Stat Monitor Repairman said:

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USAA blames an increase in auto claims because people were on the road more in 2022.

What happened to the surplus in 2020 from when people were staying home and staying safe?

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Google is your friend... https://www.expressnews.com/business/local/article/USAA-awards-dividend-to-drivers-for-3rd-time-15457054.php#:~:text=USAA%20is%20giving%20its%20auto,fewer%20cars%20on%20the%20road.

Quote:

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USAA is giving its auto insurance customers another dividend, the third such benefit during the coronavirus pandemic that has led to fewer cars on the road.Aug 4, 2020

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Cinco Ranch Aggie said:

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Hanrahan said:

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Yup. All insco rates are insanely high. USAA used to be the outlier. Then they started opening up beyond officer ranks and then extended family and the growth was nice until they realized the risk pool went to hell… now they are as bad as every other insco….

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Yep.

I did a research project on USAA in my last semester at A&M, but since I wasn't in the military I didn't expect to ever get insurance from them. It wasn't that long ago that my dad, who did serve, told me I could get insurance with USAA, maybe a decade ago or so. Rates were fantastic, for years, even through Harvey. But then in the last couple of years, I have noticed a skyrocketing of what I'm paying. I've never had a claim, but would estimate my rates have very nearly doubled from what I was initially paying.

I have shopped around, but haven't found anything that would make it worth the hassle of switching.

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I'm curious what USAA company is actually insuring you. You could be insured by "USAA" via one of the companies below. I've made the rounds through USAA, USAA Casualty, and USAA County Mutual. County Mutual had terrible rates. When they moved me back to Casualty my rates got significantly better.

United Services Automobile Association

USAA Casualty Insurance Company

USAA General Indemnity Company

Garrison Property and Casualty Insurance Company

USAA County Mutual Insurance Company

USAA Limited

USAA S. A.

USAA Insurance Agency

NOBLR Reciprocal Exchange

I do wish they'd slow down on the advertising and growth and get back to their core business. Their customer service has been terrible the last few years

They got roasted on Twitter this past weekend.

It's Garrison Property and Casualty Insurance Company

I love USAA. Thier customer service is still good. Not as good as it used to be, but the decline in their service is a billion times less than the decline in service most other businesses.

I always questioned how they managed claims. I was t-boned by a HS student speeding to school becasue she was late. Luckily, i was driving a big SUV and wasn't even scratched.

This particular location had red light cameras. Open and shut case. Can easily prove speeding, and easily prove she ran a red light.

Our USAA dude made it a no-fault claim and USAA picked up the bill for my car. I do understand sometimes the expense in making the other guy pay is more than the actual damage. But my damages were about ten grand. Is it that difficult to ask for video at a red light camera? Does it cost more than ten grand to do a quick phone call?

If they consistently do that, then our rates will be higher than their competitors.

txyaloo said:

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Cinco Ranch Aggie said:

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Hanrahan said:

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Yup. All insco rates are insanely high. USAA used to be the outlier. Then they started opening up beyond officer ranks and then extended family and the growth was nice until they realized the risk pool went to hell… now they are as bad as every other insco….

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Yep.

I did a research project on USAA in my last semester at A&M, but since I wasn't in the military I didn't expect to ever get insurance from them. It wasn't that long ago that my dad, who did serve, told me I could get insurance with USAA, maybe a decade ago or so. Rates were fantastic, for years, even through Harvey. But then in the last couple of years, I have noticed a skyrocketing of what I'm paying. I've never had a claim, but would estimate my rates have very nearly doubled from what I was initially paying.

I have shopped around, but haven't found anything that would make it worth the hassle of switching.

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I'm curious what USAA company is actually insuring you. You could be insured by "USAA" via one of the companies below. I've made the rounds through USAA, USAA Casualty, and USAA County Mutual. County Mutual had terrible rates. When they moved me back to Casualty my rates got significantly better.

United Services Automobile Association

USAA Casualty Insurance Company

USAA General Indemnity Company

Garrison Property and Casualty Insurance Company

USAA County Mutual Insurance Company

USAA Limited

USAA S. A.

