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I dropped my car insurance a few years ago, Geico gave me identical coverage for exactly half the cost, and both myself and my wife have clean driving records. I use them for checking, I’ll be dropping my renters insurance next month as I have bought a house, they wanted $3500 a year for home owners insurance on the Florida  gulf coast, I had a local company give me better coverage for $1500. 

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11 minutes ago, viper154 said:

I dropped my car insurance a few years ago, Geico gave me identical coverage for exactly half the cost, and both myself and my wife have clean driving records. I use them for checking, I’ll be dropping my renters insurance next month as I have bought a house, they wanted $3500 a year for home owners insurance on the Florida  gulf coast, I had a local company give me better coverage for $1500. 

Same here.  USAA is outrageous in FL and they said it’s because of the hurricanes and the once a year free windshield replacement (if cracked).   

I’ve kept checking, credit card, savings and investments with them and honestly, other than checking, it’s because I’m too lazy to try to switch.  

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2 hours ago, viper154 said:

I dropped my car insurance a few years ago, Geico gave me identical coverage for exactly half the cost, and both myself and my wife have clean driving records. I use them for checking, I’ll be dropping my renters insurance next month as I have bought a house, they wanted $3500 a year for home owners insurance on the Florida  gulf coast, I had a local company give me better coverage for $1500. 

Having just lost nearly everything in hurricane Michael... here’s a few tips for Florida gulf coast homeowners insurance (sidebar):

- You are likely underinsured. Rebuilding a house is $150/Sq ft at a minimum. 

- You are definitely underinsured in additional structures. 

- Opt in for 50% law and ordinance coverage. The standard is 25% if you do nothing. This extra pot of money will save your ass in several situations.  It’s cheap.

- Get replacement cost coverage (not actual cash value) for your personal property.  It’s a bit more expensive than the L&O bump up to 50%, but worth it.

- Read the text of your actual policy...and keep up with year to year changes to it. Pay particular attention to named storm exclusions.  You can get different underwriting, riders, separate policies, etc. to fill the holes you find.

- When the disaster happens, and it will, step 1 is read your policy again in detail.

Welcome to redneck paradise!  Stay off my fishing spots.

 

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Just switched banking from USAA to Navy Federal after having USAA for 17 years. After my short interactions with Navy Federal, I'm already impressed. Also, veteran's who have a VA direct deposit qualify for the military checking account, which includes up to $20 per month ATM fee reimbursement. 

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First Command still exists, I bank with them and they extended us two full paychecks during the gov shutdown, when USAA comparatively did not for my coworkers.  Yeah, we got savings, but I was still working every day and having some funds available and not just raiding the emergency fund was nice (especially when the emergency is fucking ridiculous in the first place).

We insure with USAA, one place where they really shone with us was moving HHGs from Hawaii, nobody else would.  I've also heard they're good for financing overseas direct vehicle purchases, most banks are leery of extending funds for a vehicle whose VIN doesn't exist yet at the time of purchase.

But yeah, I definitely agree, USAA has gone way way downhill.  They were next to useless for our VA home buying experience - they call you 'pre-qualified' and won't run any actual numbers until after you've made an offer and have it accepted, leaving the potential to lose earnest money if there are any snags.  Navy Fed was way better!

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Maybe they’ve reformed since...

My experience with First Command was them giving us their pitch as we started UPT.  As I looked at their numbers, it was clear that they were only interested in soaking as many butter bars sitting with me in the room as possible.  Compared to the vast selection of investment vehicles available in the world, the rates of commission and expense ratios that they were charging, amounted to a loan shark diversifying into the whole life insurance sector.  Suddenly their uncanny ability to attract the talents of so many retired senior officers made a lot of sense.

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  • 3 months later...

So my family is at WPAFB and we took a decent amount of tornado damage with the Memorial Day storms. Renter's insurance is with USAA. I was pleasantly surprised with their service. I submitted a claim the day after the event. They responded and sent me a payment for spoiled food within 10 minutes of our conversation. They told me to send them a list of all personal property effected. The adjuster called me 30 minutes after I submitted the list asking if it was pre or post tax. It was pre-tax so he added another 8% or so. I received that payment within 24 hours. Overall, I was impressed with the service received.

