USAA is not the company that I signed up with 40 years ago at the Naval Academy. It has become just another insurance (financial services) company that believes that bigger is better. It is not.
My first complaint is the way that I was treated with respect to an uninsured motorist claim. The way it was litigated puts to an end any belief that USAA has any core values or morality; on claims, it is just like most other insurance companies, first denying the claim, then litigating it (against its own member) ferociously, and then deliberately and intentionally procuring a dishonest expert's opinion, which, if you are aware, is a prime consideration when a member has to go to court to obtain the benefits that he/she has paid for (in my case, for 40 years).
My second complaint is that the credit card company issued us new cards, which we did not seek, thereby ending our participation in the more advantageous (Eagle Points) rewards program that we had originally signed up for. We asked on two separate occasions if the rewards program were less advantageous with the new cards. We were intentionally misled in this regard. When we received the cards and the reward program described in writing, as federal law requires, we determined to cancel the cards. When we called to cancel, we were advised that all of our accumulated rewards "had been forfeited" as a result of our decision. We have new cards on better terms and rewards.
My third complaint is that USAA cancelled our windstorm insurance coverage. We live on the east coast of Florida, and this occurred several years ago. This decision could be justified as being in the better interest of all members because the risk is too great. However, the military concept of not leaving someone behind is clearly not present.
Finally, I was able to obtain three times the umbrella coverage for two-thirds the premium. So, the concept of a better price for service members is as much a delusion as better coverage.
Routine service from USAA is good. On-line services are first-rate. And, the company is rated highly for financial strength. But, an insurance company is only as good as its claims department, which really can negate any other perceived benefit. And, better rates and equivalent service are out there.
So, my suggestion to anyone who reads this and has a business relationship with USAA is to check out the competition, unfettered by any delusion that USAA is different because of your service to our country. If a sufficient number of 40-year members quit, then there is always a long-shot that corporate governance could be improved.
Charles H, Cdr, USNR-Ret (USNA 1970)
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