USAA car insurance in Hawaii (prices, licenses, company)

[terracore]

I got a few online quotes and Geico so far has been the cheapest, and that was even with adding comprehensive insurance to a car that currently only has liability. The next cheapest rate (they were within a few dollars of each other) was Progressive however that was liability only on that vehicle. Altogether USAA is about $800 more expensive per year for slightly less coverage on 3 vehicles. Taking into consideration the $70 rebate we got last year from USAA that still makes them about $730 more expensive.

When we were shopping for home insurance it was the first time we ever dropped a USAA insurance product. Our mortgage requires hurricane insurance and the USAA rate was several times more expensive than another carrier that we went through.

[Mikala43]

Originally Posted by terracore

When we were shopping for home insurance it was the first time we ever dropped a USAA insurance product. Our mortgage requires hurricane insurance and the USAA rate was several times more expensive than another carrier that we went through.

We had USAA on cars and townhouse, when we moved the our hurricane quote was through the roof.

[tweez]

Have had Geico and USAA for auto insurance...have USAA now and would never go back. You get what you pay for.

[flipsidem]

One thing to factor into your thinking on this decision is the Subscriber's Savings Account. Several years back, USAA quit sending the check to me at the end of the year, and they started banking it in a Subscriber's Savings Account. A few years ago I noticed that I had a pretty big balance in my Subscriber's Savings Account. I asked a USAA representative about it. They told me that I had to leave USAA or die to get those funds. I thought that seemed kinda dumb. I switched all my insurance over to State Farm, and USAA sent me a check. A year later I went back to USAA. If you have been with USAA for as long as you can remember, you probably have a big balance in your Subscriber's Savings Account.

[Ralph_Kirk]

Originally Posted by flipsidem

One thing to factor into your thinking on this decision is the Subscriber's Savings Account. Several years back, USAA quit sending the check to me at the end of the year, and they started banking it in a Subscriber's Savings Account. A few years ago I noticed that I had a pretty big balance in my Subscriber's Savings Account. I asked a USAA representative about it. They told me that I had to leave USAA or die to get those funds. I thought that seemed kinda dumb. I switched all my insurance over to State Farm, and USAA sent me a check. A year later I went back to USAA. If you have been with USAA for as long as you can remember, you probably have a big balance in your Subscriber's Savings Account.

USAA must be a mutual company (which wouldn't surprise me, given their intended market), technically owned by policyholders rather than stock holders. So corporate profits go back to policy holders as deposits to a "Subscriber's Savings Account" rather than as "dividends." State Farm, another mutual company, occasionally returns cash to policy holders, but more often uses that money to slightly reduce premiums.

[prospectheightsresident]

Can people give some examples of what they are paying for a 6 month premium with USAA vs. other companies. I'm paying $510 (I could easily get it down to about $450, but wanted a few extra items added on). This is down from a 6 month premium of nearly $1,400 in NYC. Both with USAA.

[leilaniguy]

Geico is $208 every six mo. for $300k for me can you beat that?

[whtviper1]

Listing an exact premium is moot unless we are the same age, address, marital status, and have the same car. USAA wanted about 50% more than what I pay at Allstate.

[Mikala43]

Originally Posted by whtviper1

Listing an exact premium is moot unless we are the same age, address, marital status, and have the same car. USAA wanted about 50% more than what I pay at Allstate.

Yep. And who knows what his policies are, deductible or what types of coverage he has.

[terracore]

I've asked around... there are a lot of USAA folks in my circle. The USAA car and property insurance rates are just higher here in Hawaii than many competitors regardless of age, history etc. This is just a market they aren't competitive in.