That time a PF member hit a deer, USAA insurance discussion

[Willard]

Have been thinking of moving from USAA after well over 20 years for some time. Especially since they divested themselves of several investing services (529s & retirement funds) & we wound up with new accounts with companies we knew nothing of. Also, other issues related to comments this thread of outgrowing what made them successful. Don't want to derail the thread, but monitoring for recommendations on replacement companies for banking & insurance. LL please delete or move if not germane to thread.

[trailrunner]

I'll never do business with State Farm again.

We've had GEICO for a while. Started with auto insurance, and now have homeowner's insurance (which I think is through another company, or the other way around). They've been mostly good to us, and sometimes they've been great.

For banking, we have a local credit union for teachers. They are OK, perhaps a step above a bank, but nothing special. My mom had an account with Navy Federal Credit Union, and I was joint on it. In my mom's later years, I had to take care of her banking, and NFCU was always great. We would switch to them, but all our bills and payments are already set up with our current credit union and it's not worth the hassle to switch.

[holmes168]

i do all my banking with Schwab- which has been outstanding in every way. i can do online bill payments through their website, the customer service has been excellent, and the investing portion of the business has plenty of data to research and low cost on buy/sell trades.


Anyone looking for a solid place for the $$- take a look at Schwab.

[Wake27]

Gross.

I’ve heard a lot of similarly negative things about USAA in the past few years but never had a negative personal experience. Then again, it’s been some time since I’ve used them for any serious banking or insurance issues. I was disappointed in the options that I have when looking at hail coverage a few months ago though. My buddy lays a little more a month for new car replacement whereas I’m stuck with basically getting KBB value if mine gets totaled. He was also take care of very well by State Farm when his basement flooded.


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[Trigger]

I’m ready to leave USAA, but when I shopped around, USAA got some of the best ratings. I’m concerned about another company quoting great introductory rates, and then increasing them a year or two later. I heard GIECO gave out free radar guns to police departments, and then hammering their members with rate hikes if they get a speeding ticket. I’ve heard good things about Chubb insurance, but I’m not sure how wealthy one needs to be to qualify. Lots of anecdotes and hearsay, and I’m short on facts and data.

[BehindBlueI's]

I heard GIECO gave out free radar guns to police departments, and then hammering their members with rate hikes if they get a speeding ticket.

Sort of. And about 30 years ago.

Geico didn't want to cover people who had radar detectors in their cars and there was a legal fight about it. I don't recall the details other then I think Geico lost, so they started donating laser versions to some police departments.