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USAA vs others on price????

BigIron

BigIron

Remotely piloted
pilot
Super Moderator
Contributor
Cavt said:
One thing I noticed between USAA and another company (recently bought a house/purchased homeowners insurance) was that the number USAA used for the replacement value was VERY high, I think the quoted 190,000 to replace my house, whereas the other company used 135,000 (which is more realistic). I dont know if that has much of an affect on the premium, but it's something to notice.
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This is probably to make sure you insure your home to @ least 80% of its value. If you do not, the insurer will not pay replacement cost for the repair/rebuild (if you have replacement cost coverage). I know USAA uses software to determine LKQ (like, kind, quality) of a dwelling's rebuild cost.

Although there may be a cheaper insurer than USAA, you get what you pay for when it comes down to claim time and service.
 
P

Pags

N/A
pilot
When I got my homeowners through USAA their initial price was really high in relation to what I was told to expect (Dad's in the insurance business...says he can't offer better deals than USAA can). Turns out their standard package includes a lot of crap you don't need plus they overestimate. I called USAA back, told them what I wanted and they gave me a much better rate.
 
kmac

kmac

Coffee Drinker
pilot
Super Moderator
Contributor
Pags said:
I called USAA back, told them what I wanted and they gave me a much better rate.
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I assume that a lot of that is going on here. The only problem is that really I'm not getting anything useful out of it compared to the other companies. Why would USAA quote themselves out of competition? I understand that customer service is very good with USAA (and I have their auto insurance and can attest to that), but CS is not worth 4 times the value of other companies' premiums.

BigIron said:
This is probably to make sure you insure your home to @ least 80% of its value.
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What I find amusing is that every insurance company I've talked to has used a higher value for the dwelling than what is neccessary. I'm not talking about 80% LTV, but they actual use a higher value than the cost. How is it possible that the replacement cost is MORE than what I paid for it? Ahhh, those funny insurance people.
 
P

Pags

N/A
pilot
kmac said:
I assume that a lot of that is going on here. The only problem is that really I'm not getting anything useful out of it compared to the other companies. Why would USAA quote themselves out of competition? I understand that customer service is very good with USAA (and I have their auto insurance and can attest to that), but CS is not worth 4 times the value of other companies' premiums.
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I can't remember what I dropped/reduced to get the price down, but if you ask them to cut back on some coverage areas and don't get as much coverage as they think you should have, it becomes more reasonable. Why USAA's basic package includes so much extraneous stuff is beyond me. Maybe they think they're doing you a favor.
 
Schnugg

Schnugg

It's gettin' a bit dramatic 'round here...
None
Super Moderator
Contributor
A higher deductible will bring the rate down as well.
 
HuggyU2

HuggyU2

Well-Known Member
None
BigIron said:
Schnugg's cat....

worlds-fattest-cat.jpg
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Sorry for the thread creep, but this cat won't qualify within the weight limits for an ejection seat.
 
jus2mch

jus2mch

MOTIVATOR
Contributor
I would ask USAA why they are quoting you such a high premium, and tell them what other companies are offering you. They are usually pretty good about wanting to beat the competition.
 
T

The Stinkster

Now who do I blame?
pilot
KMAC-

Went through the same thing with USAA when I bought my house in South Texas a couple of years ago. They were extremely high compared to the competition, and I did a lot of work with them trying to get a better quote since I had been with them for so long. I looked at State Farm there as well, but wasn't happy with the total package, even tho they were the cheapest. In the end I went with allstate, which had a much better deal, better dwelling and liability coverage, great service, included the wind and water damage (required down there if you have a mortgage in most cases due to the propensity for hurricanes) and even helped me get my federal flood insurance taken care of. I talked the deal over with USAA after meeting with the ALLSTATE agent, and they said that there was no way that they could match that. FYI, if you try to include the wind and water part for hurricanes with USAA, the price will go up another $500 plus. The USAA people said that in hurricane areas, they just couldn't afford to keep the rates down, and that they had changed their policies in those areas accordingly. I was pretty disappointed in them to say the least, but I was very happy with my allstate coverage, cost and service, and even ended up switching my car insurance to them as well, as the deal I got was better, the service was great and it got me another percentage reduction on my homeowners insurance. PM me if you want some more info.
 
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