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USAA Motorcycle Insurance Review

USAA Motorcycle Insurance Review

Author
  • Customer Service
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  • Coverage

USAA (United Services Automobile Association) has been a top notch insurance company for years. They are currently ranked among the top 10 automobile insurance companies in the United States and hold a significant percentage of the overall market share. USAA is a company geared towards individuals that have served in the United States military. They offer great insurance policies at exceptional rates to individuals that have been in various military services as well as their families. This company is heavily rooted in military tradition and has been passed down for generations through military families.

USAA is a company that only offers insurance to those who have served in the military. One common misconception is that USAA is open to the general public – that is false. This may confuse some because USAA banking is open to everyone – military and non military. However, in terms of auto and motorcycle insurance, you will not be able to get USAA unless you have a direct family member that has served in the military or you yourself have served in the military. So before you even take the time to read this review and consider USAA for motorcycle insurance, you should determine whether you are eligible for coverage. If you or someone in your immediate family was in the military – perfect.

USAA Company History

USAA was originally founded in 1922 by a group of 25 United States Army officers. They formed this company to insure each other when they were unable to purchase auto insurance through other companies due to the fact that members of the military were considered “high risk.” Early on there was suspicion that individuals in the military carried too much risk, so these individuals without insurance began to self-insure each other. The first member who purchased insurance was Major Walter Moore – getting a policy for $114.74.

This company was originally named the United States Army Automobile Association, but later changed its name in 1924 to United Services Automobile Association when other branches of the military were included. In 1924, the motto for USAA was “Service to the Services” – that motto is still reflected today. By 1928, USAA had grown to over 8,000 members. By the year 1929, this company was making profits exceeding $100,000 per year.

From 1931 to 1940 and throughout the Great Depression, the number of USAA employees had doubled from 46 to 99 and the membership rates had increased from 15,000 members to over 30,000 – this was very significant. By the late 1930’s, over half of all eligible U.S. military officers were members (60%). From 1941 to 1945, USAA continued to grow and assets continued to gain significance. Despite World War II, membership rates continued to increase and profits continued to increase for USAA. By the end of the decade, USAA had reported over $3 million in profits.

In 1951, American Business Magazine chose to list USAA among the 100 best offices in the U.S. In the next few years, USAA would expand to write policies in Europe and increase its membership growth by 43%. Throughout the 1950s, USAA would go on to open its first European office in Frankfurt, Germany as well as increase company efficiency with IBM computers. By 1960, USAA was reporting annual profits of nearly $16 million. In the early 1960s, employees of USAA wore bracelets to honor servicemen that were MIA or POWs.

In 1961, USAA adapted a new rule: “Once a member, always a member.” This meant that when an officer resigns his commission or leaves the service, they can still maintain or renew their USAA coverage. In the 1960’s, USAA also started providing homeowners insurance as well as life insurance. At this time USAA also began assisting high school students – preparing them for jobs and considering them for employment. They also were honored for hiring handicapped individuals in 1967. By 1970, USAA had grown to over 700,000 members and was reporting net profits of over $23 million. They had also formed a Gulf Coast disaster team to help members in the storm area.

In the 1970s, they had begun providing mutual fund services and in 1972, it was already the company’s 50th anniversary. By this time, five-out-of-six active duty military officers were members of USAA. In 1973, USAA insured ex-dependents through their USAA Casualty Insurance Company – and opened a couple of new offices. They also formed the USAA Investment Management Company in 1976. One year later, USAA had reached $1 billion in total assets. USAA also added toll-free phone services to members in the continental United States and was making a net profit of almost $200 million by 1980.

USAA also opened a Federal Savings Bank as well as Buying Services in 1983. By 1990, USAA was worth $16.5 billion and had over 2 million members. In 1992, Fortune magazine named USAA one of “America’s Most Admired Companies” and one year later it was listed as one of the 100 Best Companies to Work for in America in Fortune magazine. Eligibility for USAA coverage was extended to all enlisted service members in 1995 – and the USAA bank was named best bank in the U.S. In 1996, USAA established an Ethics Office and became among the “100 Best Companies for Working Mothers.”

By the year 2000, USAA had launched a website USAA.com – allowing their customers the freedom of online transactions. They also had grown to exceed 3.6 million members and had $58.9 billion in assets. After the tragedies of 9/11 – they were the only insurer invited to participate in the Department of Defense’s Survivor Assistance Center. In 2002, USAA won the J.D. Power & Associates’ Chairman’s Award. By 2003, 96% of all active duty officers were USAA members and 44% of those enlisted in the military are members.