USAA Insurance Agency

NOBLR Reciprocal Exchange

I do wish they'd slow down on the advertising and growth and get back to their core business. Their customer service has been terrible the last few years

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LOL, didn't know there were than many "insurers". How would I find out?

Lake08 said:

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Had usaa for 30 years. Switched to progressive 2 months ago. Usaa's rates are insanely high

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Same thing. USAA insurance since I started driving in 1986; switched to Progressive about 6 months ago and saved like 30%. Still have homeowners but will look at that again soon.

They do not need to spend on advertising to tell Gronk he can't have USAA.

Been with them for 14 years. I do insurance for a living. Coverage costs more because they are a real insurance company that handles claims. Had several claims over the years all taken care of to my satisfaction so far. Property losses have been staggering across all carriers. Insurance is going up boys it is just the way it is. They pay more than you will pay more.

As someone who's sold technology to USAA for almost 10 years, here's my observations:

1/ their hierarchical structure limits their ability to innovate at speed on behalf of their customers.

2/ lack of agility limits their ability to compete. See #1.

3/ they don't execute at speed. Every single thing takes years to deliver. Painful to watch them make decisions.

4/ their data is siloed to the point that it's a complete mess. They don't know their customers anymore.

5/ number 4 led to security issues, huge fines.

I could go on…. Leadership problems. Execution. It's like a dept of government agency …

Rate increases since February:

United Services Automobile Association - 15.8% on homeowners; 8.5% on auto

USAA Casualty Insurance Company - 12.4% on homeowners; 10.6% on auto

USAA General Indemnity Company - 24.1% on homeowners; 9.0% on auto

Garrison Property and Casualty Insurance Company - 17% on homeowners; 9.7% on auto

USAA County Mutual Insurance Company

USAA Limited

USAA S. A.

USAA Insurance Agency

NOBLR Reciprocal Exchange

What do you do?

Cinco Ranch Aggie said:

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It's Garrison Property and Casualty Insurance Company

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IIRC, that's their highest risk pool so rates would not be competitive. USAA/USAA Casualty are the lower risk pools with better rates.

aggiez03 said:

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I am sure that uninsured motorists are not helping those numbers either.

You get in a wreck these days, 50% chance YOUR insurance will be paying even if you are not at fault.

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I have USAA, was involved in being rear ended and the guy sped off. They tried to make me use my at fault deductible. Thankfully I have dash cams F/R and had filed a police report so I was able to use my non-insured motorist coverage deductible. Took months to sort it out with clear video proof.

It'll be on your auto insurance card. Last time I looked, they only had 5 entities insuring under them so their entitles have grown I guess as the risk pool has grown.

Risk tiers used to be something like:

USAA
USAA Causality
USAA County Mutual
USAA General Indemnity
Garrison

Your risk was based on your affiliation so officer, officer dependent, senior nco, nco, enlisted, enlisted dependent, anyone with loose affiliation with the military, then credit, then clue report/driving record

I hope none of you use their financial planners. I have worked with a few of their former ones and they tell some boiler room type stories of quotas on fixed annuity sales. Completely unethical in their sales practices.

txyaloo said:

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It'll be on your auto insurance card. Last time I looked, they only had 5 entities insuring under them so their entitles have grown I guess as the risk pool has grown.

Risk tiers used to be something like:

USAA
USAA Causality
USAA County Mutual
USAA General Indemnity
Garrison

Your risk was based on your affiliation so officer, officer dependent, senior nco, nco, enlisted, enlisted dependent, anyone with loose affiliation with the military, then credit, then clue report/driving record

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Thanks. We are USAA Casualty. How do I get into the USAA category?

buzzardb267 said:

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I have been a member since I went on active duty in 1968. Through the years, I have had folks ask me if they could quote me for insurance, until I tell them I have USAA, then they say, never mind. I watched them expand from commissioned officers, to NCOs and then to enlisted men. I told my wife at the time, this is going to make them like every other insurance company. Take a high school grad, give him a steady income and the first thing he buys is a hot, fancy ride.

