USAA insurance review 2022

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USAA pairs robust products with stellar customer service and financial strength. If you qualify for coverage, USAA could be the best provider for your needs. In fact, USAA tied as a winner of the Bankrate Awards for being the best auto and home insurance company overall, based on Bankrate’s assessment. USAA offers several types of insurance, including auto, home and life, with added military-centric benefits that extend past the standard coverage. Coupled with its standout offerings are additional banking products, company services like vehicle loans and a strong focus on giving back to military families, caregivers and minority communities.

Bankrate Awards
  • Best overall auto insurance company
  • Best overall home insurance company
Perks Drawbacks
Low average auto and home premiums Only available to military members and qualifying family members
Excellent financial strength ratings Few physical locations
Outstanding customer service scores

The United States Automobile Association, or USAA, is a financial services company that provides banking, investment and insurance products to military-affiliated members. Although not everyone qualifies for coverage, those who do may want to consider getting insurance quotes from USAA. The carrier offers low average premiums, strong customer service scores and excellent financial strength.

To qualify for membership with USAA, you must be an active, retired or separated member of the military with an “Honorable” discharge status. Certain family members are also eligible, including spouses and children. Products are available in all 50 states and Washington, D.C. Bankrate analyzed USAA’s insurance products to help you decide if the company is right for you.

USAA car insurance | Bankrate Score 5.0

Based on our assessment, USAA could be an excellent choice for auto insurance coverage, assuming you meet the eligibility requirements due to its low premiums and high customer satisfaction. The company also has unique military-focused discounts and perks that could be appealing to those seeking coverage.

The company offers coverage tailored to military members, veterans and their families. USAA can even help you get insurance coverage if you are stationed outside the U.S. in some cases. No matter what type of auto insurance you are looking for — minimum coverage to full coverage — USAA offers all the standard coverage options plus a few extras, like roadside assistance and car rental reimbursement. USAA consistently receives high customer satisfaction scores from J.D. Power, although the carrier is not eligible for official ranking due to its eligibility restrictions. In the 2021 J.D. Power U.S. Auto Insurance Study, USAA is the highest-scoring company in every single region of the country.

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USAA car insurance cost

According to our research, USAA boasts an average annual full coverage premium of $1,225 per year and an average annual minimum coverage premium of $384 per year. This is quite a bit less than the national average cost of car insurance, which is $1,674 per year for full coverage and $565 per year for minimum coverage. In fact, based on our research, USAA has lower-than-average rates for a variety of scenarios, including adding a 16-year-old driver and having a speeding ticket on your record.

USAA average annual full coverage premium National average full coverage premium
Clean driving history $1,225 $1,674
Speeding ticket $1,463 $2,062
Adding a 16-year-old driver $2,186 $2,531
DUI conviction $2,177 $3,139

USAA car insurance discounts

USAA offers several savings opportunities on top of its already lower-than-average rates:

  • Vehicle storage: If you store your vehicle, you could save up to 60% off your premium, even while deployed.
  • Military installation discount: Garaging your vehicle on a military base could earn you up to 15% off the cost of your comprehensive coverage.
  • SafePilot: You might save up to 30% for participating in this program that tracks your driving habits.

Discounts vary by location and are subject to eligibility. The best way to know if you qualify for savings is to talk to a USAA agent.

USAA car services

USAA is more than just an insurance provider; the company offers a host of other financial products and benefits for its members. If you want to consolidate numerous financial services with one company, USAA could be a good fit.

In addition to auto insurance coverage, USAA partners with other insurers to offer coverage for other types of vehicles too, including motorcycles, ATVs, antique and classic cars, RVs and motorhomes. Along with insuring your car, USAA could also finance it. On top of standard auto loans (which you can apply for in just five minutes online), the company also offers leisure vehicle loans, motorcycle loans and RV loans.

USAA home insurance | Bankrate Score 4.8

USAA home insurance could also be a great choice for qualifying homeowners. The carrier offers all the standard coverage options you’d expect from a major insurer, plus several perks along with excellent customer service.

No matter where you live in the country, USAA’s home insurance could be a great option to protect your home and personal property. USAA home insurance comes with all the standard coverage types — including dwelling, personal property, other structures coverage and liability coverage — and can also be personalized to suit your needs. Coverage even includes military uniforms that are damaged while on active or reserve duty. Optional coverage types include home sharing coverage, earthquake coverage and flood insurance. The company also scored 882 out of 1,000 in the 2021 J.D. Power U.S. Home Insurance Study, the highest score of any company listed.