In 2007 and 2008, USAA received high praise from Business Week magazine – getting named Customer Service Champ. By 2010, USAA had sponsored TV specials in support of our troops, introduced an online car buying service, and expanded eligibility to retirees, those honorably discharged, widows / widowers of military killed in action, spouses, children, etc. They had reported annual earnings of $423 million by 2009. USAA also began sponsoring the Army-Navy football game, and formed alliances with the VFW and American Legion.

Despite the economic collapse of recent years, USAA has continued to grow. They expanded their mobile capabilities, online capabilities, and have been named one of the nation’s most innovative companies by Infoweek. They have received great customer service accolades and is still among one of the “Top 100 Companies to Work For” in the United States. They are a Fortune 500 company and insure nearly 9 million members. They have come a long way since forming in 1922 and they are clearly a standout insurer in the United States.

USAA Motorcycle Insurance Coverage Options

The most important aspect of any motorcycle insurance policy is the coverage. If you have a policy but don’t have the coverage that you need, you aren’t going to feel comfortable as a driver. In order to maximize your comfort on the road, make sure that the company you choose for your motorcycle insurance provides the coverage that you need. Below is what USAA insurance has to offer for coverage. Update: USAA now outsources their motorcycle insurance to Progressive. You can read the Progressive review for more information regarding coverage.

Bodily Injury Liability – If you are responsible for causing an accident and the party you hit gets injured, you are liable to pay for the injury. You will have a certain amount of coverage towards bodily injury in the event that you are liable.

Collision Coverage – If you ever collide with another vehicle or object and it causes damage to your motorcycle, this type of coverage pays for the damage. In other words, when you collide or have a “collision” with something and it leads to damage, this is what helps pick up the cost.

Comprehensive Coverage – Think of comprehensive motorcycle insurance as coverage for things other than collision. In other words, this helps insure you from theft, vandalism, weather damage, animal damage, etc.

Custom Parts / Equipment – Should you have a motorcycle equipped with customizations, you probably want insurance. If you have a custom set of wheels or chrome finish, you will want to get insurance so that you won’t pay out of pocket for damages. Also you can insure general riding equipment such as helmet, gloves, vest, etc.

Medical Payments – You may have heard of “MedPay” – which is coverage for medical payments resulting from an accident. Some accidents rack up tens of thousands of dollars in medical payments. It’s probably a smart idea to make sure you are satisfied with your medical insurance as a result of an accident.

Property Damage Liability – If you are in an accident that causes a significant amount of damage to another individual’s property, your insurance should help pick up most of the tab. You may want to consider buying more than just the minimal state requirements just to be on the safe side.

Underinsured / Uninsured Coverage – Anytime you get hit by someone that is underinsured or uninsured, things can turn into a nightmare. Fortunately you can get extra insurance coverage just in case the driver that hits you doesn’t have coverage or enough insurance to pay for all of the damages.

Roadside Assistance – Should your motorcycle ever break down and you end up stranded on the road, you will be able to get roadside assistance. Purchasing this with your policy is a good idea if you take your bike on a lot of long trips. They will get your motorcycle to a repair center and pay for all expenses.

USAA Motorcycle Insurance Payment Options

Since USAA pretty much has outsourced their motorcycle insurance to Progressive, most of the payment options will remain the same as what is offered there. Really the only major difference is that USAA may provide additional discounts for being enrolled in the military or having a family member in the military. Below are the standard payment cycle options. As of now the two most popular ways to pay are “in full” or “monthly.”

Full Payments – If you decide to opt for “full payments” this involves paying for an entire year’s worth of insurance upfront. Although this is generally a pretty large single payment, the overall total is cheaper than paying month-to-month. Additionally, you will get a discount if you pay for your annual coverage in full.

Monthly Payments – If you cannot afford a large upfront payment or to pay the full installment, you can pay each month. The month-to-month generally isn’t much of a hassle for most people and allows them to make smaller, more manageable payments in comparison to one huge payment.

USAA Payment Methods

  • Automatic Payments
  • Credit Card
  • Electronic Funds Transfer
  • Mail
  • Mobile
  • Money Order
  • Online Check
  • PayPal
  • Personal Check
  • Phone

Does USAA offer paperless billing?

