Our verdict: USAA is a perfect choice for active and former military personnel. It has a stellar customer support and related high ratings. Although the discount options are limited, they present excellent ways to save on yearly premiums.
USAA home insurance can help you get back on your feet if something happens to your property and valuables. According to the National Association of Insurance Commissioners, it is also the fifth-largest auto insurance company in the US.
USAA’s insurance policies are available only to military members, veterans, and their families. On the other hand, it provides additional services, such as banking and investment assistance, anyone can benefit from.
The company is praised for its impeccable customer service and affordable prices. If you’re military personnel, take a look at our review to decide whether USAA fulfills your insurance needs.
USAA Home Insurance Pros and Cons
To help you determine if USAA presents a good choice for you and fulfills your expectations, here is a list of its main advantages and disadvantages.
Pros
- High customer satisfaction rates
- Low number of complaints
- Banking and investing products
- Competitive rates
- Assistance with rental searches
- Good discount options
Cons
- Available only to military personnel and their families
- Mobile app lags
USAA Homeowners Insurance Product Overview
USAA helps protect your family, property, and valuable belongings. Depending on your coverage, it can include identity theft and personal liability features.
With USAA, your policy can feature damage on the dwelling and other separate structures, earthquake-related expenses, and loss of use. The personal belongings coverage replaces or repairs property items in case of an accident.
You’ll be able to customize your policies, qualify for discounts to lower your USAA home insurance premium, or opt-in for additional products, such as farm and ranch coverage or flood protection.
Features
Here are the essential features of the property policies offered by USAA.
Homeowners
The basic policy for homeowners insurance covers you from:
- Theft
- Fire
- Vandalism
- Most weather-related events
- Liability
- ID theft
Identity theft protection is automatically included in the policy in the states where it is available. It covers up to $5,000 in expenses related to the incident.
The USAA house insurance also provides coverage for the cost of repairing or rebuilding your home. It also replaces personal property items that were destroyed in the catastrophe.
If you are unable to stay in your home, USAA will cover your living expenses. Personal liability protects you in the event of accidental injury or damage to the property of others.
Your other structures like detached garages or fences will also be included in the policy, and you might automatically receive USAA earthquake insurance.
Another great feature of homeowners insurance is the Home Sharing Coverage. With it, you and your guests will remain protected if you’re renting your entire home or a room.
Valuable Personal Property
This option covers personal items that are worth $100 or more. By adding this feature to your standard insurance, you can secure your jewelry, guns, cameras, musical instruments, and other valuables. This policy comes without deductibles and includes loss or damage.
However, you may need USAA home insurance coverage or another policy to be eligible for VPP in some states. The company provides this option worldwide.
Condo
Your condo association usually handles the insurance of the exterior, shared items, and certain parts of individual units in the condominium. All personal belongings and liability should be protected with individual homeowners insurance.
You might need additional coverage, such as VPP, liability, or for the interior of your unit. But before applying for USAA hazard insurance, check the master policy to know what you need additionally.
Rental Property Insurance
If you own another property, a rental insurance policy might be a wise decision. It ensures you receive reimbursement for lost rental income while your home is undergoing repairs after an accident.
It provides personal liability coverage for damage or injury sustained on your property and comes with a home-sharing feature. USAA landlord insurance also helps you screen tenants. Its Smart Move Screening package will let you run a background check to make sure you’re renting your home to a reliable person.
The Umbrella insurance can protect you if you’re being sued for your assets, savings, investments, and more. It also helps you pay legal fees and can cover up to ten properties with USAA vacant home insurance.
Mobile Home
This insurance is specialized for dwellings built on metal frames and delivered in pieces. For this option, you’ll be connected to Foremost, and it will likely offer you coverage for physical damage to your house and surrounding structures, personal belongings, and liability.
In case your home becomes uninhabitable, this policy will help cover rent or hotel expenses. If you need more, USAA mobile home insurance covers debris removal, credit card and check forgery, food spoilage, etc. Depending on the type of your home, you might enjoy some additional features.
Flood
Floods are among the most frequent natural disasters in the US. You might need flood insurance even if you live in a low-risk area. With USAA, this policy is sold separately, and you can add it regardless of your insurance plan. However, there’s a 30-day waiting period before the USAA flood insurance policy becomes effective.
Wildfire Defence Systems
Wildfires are a common issue across the US, and keeping your home safe in high-risk areas can be challenging. Luckily, USAA offers an extra layer of protection with the assistance of The Wildfire Defence Systems.
