USAA started in the 1920s when 25 U.S. military officers in San Antonio insured each other’s automobiles. The company then expanded, adding a full range of insurance coverages to sell only to military members and their families. USAA provides life insurance, car insurance, umbrella insurance and renters insurance, and it’s considered one of the best renters insurance companies. USAA also offers banking, credit cards and retirement planning for servicemembers and veterans.
The company uses its exclusivity to offer active-duty military members, veterans and their families great rates and coverages. Many military families find the best value in insurance from USAA, which is why we at the MarketWatch Guides Team chose it as our top renters insurance pick for military members. Read on to learn how we made that decision in our USAA renters insurance review.
Pros and Cons of USAA Renters Insurance
Comparing the pros and cons of renters insurance from USAA can help you decide if it’s the right policy for you.
USAA Renters Insurance at a Glance
USAA State Availability
USAA renters insurance provides coverage in 50 states and Washington, D.C. In addition, USAA coverage includes overseas insurance for members who are deployed or are moving abroad, based on eligibility requirements.
All 50
Cost of USAA Renters Insurance
The average monthly insurance cost of a USAA renters policy is $13.75, or $165 a year. That’s lower than the national average costs of $180 a year and $15 per month. According to USAA, some members can get renters insurance coverage for as little as $10 per month.
Cost of USAA Renters Insurance by State
USAA Discounts
You can save on USAA renters insurance premiums through discounts, although eligibility may vary. Several of USAA’s biggest insurance discounts are only available to certain members, such as:
- Bundle renters and USAA auto insurance policies
- Claims-free discount
- Protective devices like security systems
- Living on base, including in barracks and other on-base housing
- Service academy enrollment, a discount for members residing at a U.S. military academy
USAA Renters Insurance Reviews
We wanted to get a better idea of how customers feel about their experience with USAA renters insurance. We looked through hundreds of reviews on the Better Business Bureau, Trustpilot and other sites. We also took into account ratings from the 2022 JD Power Home Insurance Study. Although USAA doesn’t qualify for a ranking through JD Power, the insurer’s customer satisfaction score was 886 out of 1,000.
While overall ratings on review sites were low, many reviewers seemed genuinely surprised by the overall rating. Most positive reviews mention excellent customer service and below-average rates. Many positive reviewers have been customers for several generations.
However, negative reviews came from long-time customers who are unhappy with recent service. A majority of the negative reviews we found mention long customer service wait times and rates no longer being competitive. Several negative reviewers have no problems with the products but aren’t happy with the cybersecurity on the website and mobile app.
Check out a few reviews from real customers to get an idea of how they see USAA renters insurance:
“USAA is the single best company I have ever worked with… The customer service and speed are incredible. In fact, the reason I even started working with them is because my friend lost her home in a fire and they paid full insurance immediately. They are a great company to work with. You hope to never need them, but when you do, they don’t nickel and dime and fight you.” — Adeline C via BBB
“I personally hold USAA renters and car insurance, and the rates I receive are excellent compared to competing companies. I’ve also called in several times for maintenance on my rates, so I have first-hand positive experience with customer service representatives. I understand that there are regulatory requirements that USAA has to abide by, and they do just that! From speaking with their customer service representatives, it’s clear they have no ill will toward their clients and will work diligently to provide them the best experience possible. I enjoy being a member at USAA, and will continue to do so moving forward!” — Alexandria M via BBB
“I have been a customer for several years, and I have had no issues with customer service, financing or anything, really. The issue I have is that the security of the site leaves much to be desired. Passwords are limited to 12 characters, and the two-factor authentication methods available are either insecure (SMS, e-mail) or are on a proprietary app/platform that I would only use for this account. I think USAA should take a look at what is happening in the cyber realm right now and bump up [security].” — Steven N via BBB
“They’ve always made my life simple, but I feel like their rates aren’t any better than the competitors anymore.” — Milly N via Trustpilot
The Bottom Line
USAA is one of the best renters insurance options for members of the military, veterans and their families. The company offers deep discounts on renters insurance for those living on base or residing at a military academy. If you qualify for these discounts, USAA is likely to be one of the most affordable options available.
Even if you’re not living on base or at an Academy, USAA offers renters insurance for military members at a rate that’s often comparable to or lower than competitors. Additionally, all USAA renters policies include coverage for earthquakes and flooding, which is usually excluded from coverage. USAA coverage could be the right fit if you live or are stationed in an area prone to either natural disaster.
Not everyone qualifies for USAA coverage. You won’t be able to get a policy if you’re not a qualified service member, veteran or certain family member. Even if you qualify, it’s always a smart move to get insurance quotes from a couple of different carriers. If you’re looking for technology-driven, efficient service, you might want to check out Lemonade. For affordable coverage and a human touch, State Farm uses a network of agents to provide insurance products for renters.
Tara Seboldt is a writer specializing in insurance and personal finance. Prior to writing full-time, Tara spent several years in the financial advisory and life insurance industry. She uses her professional background to help readers better understand complicated (and sometimes boring) topics. When she’s not writing, you’ll find Tara hiking with her dog, riding her horse or planning her next ski trip.
