I have had USAA as my Homeowner's insurance for over 25 years, 15 in Florida. Now it appears they do not want my insurance business. I thought USAA supports the military, both past and present, but they what they are doing with their homeowner's insurance in Florida shows they have abandoned the military member. The rates for their insurance is over 3 times higher than other companies. While their customer service is better than average, in most cases, they are not the caring, military oriented organization they claim in their advertising. They appear to want out of the homeowner's insurance market in Florida, so they are abusing loyal members. I have called and talked to them, but was basically told there is nothing which could be done. Slowly, USAA is losing all of my business, that's a shame, they used to support the service member, I guess that is all in the past.
SBear, you are not alone in this. USAA used to be a really great company---- in the past. I am a 23 year member and I have come to the end of my rope with USAA's excuses and inaction to improve. USAA won't even give me a quote for my Florida home. I have honestly given them the benefit of doubt and spent hours on the phone looking for options only to be turned down time and time again. It is not just the homeowner's insurance, I have had my share of difficulties with Auto and banking as well. Recently, State Farm has been very helpful to me and my family's needs and Security First Florida Insurance has a competitive home policy that I am happy with. Good luck to you, I hope you are able to find what you need.
This has been happening for years. USAA has basically been forced out of the Florida market due to cost because of changes in the law (both state and federal) and the higher risk. An older article, but it has some interesting information:
"According to USAA, over the past 10 years, the company has paid approximately $220 million more in Florida homeowner insurance losses and expenses than it has collected in premiums. Florida property policyholders account for 49 percent of USAA’s exposure to natural disaster risk, yet make up only 9 percent of policyholders, who pay 12 percent of USAA’s property insurance premiums."
Unfortunately, you will probably need to find insurance with an agency that is better positioned to assume the higher risk.
I am so sorry for your feeling of frustration. I would like to get a specialist in contact with you, to see if there is anything else we may be able to help you with. I thank you for your service, and membership. Someone will be in contact with you soon. Thanks!
Too late, left. I have been trying to talk with USAA for 3 years, no satisfaction. Have pretty much the same homeowner's coverage at over $600.00 per month less. With all the expanding USAA has been doing, I find it hard to believe they have to be 3 to 5 times higher in cost than other smaller companies. So, have they decided to get out ot the New Jersey and New York markets also with the losses they have suffered there?
Based on some other complaints, they are not writing new policy (with the exception of some active duty members on orders) in high risk coastal areas.
I definitely don't want them to pass the cost on to me, and from what I understand, those in the high risk that are currently covered are complaining because of increase cost. USAA limited insurance pool, makes it more difficult to spread that risk than other larger insurers with no membership restrictions.
I'm sure if there was a way they could do it, they would. Until then, you'll just have to find the insurance somewhere else.
If you read the report to members, you'll note that the insurance side of USAA isn't the big money maker.
I am a 25+ year USAA member - same issue as I just moved to florida to find out that they dont offer Homeowners. I am disappointed in USAA as well. Long time customers and those that meet the profile of the "exlusive group" should have some privilages. It is a dissappointement that you can not figure this out....