For the last decade, at least, I have seen USAA ads ad nauseum! I asked them once what they spent on ads and the only response I got was they did a survey, once, that said some military personnel had never heard of USAA. I find it hard to believe that there can be enough to warrant such expense. I have so many kids and grandkids with USAA it would be difficult for me to change now. I also have my RV and a mobile home with their partners.

I can easily count on two hands the claims I have filed over the years, including the three roofs I have replaced courtesy of living in Texas. Customer service has always been excellent, although they have ceased addressing me as Lt. I guess 50+ years was long enough.

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Sounds like us. My husband was Army ROTC in college, a 1972 graduate from University of Georgia. He was a pharmacist and went to San Antonio after school. He has had USAA all that time and the service has been excellent. We have not had many claims, but my Aggie son had a house fire a couple of years ago. He was very satisfied with their response.

Science Denier said:

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txyaloo said:

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It'll be on your auto insurance card. Last time I looked, they only had 5 entities insuring under them so their entitles have grown I guess as the risk pool has grown.

Risk tiers used to be something like:

USAA
USAA Causality
USAA County Mutual
USAA General Indemnity
Garrison

Your risk was based on your affiliation so officer, officer dependent, senior nco, nco, enlisted, enlisted dependent, anyone with loose affiliation with the military, then credit, then clue report/driving record

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Thanks. We are USAA Casualty. How do I get into the USAA category?

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Be a current or former officer, or a current employee for 5+ years or former employee that retired (not seperated).

Cic is generally best rates outside of those who served.

Not Coach Jimbo said:

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Science Denier said:

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txyaloo said:

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It'll be on your auto insurance card. Last time I looked, they only had 5 entities insuring under them so their entitles have grown I guess as the risk pool has grown.

Risk tiers used to be something like:

USAA
USAA Causality
USAA County Mutual
USAA General Indemnity
Garrison

Your risk was based on your affiliation so officer, officer dependent, senior nco, nco, enlisted, enlisted dependent, anyone with loose affiliation with the military, then credit, then clue report/driving record

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Thanks. We are USAA Casualty. How do I get into the USAA category?

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Be a current or former officer, or a current employee for 5+ years or former employee that retired (not seperated).

Cic is generally best rates outside of those who served.

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thanks.

aggiebrad94 said:

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I hope none of you use their financial planners. I have worked with a few of their former ones and they tell some boiler room type stories of quotas on fixed annuity sales. Completely unethical in their sales practices.

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I have never heard great things about their financial planning services. I could be wrong, but our family chose another CFP with an excellent track record.

txyaloo said:

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It'll be on your auto insurance card. Last time I looked, they only had 5 entities insuring under them so their entitles have grown I guess as the risk pool has grown.

Risk tiers used to be something like:

USAA
USAA Causality
USAA County Mutual
USAA General Indemnity
Garrison

Your risk was based on your affiliation so officer, officer dependent, senior nco, nco, enlisted, enlisted dependent, anyone with loose affiliation with the military, then credit, then clue report/driving record

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I wouldn't necessarily call them "risk" tiers although they essentially become that.

They are actually eligibility tiers. To be a member of usaa you must be eligible. Depending on HOW you are eligible depends on your company placement.

Just so happens that the USAA company placement (predominantly former officers) is the lowest risk... so tomato / tomato.

Something I find interesting is that the additional "companies" within usaa are related to the addition of other eligibility groups. I.e. when enlisted was added to usaa membership, they formed/went to GIC (i believe) . By doing this it allows them to adjust rates accordingly.

The Chicken Ranch said:

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I didn't serve, but my dad did. I have everything with USAA. Always thought of them as being top notch in everything they do.

This is probably a big sign of things to come with other banks and insurance companies.

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Same here, been with them since 1972

Stat Monitor Repairman said:

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How did USAA get popped $140 million for money laundering violations?

HSBC, ok, UBS ok ... but USAA? How are they getting involved with high risk money laundering clientele?

And if not, how do you run up a $140 million tab on compliance violations?

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It's not that they are involved with high risk clients per se, it's that they did not grow their AML (anti money laundering) group/procedures/systems correctly to meet regulations.

Some of this was likely done intentionally, analysts probably decided it would cost more than 140m to get everything where it needed to be by the deadline. From what I recall, USAA knew or "expected" the fine before it happened.

