USAA Insurance, Reviewed by Experts | Bankrate

USAA Insurance review 2022

Updated

Jan. 14, 2022

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Policyholders in the military community who value customer service, robust policy options and specialized coverage for military items over in-person support through local agents might consider USAA as their company of choice.

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

with an “Honorable” discharge status. Certain family members are also eligible, including spouses and children. Products are available in all 50 states and Washington, D.C. Bankrate analyzed USAA’s insurance products to help you decide if the company is right for you.

To qualify for membership with USAA, you must be an

The United States Automobile Association, or USAA, is a financial services company that provides banking, investment and insurance products to military-affiliated members. Although not everyone qualifies for coverage, those who do may want to consider getting insurance quotes from USAA. The carrier offers low average premiums, strong customer service scores and excellent financial strength.

The United States Automobile Association, or USAA, is a financial services company that provides banking, investment and insurance products to military-affiliated members. Although not everyone qualifies for coverage, those who do may want to consider getting insurance quotes from USAA. The carrier offers low average premiums, strong customer service scores and excellent financial strength.

for being the best auto and home insurance company overall, based on Bankrate’s assessment. USAA offers several types of insurance, including auto, home and life, with added military-centric benefits that extend past the standard coverage. Coupled with its standout offerings are additional banking products, company services like vehicle loans and a strong focus on giving back to military families, caregivers and minority communities.

USAA pairs robust products with stellar customer service and financial strength. If you qualify for coverage, USAA could be the best provider for your needs. In fact, USAA tied as a winner of the

Based on our assessment, USAA could be an excellent choice for auto insurance coverage, assuming you meet the eligibility requirements due to its low premiums and high customer satisfaction. The company also has unique military-focused discounts and perks that could be appealing to those seeking coverage.

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According to our research, USAA boasts an average annual full coverage premium of $1,225 per year and an average annual minimum coverage premium of $384 per year. This is quite a bit less than the national average cost of car insurance , which is $1,674 per year for full coverage and $565 per year for minimum coverage. In fact, based on our research, USAA has lower-than-average rates for a variety of scenarios, including adding a 16-year-old driver and having a speeding ticket on your record.

The company offers coverage tailored to military members, veterans and their families. USAA can even help you get insurance coverage if you are stationed outside the U.S. in some cases. No matter what type of auto insurance you are looking for — minimum coverage to full coverage — USAA offers all the standard coverage options plus a few extras, like roadside assistance and car rental reimbursement. USAA consistently receives high customer satisfaction scores from J.D. Power, although the carrier is not eligible for official ranking due to its eligibility restrictions. In the 2021 J.D. Power U.S. Auto Insurance Study , USAA is the highest-scoring company in every single region of the country.

You might save up to 30% for participating in this program that tracks your driving habits.

Garaging your vehicle on a military base could earn you up to 15% off the cost of your comprehensive coverage.

If you store your vehicle, you could save up to 60% off your premium, even while deployed.

USAA home insurance could also be a great choice for qualifying homeowners. The carrier offers all the standard coverage options you’d expect from a major insurer, plus several perks along with excellent customer service.

In addition to auto insurance coverage, USAA partners with other insurers to offer coverage for other types of vehicles too, including motorcycles, ATVs, antique and classic cars, RVs and motorhomes. Along with insuring your car, USAA could also finance it. On top of standard auto loans (which you can apply for in just five minutes online), the company also offers leisure vehicle loans, motorcycle loans and RV loans.

USAA is more than just an insurance provider; the company offers a host of other financial products and benefits for its members. If you want to consolidate numerous financial services with one company, USAA could be a good fit.

Discounts vary by location and are subject to eligibility. The best way to know if you qualify for savings is to talk to a USAA agent.

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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Just like with auto insurance, USAA tends to offer below-average rates for home insurance, based on Bankrate’s proprietary research method. The company offers coverage nationwide, and, on average, rates are cheaper than the national average cost of home insurance , regardless of how much dwelling coverage you purchase.

No matter where you live in the country, USAA’s home insurance could be a great option to protect your home and personal property. USAA home insurance comes with all the standard coverage types — including dwelling, personal property, other structures coverage and liability coverage — and can also be personalized to suit your needs. Coverage even includes military uniforms that are damaged while on active or reserve duty. Optional coverage types include home sharing coverage, earthquake coverage and flood insurance. The company also scored 882 out of 1,000 in the 2021 J.D. Power U.S. Home Insurance Study , the highest score of any company listed.

