USAA question...

[LearLove]

I'm looking for some advice from you guys that use USAA for auto and home coverage.

At the end of the month I'm closing on a home and am in the process of shopping for coverage. The local agent at the real estate office (Trident Insurance by Traverers) has quoted me coverage for auto at half of what USAA charges for the same policy (500/yr vs. 1000/yr for an 02 toyota pickup truck).

As far as I can tell they are the exact same policy. I've used USAA since I was 16 (never had a claim) but I know my family has had good service wrt car and home when they needed it with USAA.

The home owners coverage came in the same between both companies.

So I guess my question is, what would you guys do? Stay with USAA or jump ship? Anyone been in the same position with USAA?

I'm not going to nickle and dime over 50 or 100 dollars diff. but 500 bucks is a big diff. and inclines me to look harder at USAA. The 500/yr diff basically pays for my coverage on the C-152 I own.

Thanks

 

[Wankel7]

Did you have this conversation with USAA?

Would your car rates drop if you paired it with a new homeowners policy?

 

[AlbieF15]

I had to quit USAA a few years back and even posted a thread on it...I think here but it might have been on APC. They were trying to get out of the FLA market and my homeowner rates went from $3000 to $6666 a year. I subsequently found a policy that priced at about $3500. When I did an auto comparision, I also found similar savings. I've now been with Progressive for about 3 years, and unfortunately had to see how they handled accident claims when my wife had a boo-boo. The service was outstanding...matching or bettering the previous USAA claims, and overall I miss them much less after more than 25 years of membership than I thought I would.

At some point USAA quit being "low risk officer's insurance" and started to try to be just another insurance company. While they still wrap themselves up in the flag of helping the serviceman, if that serviceman owns a home near a hurricane prone area he is SOL. The example I gave was when guys were PCSing away from the area, unable to sell their homes due to falling prices, USAA cancelled insurance since they won't insure "rental property". So--guys who had been with the company for years were having to add changing insurance to their out-processing checklists.

I wrote to the company, and even tried to contact a "media specialist" who's job it is to google USAA and find posts like this to discuss the issue, but the point was in 2005-2006 they were doing all they could to bail on Florida policies. Add the rising rates in auto--which I (perhaps mistakenly) attribute to the push to insure both enlisted and dependents back in the 90s instead of just the original target demographic and it was just time to leave.

So--I now spend less for homeowners and auto. USAA service was good, but so is my new company. I wish I had better news, but I don't think USAA is in any way the company that it was in the past. They want volume now, and they will do what it takes (TV ads, expanding the customer base, etc) to get it.

 

[CatfishVT9]

As long as you're okay with where the money goes. "Progressive" is not just a company, it's an ideology. There's a reason the CEO chose that name and he contributes heavily to leftist causes.

 

[WSurf]

Have have USAA for everything! Home/Auto and Banking. Love them! Even have there Credit Cards which have been ranked the best.

 

[AirCobra]

I would stay with USAA. They still offer credit cards at 9%, there average insurance rates are typically lower, they have better service, and at the end of the year you get a dividend check.

 

[Wankel7]

USAA insures rental property.

 

[IBNAV8R]

Happy with USAA - couple of claims, both home and auto - no complaints. Call them and I'm sure they will be happy to discuss the differences with you.

I've have had a few other companies ask if I'd like to save 15% on my car insurance. I tell them I have USAA and they invariably say, "Thank you, have a nice day."

 

[JimNtexas]

USAA insures rental property.

Not in Rockport Texas, and nowhere if it is considered 'short term'.

I know this from direct experience.

 

[LearLove]

Thanks for the info guys. After hearing what you guys say, doing some reasearch, talking to guys I fly with and my sister who has used USAA for car/home/life I think I'm going to stay for now.

FWIW I did get some info from a C-17 guy I flew with that said USAA has dropped him after water damage to his home in NJ (rains here have been bad this past summer) which goes along with what AlbieF15 has said.

500 extra bucks/year - I guess I'll just pick up a few extra shuttle turns to make the $$ even out.

I will check out Progressive though. Also in my shopping around I found the insurance companies that rated high like USAA had similar prices and the ones that came in significantly cheaper all had poor ratings.

In ref. to the renters insurance - in 2 of the 3 apartments I've had since 1998 I used USAA for renters insurance. It runs about $90/year to cover 15K worth of stuff in a 1 bedroom apt with USAA. However I think you guys are talking about an owner getting insurance for thier rental home not renters insurance.

