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I been a member of USAA for 44 years and have been very pleased with its products. But this year my mortgage homeowners premium increased over 20 percent. I have had no claims and my property values have not increased dramatically. A telecon conversation said it was related to Illinois and other midwest states not providing adequate premiums coverage. More disturbing was the lack of personal notification by USAA for such an increase. Personal contact to its members has always been a strong point of USAA. Also I noticed in the Investment side a major selloff of its brokerage accounts. Is USAA fundamentally changing and do we have to be concerned. Any incites would be appreciated? Walt Skrainy, Col, USAF (ret)


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Col, I received a call from USAA CEO rep about my policy but wasn't around to take it. They wanted to talk to me about my auto/homeowners policy, but I had already emailed them that I had done (modify/remove certain coverages) what I could already to keep the increases at a modest level. I've been with USAA since the 1980s and the major increases started taking place in the past 5-10 yrs.  The only options are to either look for another provider or remain with USAA and hope the annual SSA distributions (if the Board approves any) offsets part of those increases. I ended up moving my investments/banking to other institutions a couple years ago, because the returns weren't very good.

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Thank you for your loyal membership of over forty-four years, @mr rogers. We are truly honored to serve you. We certainly understand your concern while experiencing the homeowners premium increase. We are happy to review the policy with you and seek out any potential savings opportunities that could be available to you. Please, feel free to connect with us via chat on USAA.com or by dialing 800-531-8722 to proceed. 

 

Additionally, regarding the investments transition, USAA continues to provide award-winning customer service and advice on highly competitive products and services across property and casualty, banking and life insurance. As part of our ongoing commitment to provide value to the military community, this agreement facilitates member access to a broad range of highly-competitive Schwab products and services available for some of the lowest costs in the industry and no brokerage account minimums. In addition, members will have access to dedicated expertise and 24/7/365 support from representatives who are consistently recognized for their service. Pelase, let me know if I can be of any further direction. ~ Steven

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Col, I received a call from USAA CEO rep about my policy but wasn't around to take it. They wanted to talk to me about my auto/homeowners policy, but I had already emailed them that I had done (modify/remove certain coverages) what I could already to keep the increases at a modest level. I've been with USAA since the 1980s and the major increases started taking place in the past 5-10 yrs.  The only options are to either look for another provider or remain with USAA and hope the annual SSA distributions (if the Board approves any) offsets part of those increases. I ended up moving my investments/banking to other institutions a couple years ago, because the returns weren't very good.

View solution in original post