Although USAA’s average home insurance rates are already lower than the national average, the company offers a few discounts that could help you save even more:

You might save up to 10% if you go five or more years without filing a claim.

USAA partners with ADT to bring you savings on the alarm system itself and on your home insurance once the system is installed.

Bundling your auto and home insurance could save you up to 10%.

USAA home services

USAA offers several home-related products and services in addition to home insurance. You could get your mortgage through USAA, for example, or refinance your existing mortgage. USAA is also a lender of VA loans. Additionally, the company has a “Mortgage Assistance Team” you can talk with if you are struggling with your monthly mortgage payment.

USAA also offers numerous online tools to help you with everything from buying your home, prepping your home for sale and completing home renovations. The Home Contractor Network might even help you find a trusted contractor in your area based on the details of your project. USAA can even track your current home and monitor its market value.

USAA life insurance

USAA’s life insurance offerings are more limited than other companies, but the company could be a good choice if you are looking for one of the products it offers. The company also has financial advisors available to help you understand your needs and choose a product.

USAA offers a few different life insurance products, including term life, simplified whole life and universal life. Guaranteed whole life policies are also available, although Mutual of Omaha underwrites them. Life insurance is designed to help give your loved ones a financial cushion if you pass away, so choosing the best product type for your needs is an important part of your financial plan.

USAA life insurance endorsements

Whether you choose term or permanent life insurance, you have options to get more out of your USAA life insurance policy. These benefits vary, depending on the type of policy you choose.

  • You have the option to add another $100,000 term life coverage if getting married, buying a house or having a baby — if you are between the ages of 18-35.
  • Insure all children for less than $8 per month with a term life policy; they have the option to convert to a permanent policy once they grow up, regardless of their health.
  • By paying a small fee upfront when buying a permanent policy, you can make sure your premiums are waived if you become disabled.

USAA life services

Life insurance products can be complex, and understanding what product is right for your needs can be challenging. USAA offers financial advisors to help you learn about and choose the proper life insurance product. You can call 800-531-5433 Monday through Friday, 7:30 AM to 7 PM Central Time, to speak with a representative and discuss your life insurance needs.

Other USAA perks worth considering

Membership with USAA comes with numerous benefits, including:

  • Banking products: 

    USAA offers banking products, including checking and savings accounts, credit cards and loans.

  • Mobile app: 

    USAA’s mobile app is highly rated in the Service category of the 2021 J.D. Power U.S. Insurance Digital Experience Study.

  • Renters insurance: 

    If you rent your home or apartment, USAA has renters insurance options that could help protect your belongings.

  • Landlord insurance: 

    Landlords can buy these types of policies to protect the homes that they own and rent out.

  • Umbrella insurance: 

    These insurance policies can provide excess liability coverage to help protect your finances.

USAA corporate sustainability

USAA has several areas of focus for its charitable giving, which is done through a grant program, both on a national and local level (local to USAA office locations). Contributions support military caregivers and families of the wounded or fallen, families facing homelessness and hunger, and disaster response efforts.

Additionally, the company has made a three-year, $50-million commitment to address economic, education, and employment disparities faced by minority communities.

USAA also operates an employee volunteer program, which is currently suspended due to the COVID-19 pandemic. However, USAA employees do still have the option to volunteer virtually, and nonprofits can submit volunteer opportunities through USAA Serves.

Not sure if USAA is right for you? Consider these alternatives

If you want to compare USAA with other insurance companies that offer military-related perks, these three companies may be a good place to start:

  • Geico : As one of the few insurance companies that offer a discount to military members and veterans, you could earn savings off your auto insurance policy if you meet its military discount eligibility criteria.
  • Liberty Mutual : Liberty mutual is a well-known insurance company, but what may not be as commonly known is it offers a savings for military members who are active duty, in the reserves or retired.
  • Farmers : The company offers a multitude of discounts that help policyholders earn an affordable premium. One of its discounts is an affinity discount for military members who may qualify for additional savings.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

Auto

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our sample drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.

Age: Rates were calculated by evaluating our base profile with the age 16 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and a single at-fault accident.

Homeowners

  • Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000
  • Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000
  • Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000
  • Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000
  • Coverage E, Liability: $300,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores

Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers and homeowners to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.

To determine how well the best car and home insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers and homeowners, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry, as well as 40-year-old male and female homeowners with $250,000 in dwelling coverage. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers and homeowners may compare each provider.

While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.