Thanks

 

[Mamma]

Life Insurance is something else USAA is good with. Being a C-17 pilot nobody would give me a 20 year $750K term policy except USAA. Inc. would give me a $500 policy for the same rate as USAA's $750K policy. I honestly tried finding a fair rate with at least 8 companies and all said no. Kind of funny when they called. They were all nice and friendly until I told them I fly C-17s into combat environments. The tone then changed and they could not help me. The odd thing with USAA is the C-17 is not on the "approved" list for the low insurance rates while the C-130 is! So, while a $750K policy costs everyone else about $37/month, mine costs $75! If anyone has found a friendly life insurance company with good rates, I am all ears!

 

[T-1GUY]

We have been clobbered by hail storms four different times in ten years. USAA has always been great with the claims. Both my neighbors got their insurance coverage checks, and they were greatly reduced compared to what USAA covered. I have no complaints. Sometimes you get what you pay for...

 

[pilotyip]

An Insurance buddy of mine told me once you never save money with lower cost insurance. The proof comes when you have a claim. Story; I insure my C-172 with Avemco. 17 years ago, my previous C-172 was in a wooden hangar for its annual. The hangar was struck by lighting, burnt to the ground, melted my airplane into nothing, and all that was left was a few steel parts and the engine with a prop hub. The log books also burnt up with airplane no proof of it being the insured airplane. I showed them a yellow tag from a cyl that had been replaced on the engine. They paid in 5 days, no deductible because it was an act of god. I insure with USAA and Avemco, because I am not interested in saving money, only service.

 

[Hugh Johnson]

I was sued by a neighbor. My personal lawyer was very relieved we had USAA and the local lawyer they contracted for my case was top notch.

 

[LearLove]

An Insurance buddy of mine told me once you never save money with lower cost insurance. The proof comes when you have a claim. Story; I insure my C-172 with Avemco. 17 years ago, my previous C-172 was in a wooden hangar for its annual. The hangar was struck by lighting, burnt to the ground, melted my airplane into nothing, and all that was left was a few steel parts and the engine with a prop hub. The log books also burnt up with airplane no proof of it being the insured airplane. I showed them a yellow tag from a cyl that had been replaced on the engine. They paid in 5 days, no deductible because it was an act of god. I insure with USAA and Avemco, because I am not interested in saving money, only service.

I've got my 152 covered by AVEMCO. 600/yr.

 

[T-1GUY]

Brother in law works as an insurance salesman for last thirty years. He is not with USAA. He told me not to even consider leaving them, they are as good as it gets...

 

[WSurf]

Brother in law works as an insurance salesman for last thirty years. He is not with USAA. He told me not to even consider leaving them, they are as good as it gets...

Yep, and I've had a few friends leave........ And once you leave, they won't take you back! They found out the hard way.

 

[chignutsak]

...Add the rising rates in auto--which I (perhaps mistakenly) attribute to the push to insure both enlisted and dependents back in the 90s instead of just the original target demographic and it was just time to leave...

15 year member here with zero, zippo claims. Gosh sir, some of us E's can actually drive safely.

 

[DUATS]

Have have USAA for everything! Home/Auto and Banking. Love them! Even have there Credit Cards which have been ranked the best.

Love USAA bank - but have never gotten a good quote for insurance from them. Mortgage, investments, credit cards sure. But not insurance.

 

[mushroom]

Yep, and I've had a few friends leave........ And once you leave, they won't take you back! They found out the hard way.

Nah, not true. Or at least not true in every case. I left them once several years ago and came back a year or two after that with no problem.

 

[OurMoney1]

Noone beats USAA.

You can budget shop. And I am sure you will find cheaper insurance. But when it comes time to file a claim good luck with your el cheapo, catchy commercials talking lizard insurance.

USAA is a service business that happens to do insurance. They never turn their back on their members....period.

 

[WSurf]

Nah, not true. Or at least not true in every case. I left them once several years ago and came back a year or two after that with no problem.

Yea, I stand corrected. That is only people that get it through dependence.

 

[Mamma]

Noone beats USAA.

You can budget shop. And I am sure you will find cheaper insurance. But when it comes time to file a claim good luck with your el cheapo, catchy commercials talking lizard insurance.

USAA is a service business that happens to do insurance. They never turn their back on their members....period.

Until you try to re-fi your home loan that you already have with them. Won't match lower rates.

