USAA: More Like Family
Written: Jul 20 '00 (Updated Aug 01 '00)
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Pros: Large Company with Many Assets and Services
Cons: Their success may sometimes let you down
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| KrispyKreme's Full Review: USAA Group - Auto |
I have personally been a member/owner of USAA since 1994. And to be honest, I have been extremely please with the service and its reliability over the years.
My Expectations
To fully understand why I rate USAA like I do you must first understand my expectations from a company such as this…Being a military member, I value simplicity and convenience over “the best deal I can get.” No I am not lazy. Its just a hassle to accommodate lengthy services (like auto and home loans) when you move every three years. I love one-stop shopping.
Additionally, shopping for auto, life, and homeowners insurance is not what I consider fun or worthwhile. Really, I compare it to shopping for a washer, dryer, or a refrigerator--just a necessity, not a nicety. By the same token, while I may find the diamond in the ruff on prices today, I know enough to understand that new “deals” will always be just around the corner, and my current “best price” may not be tomorrow.
USAA starts all of their insurance premiums slightly higher than other insurance companies. The offset to this is the fact their premiums go down, versus up at time of renewal if you have a good driving and health record. Also, each year a dividend check is returned to you if the company can afford it. But I do not mind the higher price because USAA just makes my life easier with one-stop shopping. With that said, lets continue…
The Company
USAA was established in 1922. USAA provides diversified insurance and financial services. It is a niche marketer serving the military community. That means that you have to be either in the military or be a dependant of a military member at some point to be offered/extended service from USAA. (No news here) That does not mean, however, that this is a small and unstable company. This is a Fortune 200 company with 55+ billion in assets. In fact, membership has exceeded over 3.5 million current members. It takes 22,000 employees to serve this large membership.
What is amazing about this company is that 95% of all of USAA’s business is conducted through the phone, mail, or internet services.
What I use USAA For
I have multiple accounts with USAA. On the banking and investment side, I have one checking account, one savings account, three auto loans, two IRA accounts, and one regular mutual fund. On the insurance side I posses a homeowners policy, two auto insurance policies and a life insurance policy. (For those of you still reading, yes, I have three car loans and two cars. I financed one car at half its cost and retained my previous fixed unsecured loan.)
What I REALLY NEEDED USAA FOR
Unfortunately, I have needed USAA insurance in every way shape and form. In the least 3 years, I have been involved in auto accidents in both of my cars, and have had my roof blown off of my house by a terrible storm. So I have experience. I just hope that I will never need the life insurance…
I also needed USAA to provide me with a means to track my multiple accounts at one time. Their web services allowed me to do that. I view my entire financial position in on page view. It just takes a few clicks of a mouse button. Best aspect of all.
The Service
In both of my car accidents, I was found not at fault. Both experiences were tough, but USAA was there to help. Each time I called, the personnel were friendly and professional. I received follow-ups both times. Each accident a check was remitted to me within 48 hours to get my vehicle fixed at an approved dealer.
Both times HOWEVER, the process took over 5 months to determine who was actually at fault. This really irritated me. I called the organization constantly, every two days. Each call the claims handler stated that I should not worry and that the investigation is on their way. While, there was actually no need to worry, I did, and 5 months later everything was handled perfectly. JUST NOT ON MY TIMELINE.
I feel that USAA sometimes takes the customer for granted, and sometimes forgets that you want the job done expediently. I think that they know that the organization is usually well-liked and often assume that that their time-line is good for you. They need to change that thinking.
The incident with my house, was actually painless. USAA evaluated the situation, established a contract with a water evacuation and restoration company, and even cut me a check to replace all of my damaged goods. The service was quick, and decisive. No complaints at all!!
Final Thoughts
USAA can relate to the needs of the military. Most of its workers are prior military. That is why they established their company around long distance communication methods. They know how to overcome the communication barrier distance creates. They have all been there before…so a close bond is immediately created between them and the customer. However, close bonds can create tension in the relationship.
In a sense, USAA is like family. So also like family, chances are USAA will find someway to let you down. They did me in some aspects. You just have to learn to forgive and forget. They are not perfect. They are a great company with great products and services and some imperfections.
Recommended:
Yes
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Epinions.com ID:
KrispyKreme
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Member: David Ciesielski
Location: Abilene, Texas
Reviews written: 42
Trusted by: 185 members
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