USAA closed 51% of home insurance claims without making a payment in 2025
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Re: USAA closed 51% of home insurance claims without making a payment in 2025
#2USAA doesn't operate its own mortgages anymore. They sell them day one which usually results in another sale or company acquisition within a year. The cure? Take your business elsewhere. FCUs don't have this same reputation and generally open with less predatory rates.
USAA had a great run of building trust and is speedrunning torching it.
Re: USAA closed 51% of home insurance claims without making a payment in 2025
#3> Last year, former USAA CEO Wayne Peacock received $14.1 million in total compensation from five USAA insurance companies for working slightly more than a quarter of 2025 before his retirement. That was a 47% increase from the $9.6 million he received in salaries and bonuses in 2024. Other executives at USAA also received pay boosts in 2025.
At about 1M policy holders that’s about $14 per policy. Not bad for a couple months work.
Re: USAA closed 51% of home insurance claims without making a payment in 2025
#4they've slowly gone from being one of the most progressive and customer focused financial institutions (they invented at home electronic deposit of checks) to a gross regular bank / insurance company.
Re: USAA closed 51% of home insurance claims without making a payment in 2025
#5USAA doesn't operate its own mortgages anymore. They sell them day one which usually results in another sale or company acquisition within a year. The cure? Take your business elsewhere. FCUs don't have this same reputation and generally open with less predatory rates. USAA had a great run of building trust and is speedrunning torching it.
Does USAA sell the servicing too? Most credit unions sell their mortgages, but as long as they retain the servicing rights (which seems to be less and less), the borrower should be in good hands.
Re: USAA closed 51% of home insurance claims without making a payment in 2025
#6they've slowly gone from being one of the most progressive and customer focused financial institutions (they invented at home electronic deposit of checks) to a gross regular bank / insurance company.
It seems like credit unions are basically superior to regular banks. Is this not true?
Re: USAA closed 51% of home insurance claims without making a payment in 2025
#7USAA doesn't operate its own mortgages anymore. They sell them day one which usually results in another sale or company acquisition within a year. The cure? Take your business elsewhere. FCUs don't have this same reputation and generally open with less predatory rates. USAA had a great run of building trust and is speedrunning torching it.
Who should people use instead? I switched to USAA because of their good reputation after bad experiences.
I’ve heard good things about Farmers and USAA. Never anything positive about another.
Re: USAA closed 51% of home insurance claims without making a payment in 2025
#8is it easy or hard to start an insurance company? why isn't there more competition when it comes to insurance?
Re: USAA closed 51% of home insurance claims without making a payment in 2025
#9In a statement, USAA said the association’s data is misleading because it lacks context about why a claim may be closed without payment. Those factors could include claims that were later reopened, claims covered under separate policies or multiple claims from a single event that are consolidated into one case.
“When all factors are included, less than 6% of USAA homeowner claims were denied without payment,” USAA said. “Most claims closed without payment involve losses below a member’s deductible or claims the homeowner chooses not to pursue.”
Re: USAA closed 51% of home insurance claims without making a payment in 2025
#10lets see how corgi holds up in a few years