USAA Dividend Seems Low This Year

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Just got my USAA dividend for around $40 when I'm used to seeing it between $100 to $150. Has this happened to any other members?

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It seems they didn't issue a dividend for Garrison, which is the company that issues policies to non-service-members (su... (more)

DecaturGuy (Jan. 15, 2012 @ 6:32p) |

? I am a child of a USAA member. It makes me a full USAA member(traditional). I've never heard of Garrison. My insurance... (more)

imbatman (Jan. 15, 2012 @ 7:01p) |

I emailed USAA and asked why I didn't receive a dividend (I'm Garrison- and I'm a grandson of retired navy)

This is their... (more)

tjguitar85 (Jan. 15, 2012 @ 9:42p) |

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Ah, never mind. Looks like the answer is yes. Link.

Yeah, pretty low. Mine was $61.00. Sign of the times I guess.

how about premiums going up too?? anyone?

"This year, despite being the costliest catastrophe year in USAA's history, we continued to maintain our financial strength. As a result, we are pleased to put money back in your pocket with this year's distribution from your Subscriber's Account. This distribution is a benefit of your membership in our association, and it's just one of the things that make USAA different from other financial services companies."

vickh said:   how about premiums going up too?? anyone?

Not only did my premiums go down at renewal time, but a few weeks afterwards I tripled my liability coverage, and it barely went up (like $20 total) -- even the phone rep was surprised. I guess that's why I was caught off-guard by the 70% reduction in the dividend.

My dividend was $15.55. Premium went up slightly because they said it had been wrong before due to banking link.

Mine was like 28, i think last year it was 60ish?

er3456 said:   vickh said:   how about premiums going up too?? anyone?

Not only did my premiums go down at renewal time, but a few weeks afterwards I tripled my liability coverage, and it barely went up (like $20 total) -- even the phone rep was surprised. I guess that's why I was caught off-guard by the 70% reduction in the dividend.


I'm going to call. Do the phone reps have access to why premiums went up or is it a secret sauce??

vickh said:   er3456 said:   vickh said:   how about premiums going up too?? anyone?

Not only did my premiums go down at renewal time, but a few weeks afterwards I tripled my liability coverage, and it barely went up (like $20 total) -- even the phone rep was surprised. I guess that's why I was caught off-guard by the 70% reduction in the dividend.


I'm going to call. Do the phone reps have access to why premiums went up or is it a secret sauce??

Whether it's a secret sauce or not, I've never gotten them to budge even after showing them competitive quotes for hundreds less.

Our 2011 SSA dividend amounts (from Feb & December) were almost exactly equal to our 2008 SSA dividends, and about 14% less than most other years.

Our 2011 auto insurance premiums were lower by 7.2%, and our 2011 home owner's insurance premium was lower by 10%.

Can you cash out the dividend and go shopping with it?

whodini said:   Can you cash out the dividend and go shopping with it? Depends what level of membership I think. The SAA account, no. But I don't have an SSA account as a CIC member. My CIC dividend can be paid as a paper check, direct deposited, or credited towards my bill. I just credit it towards the bill.

BostonOne said:   vickh said:   er3456 said:   vickh said:   how about premiums going up too?? anyone?

Not only did my premiums go down at renewal time, but a few weeks afterwards I tripled my liability coverage, and it barely went up (like $20 total) -- even the phone rep was surprised. I guess that's why I was caught off-guard by the 70% reduction in the dividend.


I'm going to call. Do the phone reps have access to why premiums went up or is it a secret sauce??

Whether it's a secret sauce or not, I've never gotten them to budge even after showing them competitive quotes for hundreds less.


Secret sauce for sure, although I think it's a reasonable possibility my premiums went down due to increased discounts for the age of my vehicle, clean driving history, additional USAA products on my account, and length of my account with USAA. My collision and comprehensive went down significantly more than my liability, perhaps due to the depreciation of my car. I suspect premiums can also be affected by the amount of total claims in your zip code, and perhaps your individual claims history and even your credit score.

My refund was about $20 this year which is less than previous years. Honestly they seem to have been on the low(er) side for some time now. I seem to recall in the 90s there were in the $150-200 range.

USAA has always told me exactly why the rate has gone up or down. Sometimes it has to do with state ratings. This year they told me I had been receiving a discount which I shouldn't have been receiving.

I apparently didn't receive a dividend, but my policy has only been active since the end of August....

If I recall correctly, USAA has opened it's membership from Military and Military dependents to everyone lately. Maybe this has something to do with it.

Looking4morecents said:   If I recall correctly, USAA has opened it's membership from Military and Military dependents to everyone lately. Maybe this has something to do with it.

Auto and property insurance is still restricted. It's more likely "This year...being the costliest catastrophe year in USAA's history..." is the reason.

This was posted on their FAQ on their site:

2011 has been an extraordinary year in terms of catastrophic events for the insurance industry and USAA specifically. USAA's financial results have been impacted by almost $1.4 billion in catastrophe losses, more than double the amount from last year. 2011 is by far the most costly catastrophe year in USAA history, exceeding the 2nd costliest year by more than $500 million. The range of catastrophes was so widespread that only eight states avoided catastrophes, and seven of the 2011 catastrophes rank in the top 50 most costly events for the Property and Casualty insurance industry going back to 1989.

More than 200,000 USAA members were personally impacted by these catastrophes in 2011 and we are proud to have been able to serve them in their time of need. However, the financial impacts associated with these events were so much greater than anticipated, it necessitated that the Subscriber's Account and policyholder dividend distributions be smaller than in 2010. We are pleased that our financial strength permitted us to provide members with these distributions in the face of such an extreme catastrophe year.

It isn't just USAA, every insurance company had major financial impacts from this years weather.

And the low interest rate environment will force insurance companies to hold on to more cash as result of lower returns.

heck of a year indeed

I am glad you posted on this, since this is the first year I chose to use USAA for auto ins and the dividend was surprisingly low (28). My father in law always gets around 200 per year, so I was wondering if it was a longevity thing.

How do you check dividend amount? I can set dividend to credit checking or insurance bill but it doesn't say the amount.

motsuka said:   How do you check dividend amount? I can set dividend to credit checking or insurance bill but it doesn't say the amount. Check your December statement online.

er3456 said:   motsuka said:   How do you check dividend amount? I can set dividend to credit checking or insurance bill but it doesn't say the amount. Check your December statement online.

Nothing listed. I guess 3 months isn't long enough to get a dividend. We'll see what I get next year.

whodini said:   Can you cash out the dividend and go shopping with it?Yes

It seems they didn't issue a dividend for Garrison, which is the company that issues policies to non-service-members (such as children of traditional USAA members). :/

? I am a child of a USAA member. It makes me a full USAA member(traditional). I've never heard of Garrison. My insurance is identical to my dads (ret. navy)

I emailed USAA and asked why I didn't receive a dividend (I'm Garrison- and I'm a grandson of retired navy)

This is their response:

Distribution of automobile insurance dividend amounts are not guaranteed. Each year, we evaluate the results of our insurance operations to determine whether an automobile insurance dividend can be declared. The factors evaluated may include the regulatory and financial requirements of USAA, USAA s investment portfolio, and its operational performance in 2010 and 2011. This was a challenging year for USAA, with a record number of catastrophes and a difficult economy. Dividends are approved by the board of directors of each company based on the individual financial performance of each company. As a result, no board of director dividend approvals were granted for policies written by USAA County Mutual Insurance Company (USCM), USAA General Indemnity Company (GIC), and Garrison Property and Casualty Insurance Company (Garrison).



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