USAA Homeowners Insurance Review
USAA homeowners insurance is a great option for military service members and their families. USAA is available in all 50 states and is known for its stellar customer service and high customer satisfaction rates. USAA also offers competitive and affordable rates, and its home insurance policies protect homeowners against everything from natural disasters to break-ins.
Unlike some other home insurance providers, USAA covers the complete cost of replacing your home if it’s damaged or destroyed. Unfortunately, USAA is only available to members of the armed forces and their families, so customers who aren’t service members won’t qualify.
The Home Insurance Factors We Analyzed
The average annual premiums for USAA homeowners insurance are low, but your premium may vary depending on a variety of factors, including location, weather, and the size of your home. Not all of these factors are within your control. For instance, if you live in an area with above-average chances of natural disasters, such as wildfires or earthquakes, you may end up paying more for your insurance premiums. Similarly, old houses often come with higher homeowners insurance premiums, since older homes are more likely to break down and are more expensive to repair.
USAA is perhaps best known for its excellent customer service. USAA is highly rated by J.D. Power for overall customer satisfaction and is one of the best in the industry when it comes to happy customers. While USAA does receive some complaints according to the National Association of Insurance Commissioners, in general, it receives fewer than other insurance providers. If you’re interested in a home insurance policy from USAA, you can fill out a quick application on its website to get a quote.
USAA offers comprehensive coverage of fire, theft, vandalism, most weather-related events, and liability. A homeowners insurance policy also covers up to $5,000 in identity theft coverage. USAA policies include dwelling coverage, which includes the cost of repairing or rebuilding your home after a qualifying event. Home insurance also covers personal belongings, loss of use, and personal liability.
In addition to your home, USAA policies also cover separate structures such as garages, sheds, fences, and driveways. If you’re not sure what your assets are or what should be covered by your home insurance policy, it’s a good idea to work with an agent in order to determine your assets and to make sure that they’re adequately protected.
Deals, discounts, and add-ons
USAA has a few discounts when it comes to home insurance. Customers can save up to 10% on their home insurance premiums if they also purchase a car insurance policy from USAA. In addition, customers who have filed no claims for five or more years also get 10% off.
USAA Homeowners Insurance Overview: Financial Strength, Availability, and History
USAA was founded in 1922 by a group of Army officers. Since then, the organization has grown to cover military members all around the country. The company is ranked as the sixth most popular insurance brand and its products and services are available in all 50 states. The company has received extremely high financial health ratings and is a secure, established organization with close to 100 years in business.
- In business since: 1922
- S&P Financial Strength Rating: AA+
- Moody’s Financial Strength Rating: Aaa
- AM Best Financial Strength Rating: A++
- States served: 50
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All information accurate as of May 20, 2020.
How We Evaluated USAA Homeowners Insurance
Factors evaluated include the providers financial strength as indicated by organizations such as AM Best and Standard & Poors, customer service ratings and support, as well as average premiums.
The Bottom Line
If you’re a member of the armed services or part of their family, USAA is a great choice for homeowners insurance and more. Members have access to competitive rates and great customer service, and can rest assured that their property is protected in the case of an unexpected disaster. USAA is available in all 50 states, so customers are eligible regardless of location.
USAA does offer a few deals and discounts when it comes to home insurance, including a bundle-and-save option if you also purchase auto insurance from USAA, and an additional 10% discount if you’re a claim-free customer for five or more years. Unfortunately, USAA isn’t available to members of the general public who are not relatives of service members.
USAA Homeowners Insurance FAQ
USAA offers insurance for homes, condos, rental properties, farms, and ranches. In addition, it also offers renters insurance.
How much home insurance you need depends on your specific situation. In general, it’s a good idea to choose the coverage that protects the entire value of your home in case of damage or property loss. How much coverage you need also depends on where you live, how big your home is, and how old it is, among other factors.
USAA is available in all 50 states.
USAA underwrites its home insurance policies itself.
Homeowners insurance with USAA covers fire, theft, vandalism, most weather-related events, and liability, as well as up to $5,000 in identity theft coverage.