Usaa systems are generally pretty ancient. There has been a big push to update them over the past 3 years.

richardag said:

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The Chicken Ranch said:

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I didn't serve, but my dad did. I have everything with USAA. Always thought of them as being top notch in everything they do.

This is probably a big sign of things to come with other banks and insurance companies.

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Same here, been with them since 1972

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All companies are jacking up the prices, some (especially those in florida) are going under. Many of usaa competitors are offering "new customer discounts" that people don't realize are there.

When those discounts disappear after a policy term or two, they are likely going to be at a similar or higher rate with worse service.

Hanrahan said:

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Yup. All insco rates are insanely high. USAA used to be the outlier. Then they started opening up beyond officer ranks and then extended family and the growth was nice until they realized the risk pool went to hell… now they are as bad as every other insco….

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They are WORSE...

Car insurance rates are still hard to beat, but they wanted a nearly 4X premium on my home insurance compared to other providers (yes, along the Gulf Coast, but still)...

I know longer use USAA for homeowner's insurance...

one safe place said:

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Supply chain woes?

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I know (or think) this was tongue in cheek, but it actually did have a huge impact on the insurance side of things.

USAAs auto ins contract in *most* states has (had) no set dollar or day limitation for rental cars. Repairs took way longer to due to supply chain issues. People ended up with rental cars for significantly longer than usual... and those rental fees were higher than normal too.

Tldr: People are/were literally ending up in rental cars for months for simple repairs.

Usaa will likely be adjusting the contract moving forward limiting days/dollar mounts... but those contract changes can sometimes take years to get through the state insurance departments.

Prior to our house fire we had shopped heavily for homeowners. Challenging because on a ranch and rural. Nobody gave us the price nor the coverage of USAA.
Then we had the fire. Thank God we had not changed from USAA.

Gunny456 said:

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Prior to our house fire we had shopped heavily for homeowners. Challenging because on a ranch and rural. Nobody gave us the price nor the coverage of USAA.
Then we had the fire. Thank God we had not changed from USAA.

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Different experience here…pipe froze and broke during Feb 2021 freeze…like pulling teeth to get them cover things that were supposed to be covered…took nearly 18 months to get the money to complete the repairs…

Worst experience ever and then premium skyrocketed…

Still use them for the cars, but will not go back to them for homeowners…

FireAg said:

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Hanrahan said:

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Yup. All insco rates are insanely high. USAA used to be the outlier. Then they started opening up beyond officer ranks and then extended family and the growth was nice until they realized the risk pool went to hell… now they are as bad as every other insco….

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They are WORSE...

Car insurance rates are still hard to beat, but they wanted a nearly 4X premium on my home insurance compared to other providers (yes, along the Gulf Coast, but still)...

I know longer use USAA for homeowner's insurance...

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Could be contract differences. Usaa home owners contract is very broad and includes replacement cost coverage on roofs (generally high risk in coastal areas).

Also, fwiw, usaa often jacks up rates on business they don't necessarily want. No offense to you specifically, they just don't want the business in high risk coastal areas, wildfire areas etc...

Not Coach Jimbo said:

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FireAg said:

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Hanrahan said:

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Yup. All insco rates are insanely high. USAA used to be the outlier. Then they started opening up beyond officer ranks and then extended family and the growth was nice until they realized the risk pool went to hell… now they are as bad as every other insco….

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They are WORSE...

Car insurance rates are still hard to beat, but they wanted a nearly 4X premium on my home insurance compared to other providers (yes, along the Gulf Coast, but still)...

I know longer use USAA for homeowner's insurance...

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Could be contract differences. Usaa home owners contract is very broad and includes replacement cost coverage on roofs (generally high risk in coastal areas).

Also, fwiw, usaa often jacks up rates on business they don't necessarily want. No offense to you specifically, they just don't want the business in high risk coastal areas, wildfire areas etc...

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Well, it worked on me...I fired them and went with Deerfield...

Our neighbor had Liberty Mutual. He had same problems as you with damage from busted pipes. He just got the claim settled 2 months ago.
It sucks.