USAA Homeowners Insurance Review in 2023
A group of 25 Army officers who wished to self-insure their automobiles created USAA in 1922. With its headquarters in San Antonio, USAA runs a few satellite offices across the country as well as in London, Frankfurt, and Luxembourg.
The insurance options offered by USAA include renters, life, health, vehicle, small business, pet, and personal property insurance in addition to homeowners insurance. 13 million members and over 37,000 workers work for USAA worldwide.
In our ranking of the Top Home Insurance Providers for 2023, USAA is tied for third place. The most typical homeowners’ coverages, such as dwelling coverage, personal property, liability, and loss of use coverage—which helps pay living expenses in the event that a house is become uninhabitable following a loss—are included in its standard coverages.
Replacement cost coverage, which evaluates the value of your goods without taking depreciation into account, is also a feature of standard plans. Many insurance providers will calculate the depreciation worth of your possessions. Except for plans issued in North Carolina, USAA products additionally include $5,000 in identity theft insurance protection.
Only USAA members are eligible to apply for the company’s residential policy. Both active-duty and retired personnel of the US military are eligible for membership.
With a USAA policy, active-duty military personnel receive additional benefits. There is no deductible for uniform coverage, and deductibles may be waived in the event that a war results in the loss of personal property.
Members have the opportunity to add optional coverage, such as coverage for precious possessions and water backup, to their normal home insurance policy. Additionally, they can lower their premiums by taking advantage of discounts like the no-claims bonus and price reductions for purchasing multiple plans.
Every state can purchase USAA policies, and potential customers can request prices online. The company has received AM Best’s highest possible rating for financial strength, an A++.
How Do I Buy USAA Homeowners Insurance?
You must be a member of USAA and have set up an online account in order to get USAA homeowners insurance. Once enrolled, you can use all of its features and get insurance prices. Before you begin the process of purchasing home insurance, figure out how much coverage you require by estimating the cost of rebuilding your house and replacing all of your belongings.
Our ranking of the top home insurance providers places State Farm at No. 2, USAA at No. 3, and Allstate at No. 2. Both businesses offer customers to get insurance quotes online, and both have the independent rating firm AM Best’s highest financial strength grade of A++.
The most typical home insurance protections are included in the standard policies from USAA and State Farm, including coverage for the house and other structures, personal property, liability, guest medical coverage, which can help with costs in the event that a guest is hurt on the policyholder’s property, and additional living expenses (ALE). Both also come with coverage for identity theft.
Replacement cost insurance is one of USAA’s standard features. Both provide an option for coverage against damage from water backup and for valuables.
State Farm offers a loyalty discount in terms of special offers. For military personnel who are currently on active duty, USAA offers some discounts.
In contrast to USAA plans, which are available in every state, State Farm does not sell home insurance policies in California, Massachusetts, or Rhode Island. However, not everyone can get USAA house insurance plans. Only members of USAA, which consists of service personnel, veterans, and their spouses and kids, may apply.
In our ranking of the Best Home Insurance Companies of 2023, USAA and Allstate are tied for third place.
Many of the same common house insurance protections are provided by USAA and Allstate, including dwelling protection, which covers the actual building of a home, personal property protection, ALE, personal liability protection, and guest medical protection. Both businesses also provide ways to tailor and broaden coverage. Options include earthquake coverage, water backup coverage, and covering for important possessions.