USAA opinions. Worth it?

[Swat]

Current PGY-3 medical resident and just found out that I am eligible for USAA due to family in the military. I have yet to compare prices for insurance or any of the other services, but I was wondering what experiences people have had with them in the past?

-How are their auto or homeowner's insurance rates compared to other options?

-What is their service and track record like compared to some of their competitors?

-What other services do you take advantage of other than their insurance offerings?

I've heard really good things about the company overall and since they are nationwide and I'll be moving after residency, that seems promising. I'm ok paying a little more for better service (as long as it isn't too much of a difference) and the ability to not have to recompare rates every 1-2 years. Thanks!

[yandz]

We use USAA...I married into it and switching to my bank apparently wasn't up for discussion, so I switched to USAA ;) 

Insurance: While I had done research for my pre-marital car insurance which was the best rate available while I was looking (State Farm), USAA did save me some when I switched to them (maybe $200/yr? can't quite remember).  Home owner's insurance seemed comparable.  I never had to file a claim with State Farm, so I can't compare service, but my husband has had GREAT service for claims with car insurance - all pics through the app, so really easy.  We also has a major hail storm claim for the home that went as smoothly as that sort of thing can...

Other services we use: we have a checking account with them which is fine. No fees, they refund any ATM fee charges. We recently opened their 2.5% cash back (requires direct deposit into checking, which we do) visa as our main credit card, so am super excited about that.

All in all, we are happy. Worth it? I don't know....I haven't found that much difference in banks, so what would make it worth it is really your call.

[Skills Barterer]

We use USAA...I married into it and switching to my bank apparently wasn't up for discussion, so I switched to USAA ;) 

LOL I did this to my wife! :)

In the past I had USAA everything.  I have begun to diverge when I find cheaper rates.  I found that my home insurance was almost 400 bucks year more with USAA for less coverage.  I did get the best mortgage rate with them, and I used to have an extremely low interest car loan.  Also have checking, IRAs, etc with them.

Overall the service is fantastic.  Great people working there.  I've called them 3 times in my 13 years with them for claims and not once have I had an issue. 

I would say if nothing else, I would open a checking account with them because the refund all ATM fees and everything is free.

[SnackDog]

USAA used to be great but service has dropped off last several years and prices are not that competitive any more.  Geico frequently has better rates.  I have had some pretty rude USAA customer service reps on the telephone.

[slappy]

I recently compared insurance rates and they saved me money over State Farm. Now I just need to follow through and finish up the process with them. I've never had a bad service experience.

[yandz]

I guess I should add - we looked into a mortgage with them and were definitely better off elsewhere.

[neophyte]

I have a checking account, credit card, and my homeowner's insurance with them.  Used to have a renter's policy.  I'm happy with them, I don't think I've ever had a bad experience with a customer service rep.  I don't have a car, so no auto policy and I got a better mortgage rate elsewhere.

[Dee18]

I have my insurance with them: home, car, and umbrella.  Recently, due to what I'd read on MMM, I compared USAA auto insurance prices with State Farm and Geico.  USAA was the best by a couple hundred dollars.  And I love their customer service.  A human answers the phone promptly and everyone I have ever spoken with seems knowledgeable.  Also, in years where claims are lower than expected, they give their customers rebates. 

[I'm a red panda]

USAA used to be great but service has dropped off last several years and prices are not that competitive any more.  Geico frequently has better rates.  I have had some pretty rude USAA customer service reps on the telephone.

10 years ago we used USAA for everything. We have found their competitiveness significantly drop off since then- banking, insurance, investing- we are slowly moving elsewhere.  We still have some insurance with them, but I'm honestly not sure why. We hold onto old banking and investment accounts with them; but everything new is elsewhere.

[TaraB]

I got a USAA banking account a few years back when they had a rare open enrollment. Love them! No fees for checking or to get new checks (especially helpful when you move and lose your stash of checkbooks and then find them again), they refund ATM fees.

I also have a brokerage account with them because they were the lowest fees for the amount I wanted to invest at the time ($10K). I don't love the layout of the brokerage account on the iPhone app, but as long as they let me see my $$ with my fingerprint, I'm happy.

I keep my Wells Fargo accounts open so I can go to local branches to get bank checks when I've bought cars and homes. Before mobile deposit was big, I had to take a check to a UPS store to deposit it to USAA. But after having an account for a few years, I'm pretty sure I mobile deposited the proceeds from selling my first house. If you have a smartphone or tablet for mobile deposit, it's so worth it.

