Cost of USAA car insurance
The cost of your car insurance with USAA is calculated based on a number of factors, including your age, driving history, type of car you drive, vehicle usage and your geographic location.
If you have a driver under age 25 on your policy, your rates could be affected. The fewer accidents and traffic tickets on your driving record, the lower your rates may be. How often you drive your car — and your average annual mileage — are taken into consideration when determining your premiums.
If you live in a high-population area, this can affect your premiums. Population density with more people and cars on the road could put you at higher risk for accidents — another key factor when determining your insurance premiums.
The chart below shows the average premiums for USAA, based on minimal coverage and full coverage policies written across all 50 states and Washington, D.C. The average annual cost for minimum coverageis $384 and $1,225 for full coverage. These rates reflect 12 months of coverage.
To determine whether you would pay more or less than the averages above, contact USAA for a custom insurance quote.
- Defensive driving course discounts: If you take a certified defensive driving course, you may qualify for a discount.
- Safe driver: If you maintain a good driving record for more than five years.
- Driver training: For those under the age of 21 who complete a basic driver training course.
- New vehicle: If your car is less than three years old.
- Multi-vehicle: A discount if you insure more than one car with the company.
- Vehicle storage: Military members can save up to 60% off their premiums if storing their vehicle while on active duty.
- Military installation discount:Save up to 15% if you garage your vehicle on base.
- Good student: For those still in school who maintain good grades.
- Loyalty discounts: If you remain with USAA insurance for a certain length of time, you may receive a discount.
- Multi-policy discounts: Talk to USAA insurance customer service about combining your auto policy with another policy for potential discounts.
- Accident-free discounts: If you’re a safe driver with an accident-free record, your USAA insurance policy may be discounted.
- Length of membership: The longer you’re a USAA customer, the more money you could save.
USAA home insurance
Your USAA homeowners policyfocuses on two areas: liability, which is your legal responsibility when someone is hurt on your property, and dwelling coverage, or hazard coverage, which would help pay to repair your home in the event of a named peril. You may also have coverage for medical costs, as well as optional coverage that you may choose when customizing your policy, such as earthquake insurance.
Types of coverage
- Fire, smoke and lightning: This would include damage from smoke, which is common after a fire, and lightning damage.
- Theft: Includes someone breaking into your house, or stealing items from your garage or property, such as bikes or sports equipment.
- Vandalism: If your home is purposely defaced or destroyed in any way by another person or persons then this coverage will protect you.
- Most weather-related events:This includes damage from wind storms, snow, hail and freezing weather, but not flooding, which requires a separate policy. If you are in an area that sees hurricanes, your policy will likely cover you from damage caused by hurricane winds but not the subsequent flooding, unless you had additional coverage
- Liability: This covers you against lawsuits brought by someone who was injured on your property. It may help pay medical bills, also, as well as lost wages, death benefits and more, depending on your policy. Note that it includes dog bites, and you may see an increase in your premium if you own a dog breed that is thought to be aggressive, such as a pit bull.
- Identity theft coverage: This type of coverage is becoming increasingly common as the incidents of hackers hijacking individuals’ identities increases. This may cover legal costs or other costs related to rebuilding your credit and reestablishing your financial stability.
- Home-sharing coverage: If you rent your home through a sharing platform, like Airbnb, USAA offers home-sharing coverage to protect your guests during their stay.
- Earthquake coverage:Homeowners who live in states with a risk of earthquakes can buy earthquake coverage from USAA.
- Replacement cost: With USAA home insurance, your home and personal belongings are covered at today’s replacement cost, without depreciation.
- Other structures: Homeowners insured under USAA receive coverage for other structures separate from the home. Other structures include detached garages, storages, fences and gates and driveways.
- Loss of use: You can also have your increase in living expenses covered if your home is not livable after a covered loss.
- Loyalty discounts: As with auto insurance, if you remain with USAA insurance for a certain number of years, you may receive a discount.
- Protective device: If you have burglar or other alarm systems installed by USAA-partner ADT Home Security Systems, you could earn a discount.
- Claims-free: If you make no claims for five or more years, you could qualify to earn up to 10% off your home insurance premium.
- Multi-policy discounts: Talk to USAA insurance customer service about combining your home policy with another policy, like auto insurance, for potential discounts.
USAA life insurance
Life insurance helps to financially support your loved ones or heirs after your death. It can be used to replace income, pay for funeral expenses or cover unpaid debts. USAA offers a few options for life insurance, as well as military-specific protection for those deploying, actively serving or leaving the military.
Types of coverage
- Term life insurance: USAA’s term life insurance offers coverage for up to 30 years. You can convert your term policy to permanent coverage whenever you want to. Active duty military can also access benefits, like coverage during war, $25,000 for severe injury expenses and guaranteed coverage after leaving the military.
- Simplified whole life insurance: Simplified whole life insurance includes coverage for your lifetime and builds cash value overtime. Your premium never changes, and the policy has guaranteed tax-free growth potential. You can also decide how often you make payments–for 20 years, until age 65 or for your lifetime.
- Universal life insurance: Universal life insurance also provides lifetime coverage, but you have more flexibility on how much you pay towards your premiums. It comes with a cash value component that grows tax-deferred, which means your monthly rate could decrease as your cash value accumulates. You can even pull out that money and use it in case of an emergency. (Not currently available in New York.)
Riders or 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 in the event you become disabled.
Although USAA receives high scores from J.D. Power, they are technically rank-ineligible due to limited availability.
In J.D. Power’s insurance studies, USAA is consistently the highest-rated insurance company. However, USAA is excluded from the rankings because it has membership restrictions limited to military families. J.D. Power’s auto and home insurance studies rank the best insurance providers based on overall satisfaction, using real reviews from customers.
Top reasons to consider USAA
USAA is definitely not an insurance company for everyone, especially since the company specifically serves only the military, its families and the military community. However, for those who meet the eligibility requirements, it can be a great option for auto, home, renters and life insurance, as well as the other features offered by USAA.
For those who are technology-savvy, USAA’s mobile app makes it simple to file a claim quickly, pay bills with ease and more. If you plan to have multiple policies, especially auto and home insurance, you may be eligible for a USAA insurance discount for bundling policies. And if you choose USAA insurance and stick with the company for years, the loyalty discount may save you money in the long run.
If you are considering a life insurance policy, USAA has several options to choose from. If you are an active duty military member, USAA’s life insurance policies have some great perks, like coverage during war and for severe injury expenses. Compared to some other life insurance providers, USAA’s coverage and rates are competitive and affordable.
Additional policies offered by USAA
In addition to car, home and life insurance, USAA also offers insurance policies for the following:
- Rental property insurance
- Valuable personal property insurance
- Condo insurance
- Flood insurance
- Umbrella insurance
- Motorcycle, RV and boat insurance
- Small business insurance