USAA was launched in 1922 by a group of army officers who struggled to find auto insurance. Today, the company continues to serve military members and their families, but USAA now offers a wide-variety of financial services and insurance products including umbrella insurance, which is designed to arm customers with additional liability coverage beyond what their auto or homeowner's policy provides. USAA has $28.2 billion in assets and is a Fortune 500 company.
Independent institutions have given USAA excellent ratings regarding the company’s financial stability. USAA has received an Aaa from Moody’s, an AA+ from Standard & Poor’s, an A++ from A.M. Best and an A+ rating from the BBB.
With USAA, umbrella insurance policies can provide the following types of coverage:
- Liability for accidents you’re found legally responsible for.
- Medical payments for those whose injuries you’re deemed at fault.
- Legal defense costs when you’re hit with a lawsuit.
- Extra home and auto coverage for lawsuits that exceed your conventional policy limits.
Annual policies can provide $1 million liability coverage and can cost as little as $19 a month.
USAA sets itself apart from competitors by catering its offerings exclusively to individuals and families within the military community. When it comes to financial stability, USAA’s property insurance divisions have some of the best ratings in the industry. The company has also received amazing feedback from satisfied customers and offers low rates for top-notch protection.
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