Yes. Unfortunately most people are not aware of whether USAA allows paperless billing statements because they do not mention it on their website. There is a lot that goes unmentioned on their website until you actually sign up and become a member. Once you are a member, you can decide to opt for paperless billing. Most of the major insurers discuss the fact that paperless billing can help save the environment and reduce clutter. Despite the fact that USAA doesn’t really talk about going paperless online, once you have set up an account, you can easily choose this option.

USAA Motorcycle Insurance Discounts

One of the best perks about being a member of USAA is saving money. Not only do you get great coverage, but you get it at a great price. USAA is able to keep costs low because they are a company that only allows military members and their families to join. This company was established to help individuals in the military save. If they didn’t offer good deals on their insurance to members of the military, they may choose a different company. There is a reason that people choose USAA – the savings in tandem with the quality.

Defensive Driving – If you take a USAA approved course to improve your defensive driving skills and education, you can save money.

Driver Training – If you have completed any basic driver training course, you can save yourself money. Most insurance companies offer a similar discount for completion of a safety or training course.

Family Discount – By continuing the tradition of getting USAA in your family that your parents started, you can save up to 10%.

Good Student – If you have good grades in school (high school or college), you can save money on your policy.

Loyal Member – If you stick with USAA and renew your coverage, you become eligible for the loyal member discount.

Multiple Products – If you buy multiple products through USAA such as automobile, life, and health insurance, you can save by bundling.

Multiple Vehicle – Should you insure multiple motorcycles or a motorcycle and another vehicle with USAA, you could stand to save even more money.

New Motorcycle – If you insure a brand new vehicle (specifically 3 years or newer), you may be eligible for additional savings.

Safety Course – If you have taken a safety course, you can save up to 5% on your coverage. Just make sure the safety course was approved by your insurance agent.

Safe Driver – Maintain a good driving record for more than 5 years and receive a discount.

Seasonal Discounts – USAA helps you by offering seasonal discounts depending on when you drive your motorcycle. This is to reflect the actual riding season in your state.

Storage Savings – If you are insuring a stored vehicle with USAA, you could save up to 90% on your premium.

A.M. Best Rating: A++ (Superior)

A.M. Best rates all of the major insurance companies to determine the overall financial strength of the company. USAA was found to have a rating of “A++” which is “Superior” compared to most companies. This means that USAA should have no problem funding your claims and getting you the help that you need on time. Most of the top insurers in the United States have a good rating with A.M. Best, but not all of them are as strong as USAA. As a company, the United Services Automobile Association (USAA) is doing quite well with their assets – so this is not a cause for concern.

Most independent USAA reviews online are favorable of the company. Based on hundreds of collected reviews. the average review would give USAA a 4.5 stars out of 5. In other words, they would have received 90% favorable reviews – this is pretty darn good considering all of the complaints online regarding insurance companies. Most people that have purchased motorcycle insurance through this company think that they have a great selection of available policies and above average customer support.

Eligibility: Who is eligible for USAA insurance?

People often raise questions regarding eligibility for USAA insurance.  Many people with a family member in the military aren’t sure whether or not they can get the same coverage as their family member that served.  The following individuals are eligible for USAA coverage:

  1. Enlisted members of the U.S. Military
  2. Active, retired, or honorably separated officers in the U.S. Military
  3. Individuals in related programs such as ROTC, Academy, OCS/OTS, etc.
  4. Adult children whose eligible parents have had USAA auto or property insurance
  5. Widows / widowers of USAA members who have had a USAA auto or property insurance policy

If you are still confused about eligibility, feel free to give USAA a call and discuss your unique scenario.  Often times the most confusing scenario is when you are related to someone like an uncle or grandpa who served in the military and had USAA.  Typically you can only get coverage if your parent was the one who served in the military and/or had a USAA policy.

Get Free USAA Motorcycle Insurance Quotes Online!

The individuals that choose USAA are in the military and are choosing them because they provide military members with great deals on insurance. In most cases it is wise to still take the time to compare USAA to other companies just in case there is a company that provides a better rate on motorcycle insurance. Many other insurance companies also have savings for individuals that were or are currently in the United States military. If you are in the military, it would make the most sense to bundle all of your insurance policies with USAA to maximize savings.

If you do not need automobile insurance and are solely looking to insure your motorcycle, you may want to get a few quotes from other companies. Word on the block is that USAA has begun outsourcing their motorcycle insurance policies to Progressive.

You should use the Zip Code form below or at the top of this page to check if there are companies providing lower rates in your area. The quotes are free and you can quickly compare all of the top motorcycle insurers with a few easy clicks.

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