With the number of layoffs USAA is going through you must question their financial status and leadership status, As we have read there have been compliance fines ranging in the realm of $100M. Think I will start moving away from USAA before it sinks.
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There are more layoffs coming. There is talk about laying off about 10% of the bank workforce. With the mortgage department taking the biggest losses. This is a sad time to work there.
I got cheaper (house and car) with Allstate.
I can’t find anything cheaper either. I can find about the same but with less coverage and a higher deductible.
After being with USAA for over 30 years and being laid off earlier this year, I decided to shop around for auto/home insurance. I wanted to get that $8k in my Subscriber Account. I did online quotes with all of the name brand carriers and found that USAA was thousands of dollars cheaper for more coverage. Believe me, I really wanted to show the same loyalty to USAA that they showed to me by taking my business elsewhere, but it's just not worth it.
Maybe that's why USAA is losing so much money. They aren't charging the right rates. But, as of now, I am thankful for that. I know they are raising rates across the country, so it will probably catch up to me at some point.
True but old news