USAA Insurance Review 2016

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USAA has operated since 1922, when it opened its doors as a small, specialized organization started by 25 officers from the Army in San Antonio, Texas. Over the ensuing decades, USAA has continually grown, earning many accolades, including a spot on Fortune’s World’s Most Admired Companies list. In addition to its financial strength and stability, USAA shines with its affordable rates, excellent customer service and a large menu of insurance, banking, investment and retirement products.

The company’s website makes it fast and easy to get a USAA insurance quote. You simply need to sign up with USAA, choose the type of insurance you want and provide some personal information. To join USAA, you must belong to one of the following groups:

  • Active Military Members: Anyone who currently serves in the Navy, Army, Air Force, Marines or National Guard
  • Retired/Separated Military Members: Individuals who left the military with an honorable discharge
  • Cadets/Midshipmen: Individuals in advanced ROTC, on ROTC scholarship, in a U.S. service academy and officer candidates who are within two years of commissioning
  • Military Families: Un-remarried former spouses, widows and widowers of USAA members who held USAA property or auto insurance during the marriage and children whose parents have or had USAA property or auto insurance

USAA Auto Insurance

Because USAA offers car-buying services, car-selling services and auto loans in addition to USAA car insurance, you can find your next car, finance it and insure it all in one location. Available car insurance discounts include:

  • Safe driver discount for drivers with a clean driving record for at least five years
  • Driver training discount for young drivers who complete a training course
  • Multi-vehicle discount for members with two or more cars with USAA car insurance
  • Annual mileage discount based on the annual tally of miles driven
  • Bundle discounts for individuals with multiple types of USAA insurance

If you’re researching military car insurance, you should look for a policy that includes bodily injury and property-damage liability coverage in addition to personal injury protection, medical payments coverage, collision or comprehensive coverage and protection from underinsured or uninsured drivers. USAA offers competitive rates, but it’s wise to shop around and get at least two or three quotes to make sure you get the most reasonable price available.

USAA Motorcycle Insurance

USAA designs its motorcycle insurance to protect its clients’ bikes, scooters, mopeds and ATVs. Members receive a 5% discount. The insurer also offers discounts if you’re claims-free, have passed an approved safety course or choose to insure multiple bikes. The policy protects your motorcycle while also offering added benefits such as 24-hour roadside assistance and 24/7 claims service.

USAA Home Insurance

A USAA homeowners insurance policy protects a covered home in case of fire, weather-related events, vandalism, theft, liability and identity theft. What makes USAA’s coverage unique is its replacement cost coverage, which pays for your home and belongings to be replaced at their current value without any depreciation reductions. You can save as much as 10% on a homeowners policy if you insure both your home and automobile with USAA.

USAA Renters Insurance

USAA offers renters insurance with premiums as low as $144 per year. These policies provide replacement cost coverage for personal property for renters. Property owners or landlords have insurance for their buildings, but renters’ personal belongings are rarely covered. If you rent your home, USAA’s coverage reimburses you for the cost of replacing your damaged or stolen property.

USAA Health Insurance

USAA’s full suite of health insurance options is available to eligible members who have had one of the following life events occur in the past 60 days:

  • Lost health coverage
  • Aged out of a parent’s health plan
  • Moved away from a coverage area
  • Had a child
  • Got married or divorced
  • Separated from the military
  • Lost a dependent or spouse

If you’re an eligible applicant, you have access to traditional health insurance, vision insurance and dental insurance. USAA also offers short-term health insurance to provide a bridge if you’re waiting for your coverage to begin or you’re between jobs.

USAA Life Insurance

With the company’s handy estimator tool, which is available on its website, USAA makes it easy to figure out how much life insurance you need based on annual income and the number of years your family needs to rely on that income. Like many other insurers, USAA offers term life, whole life and universal life insurance. What sets USAA apart is its term life policies designed specifically for military members that provide added protection for active-duty deployment, wartime service and severe injuries.

Other Types of Insurance Offered

In addition to main insurance options, USAA also offers many other types of insurance, including USAA pet insurance, which provides “nose-to-tail” coverage for cats and dogs. Other insurance options include:

  • USAA travel insurance: This coverage allows you to earn vacation points and receive 100% reimbursement for canceled trips
  • USAA dental insurance: Coverage for individuals and families that provides benefits for preventative services, restorative services and orthodontia
  • USAA gap insurance: USAA’s “Total Loss Protection” program covers the difference between the value of your totaled vehicle and the amount you owe on the car loan. This is only available on USAA auto loans
  • USAA flood insurance: USAA’s homeowners insurance doesn’t cover flood damage caused by rain, melting snow, hurricanes and other catastrophic events. Coverage is available through the National Flood Insurance Program

Bottom Line

If you’re a member of the military, a veteran or the child of a military member, USAA provides great service and good coverage at low prices. Filing a claim is easy with the insurer’s app, website and 24/7 phone number, and the variety of insurance options available makes it easy to find the coverage you need for peace of mind.

Caryn Anderson
Caryn Anderson combines extensive behind-the-scenes writing experience with her passion for all things food, fashion and finance. Anderson honed her craft while earning her B.S in Communication Studies from New York University.

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