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USAA Boat Insurance Review


ConsumersAdvocate.org Rating: 3.7 / 5 (Very good)
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Founded in 1922 in San Antonio, Texas, United Services Automobile Association (USAA) offers diversified financial services and insurance products to active or retired U.S. military members and their families. The company currently services over 11 million policyholders and extends such products as watercraft insurance, homeowners insurance, and umbrella policies, among others.
 
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How is USAA rated?

Breakdown

3.5/5
Coverage & Benefits
0.0/5
Discounts
4.0/5
Customer Experience
4.0/5
Financial Strength & Reputation

Overall Rating: 3.7 / 5 (Very good)

USAA provides insurance products to active or retired U.S. military members and their families and offers boat insurance coverages for a variety of watercraft, from sailboats to yachts. In partnership with Markel Insurance Company, it also insures vessels priced over $150,000 or longer than 32 feet. Compared with competitors, its website offers limited information on its boat insurance coverages and benefits. USAA does have superior ratings with all of U.S. credit rating agencies and has an A+ rating with the Better Business Bureau.

USAA Coverage & Benefits

Coverage & Benefits - 3.5 / 5

The company claims to cover all types of watercraft, from motorboats and sailboats to yachts. It also advertises customized options and discounts for those who insure multiple watercraft, are claim-free or take boat education courses. Yacht insurance is provided through Markel Insurance Company, a partner of USAA. Since the company doesn't list any information on their boat insurance product beyond stating it includes coverage for accidents, liability, and theft, it's safe to assume only members have access to further policy options and plan details.
Coverages
Collision
Bodily Injury Liability
Property Damage Liability
Type of Boat
Small
Speedboat
Antique
Personal Watercraft
Yacht
Fishing
Sailboats
House Boat
Pontoon Boat
Bass Boat
Leisure Boat
Sport Boat
Discounts
Boat Education Course
Good Boating

USAA Customer Experience

Customer Experience - 4 / 5

USAA offers free online quotes for boat and yacht insurance, yet said policies might only be purchased by members, meaning active or retired military service members and their families. Member benefits with USAA include specialized financial resources, access to knowledgeable representatives, exclusive discounts, live chat, a mobile app, and access to additional educational resources like their online community, newsroom, and blog.
Online Quotes
Live Chat

USAA Financial Strength & Reputation

Financial Strength & Reputation - 4 / 5

USAA has received superior financial ratings from all major credit rating agencies including A.M. Best, Standard and Poor's, and Moody's Financial Services. It has an A+ rating with the Better Business Bureau based on mostly negative customer feedback and holds a low Trustpilot score based on over 33% favorable and 44% unfavorable customer reviews. However, their 2017 NAIC complaint ratio is on par with the national 1.00 average.
Company Type
Subsidiary/ Partner
Year Founded
1922
NAIC Complaint Ratio (2017)
1.0
NAIC Direct Premiums Earned (2017)
$7,853,691,472
AM Best Financial Rating
A++
Standard & Poor's Financial Rating
AA+
Moody's Financial Rating
Aaa
BBB Rating
A+
Number of BBB Positive Reviews
24
Number of BBB Negative Reviews
284
Trustpilot Rating
3.2 out of 10
Date Collected
2018-04-14

Company Profile

Full Name
USAA Boat Insurance
Company Website
https://www.usaa.com/
Headquarters
9800 Fredericksburg Road, San Antonio, TX, 78288

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