Is USAA a good insurance company?

UPDATED: Sep 19, 2011

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UPDATED: Sep 19, 2011Fact Checked

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Asked September 19, 2011

1 Answer

USAA is short for United Services Automobile Association, and the name tells you a lot about the company. Where other insurance companies accept military employees, USAA only insures people who belong to the United States Military. They are listed in the Forbes 500 at 189 for revenue and 78th for total assets. The company has more than 113 billion dollars in assets and has written insurance policies totaling more than 9.1 billion dollars in 2006.

Financial Rating
USAA is rated A++ by A.M. Best, and equally well by other companies, including AAA ratings with Standard and Poor and Moody's, both. Holding the highest possible financial ratings means that customers don't have to worry about the company becoming solvent, and investors can put their money into the company in good faith, with expectations of a profitable return on investment.

Customer Satisfaction
In online polls, USAA nets a 53% customer satisfaction rating. This is much higher than some companies with larger revenues and sales, and indicates that USAA treats their customers well and works diligently to resolve problems when they occur. Nobody can guarantee that your experience will be exceptional, but you can at least start out with the knowledge that the company is well-thought of by the customers.

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Company Availability
As you might expect t from a company that serves the United States military, USAA has national reach, including Washington DC. And because they are specialize in military employees, you can rest assured that if you have to move to another state, USAA can help you transfer your insurance to avoid a loss of coverage.

The Bottom Line
Not only is USAA insurance available throughout the country, they have an excellent record with their current and former customers. For you as a policyholder, that means you are getting exemplary customer service along with affordable rates and nationwide coverage. For potential investors, it means that your money is well cared-for and there are no nasty surprises waiting just around the next stock market worry.

Answered September 19, 2011 by Anonymous

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