USAA home insurance cost

Just like with auto insurance, USAA tends to offer below-average rates for home insurance, based on Bankrate’s proprietary research method. The company offers coverage nationwide, and, on average, rates are cheaper than the national average cost of home insurance, regardless of how much dwelling coverage you purchase.

Dwelling coverage limit USAA average annual premium National average annual premium
$150,000 $716 $898
$250,000 $992 $1,312
$350,000 $1,250 $1,723
$450,000 $1,502 $2,148

USAA home insurance discounts

Although USAA’s average home insurance rates are already lower than the national average, the company offers a few discounts that could help you save even more:

  • Multi-policy: Bundling your auto and home insurance could save you up to 10%.
  • Protective devices: USAA partners with ADT to bring you savings on the alarm system itself and on your home insurance once the system is installed.
  • Claims free: You might save up to 10% if you go five or more years without filing a claim.

USAA home services

USAA offers several home-related products and services in addition to home insurance. You could get your mortgage through USAA, for example, or refinance your existing mortgage. USAA is also a lender of VA loans. Additionally, the company has a “Mortgage Assistance Team” you can talk with if you are struggling with your monthly mortgage payment.

USAA also offers numerous online tools to help you with everything from buying your home, prepping your home for sale and completing home renovations. The Home Contractor Network might even help you find a trusted contractor in your area based on the details of your project. USAA can even track your current home and monitor its market value.

USAA life insurance

USAA’s life insurance offerings are more limited than other companies, but the company could be a good choice if you are looking for one of the products it offers. The company also has financial advisors available to help you understand your needs and choose a product.

USAA offers a few different life insurance products, including term life, simplified whole life and universal life. Guaranteed whole life policies are also available, although Mutual of Omaha underwrites them. Life insurance is designed to help give your loved ones a financial cushion if you pass away, so choosing the best product type for your needs is an important part of your financial plan.

USAA life insurance endorsements

Whether you choose term or permanent life insurance, you have options to get more out of your USAA life insurance policy. These benefits vary, depending on the type of policy you choose.

  • You have the option to add another $100,000 term life coverage if getting married, buying a house or having a baby — if you are between the ages of 18-35.
  • Insure all children for less than $8 per month with a term life policy; they have the option to convert to a permanent policy once they grow up, regardless of their health.
  • By paying a small fee upfront when buying a permanent policy, you can make sure your premiums are waived if you become disabled.

USAA life services

Life insurance products can be complex, and understanding what product is right for your needs can be challenging. USAA offers financial advisors to help you learn about and choose the proper life insurance product. You can call 800-531-5433 Monday through Friday, 7:30 AM to 7 PM Central Time, to speak with a representative and discuss your life insurance needs.

Other USAA perks worth considering

Membership with USAA comes with numerous benefits, including:

  • Banking products: USAA offers banking products, including checking and savings accounts, credit cards and loans.
  • Mobile app: USAA’s mobile app is highly rated in the Service category of the 2021 J.D. Power U.S. Insurance Digital Experience Study.
  • Renters insurance: If you rent your home or apartment, USAA has renters insurance options that could help protect your belongings.
  • Landlord insurance: Landlords can buy these types of policies to protect the homes that they own and rent out.
  • Umbrella insurance: These insurance policies can provide excess liability coverage to help protect your finances.

USAA social impact

USAA has several areas of focus for its charitable giving, which is done through a grant program, both on a national and local level (local to USAA office locations). Contributions support military caregivers and families of the wounded or fallen, families facing homelessness and hunger, and disaster response efforts.

Additionally, the company has made a three-year, $50-million commitment to address economic, education, and employment disparities faced by minority communities.

USAA also operates an employee volunteer program, which is currently suspended due to the COVID-19 pandemic. However, USAA employees do still have the option to volunteer virtually, and nonprofits can submit volunteer opportunities through USAA Serves.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

Auto

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our sample drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.

Age: Rates were calculated by evaluating our base profile with the age 16 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Hawaii rates indicate age is not a contributing factor.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and a single DUI conviction.

Homeowners

  • Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000
  • Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000
  • Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000
  • Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000
  • Coverage E, Liability: $300,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Written by
Cate Deventer
Insurance Writer & Editor
Cate Deventer is a writer, editor and insurance professional with over a decade of experience in the insurance industry as a licensed insurance agent.
Edited by
Senior Insurance Editor