 

[Benhuntn]

Been with USAA since 1972.

 

[pilotyip]

Been a member since 1967. I was a 23 yr old flight student assigned to VT-1. I was getting a dependant ID card for my new bride 45 years ago and the YN Chief processing my wife's ID card said to me. "Sir (I am an Ensign, so this is funny) it is not my place to give you advice, but here is tip that will I want to give you. Join the Navy Federal Credit Union today and start an allotment of $10 per month into your account. Every time you get a raise take 1/2 of the raise and use it to increase your allotment” I followed his advice and in spite of a rocky civilian flying career I have a sizable sum in my investments as I approach my retirement. Starting early is the key, when you look at the potential of doubling in the last years. He also told me to join USAA, for both of these tips I am most thankful.

 

[LearLove]

Yip - not going to argue with you on the starting early thing but my generation (children of you baby boomers) and generations to come will not see the return on investment that you guys have.

When you started saving in 1966 the DOW was around 700. Today it is at 11K. You've seen a 10+ fold gain. Myself born in 1974 started saving in 1998 (a year after I got out of college). In in 1998 the DOW was 9000. Today 13 years later it is only 11K.

Some quick math shows your generation has seen a 230/year point gain over 45 years - where my generation is seeing a 154/year point gain. That's a 30% diff. For my generation to make the same return you've seen in 45 years the DOW would have to be over 20K by the time I'm in my mid sixties. I just cannot see that happening in the service economy that the US is becoming or has become. Maybe if we could bring back 50% of the manufacturing we've lost but I doubt it. We need to unionize Asia.

 

[sixman]

USAA is a great company up until you need help. I've been a loyal member for 20+ years only to learn USAA chooses not to stay with you through the hard times in life. I felt like I lost a long time friend when
I realized they were nothing more than a business focused on the bottom line, and not at all concerned about a member's needs. A great company when you have 800 plus credit score and a reasonable net worth of $500k+, but they cannot drop you fast enough if you suffer one of life's major setbacks as I have. I've been driven to near bankruptcy taking care of my children. I am a responsible and hardworking man, but such traits matter not to USAA.

USAA isn't true to their reputation of being a member owned, service driven company. I am saddened by their treatment of me during this time of need. My children and family suffer too as a result of USAA's lack of service and compassion.

USAA deserves no loyalty as they will not return such a commitment (I found out the hard way). I see their commercials and am sickened by the hypocrisy embedded into their marketing.

 

[pilotyip]

USAA is a great company u............and am sickened by the hypocrisy embedded into their marketing.

That has not been my expereince over 45 years of membership. Now they did act like a parent once, when my son had a couple accidents in his teens years. They told me to get a message to him that they would canx his insurance if he had one more accident. Per chance you live in FL and got caught it that flood insurance mess?

 

[pilotyip]

Yip - not going to argue with you on the starting early thing but my generation (children of you baby boomers) and generations to come will not see the return on investment that you guys have.

When you started saving in 1966 the DOW was around 700. Today it is at 11K. You've seen a 10+ fold gain. Myself born in 1974 started saving in 1998 (a year after I got out of college). In in 1998 the DOW was 9000. Today 13 years later it is only 11K.

Some quick math shows your generation has seen a 230/year point gain over 45 years - where my generation is seeing a 154/year point gain. That's a 30% diff. For my generation to make the same return you've seen in 45 years the DOW would have to be over 20K by the time I'm in my mid sixties. I just cannot see that happening in the service economy that the US is becoming or has become. Maybe if we could bring back 50% of the manufacturing we've lost but I doubt it. We need to unionize Asia.

Being somewhat selective if I might say, yes the DOW was 700 in 1967, it was also 700 in 1983. The DOW was 9000 in 1998, but then it was 7000 in 2003 and 2009. So your point is, don't invest because you will never be as lucky as me? Because I kept buying when it was low I benefited from it rising. If you had purchased in Mar of 09 like I did, you would have seen a 1000 pt a year gain. That process is still going on, unless of course union activity and BO's NLRB lap dogs destroy companies ability to make money.

 

[Hobit]

I had a recent claim after we hit a deer.

The claims agent completeley ignored us throughout the process and never returned a call.

Luckily the repairs were completed properly with one small hickup. Neither the local claims rep. or the people on the other end of the phone down in TX were helpful or the least bit invested in the issue.

Maybe my experience is anecdotal but it is in-line with two other stories in my circle.