USAA Insurance

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Company History

In 1922, 25 army officers came together to insure one another’s vehicles, in the process founding USAA. The company’s first insurance policy was underwritten to Major Walter Moore for $114.74. Throughout the 1920s, the Great Depression of the 1930s and the following decades, USAA continued to grow.

Since its founding, USAA has expanded its insurance offerings to all current and former members of the United States’ Armed Forces and their families. Today, USAA serves more than 10.3 million members and is:

Ranked among the Fortune 500
Consistently one of Fortune’s “Best Companies to Work For”
Highly rated by A.M. Best Company, Moody’s Investor Service, Standard & Poor’s and Wards 50 for its financial stability
Regularly receives awards for excellent customer satisfaction

Product Offerings

USAA Insurance offers a host of products and services. Members enjoy access to retirement planning and real estate advice, and they can set up investment accounts or procure mortgages through the company. USAA also offers checking and savings accounts, credit cards, loans, and certificates of deposit (CDs) available for members.

In addition to its financial services and products, USAA provides members with a variety of insurance products. Specific offerings vary from state to state, but some of the company’s insurance products include:

Auto insurance
Motorcycle, boat and RV insurance
Renters insurance
Rental property insurance
Life insurance

Members can also purchase a USAA homeowners insurance, umbrella insurance, and small business insurance. USAA even has travel, pet and special event insurance policies.

Claims Process

Many claims, including claims on USAA homeowners insurance and auto insurance, can be filed on the company’s website. The process reportedly takes less than five minutes, and a USAA representative will contact you after the initial claim is made on the website.

To file some claims, however, members must call USAA Insurance. The claims that must be called in are generally either ones that involve more details or ones that require immediate assistance, such as emergency roadside service calls. Members with routine auto and homeowners claims can also call those in, if they prefer.

Available Discounts

USAA offers many discounts on their insurance products. While the discounts available may change at any time, some discounts either offers now or has offered in the past include lower rates for:

Having multiple insurance products with USAA
Being a long-time member of USAA
Remaining accident-free
Qualified defensive-driving courses

In an effort to serve military personnel, USAA also gives active-duty members of the military an additional discount.

Sources:
http://www.americanbanker.com/gallery/largest-privately-owned-banks-in-the-u-s-1054299-1.html
https://www.usaa.com/inet/pages/about_usaa_corporate_overview_history?akredirect=true
https://www.usaa.com/inet/pages/about_usaa_corporate_governance_ceo
https://www.usaa.com/inet/pages/about_usaa_corporate_overview_locations?akredirect=true
https://www.usaa.com/inet/pages/my_usaa_what_is_usaa
https://communities.usaa.com/t5/Press-Releases/FORTUNE-Ranks-USAA-No-17-Best-Employer-in-U-S/ba-p/16401
https://www.usaa.com/inet/pages/about_usaa_corporate_overview_awards_and_rankings
https://www.usaa.com/inet/pages/pc_claims_faq#catastropheonline

Company Information

Company History

Product Offerings

Claims Process

Available Discounts

Standard Home Insurance Coverage