Best Car & Home insurance! USAA and Amica

Here’s how to qualify from 2 selective companies that offer amazing coverage!

Tip: If you served in military, you automatically qualify for USAA. See below.

source: consumer reports.

For more than 10 years, two insurers [see below] have consistently landed at the top of Consumer Reports’ ratings of car insurance and homeowners insurance: USAA and Amica. Both earn high marks for claims settlement, service, and overall customer satisfaction.

 

Here’s another reason you want to apply:

What’s more, if you’re a policyholder, USAA and Amica pay you any surplus they earn, through annual dividends. And it’s no chump change: Amica’s homeowners insurance dividend has averaged 25 percent of the premium and 20 percent for car insurance annually over the past decade.

 

Amica

Who’s Typically Eligible for Coverage:

Amica Insurance, based in Lincoln, R.I., offers policies that are available in every state except Hawaii and are open to anyone who wants to apply. In Alaska, it offers only car insurance, though, and in Florida, you can get an Amica homeowners policy only if your home is new construction and built to be windstorm-resistant.

Amica says that, in general, homeowners and drivers with high credit scores and a three-year record without a violation, accident, or homeowners claim are the ones most likely to get its best rates. Like many other carriers, Amica also uses an “insurance-based” credit score to determine a consumer’s creditworthiness. Insurers maintain that creditworthiness correlates with the likelihood of making a claim, a position Consumer Reports rejects.

These criteria are used by all insurers in pricing and offering policies, but Amica admits to being particularly stringent. “We focus on how responsible customers are in taking responsible actions in the future,” said Benjamin Mellino, an Amica spokesperson. “Some companies might have less stringent underwriting depending on the demographics they serve.”

You probably have a good idea of your past claims history for your homeowners or car insurance policies, but what about your credit score? If your recent claims history is clean, a high FICO credit score (the credit score used by most lenders) might be your ticket to a great rate from Amica.

 

USAA

Who’s Typically Eligible for Coverage:

These insurances are mainly for active U.S. military and veterans.

USAA lists the following groups as eligible for membership:

• Active Duty, Guard or Reserve
• Individuals who are currently serving in the U.S. Air Force, Army, Coast Guard, Marines, Navy, National Guard, and Reserves
• Veterans
• Those who have retired or separated from the U.S. military with an Honorable discharge
• Cadets and midshipmen at U.S. service academies or affiliated academy preparatory schools, in advanced ROTC or on an ROTC scholarship, plus officer candidates within 24 months of commissioning.

If you’re not sure whether you could qualify, call USAA at 800-531-USAA (8722) to have a conversation with a USAA representative. The automated phone system assumes you’re already a USAA member, so after the recorded prompt, say “representative.” You’ll get the same message again; repeat “representative.” Then when prompted as to what you’re calling about, say “membership.”