WDS is an association of experienced and certified firefighters that will take active measures to protect your home in case of fire. Its fleets are available in 15 states, and you might be eligible for USAA fire insurance together with your home policy.
Condos, cooperatives, apartments, and mobile homes don’t qualify for WDS.
Farm and Ranch
Another excellent USAA product is home and ranch insurance, and it covers:
- Hobby farms
- Estate farms
- Grain growers and ranchers
- Equine operations
- Orchards and vineyards
- Equipment
The policy includes property coverage for dwellings and structures, household furnishings, farm equipment, and liability coverage for injuries or damage to others. For the USAA farm property insurance, the company is cooperating with Travelers, so you can enjoy the best service.
This policy would be helpful if you lease or rent your farm property. Even if you only have a few chickens and a cow, this insurance would cover anything that goes wrong. As every ranch operation is different, we advise you to reach out to a USAA representative and discuss your premium.
USAA Mobile App
You can manage your USAA homeowners insurance policy via a mobile app available for iOS and Android users. It can help you manage your finances, investment, and policies. It’s a secure app that uses your fingerprint-recognition login. The digital assistant, EVA, answers the most common questions.
While it’s ranked highly, the latest reviews show that it’s not working properly. Customers face difficulties activating the app, and sometimes only the balance review function works.
Financial Strength
USAA homeowners insurance received the highest rating from A.M. Best (A++) and excellent reviews from Moody and S&P for its financial strength. Fortune 500 ranked it among the top 200 companies, and J.D. Power gave it an 889/1000 score for 2020.
USAA has nearly a century of experience in providing insurance services. It is economically stable and serves a large customer base. Unfortunately, it’s not a BBB accredited company. While its insurance policies are exclusively for military personnel, you might still be able to enjoy some of its other services like investment products or checking and savings accounts.
USAA Home Insurance Customer Service
When it comes to customer service, USAA has high ratings. The company has experience in working with military families, which sets it apart from the competition.
While the majority of customers are satisfied, there have been some instances of disappointment with the services. Still, according to the reviews, the process of filing a claim is easy and quick.
USAA will send an adjuster to your home, and the payment will be in your account in the next 24 hours. Item repair and loss of use are also handled swiftly. USAA home insurance consumer experience is good, and people tend to stay with the company for long periods.
- Consumer Affairs – 4/5
- NerdWallet – 4.5/5
- WalletHub – 3.6/5
- ValuePenguin – 90%
Insurance Cost
If you’re interested in getting an offer from USAA, you can always fill out an online form or reach out to the customer service department and consult with an agent directly. However, to receive a USAA home insurance quote, you’ll have to be a member.
The home insurance premium depends on many factors, such as location and construction materials. While we can’t give you a definitive annual insurance cost, analyses show the average is about $1,650, but it can go up to $1,800.
While that is slightly lower than the national average, it is higher than the average rates of its largest competitors — Allstate and State Farm. Still, you should consult USAA for a personalized quote.
USAA Home Insurance Discounts
USAA offers a couple of great discounts that can help you reduce your premium.
Bundle
If you decide to purchase property together with auto insurance, you’ll be eligible for 10% off your premiums. Know that your car policy needs to be active to qualify.
As for car insurance, it’s worth noting other discounts for annual mileage, new vehicle, and family.
Claim-free
If you’re a USAA member for five or more years, and you have a home, renters, or condo insurance and filed no claims, you’ll be eligible for 10% off. However, it may not be available in some locations.
USAA Home Insurance Rates Comparison
Your home insurance price depends on your location, home quality, and many other factors. Let’s see how the rates of USAA relate to other companies.
GEICO vs. USAA
GEICO provides home insurance from third-parties. That is why you won’t know which insurer offers you the service, and you can’t select a preferred company. To get a precise offer from GEICO, you’ll have to ask for a quote. You can also bundle your home policy with auto insurance to get a discount.
USAA is among the oldest and largest home insurers in the US. Its property policies may sometimes include add-ons from other providers. Still, USAA home insurance reviews show its prices are slightly lower than the national average. Discounts are also available and can save you a decent amount of money.
Allstate vs. USAA
Allstate home insurance is available in all 50 states, and its prices differ based on location. Generally, its monthly premiums are more expensive than USAA’s.
However, Allstate is a more affordable option in North Carolina, while USAA has the lowest rates in Maine. The most costly state for Allstate insurance is Michigan, and the average USAA home insurance quote is the highest in New York.
Allstate also has an excellent variety of available discounts, which can drastically lower your premiums, while USAA has fewer options.
