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Old 01-29-2010, 10:42 AM
 
1,276 posts, read 3,433,838 times
Reputation: 700

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Quote:
Originally Posted by TXEX06 View Post
Too bad you don't have a subscriber savings account, those people get a lot more back.
According to USAA, a subscriber account "is not a bank account where you can make deposits or withdrawals. Rather, itís an account in your name where USAA capital is held and managed by the USAA Board of Directors, according to the USAA Bylaws."

When a member purchases his/her first property and casualty policy, USAA opens a Subscriberís Account in that memberís name to hold a portion of USAAís capital.

I do have a subscriber savings account. However, this is not paid out to its members. The USAA BoD may (or may not) allocate funds to the Subscriber Accounts each year. This money is not dispersed where a member is given a check or can make withdrawals (because if they did, I'd be about $4,000 richer). However, the USAA BoD may distribute portions of those funds from subscriber accounts to members after they consider regulatory and financial requirements of USAA. Which I believe is what they did this year--they took some of that $$ from the SA's and distributed it to its members or applied it toward future insurance payments (which is what I had done).
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Old 01-29-2010, 12:59 PM
 
1,791 posts, read 2,434,535 times
Reputation: 1421
Quote:
Originally Posted by hadleyzoo View Post
According to USAA, a subscriber account "is not a bank account where you can make deposits or withdrawals. Rather, it’s an account in your name where USAA capital is held and managed by the USAA Board of Directors, according to the USAA Bylaws."

When a member purchases his/her first property and casualty policy, USAA opens a Subscriber’s Account in that member’s name to hold a portion of USAA’s capital.

I do have a subscriber savings account. However, this is not paid out to its members. The USAA BoD may (or may not) allocate funds to the Subscriber Accounts each year. This money is not dispersed where a member is given a check or can make withdrawals (because if they did, I'd be about $4,000 richer). However, the USAA BoD may distribute portions of those funds from subscriber accounts to members after they consider regulatory and financial requirements of USAA. Which I believe is what they did this year--they took some of that $$ from the SA's and distributed it to its members or applied it toward future insurance payments (which is what I had done).
Hmmm, I've seen members get hundreds of dollars deposited into their subscriber savings account each year. But, this all depends on how much premium you paid that year.

You will get all the money in your SSA account if you cancel all your lines of insurance.

I'm not trying to defend USAA, they are not that competitive in some states.
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Old 01-29-2010, 01:17 PM
 
1,276 posts, read 3,433,838 times
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Oh yeah...I got a couple hundred dollars deposited in to my SA account each year for the last couple years too (because insurance rates have gone up)...but that money is not dispersed to the member to do with as they wish. It's sort of like having an investment or holding account that you can never touch. Unless, of course, like you said you cancel your USAA insurance all together.
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Old 01-29-2010, 06:42 PM
 
Location: Kallison Ranch, San Antonio,TX.
1,668 posts, read 3,351,670 times
Reputation: 720
I want to apologize for my ASS Comments the other day. I was not implying that all USAA Employees are ASSES. If you have ever gone through a Lawsuit you more than likely know why I said what I did. Trust me suing anyone was the last thought on my mind. It was the last thing I wanted to do.


My Sister in Law worked there 30 years and I never heard her complain once. She too was well compensated.
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Old 01-29-2010, 11:17 PM
 
Location: NW near Sea World...and in a house
546 posts, read 1,312,105 times
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Quote:
Originally Posted by hadleyzoo View Post
We have all the discounts for the driving. I have asked specifically about these when we added her and they do show on our policy. I also know that adding a 3rd, brand new vehicle didn't help either.

Again, my issue isn't with the AUTO insurance because like I said previously I understand that those rates went up due to a teen driver and new vehicle addition.

HOWEVER, my homeowner's went up 25% this year---that's what I don't get. And I called them yesterday and they babbled on about increasing costs (uh-huh---your bonuses right?!), etc. Needless to say I am going to be shopping around to see what else is out there. Oh, and I asked if USAA would match the rates of another insurer if I found an identical insurance policy....they told me no they don't price match.
Yea I dont see them price matching... From what I remember one rep telling me the more products you have with them you can receive discounts on other policies and such.. I have heard that they arent competitive with the homeowner policies...i wouldnt really know cause they wouldnt insure mine (I had a renters policy and had a dog bite claim made against it...for some dumb kid waltzing into my house and getting bit...but thats totally my fault for not watching a kid i didnt even know was in my house ) So They non renewed my renters and wont write my new home because of it. I secured my home owner with another company which i still dont like. USAA does tend to explain everything more thoroughly than other companies and I know what im paying for...my Howeowner policy with this new company wasnt really as detailed at USAAs paperwork..makes me a little uneasy.
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Old 03-26-2011, 10:36 AM
 
1 posts, read 4,567 times
Reputation: 11
The only internal goal that USAA has not reached in the last few years is "Productivity", i.e. hire less and cheaper employees. You are very lucky if you actually talk to someone that knows what they are doing when you call for any type of service. The USAA rep will sound cheerfull and "confident", but that may be masking their ineptitude. Most all employees in customer service are working an exit plan as the company now empasis sales over proficient service. You will always encounter an upsell or cross-sell on ANY type of service call (unless you are lucky enough to reach a representative that is ignoring management pressure. In regard to membership, the eligibility has been dilluted even more than what was mentioned in previous posts. Keep in mind eligibility flows downward and sideways from an initial member that may have met the actual requirements. Lots of members are children, grandchildren, ex-wifes and their new spouses, their kids, etc. etc. The actual number of military being serviced is proportionately smaller and smaller as USAA drives on in their quest of growing bigger and bigger. A recent affiliation has WWII vets calling in for membership. USAA cannot usually beat their current policies as far as premium, so they are offered a very cheap Valuable Personal Property Policy (as low as $2 a month) JUST to establish elibilbility for their children who are not veterans, etc. As the previous post mentioned, the drive for growth, simply for growth's sake doesn't make sense...unless of course you are in the senior executive corp with 7 figure incomes. Note how USAA does not make executive compensation available for review...wonder why. The board is paid off to rubber stamp what is presented to them. Another interesting point for such a "patriotic" company, are the large number of "in-sourced" Indian workers that USAA imports to their San Antonio facility. Their numbers are growing by leaps and bounds. A very interesting employment policy during a period when US unemployment is at such a high level, yet USAA profits are at an all time high!...
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Old 03-26-2011, 10:47 AM
 
3,141 posts, read 5,159,284 times
Reputation: 1748
Quote:
Originally Posted by Sirloinjones View Post
Note how USAA does not make executive compensation available for review...wonder why.
Unless shares of the company are publicly traded on the open market, they don't have dislcose that kind if information.
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Old 03-26-2011, 05:32 PM
 
872 posts, read 1,633,140 times
Reputation: 440
Quote:
Originally Posted by hadleyzoo View Post
I'm not sure either. My auto rates tripled, but I understand why that is....we added a new car (to the 2 we already had) but then also added a teen driver to the policy too.
For anyone who has/or will add a teen driver. USAA (and probably most companies) will rate the teen driver against the most expensive car on your policy. If you call them and tell them to rate the teen on the least expensive car, they will...but only if you ask!!! I did and it reduced my auto premium over $100 a year.

As for homeowners insurance...I'm making the move to a different company due to USAA's rates. Love their service but they are getting too expensive.
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