Pros: Low premiums, fast and prompt service, and barely any hold time, always in your corner.
Cons: If you think of any let me know.
I'm actually an employee for USAA, that's how I became eligible. Keep in mind though in order to keep my eligibility I have to stay with the company for at least 5 years, otherwise they non-renew all my insurance. Of course this prevents people from trying to get a job there just to get insurance.
First of all their training is extensive, you have about 5 weeks of full-time 40 hour/week training before anyone even takes one single phone call, not including additional 1 week of orientation that they take to make everyone familiar with the company, people they are going to work with, and members they are going to serve. They spend a whole day to make sure each employee understands at least a little bit of what our military members go through and things they have to sacrifice in order to serve our country. Moving at moments notice, uprooting at least once every couple of years, being apart for months and sometimes years at a time, missing the births of their children and many other important things in their families' lives and all that for very little pay each month (trust me, I know what the monthly income of each pay grade is, and USAA is aware when there's a rate increase of even $10/month, for an enlisted it IS a big deal). As agents, employees do try to solicit other things to the members, but not because the employee gets a commision (they are all salaried) but because USAA's members use services like banking, life insurance, investments, consumer loans and so forth elsewhere already and if USAA can give them a better service AND save them money then employees have definitely serviced beyond just taking care of the immediate need.
Every time I call about my auto insurance policy myself, I usually wait 10-20 seconds before someone answers. As far as my premium is concerned, let me outline. When I switched to USAA from Progressive my insurance went down from over $1,300/6 months to just over $900/6 months, about $800/year! Because of Progressive canceling my policy without notifying me I have to carry an SR-22 (State Financial Responsibility) due to AZ's strict mandatory insurance laws (By the way Progressive has a class action suit pending against them in several states for doing the same exact thing to thousands of other people).
Because of my SR-22 and probably because of my poor credit score I'm being placed in High Risk Pool and probably paying triple of what I should be paying with USAA, I have no accidents or tickets on my record period.
I thought that until the SR-22 got cleared off my record (you have to have for 3 years) I could get better rates somewhere else then come back to USAA. Imagine my "surprise" when I called around the closest company to match USAA premium was GEICO, they were only $400 more per year!
Then best thing is even though USAA, along with 99.9% of all insurance companies, uses credit score as a factor to determine rates in many states, unlike with other companies your payment history with USAA becomes your credit score after 18 months. Meaning that even though it might take years and years to improve your credit, you can still get the lower rates without waiting that long as long as you pay USAA's bills on time. Perfect payment history equals perfect credit score after 18 months!
Being insured with USAA for only 1 year I've already had 1 Comprehensive claim, my vehicle was stolen. Normally you have to wait 48 hours before getting a rental vehicle (if you have rental reimbursement) in case of theft, just in case your car got repossesed, you let some one borrow it and forgot about it, or you just misplaced (trust me, it happens). Well my adjuster advised me if I rented at Enterprise I could get a car that same day and USAA would take care of it no problem. Through out the whole ordeal I've talked to my adjuster probably only 3 times, didn't need more than that. The only aggravating thing was that it took 30 days for the repair facility that was recommended by USAA to get the car in proper shape. Plus I think that USAA got snowballed on the deal because they paid out way more than I felt necessary for the repair, $900 for repairing the dash and cleaning the car! At least I know not to use that shop again. Because of some things that were stolen from the car and small damages that were too little to fix, USAA reduced my deductible from $500 to $134 plus sent me an additional check for about $350. Never had a doubt that they would come through for me.
But most of all USAA doesn't have to answer to stockholders and worry about showing a big profit at the end of the year. USAA is owned by the members! Their percentage of ownership is the percentage of the premium they pay. So when I speak with a member, I definitely treat them with the respect my BOSS and OWNER of the company deserves to be treated with, and definitely want to make sure they know that I personally appreciate them sacrificing so much for so little!