on October 17, 2016
USAA offers insurance products to American service men and women and their families. If you fit that particular demographic, USAA is an appealing choice for home insurance. But how do its home insurance rates stack up when compared to its competitors? We’ve done the research, looked at rates across the country, and now, we’re here to give you an idea as to what you can expect when choosing USAA.
Of course, home insurance rates are specific to your house and its location. The information here should help you make a decision on whether USAA home insurance might be a good choice, but to get an exact quote, you should call an agent to get a quote.
USAA Home Insurance Quotes by State
USAA will insure you in all 50 states and Washington, D.C. (as long as you’re in the military or an immediate family member of someone who is). We compared rates from 20 states with varying coverage amounts ranging from $100,000 to $500,000. Here’s a sample of the cheapest and most expensive states for USAA home insurance at a $150,000 limit.
|USAA Cost by State||Average Annual Cost for $150,000 in Coverage|
As you can see, South Carolina came in super cheap just $553 per year, or about $46 per month. Kentucky was also very affordable at $605. On the flip side, Louisiana, Kansas, and Oklahoma got much more expensive quotes more than double the SC rate. This could be because these states are prone to natural disasters such as tornadoes and hurricanes, and more risk of damage leads to higher rates.
Next, we look at higher amounts of coverage, at $250,000:
|USAA Cost by State||Average Annual Cost for $250,000 in Coverage|
The most revealing thing about this sample is that to get an additional $100,000 in coverage in some states, you’ll only pay a couple hundred more dollars per year. For disaster-prone states like Kansas, Louisiana, and Texas, the extra coverage may be well worth the relatively small additional cost.
Last, we compared USAA home insurance quotes to its competitors. For our sample, we used Texas, which is the state that USAA sells the most policies. Here’s how it measures up in terms of cost in the Lone Star State:
|How it Compares to Other Companies in Texas||Average Annual Cost|
USAA came in middle of the pack, at $1,077 per year ($90/month). Five competitors beat USAA on average cost, with Farmers Insurance undercutting USAA quotes by nearly $500. That’s nearly half the cost!
Why home insurance costs vary:As the data above shows, the cost of home insurance varies widely by state and by insurance company. It’s important to note that the cost of home insurance is tied to how much it would cost to rebuild your home plus the amount to replace your personal items (under most policies). The higher the chances your house will get burglarized or get damaged by weather, the higher the average cost.
Most popular states for USAA home insurance: A useful way to judge an insurance company’s popularity is its market share, or the percentage of customers a company has compared to its competitors. USAA ranks in the top 10 for 48 states and in the top 5 for 24 states. The states the company touts as most popular based on market share are Alaska, Virginia, and Colorado.
States where USAA sells the most homeowner policies: We also looked at the top 10 companies with the highest market share to see how many policies each sold by state. Looking at sheer volume alone, USAA sells the most policies in Texas, Florida, and Virginia. We looked at the cost of other popular companies to see how USAA faired. Here are the details of our findings:
|How it Compares to Other Companies||Average Annual Cost|
How to Save Money on USAA Homeowners Insurance
USAA home insurance customers can lower their costs in several ways. To get lower premiums, you can increase your deductibles or bundle your auto insurance with a home insurance policy. USAA also offers discounts for its most loyal customers who stick around for several years and have multiple USAA products. Here are some of the most popular money-saving options for USAA customers:
- Family Discount (up to 10 percent off)
- Multi-Policy Discount
- Safety Device Discount
- Non-Smoker Discount
Find more discounts and ways to save on USAA home insurance.
How to Get an Accurate Quote from USAA
It doesn’t take much effort to make sure you get accurate quotes from insurance companies. However, you can take a few steps that could save you time, money, and frustrations:
- Be honest.
- Shop around.
- Ask about discounts.
Always be honest with insurance companies when the agent asks you questions. You’ll be asked about your demographic and home information. You should always shop around when looking for home insurance. Don’t just go with the first offer that you get online or on the phone. Our research has shown that rates can vary dramatically among home insurance companies even for the same homeowner. Plus, you might be eligible for discounts with one company and not with another. Find more ways save money on your home insurance premium.
Customer Happiness with the Cost of USAA Home Insurance
Overall, our research uncovered positive customer reviews turned up positive reviews for the cost of USAA home insurance. Most customers rate highly the company’s affordable rates and discounts. Although there are some complaints over cost, this is to be expected from a company that comes in at about the middle among its competitors. Read more USAA home insurance reviews.
The Final Word: USAA is solid choice for home insurance
Although not usually the cheapest, USAA home insurance quotes are competitive and generally affordable. The downside is that non-military members and their families are not eligible for USAA insurance products. Overall, USAA members appear satisfied with the insurance coverage they get for the annual premium they pay. USAA home insurance is a solid choice from a company that offers impressive insurance products. If you’d like your own USAA home insurance quote, call one of our licensed agents at [mapi-phone /]. You can also get an online quote delivered to you in just a few minutes.
More about USAA
USAA is a financial and insurance company for military personnel and their immediate families. Founded in 1922, USAA built its company on the pillars of service, loyalty, honesty, and integrity. Today, it provides retirement, banking, investment, and insurance services for the men and women who serve our nation. To find out what we found about other aspects of the company, read more:
Before making any final decisions on your insurance company, it is important to learn as much as you can about your local insurance providers, and the coverages they offer. Call your local insurance agent to clear up any questions that you might have. Questions to consider asking include, “What is the best coverage plan for me/my family/my situation?” “What are the minimum coverage requirements in my state and what form of coverage do you recommend?” “Do you guys offer any bundle discounts if I take out both my auto insurance and home insurance with you?” and “What is the average rate of insurance quotes you guys offer?”
Before making any big insurance decisions, use our free tool to compare insurance quotes near you. It’s simple, just plug in your zip code and we’ll do the rest!