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Last updated on Jan 15, 2020

USAA Renters Insurance Review

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USAA

  • Outstanding customer service and overall satisfaction
  • Extensive list of items covered in policy
  • Only applicable military families
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How We Reviewed USAA Renters Insurance

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11 companies compared

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3 features evaluated

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5 ratings analyzed

USAA’s renters insurance is among the best you can get, ranking at the top of just about any list that measures customer service or customer satisfaction. The rub is that it’s only available to members of the armed services and their families. Assuming that you meet this criterion, however, there’s a lot to like about USAA, including best-in-class customer service, wide-ranging coverage for your valuable personal belongings, and much more.

Pros
Cons
Extensive coverage of personal belongings
Excellent customer service
Only available to military service members and their families

The Renters Insurance Factors We Analyzed

Customer experience

In looking at an insurer’s overall customer satisfaction, we look at elements like the initial claims reporting process, repair, estimation time, and fairness of the claim settlement issued, among other factors. J.D. Power’s 2019 property claims satisfaction study also takes all of these factors into account to establish an overall customer satisfaction score for 23 industry providers. Customers rated USAA’s service as nearly perfect across the board, giving the provider a rating of five out of five overall.

In a separate J.D. Power study measuring customer satisfaction with renters insurance, specifically, USAA received perfect five out of five ratings across the board from customers in categories ranging from claims satisfaction to pricing and policy offerings. It should come as no surprise that all of these factors culminated in a perfect five out of five “overall satisfaction” score, indicative of USAA’s place “among the best” in the renters insurance sector.

Along with its customer satisfaction score, we also looked at complaints lodged against USAA’s renters insurance using the NAIC customer complaints database. In 2018, USAA received fewer-than-average complaints in the industry, meaning you’re likely to have a good experience with the company if you qualify for coverage.

USAA Renters Insurance Screen Capture - Fun Little Vector Drawing of Skyline with Apartments

Coverage information

Apart from the standard liability coverage it offers, the hallmark of a USAA renters insurance policy is the sheer amount of property that’s covered. Its website states that items eligible for repairs or replacements in the event of theft include electronics, clothes, silverware, phones, jewelry, bicycles, military equipment, furs (yes, fur coats), hearing aids, and much more. This coverage does not include items that are lost, accidentally damaged, or devalued as a result of wear and tear. Also, deductibles and other policy provisions apply to this coverage.

USAA is also clear about the circumstances under which its coverage applies. In the event of an act of nature, such as an earthquake, flood, or volcanic eruption, or certain man-made causes, such as theft, riot, or vandalism, your belongings are covered. Check out its site for the fine print on these cases.

Deals, discounts, and add-ons

For the most part, USAA’s renters insurance discounts are fairly standard in nature. It includes common offerings like insurance bundling, safety device installation, and claims-free discounts, which become progressively more rewarding the longer you go without making a claim.

USAA Renters Insurance Overview: Financial Strength, Availability, and History

To back up its excellent customer satisfaction scores, USAA earns strong ratings from three of the biggest independent financial strength rating agencies: A.M. Best, Moody’s, and S&P Global. This means that it has the financial strength to pay out on claims, even when many people file claims at once — a reassurance that’s critical when insuring your rental long-term.

  • In business since: 1922
  • S&P Global financial strength rating: AA
  • Moody’s financial strength rating: Aa1
  • A.M. Best financial strength rating: A++
  • States served: 50 plus Washington, D.C.

The Competition

Overall Rank
Reviews.com Score
Customer Experience Score
Financial Strength Score
USAA
1
4.8/5
5/5
4.3/5
State Farm
2
3.8/5
4/5
3/5
American Family
3
3.6/5
4/5
2.3/5
Allstate
4
3.3/5
3/5
4/5
Nationwide
5
3.3/5
3/5
4/5
Farmers
6
3.1/5
3/5
3.3/5

All information accurate as of January 13, 2020.

The Bottom Line

USAA’s renters insurance is regarded among the best in the industry. The list of personal belongings that its standard policy covers is comprehensive, as is the list of circumstances under which those items are protected. The major catch with such an enticing policy is that users only qualify for it if they or their immediate family members are veterans or service members in the military. Assuming this is the case, however, the combination of claims processes, financial stability, and overall customer satisfaction makes USAA renters insurance worthy of inclusion as you begin to gather renters insurance quotes.

USAA Renters Insurance FAQ

How much does renters insurance cost from USAA?

Your premium from USAA is based on a number of individual circumstances. These include the amount of personal property and liability coverage you want to buy, where you live, and which deductible you choose. To see how much renters insurance would cost you, you’ll have to get a quote online or speak to a representative.

What is typically covered under USAA renters insurance?

USAA’s renters insurance provides two types of coverage to renters: liability coverage and personal property coverage. Its liability coverage protects your assets and future income in the event that you are deemed responsible in cases of bodily injury or property damage to another party. Its personal items coverage protects your valuables and replaces them if they are lost, stolen, or damaged in covered cases.

Can you cancel USAA renters insurance?

Yes. All policyholders can cancel their USAA renters insurance whenever they want, though the terms of your cancellation may depend on your state.