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@creditwherecreditisdue wrote:I am not so sure that I will. I think I will only have access to all products if my father (who is the twice discharged veteran) joins and becomes an insurance policy holder. That is based on my reading of the current membership reg's if minimally extended to allow him membership privileges. Whether he would be a policy holder or not does seem to make a difference.
An insurance policy is the key.
Its not as easy/direct as NFCU.
@creditwherecreditisdue wrote:
So I have to get dear old dad, a WWII vet, Naval corpsman/Marine to buy an insurance policy thru USAA. If the rates are compelling for Floridians I have a shot. He is rational, just not entirely flexible. Comes with age I suppose.
Looking for auto, homeowner, or both?
@creditwherecreditisdue wrote:
@jackg wrote:creditwherecreditisdue,
As I said in my original post, we will have access to ALL products they offer. Keep checking the web site to see the official announcement before the end of the year.
I am not so sure that I will. I think I will only have access to all products if my father (who is the twice discharged veteran) joins and becomes an insurance policy holder. That is based on my reading of the current membership reg's if minimally extended to allow him membership privileges. Whether he would be a policy holder or not does seem to make a difference.
I think you are right. Currently, if you obtain membership via relationship to a "full" member, that member must have an insurance product in order to pass "full" membership on.
@Anonymous wrote:
@creditwherecreditisdue wrote:
So I have to get dear old dad, a WWII vet, Naval corpsman/Marine to buy an insurance policy thru USAA. If the rates are compelling for Floridians I have a shot. He is rational, just not entirely flexible. Comes with age I suppose.Looking for auto, homeowner, or both?
Do you have either with them in FL, and are the rates good enough to move my father, who is a sharpie off whatever it is he already has? What happens with windstorm coverage if he uses them for homeowners?
@jackg wrote:
@I just spoke with "Jen" @ cust. srvc. about eligibility requirements and she told me that before the end of 2009 they will open up membership to all past service members who served honorably. They may require DD214 as proof but it's not certain. We will be offered all their products including credit cards which include a co-branded AMEX. They do not pull your credit report when you apply for membership.
Yup, got the same info a couple weeks ago. The person I spoke to told me to call/app online the first week of December.
I've been a member of USAA since the 80's. I'm not sure if this is revelant, but as far as not pulling credit scores, they sent me this via my online document correspondence yesterday dated 9/9/09 which states they are moving more towards doing this if your state allows. Here is the exerpt:
At USAA, we're committed to providing our policyholders with fair and competitive pricing.
We're writing to inform you that we've made a filing with your state to use credit based
insurance scores when determining insurance premiums. If our filing is approved, we'll use
these scores to underwrite your policy and help determine your next property policy premium.
You may see an increase or decrease in the cost of your coverage.
In determining the prices for our insurance products, we take many factors into account. For
example, we consider home location and construction materials when determining property
insurance premiums. We may also use credit based insurance scores in states where
permitted. These scores are effective in predicting future losses and are widely used by insurers.
Together, these factors enable us to establish the best price possible on your insurance
premiums.
Additionally, I have never missed a payment ever with them and this summer received a "bump" letter on my account (a friendly reminder that your payment is coming due and they haven't received it). I called because, as said, my account was up to date but the CST said they are adopting more stringent policy restrictions due to the financial climate.
They are a good company and have many of their products. The subscriber savings account kickback is the best!
@Anonymous wrote:I've been a member of USAA since the 80's. I'm not sure if this is revelant, but as far as not pulling credit scores, they sent me this via my online document correspondence yesterday dated 9/9/09 which states they are moving more towards doing this if your state allows. Here is the exerpt:
At USAA, we're committed to providing our policyholders with fair and competitive pricing.
We're writing to inform you that we've made a filing with your state to use credit based
insurance scores when determining insurance premiums. If our filing is approved, we'll use
these scores to underwrite your policy and help determine your next property policy premium.
You may see an increase or decrease in the cost of your coverage.
In determining the prices for our insurance products, we take many factors into account. For
example, we consider home location and construction materials when determining property
insurance premiums. We may also use credit based insurance scores in states where
permitted. These scores are effective in predicting future losses and are widely used by insurers.
Together, these factors enable us to establish the best price possible on your insurance
premiums.
Additionally, I have never missed a payment ever with them and this summer received a "bump" letter on my account (a friendly reminder that your payment is coming due and they haven't received it). I called because, as said, my account was up to date but the CST said they are adopting more stringent policy restrictions due to the financial climate.
They are a good company and have many of their products. The subscriber savings account kickback is the best!
Message Edited by simonator on 09-12-2009 05:31 AM
I just initiated a quote with USAA on auto insurance and they softed by CR.
1. USAA and pretty much all banks and credit unions pull credit upon initial account opening.
2. USAA has routinely used FICO risk modeling for insurance rates for a long time where they are permitted to by law.
(I personally have problem with this since they issue you the credit lines and then charge you more for your car insurance for using said lines)
3. USAA is not, on its face, the cheapest car insurance for the average driver. In my and many people's personal experience the NFCU/GEICO discount is cheaper by a few dollars a month. But having an insurance product is their "golden" ticket so to speak.
This is more then compensated by the USAA Subscriber Savings account, and the enhanced services/discounts/eligibilities you receive having a USAA insurance product.
4. There are many Retired and Current officers still grumbling about the fact that USAA opened its membership to enlisted. RHIP, and many officers are very upset that the unwashed enlisted got into their previously O only Club.
For USAA to grow as a company, especially in these years of draw downs and the decrease of the sizes of the officer ranks, expanding membership is the only way for them to generate new revenue.
The Auto Insurance lines of USAA is a huge profit center for the company. Look what Warren Buffet did with the money he made buying/expanding GEICO.
Edited to add:
I really wish USAA would not use the Honorable Discharge qualifier since, well, it really does not mean much.
I know of one person who became a member before her court martial and is still a member today with a BCD.
And another who became a member after I told him about USAA with an OTH
So many people do not receive Honorables for a variety of reasons, that it can be said that a large percentage of people who do receive Honorables simply didn't get caught.
The difference between an Honorable and a General is a check box your CO marks. Its all purely administrative and can be quite capricious.
After all, Timothy McVeigh got an Honorable Discharge.
Question: My sister was married to a Lt Col (I think) in the army for about 10 years. Divorced over a decade ago. She has kept her insurance with USAA...loves their service and products.
She was never in the service. She is at USAA because her ex was in the service.
Would I qualify to join because my sister is a member and has their insurance products?