(Last time I checked, I wasn't eligible for insurance since I'm not a veteran.)

[Skills Barterer]

I forgot to add, their website is great.  I have all my credit cards linked to their site and subsequently and I can use it like a free mint.com service with the track money feature.  The have all of your standard budget categories, plus you can add your own. 

[sokoloff]

I'm a 29 years' long happy customer of USAA for auto, home, and banking services. The service has been great overall (minor hiccups over almost 30 years are to be expected, but they've been minor and properly handled by USAA, IMO). They are very competitive in my state on auto (every so often I call one of the ads "we'll save you up to $500 on your car insurance" and everytime I tell the rep I use USAA currently, they basically tell me that they can't help me).

They've also serviced my account well when I was hit by another (insured) at-fault driver whose insurance company was giving me the run-around. I called up USAA after some exasperation and turned the claim over to USAA who paid it very quickly (and very fairly, far more fair than the other company was proposing) minus my deductible, then subrogated the claim against the other driver and a few months later, also sent me a check for the deductible after that successful action.

Two thumbs up.

My parents also use them, but have dropped them for homeowners as USAA is not competitive in their (slightly hurricane prone) state.

USAA General Agency (aircraft, boat, classic car, etc) insurance is just USAA acting as salespeople for other agencies. I have used them in the past, but would recommend you avoid them (and as a mustachian, would recommend you not buy products which could be insured by the General Agency... ;) )

[sisto]

I fairly recently, maybe 2 years ago now, got hooked up with USAA after having several people tell me I'd save money. What I found is that I was getting an awesome bundle deal with Allstate that nobody else could beat. When breaking it out separately I was still doing way better on Auto by staying with Allstate, but I was able to do better with moving home over to USAA. What was even better is that USAA let's me have a $5K deductible instead of $1K with a little better coverage and less than half the cost. I've always figured I would never make a claim for anything less than $5K so for me it's worth it. YMMV

[Cowardly Toaster]

I love USAA for everything. Great customer service with real people on the phone. And great website, perfect for people who do a lot of banking from a smartphone.

[Bimmy]

I use USAA for just about everything. Overall we really like them. We have had them for about 21 years.

They reimburse $15 a month in ATM fees, and I normally max that out each month. My car insurance is quite a bit cheaper than other places I looked at.

However- I would not use them for a mortgage or investing though.

We tried to use them for our mortgage, but they took so long to do everything that we almost lost the house we had under contract. I'm talking WEEKS to get any answers on paperwork we sent them.

We use VTSAX via Vanguard for all our investing. I would not use USAA to invest because they were close to 2% on their mutual fund fees. That's scary high.

Aside from that- everything else is great with them.

[Blatant]

I'm a veteran and have been with USAA for years. I have auto and homeowners bundled, a Visa and my main checking account. Honestly, I think they're overall competitive on rates and I've found the customer service to be quite good. I have had one auto claim and one homeowners claim handled very efficiently.

I wouldn't use them for a mortgage or investments. I've tried them a couple times for new car financing and their rates were not competitive.

[Villanelle]

I've had USAA car insurance since I got my license.  I've found their costumer service to be absolutely top notch, even recently.  I was in a one car accident when we lived in Germany, and I was pretty rattled, and also upset and overwhelmed and embarrassed, and I was expecting an insurance nightmare.  They were so easy to deal with that I literally cried in relief when I hung up the phone.  (As I said, i was pretty rattled and emotional.)

We have homeowners (actually it's called something else since we no longer live in the home and it is now a rental), car, and a few other insurance products with them.  I haven't compared prices in years, but I'm incredibly happy with the service so it would have to be a pretty significant difference to get me to switch.  Also, our situation is weird (insuring a car shipped to Germany, insuring a car that is in storage, etc.) and those are situations many other insurers either won't touch or charge an arm and a leg for and then still don't really know how to handle.  But since they are semi-common among military members, it's business as usual for USAA.

We had a mortgage with them in 2001.  At the time the rate was super competitive.  Haven't shopped recently to know.  We do still have a great HELOC with them, with wonderful terms.  This was taken out in maybe 2007.

We have a few investments with them.  And a checking account and credit cards. 

[respond2u]

Like others, I've only used USAA for car insurance. I've found their customer service to be excellent and processing claims to be fast and congenial. I wouldn't hesitate to pay some more to use them. They also give a number of discounts for various things to make their rates lower.

