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USAA Senior Bonus

Flash

SEVAL/ECMO
None
Super Moderator
Contributor
#16
I've been happy with them until their payout for an insurance claim on a rental house's roof of mine was like $1,000 less than the cost of a replacement roof I paid for (through a family connection at a discount). If you're going to come up with a random number, at least send me a contractor who will do the job for YOUR price.... whatever, I'll be looking elsewhere for insurance soon enough.
Having never done a home claim like that do they have recommended folks like they do for car repairs where they pay the full amount directly to the contractor?

The two folks I know who had house fires said the experience was the opposite of what you described, with the contractors themselves saying to the owners how much better USAA was to deal with than other insurance companies and much more willing to pay for repairs they (the contractors) recommended with little to no fuss.

I wasn't enthused with my last car repair through them for several reasons but much of it was because of their recommended repair place and not USAA though there were a few things that annoyed me with them but they were minor overall. The price overall is still pretty good for me and I probably couldn't get as good rates or even qualify with the only two other companies I would likely consider right now, Amica and Erie.
 

BACONATOR

Well-Known Member
pilot
Contributor
#17
Having never done a home claim like that do they have recommended folks like they do for car repairs where they pay the full amount directly to the contractor?

The two folks I know who had house fires said the experience was the opposite of what you described, with the contractors themselves saying to the owners how much better USAA was to deal with than other insurance companies and much more willing to pay for repairs they (the contractors) recommended with little to no fuss.

I wasn't enthused with my last car repair through them for several reasons but much of it was because of their recommended repair place and not USAA though there were a few things that annoyed me with them but they were minor overall. The price overall is still pretty good for me and I probably couldn't get as good rates or even qualify with the only two other companies I would likely consider right now, Amica and Erie.
Believe me, I love USAA and wish I'd had a better experience. But I spent a fair bit of time getting multiple quotes for thousands more than their payout (with no recommended contractors). It was hail season in SAT so I know we were being gouged, but after getting a family-connection deal, USAA was breaking my balls about getting a quote, then an itemized-quote and our contractor was pretty much non-existent after they got our money so I got stiffed with the difference and USAA wouldn't do anything without their very specific itemized bill. I get it, but thanks for nothing...
 

scoolbubba

Well-Known Member
pilot
Contributor
#18
If you have a savings account with USAA do yourself a favor and look at Ally.

This. So much this.

I keep enough to cover quick cash needs (5K earnest money on a house/a couple g's to get rid of a dead hooker, for instance) in my USAA Savings. The rest of my combined life saving is sitting in an Ally account making 1.45% right now. USAAs savings interest rate is essentially 0%.
 

DanMa1156

Land of the Milk and Honey.
pilot
Contributor
#20
This. So much this.

I keep enough to cover quick cash needs (5K earnest money on a house/a couple g's to get rid of a dead hooker, for instance) in my USAA Savings. The rest of my combined life saving is sitting in an Ally account making 1.45% right now. USAAs savings interest rate is essentially 0%.
To be clear, they aren't really any better or worse than any other major bank right now such as Citi, Bank of America, Wells Fargo, etc. But for a bank with no brick and mortar locations, this shouldn't be the case and they should be competing against online banks like Ally, Discover, etc.
 

DanMa1156

Land of the Milk and Honey.
pilot
Contributor
#21
With all of this said, I consider myself fairly financially savvy and I think my peers and superiors would agree with that statement. However, I still don't really get what the USAA Subsribers' is. Can anyone explain in layman's terms? And why does it suddenly balloon after 40 years of membership?
 

SynixMan

Professional CCX Wrangler
pilot
Contributor
#22
With all of this said, I consider myself fairly financially savvy and I think my peers and superiors would agree with that statement. However, I still don't really get what the USAA Subsribers' is. Can anyone explain in layman's terms? And why does it suddenly balloon after 40 years of membership?
So the way USAA is structured, insurance members are bought in kinda like the mob. Your SSA balance is effectively that. It accuses the profits from the company. The board allows a percentage yearly that usually deposits as a credit to your insurance bill. If you cancel all your insurance products, in six months you can liquidate your SSA.

https://themilitarywallet.com/usaa-subscriber-savings-account-insurance-policy/
 
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