USAA employees awarded a record 18.8 percent bonus (San Antonio, Howe: sales, renters)

[hadleyzoo]

Been with USAA myself for about 15 years. My homeowner's insurance rate went up $200 this year (a 25% increase--that must be where the employees are seeing their bonus ). Not pleased at all...no I've made no claims, had no claims against me, nothing. If the rates go up next year, I will be shopping around for that portion.

My rates go up for no apparent reason (at least in my eyes), yet the employees get a huge bonus? Yeah, I don't get it. This really torques me.

[Verio]

Originally Posted by hadleyzoo

Been with USAA myself for about 15 years. My homeowner's insurance rate went up $200 this year (a 25% increase--that must be where the employees are seeing their bonus ). Not pleased at all...no I've made no claims, had no claims against me, nothing. If the rates go up next year, I will be shopping around for that portion.

My rates go up for no apparent reason (at least in my eyes), yet the employees get a huge bonus? Yeah, I don't get it. This really torques me.

I'm not sure how their rates are computed... but I went from driving a 2004 VW Passat to a 2010 Camaro SS (400hp+). My rates went down :-\

[hadleyzoo]

Originally Posted by Verio

I'm not sure how their rates are computed... but I went from driving a 2004 VW Passat to a 2010 Camaro SS (400hp+). My rates went down :-\

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.

[tonyled]

Originally Posted by RonLumbergh

While I am quite happy for the employees of USAA, I must voice a bit of displeasure with the overall direction of the company. Simply stated, the insurance rates of USAA are less competitive than they were a decade ago. An 18.8% bonus is surprising, especially as I am on the verge of dropping USAA as a property insurer on account of uncompetitive rates. It would appear that the eunuchs are clearly running the palace out on I-10.

Personally, I think USAA is trying to grow "too big" and has become a different company in a quest for market expansion. Once upon a time, it existed for the sole purpose of providing insurance and financial services to military officers and their families - and was simply peerless in this effect. As we the USAA insured "own" the company, there simply is no need to pacify institutional investors or shareholders with policies that boost stock price, as there is no stock. Even a decade ago, USAA was a bit of a "botique" company that advertised membership being an earned priveldge, and was practically a fifth-column of officer benefits. In the rush to bring this fruit to the masses, I think the core is slowly decaying. I don't like how thin the risk pool is spread by offering membership to all manner of federal and military employees. I don't like their increasingly less competitive insurance rates. I don't like how they coast on the brand of 1995 while eschewing those things that made them special in the first place.

USAA's friendly banking system and customer service (as well as willingness to legally anhillate the other party in an auto collision) was a great bonus to a clientele that was dispersed all over the world. I can't help but think that this service will suffer as USAA's banking is now open to the general public, slowly morphing into SACU. USAA was a company where nearly any problem could be resolved with a frank phone call, and you were treated like an officer. When combined with unbeatable insurance rates, this was a world class company. Now it is just a very good company.

An 18.8% bonus for USAA is terrific for the city, and an example of how much better eating from the hand of private enterprise is compared to siphoning "stimulus" money. The employees of USAA deserve every cent for their professionalism and dedication. I simply hope that USAA will be content with its slice of the pie and work on getting insurance premiums back down.

i emphatically agree

[TXEX06]

Didn't hear much complaining around here when USAA handed out large subscriber savings/dividends back in December to its members.

[mrstxcop]

Not sure what is going on with USAA's rates either --- when i was employed there the rates were good, but USAA has always been high on the homeowners rates ... i heard that from insureds all the time ...

15months ago, when we were fixing to close on our new house I shopped around other insurance companies thru a broker ... i received apx 5 other qoutes from other companies and found that while other companies have much lower homeowner rates, their auto rates were very high ... making very little difference in what i would pay with them vs. what i was paying thru USAA ...

USAA has always had good auto rates but HO rates, not so much ... My homeowners went up this year as well, with no claims ... I am thinking I am going to shop around again in another month or so, just to see what's out since the last time I shopped rates...

[hadleyzoo]

Originally Posted by TXEX06

Didn't hear much complaining around here when USAA handed out large subscriber savings/dividends back in December to its members.

Wow. I got a whole $75. Didn't even come close to the increase in my homeowners policy nor my vehicles policy.

[mrsb057]

Originally Posted by hadleyzoo

Wow. I got a whole $75. Didn't even come close to the increase in my homeowners policy nor my vehicles policy.

Well considering you added a youthful driver you may want to call and see if all applicable discounts are being applied.

When my father in law added my brother in law to his auto policy it jumped enormously. Turns out they had my brother in law assigned to their new 2010 ford fusion and not the 96 liability only acura integra...when they assigned him as an occasional driver of the acura the premium dropped by almost 140 bucks per 6 months. THis can make a huge difference considering he isnt a primary driver of any of the vehicles and only drives on weekends since both my inlaws work... I dont know your situation but if your youthful driver doesnt have a primary car or drive to school/work everyday you may want to see if they can reduce the premium for that too. since his exposure on the road is minimal compared to him driving regularly

I think he also was receiving the good student discount and driver school discounts...

Good luck and hope that helps.

[hadleyzoo]

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.

[TXEX06]

Originally Posted by hadleyzoo

Wow. I got a whole $75. Didn't even come close to the increase in my homeowners policy nor my vehicles policy.

Too bad you don't have a subscriber savings account, those people get a lot more back.