My home owners is through Amica, I can't remember why. I think they were ranked #1 by Consumer Reports when I bought a house. Because of the longevity bonuses, it'll cost too much to consolidate now. (They've been awesome as well).

[andystkilda]

No insurance, just banking/credit cards.
Can't speak highly enough about them. No issues whatsoever. Super-friendly staff and always available.

[Loren Ver]

I've been with USAA for 17 years.  Always liked them, but in 2016 -2017 had some great experiences during bad times. 
I have mortgage, banking, auto and home insurance through them.  They are not the cheapest, but very competitive. 

The reps are the best!  You call all stressed out because someone just destroyed your two parked cars at 2am on a Tuesday and they walk you through the process and make sure you are okay.   

I also had a claim for multiple break-ins and since I had all my information together
(had given it to the police previously) the rep was able to have the money in my account before I even hung up the phone.  Even combined the events so I paid one deductible. 

They always catch credit card fraud fast!  I travel internationally and they make things easy.  Not the best conversion rates, but I wont leave them for anyone else.  They deal with military a lot so boarder crossings don't freak them out. 

The website is really really good and easy to use.  When I learned to drive a stick I changed up my insurance coverage in case I hot someone.  Then when I got good, lowered it.  Then raised it while DH was learning.  So easy!  And I know what I pay for each part.

The investment part of the website is not great.  I have some investing with them, but the funds are just not what I need for me. 

[justaguy]

I recently joined USAA for the USAA Limitless Cashback Rewards credit card.  It is great – 2.5% cash back on every purchase and no foreign transaction fees (I travel a bit).  I use other higher rewards credit cards for food, gas, etc.. that have higher rewards but for that ‘other’ category (utility bills, cell phone, doctor appointments), we use it.  Great customer service as well! 

[cadillacmike]

USAA used to be great but service has dropped off last several years and prices are not that competitive any more.  Geico frequently has better rates.  I have had some pretty rude USAA customer service reps on the telephone.

That's unusual - but not unheard of.

I've been with USAA for over 30 years. Started when I was an officer cadet. They're not perfect and their homeowners policies are getting outrageously expensive, but since I live in FL, I don't have much of a choice, most carriers, including USAA will not write new policies in FL. I do have to talk with them about the homeowners cost though.

USAA is a Reciprocative mutual exchange, meaning that it is member owned.

As a Full member I get dividends and a SSA distribution every year, which is something almost no other company can offer.

[Bliss]

I've been with them for about 20 years and currently use them for Auto, Renters, Rental Property, VPP and Umbrella. This is the only large company where I can get a live human on the phone very quickly and am almost never transferred to a different agent or department. The reps are trained very well to deal with a wide variety of issues.

Several years ago I had a $80k homeowner's claim. The process was very easy and I felt that I was well taken care of by the adjuster.

[hyla]

I have them for banking and car insurance and am happy with them. 
The things I like are:
 - Because they do not have physical locations, they reimburse ATM fees anywhere, and have a very easy to use banking website and mobile app.  I can deposit checks by taking a photo on my phone ( they also have a mail in deposit system if phone apps aren't your thing).  I move a lot for my job, so it's really nice that I can deal with banking anywhere and I don't need to worry about finding a branch nearby

- The one time I had a major claim on my car insurance (my car was hit by an uninsured driver and totalled) they handled it well and quickly

- They don't push irresponsible financial products.  The other banks I have credit cards with occasionally send me absurd marketing emails trying to push credit line increases and loans for christmas shopping. When USAA does email me an ad, it's generally for something really boring and responsible like homeowner's insurance. 

What's not so great
-There are banks with better interest rates on checking and savings. This isn't a dealbreaker for me, because I like their banking services otherwise, and the only money I keep in a savings account anyway is my emergency fund.

-Also, don't buy mutual funds from USAA, Vanguard has lower fees.

[Heroes821]

I probably change insurance every year or so, it's a game that all the agencies play really.  The best rates only happen when you hop. 

That being said USAA as a bank is amazing.  Since they lack physical buildings outside of San Antonio (and technically one in Colorado springs) they are fully invested in the digital age of banking.  Every ATM in the country will reimburse your fees through them and they are very easy to work with over the phone.  You can send money with a few click on the app to friends and family, and mobile deposit checks very simply.  On their website you can also link bank and investment accounts similar to Mint or Personal Capital it is pretty darn handy.

I always recommend moving your banking to them, unless you have one of those 1-2% interest savings accounts online. Insurance though is hit or miss. They currently have my house and cars because they were cheaper but in a year or so that will probably change.