay with the company they previously had, and the insurers know this and use it.

[twodownzero]

I had USAA insurance for years as well, but it is not competitive for my current vehicles and so I have Geico.

I have their homeowners and it is cheaper than everyone else the last time I checked. I also have a policy for my valuable personal property.

USAA said Geico's rates were too low and they'd go up. Years later and they're still lower than USAA was. I love USAA, but they need to get competitive or lose my business.

[monkey44]

Well, we will enjoy it - but the curious bug always bites me when I see things like this so distorted ...

[wanderingaimles]

It depends on a lot of factors. I was in Cape Cod just prior to moving to Miami years ago for a PCS move, Andrew hit and while they paid off, State Farm immediately dropped me as part of them reducing their exposure in Florida. I'm sure all companies do the same thing today.
For me in Virginia USAA was about 20& cheaper than either Geico or Progressive. And they have quoted me cheaper for when we shift to South Dakota as well.

If you have found a better deal, take it and enjoy it, but every couple of years, go back and check them all again, policies do change.

[monkey44]

We retired to Leesburg, Florida now (three years) - Was Cape Cod for almost twenty years, still have friends and family up in that area. Hard to take it out of my signature 🙂

Nope, No longer Jacksonville - matter of fact, our insurance went down a little when we moved because we became "rural, not city" ...

The agency we have now, is in Clermont and is local. But we always "shop it" when we come up for renewal, especially when the company raises rates on us.

It's hard to figure DOUBLE for USAA ... that's a restricted company, and supposedly "pick/allow less risky clients" due to those restrictions ... I'd think that anyway.

Funny thing too, as military as Florida is with numerous bases, it would also do homeowners insurance, but it will not write it in Florida. Hurricanes?? Maybe, but usually policies have Hurricane exclusion, or add-on ...

We'll probably stay with this local independent agency, but am really puzzled why USAA comes in so high ... Maybe it truly does not want clients in Florida, but it's international, so Florida is a tiny piece of that pie, but why cut out any pieces?? Baffling !!!

Might take that advice and give Good Sam a call ...

Guess I better change my signature too -- 🙂 🙂

[towpro]

and it says central Fl below your name, but your signature says JAX Fla.
I know Orlando Fla is expensive but I live north of there in the country.