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We dropped USAA insurance last year.  My wife was in a car accident that was deemed by USAA as not her fault.  She was however injured and eventually required surgery.  We carried $250k in medical insurance as our state is a no-fault state.  USAA uses a third party vendor to handle their medical cases.  They eventually denied the visit to the ER and refused to pay because "we didn't get prior approval" which based on everything else takes 5-7 business days.  Then they proceeded to deny all care saying my wife was making it up, never injured, and had a psychological disorder making her think she was hurt...no joke.  Eventually they went as far to say she was never even in a car accident.  Needless to say we no longer have anything with USAA and when I called to cancel the insurance the individual told me he understood and that it wasn't the first time he had heard that before.  Now we are well over a year past the accident and our lawyer is working the lawsuit against USAA because apparently that is what it takes to get USAA to pay out the policy I paid the premiums for all along.

 

They like to talk a big game but should you actually ever need what you pay for...good luck.

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On 6/3/2019 at 10:52 AM, Bojangles said:

So my family is at WPAFB and we took a decent amount of tornado damage with the Memorial Day storms. Renter's insurance is with USAA. I was pleasantly surprised with their service. I submitted a claim the day after the event. They responded and sent me a payment for spoiled food within 10 minutes of our conversation. They told me to send them a list of all personal property effected. The adjuster called me 30 minutes after I submitted the list asking if it was pre or post tax. It was pre-tax so he added another 8% or so. I received that payment within 24 hours. Overall, I was impressed with the service received.

That's awesome. And sorry to hear about the storms. I grew up near Dayton and my parents took a good deal of damage as well. Hope you recover everything successfully. 

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On 6/3/2019 at 6:47 PM, Sneedro said:

We dropped USAA insurance last year.  My wife was in a car accident that was deemed by USAA as not her fault.  She was however injured and eventually required surgery.  We carried $250k in medical insurance as our state is a no-fault state.  USAA uses a third party vendor to handle their medical cases.  They eventually denied the visit to the ER and refused to pay because "we didn't get prior approval" which based on everything else takes 5-7 business days.  Then they proceeded to deny all care saying my wife was making it up, never injured, and had a psychological disorder making her think she was hurt...no joke.  Eventually they went as far to say she was never even in a car accident.  Needless to say we no longer have anything with USAA and when I called to cancel the insurance the individual told me he understood and that it wasn't the first time he had heard that before.  Now we are well over a year past the accident and our lawyer is working the lawsuit against USAA because apparently that is what it takes to get USAA to pay out the policy I paid the premiums for all along.

 

They like to talk a big game but should you actually ever need what you pay for...good luck.

Quick question for your situation: if you have health insurance through your employer (USAF, airline, etc), did you also carry medical coverage on your auto insurance?  Does your state require medical insurance?  Did your employer insurance step in at all?  Lots of variables to each persons situation, so I'm mostly just curious.  I've always refused medical coverages for my auto insurance because we have Tricare and curious now if there's something I'm not considering.  Sorry for the goat rope, that blows.  I've noticed a dip in USAA's service as well, pretty much across the board.  Still better than most banks imo (WF, BoA, etc), but not like it used to be.

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13 hours ago, otsap said:

Quick question for your situation: if you have health insurance through your employer (USAF, airline, etc), did you also carry medical coverage on your auto insurance?  Does your state require medical insurance?  Did your employer insurance step in at all?  Lots of variables to each persons situation, so I'm mostly just curious.  I've always refused medical coverages for my auto insurance because we have Tricare and curious now if there's something I'm not considering.  Sorry for the goat rope, that blows.  I've noticed a dip in USAA's service as well, pretty much across the board.  Still better than most banks imo (WF, BoA, etc), but not like it used to be.

