I can\’t beleive that many affluent clients are insured by USAA. I did run into one a few years ago and USAA had their home insured for about half of the true reconstruction cost in a very ritzy part of town.
Reflex, What do you think former Generals and Admirals do after they retire? Many of them go work in the private sector as executives. Not to mention all the doctors that started out their careers as military officers. And a career as an officer ain\’t all that bad no matter what an officer wants you to think. There is much affluence within the ranks of USAA member househoulds.
As an insurance trainer I am not a salesperson, and have no loyalty to any particular insurance company. I meet insurance professionals from many companies constantly, getting a sense of their corporate culture and products they sell. If one of those USAA policyowners buys a custom or historic home and USAA does not offer a homeowners policy similar to Chubb\’s Masterpiece policy tailored for that market, they may not be so happy with USAA after a claim. Net worth is not a fine enough distinction to use in comparing the service of insurance companies they may use. If this survey only uses net worth, they ignore an important market segment. Niche markets for the portion of the wealthy who also use their money to collect truly one of a kind possessions and homes need special insurance most of the companies mentioned in this article do not offer. It is possible that type of \”consumer\” is much less likely to respond to a survey. Architectural Digest vs. Better Homes and Gardens
What would an objective third party audit-review of low-to-moderate income consumers claim related complaints reveal?
Especially Allstate, American Family, Farmers, Hartford, Mid-Century, State Farm, USAA (United Services Automobile Association) claims.
Total complaint figures are not actual consumer complaint sums. Many people, do not want to relive, or share, traumatic experience details with others.
I\’m a moderate \’net worth\’ independent insurance agent in California. I work with alot of moderate to high net worth consumers educating them on the risks they have.
USAA(as with all direct writers out here) on a level coverage playing field, is not competitive. Their agents have to underinsure homes (not to Replacement Cost), write policies without UM or med and with high deductibles, and they can\’t spell umbrella (although Allstate, State Farm, Framers, and Liberty Mutual can). They can underinsure their clients and the carrier will pay the claim (although they mught reprimand or fire the agent) which makes the carrier look great in the consumers eyes. That\’s why the complaints are generally lower than the norm. But if a company is stupid enough not to educate consumers…..hey that\’s competitive! Dishonest, but competitive!
It\’s really sad to say that an insurance license (oh yeah, I wonder if USAA employees are) means nothing in California.
I\’ve got the same problem with these direct writers too. I\’m former military, and I called USAA just for kicks to get a quote when I bought my home.
Some well paid brain on the other end couldn\’t tell me what personal injury coverage was (she finally decided I didn\’t need it) and that my requested medical payments limits were too high.
As for extra coverages, no one\’s got a better plans than Chubb or the new Hartford Dimensions program.
USAA is not all it\’s cracked up to be. Their call center does not even know the difference or endorsements allowed on home policies. They do not offer many features others in the market do, especially on high value homes.
Plus, I was a USAA customer for 30 years. I had one claim the last year I was with them, on my home. I used all the vendors they recommended and USAA did not pay bills. I found this out 1 year later, after I was turned over to collection. Their excuse was I did not use their vendors. What a nightmare working with their claims department. I now have my insurance with a company that is not rated number 1
Trust me, USAA\’s prices and policies can be beat. You\’re right about the level of high worth customers, though. But they really don\’t councel their customers they way they should, they\’re just an order taker now. I live in San Antonio, where they\’re based, and a lot of my friends work for them. They haven\’t got a clue on what the market is doing, or what the complexities of home insurance is.
The ONLY reason USAA gets high marks is because it\’s only available to a certain segment of the market. This brings the image of exclusivity. \”They must be good if you have to be a certain somebody to get them\”.
But, I saved someone about $1,500 a year by switching their 4 cars, house, and young driver over to my agency. A personal friend just switched yesterday because they increased his rates too much after a wreck.
At last! Army and Marines are right about something! USAA is excellent at everything they do.
I am former military and would not buy a renters policy from USAA.
Whenever I\’ve had any dealings with them, the service was not good and the professionalism was non-existent.
Just one man\’s opinion.