Overall Competition Comparison
Many home insurance companies are on the market, and each offers different combinations of policies to help you secure your home. These are some of the popular competitors that you might consider.
Allstate vs. USAA Home Insurance
Allstate is available in all 50 states and Washington DC. It has a lot of experience and provides diversified insurance policies. The company has a low number of customer complaints, and some of its services are rated with A+ by A. M. Best. You’ll get many chances to save with Allstate due to its numerous discount offers.
USAA offers its insurance services only to active military members, veterans, and their families. Many of its policies include additional coverage that otherwise might cost extra with another company. Based on J.D. Power’s 2020 Home Insurance Study, USAA has a high rating of 889/1,000, meaning it has the best customer support. Both Allstate and USAA are financially strong companies.
Liberty Mutual vs. USAA Home Insurance
Liberty Mutual is the third-largest insurance provider in the US, offering national coverage and plenty of discounts. Its services are also available in 29 other countries with over 45,000 employees worldwide. Its financial strength ratings from A.M. Best and S&P are A.
You can reach Liberty Mutual’s representatives in numerous ways, and they’re available 24/7. Yet, it has a higher-than-average number of customer complaints. Online quotes might not be available in some cases, so you’ll have to contact its agents.
Based on multiple customer and expert reviews, USAA might be a better pick than Liberty Mutual.
State Farm vs. USAA Home Insurance
State Farm homeowners insurance has excellent scores for its performance. It’s ranked A++ by A.M. Best and AA by S&P Global Ratings. State Farm has few customer complaints and above-average homeowners insurance satisfaction ratings.
State Farm home insurance coverage includes standard policies and additional features options to help you better secure your property and surrounding structures. It has a network of 19,000 agents available for inquiries. Both companies offer excellent services, so it would be up to your preferences or member eligibility to choose.
Expert Thoughts
Perhaps the biggest drawback of USAA home insurance is that it is available only to active or former military employees and their families. On the other hand, since USAA is also a financial center, you might be able to enjoy other services if you’re not related to the army.
When it comes to home insurance, USAA provides a reliable service at a reasonable price. The number of discounts is limited, but if you’re eligible, you’ll save a good amount of money.
The company is ranked A++ by A.M. Best for financial strength and is among the top 200 companies from the Fortune 500 list. USAA is an excellent option to consider if you’re a military member or a veteran.
People Also Ask
USAA has almost a century of experience in providing home and other insurance policies to its users. It prides itself on excellent customer service and the fact that it’s insuring military and former military employees and their families.
USAA’s services are available in all 50 states. It offers competitive rates, and the home insurance policies protect against multiple perils. USAA also covers the entire cost of your home in case it gets destroyed or damaged. That is why USAA is definitely worth checking out.
USAA is among the cheaper options for home insurance. While we can’t name the exact annual price, it is generally slightly below the national average. You might also be eligible for some discounts, depending on the policies you select.
Like with any other home insurer, the cost depends on the state you’re in, your claims history, credit score, coverage amount, and home value. If you decide to secure your home against specific perils or burglary, chances are you’ll be able to lower your premiums.
When it comes to the USAA homeowners policy, many factors affect its price. According to some reviews, this insurer provides very affordable insurance that’s lower than the national average, while others claim it’s in the mid-range, based on the state you’re in.
That is why you should discuss your premium directly with USAA. The highly skilled representatives will explain every detail, tell you all about the available discounts, and help you select the best policy or bundle for you.
USAA has been on the market since 1922. It was founded by 25 Army officers when they decided to secure each other’s vehicles. It has served military personnel and their families ever since. Today, only active former army employees are eligible for USAA insurance policies.
However, since USAA is not just an insurer but a financial center, you might be able to use some of its services if you’re not in the military. Check out its banking, investment, and retirement features to learn more.
The standard homeowners insurance at USAA keeps you protected from fire, theft, vandalism, most weather-related perils, and liability. It further offers dwelling coverage, repair or replacement of personal belongings, earthquake coverage, etc.
Additional policies you can select are flood and valuable personal property coverages. If you’re an active service member, USAA will also cover your uniforms under certain conditions. Bundle and similar discounts provide ways to lower your premium.
Army members founded USAA with the idea to insure their vehicles. Today, the company’s insurance policies are open to active, retired, and separated veterans, as well as the honorably discharged ones.
Eligible family members are spouses, widows, widowers, or unmarried former spouses who joined USAA during the marriage. Members can also pass eligibility to children and step-children. That also applies to children of deceased members. On the other hand, USAA home insurance eligibility can’t be transferred to parents or siblings.