My state requires auto insurance to cover you in an accident so you cannot use personal insurance.  It was a major PITA because finding medical places aside from an ER was very difficult.  As soon as we said "car accident" we would get the sorry can't help you we don't deal with car accidents.  Speaking to our primary care doctor he said it's like that because car insurance companies are such a nightmare to deal with that most places just refuse to.  My employer insurance has not stepped in yet and covered anything.  Apparently there are some steps maybe for that to happen though I am not exactly sure what yet...  Our lawyer has basically handled all care and will deal with the money side after the lawsuit.  A no-fault state is terrible if you are injured in a car accident and USAA has be beyond atrocious.

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  • 9 months later...

So now USAA is getting out of the investment business.  I received notification that all of my investment accounts have been switched to Schwab and Victory Capital.  The whole reason I started a Roth IRA and some college IRAs is so that they’re all consolidated.  I guess that’s not the case anymore.  

No more investments, high insurance rates and high loan rates; USAA is really starting to suck!

Edited by Tank
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6 minutes ago, Tank said:

So now USAA is getting out of the investment business.  I received notification they all of my investment accounts have been switched to Schwab and Victory Capital.  The whole reason I started a Roth IRA and some college IRAs is so that they’re all consolidated.  I guess that’s not the case anymore.  

No more investments, high insurance rates and high loan rates; USAA is really starting to suck!

Truth!

I really should get off my ass and transfer everything to Vanguard, folks seem to have good things to say about that company.

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27 minutes ago, Tank said:

So now USAA is getting out of the investment business.  I received notification they all of my investment accounts have been switched to Schwab and Victory Capital.  The whole reason I started a Roth IRA and some college IRAs is so that they’re all consolidated.  I guess that’s not the case anymore.  

No more investments, high insurance rates and high loan rates; USAA is really starting to suck!

I have an amount of deposts with USAA. If a multi-billion dollar company with trained and educated investment managers decides that its investment branch is not worth the risk exposure, I for one, am happy that my deposits are safer. I understand the convenience, but I believe it's smarter to diversify your deposits, loans, investments, and insurance across separate companies.

I don't want passive investors telling the active investors at my bank how and when they should be investing, especially in times like these. USAA is better off focusing on it's core business - being a bank.

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I’ve had nothing but good things to say about Vanguard for all my investments. I moved everything from USAA about 4-5 years ago based on Vanguard’s low fee scheme compared to USAA. Highly recommend vanguard. 

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27 minutes ago, Kenny Powers said:

Is USAA not the go to insurannce company anymore? Ha e others here found better rates with another company?

To be honest, I havent shopped rates in probably 15 years.

I found way better rates on homeowners, but partly because I needed flood insurance and USAA only offers FEMA.

They also force you into "replacement cost" vs "appraisal value" for homes.  Which was a substantial delta for my house built in 1961.

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46 minutes ago, Kenny Powers said:

Is USAA not the go to insurannce company anymore? Ha e others here found better rates with another company?

To be honest, I havent shopped rates in probably 15 years.

We’ve switched to Geico on our auto insurance and a local agent for homeowners.  
USAA is not competitive at all for rates anymore, it’s pretty unfortunate really.  

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USAA's business model shifted from quality to quantity about 20-25 years ago...

And Schwab bought out USAA's investment and brokerage accounts back in July for $1.8B in cash!   I wonder if Obama was involved!  :clown:

https://www.cnbc.com/2019/07/26/charles-schwab-to-buy-usaa-assets-in-1point8-billion-deal.html

Just to put that in context, this is what $1.8B in cash looks like...

The DEA seized 1.8 billion dollars from Tijuana Cartel - Channel ...

 But that pic is from a DEA seizure of Tijuana Cartel assets!  :pig:

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3 hours ago, disgruntledemployee said:

Ha!  Must be what's financing the airline grants.

WRT homeowners/car insurance, who out there is doing good service and value?  My car rates just went vertical.

Out

So I'm paying ~$330/mo. for full coverage on 2 cars (pretty new, nothing exotic) and homeowners insurance on a $350k home.

I was previously paying ~ $180/mo before the move but the old home value was around $280k.

Does that check or are you guys seeing way better rates? Good driving records with no accidents/tickets in the past 15 years or so and great credit.

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