USAA members that were talking about the dividend checks...

[maryssasmom]

we got ours on monday. I love USAA. wouldn't it be nice if the grocery store, the dr, the electric co, phone co did this too - gave us all rebates for what we spend with them???

 

[NCRedding]

We got a check several weeks ago, but then got a letter today saying that we wouldn't be getting a check

BTW, we've been with USAA several years, and have been happy, BUT, if you are ever on the other side like we were (uninsured motorist coverage claim), they are a BEAR to deal with. Thats the way they keep their costs down!

 

[tiggerlover]

I have USAA and I am curious as to what checks you all are talking about.

 

[tiggerlover]

Well, now I know, my check arrived today. $65.11, not bad for something I wasn't expecting.

 

[jajuan]

Mine came Friday...It was around 85.00. My DGrandmother died last January and we her estate got over 400. She had home and car. I love USAA. I also got a letter yesterday saying that my car insurance would go down and look for packet to follow in a couple of days.

 

[Sleepy]

Well, now I know, my check arrived today. $65.11, not bad for something I wasn't expecting.

Did you get a check when in Italy?

 

[DawnCt1]

a check??? We've had usaa for about 5 years now and never got one.....maybe this is the year???

You ought to call and see if a check has ever been mailed to you. My DS has only had USAA for one year and he received a dividend check for $73. ALSO AN IMPORTANT REMINDER!!! If you have USAA for your homeowners insurance AND Auto, be on the look out for two checks! I received my homeowners insurance dividend Tuesday for $233. The Auto Dividend check came yesterday for $693. We have had USAA since 1987.

 

[PrincessaC]

We've had USAA for several years now and have never recieved a check... We have full liability and col and comp w/ 100 deduct, rental, towing, uninsured.... i feel like we pay alot in insurance how come we never get a check??? we did receive a letter tho stating that they gave us a credit of 8.01 to SSA (Subscriber's Savings Account...) what is that??? does anyone know???

 

[DawnCt1]

We've had USAA for several years now and have never recieved a check... We have full liability and col and comp w/ 100 deduct, rental, towing, uninsured.... i feel like we pay alot in insurance how come we never get a check??? we did receive a letter tho stating that they gave us a credit of 8.01 to SSA (Subscriber's Savings Account...) what is that??? does anyone know???

The Subscriber's Savings Account is an account that somehow gets set up when you join and the dividends are written off of that. When you leave or if you leave USAA you get the proceeds of that SSA. We have over $4500 in ours. Of course I don't know how we will get it because I don't think we would find an insurance company that is a better value. I would call, ask how all of that works and ask why others are getting checks and you are not. I am not sure why DS would get a check when he has only had USAA for 18 months on his own and you wouldn't. Please let us know.

 

[Christine]

We've had USAA for several years now and have never recieved a check... We have full liability and col and comp w/ 100 deduct, rental, towing, uninsured.... i feel like we pay alot in insurance how come we never get a check??? we did receive a letter tho stating that they gave us a credit of 8.01 to SSA (Subscriber's Savings Account...) what is that??? does anyone know???

I just called about this yesterday. Here is the low-down.

USAA insurance consists of three companies:

USAA Property and Casual
USAA CIC (don't know what that stands for)
USAA TIC

If you are the actual military family, you will be in the first company listed. This company has the best (lowest) insurance rates and establishes a Subscriber's Savings Account for the family. Every year, USAA puts money in your SSA. They also give you a percentage of your SSA as a dividend. If that percentage is less that $25, you will get a credit on your insurance bill. If it is over $25, you will get a check mailed. In order to get your money out of your SSA, you either have to leave USAA, die, or get a divorce. None of these are good options are they???

The second two companies are for people who are family members of military people (say if your grandparents are USAA members, you would get placed in one of these companies based on your risk factors). They have slightly higher insurance rates and get no SSA. They also just get a "rebate" check every year for whatever the profit is for that year.

USAA keeps telling me that, as the military member, I am a lot better off than my buddies in the other two companies, but all my friends are getting MUCH bigger checks than I am and I swear there is really no difference in their insurance rates.

 

[Olaf]

Everything Dawn had to say is absolutely correct. USAA is a tiered company, with officer's and their spouses being in the top tier. Your SSA check is based on much you have on reserve in your SSA. We had 3712.32 in our account, and received a check for $185.62, which is around 5%. We used to have home insurance USAA and I think I remember getting two checks like Dawn. I've been told that when you go over 40 years with USAA (we're not there yet), you get an extra 10% dividend which pays in February.

I'm surprised that they were able to pay large dividends this year. However, they have been pulling out of the high risk areas over the past few years by jacking up their rates.

 

[PrincessaC]

hmmm...thx Christine that makes sense I think.... actually... it doesn't make sense... I don't think I'll ever change insurance companies and we're about to get our home owners w/ them... I'm not getting divorced and what will i do w/ the money when I'm dead?

 

[Christine]

hmmm...thx Christine that makes sense I think.... actually... it doesn't make sense... I don't think I'll ever change insurance companies and we're about to get our home owners w/ them... I'm not getting divorced and what will i do w/ the money when I'm dead?

That's exactly the way I feel about it. When you die, your estate will get the money. Really, it's kind of retarded. Unless the woman told me incorrectly but I don't think so.

 

[llij]

Eeeek! I forgot about the check this year! We just got back from Disney and in my zeal to go through the mail quickly, I think I threw our check away. Yikes! My DH isn't going to be happy about that one. Oops, sorry honey.....

 

[Olaf]

Speaking of USAA. My in-laws are visiting, and we got to talking about USAA. They have a small dog, who bit a guest in their house. The bite got infected, and the poor woman had to be hospitalized. USAA ended up paying, but they told FIL that if it happened again, he would be dropped. They've been with USAA over 40 years. If it were my dog, I'd put him down, but I think this just illustrates that USAA can be tough. FIL was also told, that after you've had 3 claims against a policy in one year, they will review you for termination.