USAA Banking and Insurance Review

I have been a steady and loyal customer with USAA since 1975 have NEVER FILED A CLAIM.

I carry the maximum coverage on 2 houses with them and was very surprised this year when they appraied my property and raised my rates by nearly 25%.  My FICO credit score is over 800 and I carry no debt. 

I called them several times and requested another appraisal of my property.  I know what it costs to replace my property to current codes and the price they now charge me  for replacement coverage is totally out of line with the costs in my area. 

They eventually stopped returning my calls.  It is obvious they consider me expendable and their refusal to even consider another appraisal says it all. 

I know the insurance companies have suffered big losses in their investment reserves.  They often invest long term excess funds in real estate and we all know what has happened to that category.  The same applies to equities as well.  I wonder how much they invested in Collateralized Mortgage Obligations? 

For anyone in the same boat as I, my suggestion is shop around.  There are several other excellent quality competitors as rated by A M Best.  Just go to AMBEST.COM for a truly objective rating of insurance companies.  I personally insure my cars with AMICA.  You might want to take a look.