American Family…what a joke, they must have paid for this survey
I can\’t beleive that many affluent clients are insured by USAA. I did run into one a few years ago and USAA had their home insured for about half of the true reconstruction cost in a very ritzy part of town.
Reflex, What do you think former Generals and Admirals do after they retire? Many of them go work in the private sector as executives. Not to mention all the doctors that started out their careers as military officers. And a career as an officer ain\’t all that bad no matter what an officer wants you to think. There is much affluence within the ranks of USAA member househoulds.
Army\’s got it right. My Marine is a reservist, makes big money when he\’s not on duty, and so does most of his reserve unit.
Plus, USAA has fantastic coverages and their prices can\’t be beat. Everyone should be so lucky to have this kind of insurance carrier!
As an insurance trainer I am not a salesperson, and have no loyalty to any particular insurance company. I meet insurance professionals from many companies constantly, getting a sense of their corporate culture and products they sell. If one of those USAA policyowners buys a custom or historic home and USAA does not offer a homeowners policy similar to Chubb\’s Masterpiece policy tailored for that market, they may not be so happy with USAA after a claim. Net worth is not a fine enough distinction to use in comparing the service of insurance companies they may use. If this survey only uses net worth, they ignore an important market segment. Niche markets for the portion of the wealthy who also use their money to collect truly one of a kind possessions and homes need special insurance most of the companies mentioned in this article do not offer. It is possible that type of \”consumer\” is much less likely to respond to a survey. Architectural Digest vs. Better Homes and Gardens
What would an objective third party audit-review of low-to-moderate income consumers claim related complaints reveal?
Especially Allstate, American Family, Farmers, Hartford, Mid-Century, State Farm, USAA (United Services Automobile Association) claims.
Total complaint figures are not actual consumer complaint sums. Many people, do not want to relive, or share, traumatic experience details with others.
http://www.dora.state.co.us/Insurance/pb/complaintcy.pdf
I\’m a moderate \’net worth\’ independent insurance agent in California. I work with alot of moderate to high net worth consumers educating them on the risks they have.
USAA(as with all direct writers out here) on a level coverage playing field, is not competitive. Their agents have to underinsure homes (not to Replacement Cost), write policies without UM or med and with high deductibles, and they can\’t spell umbrella (although Allstate, State Farm, Framers, and Liberty Mutual can). They can underinsure their clients and the carrier will pay the claim (although they mught reprimand or fire the agent) which makes the carrier look great in the consumers eyes. That\’s why the complaints are generally lower than the norm. But if a company is stupid enough not to educate consumers…..hey that\’s competitive! Dishonest, but competitive!
It\’s really sad to say that an insurance license (oh yeah, I wonder if USAA employees are) means nothing in California.
I\’ve got the same problem with these direct writers too. I\’m former military, and I called USAA just for kicks to get a quote when I bought my home.
Some well paid brain on the other end couldn\’t tell me what personal injury coverage was (she finally decided I didn\’t need it) and that my requested medical payments limits were too high.
As for extra coverages, no one\’s got a better plans than Chubb or the new Hartford Dimensions program.
USAA is not all it\’s cracked up to be. Their call center does not even know the difference or endorsements allowed on home policies. They do not offer many features others in the market do, especially on high value homes.
Plus, I was a USAA customer for 30 years. I had one claim the last year I was with them, on my home. I used all the vendors they recommended and USAA did not pay bills. I found this out 1 year later, after I was turned over to collection. Their excuse was I did not use their vendors. What a nightmare working with their claims department. I now have my insurance with a company that is not rated number 1
Jayne , who are you now insured with
Trust me, USAA\’s prices and policies can be beat. You\’re right about the level of high worth customers, though. But they really don\’t councel their customers they way they should, they\’re just an order taker now. I live in San Antonio, where they\’re based, and a lot of my friends work for them. They haven\’t got a clue on what the market is doing, or what the complexities of home insurance is.
The ONLY reason USAA gets high marks is because it\’s only available to a certain segment of the market. This brings the image of exclusivity. \”They must be good if you have to be a certain somebody to get them\”.
But, I saved someone about $1,500 a year by switching their 4 cars, house, and young driver over to my agency. A personal friend just switched yesterday because they increased his rates too much after a wreck.