USAA renters insurance Review

USAA Renters Insurance Review

USAA (United States Automobile Association) is an insurance company created by military members for military members, retired military, and their families. You may be able to get insurance through USAA if you are related to a military member.

Because they understand the complexities of military life, USAA offers some incredible options that other companies don’t have.

About USAA Renters Insurance

USAA includes a vast array of product for both insurance and financial needs. These include

  • USAA auto (with USAA roadside assistance), motorcycle, rv & boat insurance
  • Renters, homeowner, condo and rental property insurance including flood insurance
  • Valuable personal property and small business insurance
  • Life insurance and annuities
  • Umbrella insurance
  • Checking and savings accounts for all family members
  • Credit cards
  • Home mortgages and refinances including VA loans
  • Personal, auto, motorcycle, rv & boat loans – they’ll even help you shop for a car
  • CDs, IRAs and other wealth management including college products
  • Credit monitoring & id protection
  • USAA health insurance products include long-term care, dental, vision, and Medicare

Renters Insurance

Renters insurance is similar to the personal property protection and liability sections of homeowner insurance. It covers replacement of lost or damaged personal items and liability if a visitor is injured or injures your home.

USAA Renters Insurance Financial Rating

USAA has very strong financial ratings. These rating indicate the financial strength of the company and how likely you will be paid in the event that you make a claim.

A.M. Best Company                A++ (Superior, highest of 16 possible ratings)

Moody’s Investors Service        Aaa (Exceptional, highest of 21 possible ratings)

Standard & Poor’s                    AA+ (Very Strong, second highest of 21 possible ratings)

USAA Renters Renters Insurance Products

USAA offers a broader range of items covered without special riders and a wider range of catastrophes than do most renters insurance policies. If you are stationed overseas, you may be qualified to keep your USAA renters policy.

What is covered: clothing, electronics, silverware, phones, military equipment, jewelry, storage, fine art, bicycles, sports equipment, cameras, liability, coins, china / crystal, music, equipment, guns, furniture, stamps, antiques, computers, appliances, furs, and hearing aids.

Covered events: fire and lightning, flood and water, windstorm or hail, collapse of building, volcanic eruption, earthquake, smoke, freezing, falling objects, explosion, theft, aircraft, vehicles, vandalism and malicious mischief, riot and civil commotion, sudden and accidental tearing apart, cracking, burning or bulging, and sudden and accidental damage from artificially generated electrical current.

Replacement Cost: USAA pays replacement cost not actual cash value. You will be reimbursed the amount needed to replace the item.

Storage and in-transit items: Your belongings are covered while in storage or in transient to your next duty station. There are some caveats, so read your policy carefully.

USAA Renters Insurance Pros

USAA has been awarded high scores for customer service, policy options, policy costs, and the mobile app. USAA customer service can be reached at 1-800-531-8722.

USAA Renters Insurance Reviews

As with all reviews, generally the majority are from people who are dissatisfied. According to Nerdwallet, USAA’s auto insurance complaints fell within the median relative to its size. Home and life insurance had fewer than median number of complaints. This suggests that USAA is within generally positive customer satisfaction and ease of making claims.

Our Take

If you fall into the USAA membership qualifications, definitely take a look at their renters insurance. Having an insurance company that understands military life can be very helpful. You’ll find the coverage is expanded and rates are generally competitive.