Usaa: Insuring Florida Homes

USAA offers home insurance in Florida, but only to active-duty military personnel moving to the state who are within 25 miles of the coastline. The company has a reputation for providing some of the lowest insurance rates in the industry, and its customer complaint rate is also very low. However, USAA has been known to deny claims related to hurricane damage, and some users have reported a lack of online purchasing options.

USAA's eligibility criteria

USAA is a member-owned insurance and financial services company that primarily serves military service members and their families. The company was founded in 1922 by 25 Army officers who sought to insure one another's vehicles. Over the years, USAA's eligibility criteria have evolved to include more people. Here are the current eligibility criteria:

• All men and women currently serving in the U.S. military (active duty and reserve) are eligible for USAA membership. This includes active-duty military members of the U.S. Army, Navy, Air Force, Marines, Coast Guard, National Guard, and Reserves.
• Veterans who have received an honourable discharge from the U.S. military are eligible. In 2022, USAA eased membership requirements to include veterans with a general discharge under honourable conditions.
• Cadets and midshipmen at service academies, in advanced ROTC or on ROTC scholarship, and officer candidates within 24 months of commissioning are eligible.
• Pre-commissioned officers can provide proof of their commissioning status, such as a statement from their commanding officer or current orders.
• Family members of current USAA members and those who have served in the U.S. military are eligible for membership. This includes spouses, widows, widowers, and unmarried former spouses of USAA members. Individuals whose parents joined USAA are also eligible.
• Members of certain federal agencies, such as the FBI, are eligible for USAA membership.

It's important to note that once someone joins USAA, they are a member for life, and they can pass on membership to their spouse and children. Additionally, USAA membership eligibility cannot be passed on posthumously. If parents who were eligible for membership are deceased and were not members, their children are not eligible for USAA membership.

USAA's rates

USAA offers insurance to active-duty military members, veterans and their families. Its home insurance includes coverage that often costs extra when issued by other companies, but even so, the company’s rates are still lower than the national average. USAA's average annual homeowners insurance cost is $1,875, according to NerdWallet's rate analysis. This is lower than the national average of $1,915 per year and cheaper than many of the company's large national competitors.

USAA's homeowners policies also include special benefits for members of the military, such as deductible-free coverage for uniforms and coverage of up to $10,000 worth of belongings destroyed in a war. USAA also offers discounts for insuring your car with them, buying and installing certain smart-home devices, being claims-free for at least five years, staying insured by them for three consecutive years, and adding other USAA insurance products.

USAA's coverage types

USAA offers a range of insurance coverage types, including homeowners, renters, life, health, auto, small business, pet, and personal property insurance. Here is a detailed overview of the coverage types offered by USAA:

Homeowners Insurance

USAA offers standard homeowners insurance policies that include common coverages such as dwelling coverage, personal property coverage, personal liability coverage, loss of use coverage, and identity theft protection. Dwelling coverage pays for repairing or rebuilding the home's structure after a covered loss, while personal property coverage protects belongings. Personal liability coverage provides legal protection if the policyholder is sued for accidental injuries or damage caused to others or their property. Loss of use coverage helps with living expenses if the home becomes uninhabitable due to a covered loss. Identity theft protection is also included, covering expenses up to $5,000 in most states.

USAA's homeowners insurance also includes other structures coverage, which applies to unattached structures like pools, fences, or detached garages. Additionally, military uniforms are automatically covered for active-duty or deployed members. Optional coverages include earthquake coverage and home-sharing coverage for those who rent out their homes. Flood insurance is available through the National Flood Insurance Program.

Auto Insurance

USAA provides auto insurance with customizable coverage options. The basic coverage includes bodily injury liability, property damage liability, and liability coverage for legal defence costs if the policyholder is found at fault in an accident. Collision coverage pays for repairs to the vehicle in case of a collision or damage caused by another vehicle or object, excluding animals. Comprehensive coverage protects against non-collision incidents like theft, fire, vandalism, flooding, and more. Medical payments and personal injury protection cover medical bills for the policyholder and their passengers. Uninsured/underinsured motorist coverage is also available for incidents where the at-fault driver doesn't have sufficient insurance. Optional coverages include rental reimbursement and towing/roadside assistance.

Other Insurance Types

In addition to homeowners and auto insurance, USAA offers a range of other insurance products. These include renters insurance, life insurance, health insurance, small business insurance, pet insurance, and personal property insurance. USAA also provides individual and family health insurance for active military, veterans, and eligible family members.

What USAA home insurance doesn't cover

USAA home insurance is only available to current and former US military members, their spouses, and their children. It offers a range of standard and optional coverages, but there are some exclusions.

USAA's standard homeowners insurance policy does not cover damage resulting from earthquakes or floods. However, you can purchase additional coverage for these perils at an extra cost.

Valuable jewelry, art, and other collectibles may exceed the limits of a standard policy and require additional coverage. A swimming pool, trampoline, or other high-risk features on your property may also warrant extra liability insurance.

USAA's standard coverage excludes insect damage. Termite damage may be covered, but only up to certain limits and exclusions. Contact USAA directly to discuss your specific needs.

USAA's standard policy also does not cover damage to your home caused by a lack of maintenance. For example, a roof leak caused by poor maintenance will typically not be covered, but if the leak is the result of storm damage, it usually is covered.

In addition, USAA does not offer bundling discounts in all states.

USAA's discounts

USAA, or the United Services Automobile Association, offers a range of insurance products and financial services exclusively to active and veteran military members, their spouses, and their children. While USAA provides insurance in all 50 states, its eligibility criteria for home insurance in Florida are more stringent.

USAA offers various discounts to its customers, although the exact savings amounts are not disclosed. Here is an overview of the discounts available:

USAA Discounts for Your Driving History:

• Safe driver discount: For maintaining a good driving record for more than five years.
• Defensive driving: For completing an approved defensive driving course.
• Driver training: For taking a driver's education or driver training course.
• Good student discount: For full-time students aged 16-25 who maintain at least a "B" average.
• SafePilot discount: Up to 30% savings for allowing USAA to track your driving habits, including speed, acceleration, and braking.

USAA Discounts for Your Vehicle:

• New vehicle discount: For insuring a brand-new car.
• Multi-vehicle discount: For insuring more than one car on the same policy.
• Annual mileage discount: For driving less than 12,000 miles per year.
• Vehicle storage discount: For storing your car.

USAA Discounts for Your Policy Choices:

• Family discount: For previously being listed as a named driver on a family member's USAA policy.
• Length of membership discount: For being a long-time customer.
• Military installation discount: For storing your car on a military base.
• No payment plan fees discount: For paying your premium in full upfront.
• Multi-policy discount: For purchasing multiple types of insurance from USAA.

In addition to these discounts, USAA also offers special negotiated rates and savings on travel, entertainment, and other services through its USAA Perks program. For example, USAA members can save up to 25% on base rates for Hertz car rentals and up to 35% on rental cars from other companies. They also offer discounts on theme parks, attractions, sporting events, and more.

Frequently asked questions