USAA Renters Insurance Review 2024

Unlike most companies, USAA covers flood and earthquake damage for renters. But its policies aren’t available to everyone.
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Written by Sarah Schlichter
Lead Writer
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Assigning Editor
Fact Checked

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USAA

5.0

NerdWallet rating 
Strong coverage for active military, veterans and their families.

Coverage options

More than average

Discounts

Great set of discounts

NAIC complaints

Far fewer than expected

USAA

5.0

NerdWallet rating 
Strong coverage for active military, veterans and their families.

Coverage options

More than average

Discounts

Great set of discounts

NAIC complaints

Far fewer than expected

About USAA renters insurance

5.0

NerdWallet rating 

USAA renters insurance earned 5 out of 5 stars for overall performance and is among NerdWallet’s Best Renters Insurance Companies for 2024. USAA serves veterans and active members of the military, offering renters policies that are more comprehensive than most. Nearly every insurer will cover things like theft and fire damage, but USAA also covers your stuff if it’s destroyed by flooding or earthquakes. (Insurance for these disasters typically costs extra from other companies.)

Even with this additional coverage, USAA renters insurance is less expensive than the national average, according to NerdWallet’s rate analysis.

To buy renters insurance from USAA, you must be a USAA member. The following people are eligible for membership:

  • Active members of the U.S. military, including the National Guard and reserves.

  • Military veterans who were honorably discharged.

  • Precommissioned officers.

  • Children of USAA members.

  • Spouses of active military or veterans.

  • Widowed spouses of USAA members, or divorced spouses who haven’t remarried.

Our star ratings are based on consumer complaint data from the National Association of Insurance Commissioners; financial strength grades from AM Best; coverage and discounts available; and the overall consumer experience. See our criteria for evaluating renters insurance companies.

Our writers and editors follow strict editorial guidelines that ensure fairness and accuracy in order to help you choose the financial products that work best for you. Here is a list of our partners and here’s how we make money.

Where USAA stands out

Generous coverage. It’s tough to find a renters insurance policy that will cover flood and earthquake damage, but USAA’s does. Add replacement coverage for your personal belongings, and USAA has some of the most complete coverage available for renters.

Customer satisfaction. USAA draws very few consumer complaints to state regulators, and its renters insurance scored highly for consumer satisfaction in J.D. Power’s 2023 Home Insurance Study.

Where USAA falls short

Availability. Only active military, veterans and their families can buy USAA renters insurance.

State availability

USAA renters insurance is available in all 50 states and Washington, D.C. It may also be available if you're stationed outside the U.S. Contact USAA directly for specifics.

Availability may change at any time. Coverage may not be available to all renters in a given state.

USAA renters insurance coverage

Landlords sometimes require tenants to purchase a policy with a minimum amount of renters liability insurance, but otherwise, the coverage you choose is generally up to you. Below are the four types of coverage included in most standard renters policies:

Type of coverage

What it does

Covers your clothing, furniture, electronics and other belongings.

Pays for hotel stays, restaurant meals or other expenses if you have to live elsewhere while your home undergoes covered repairs.

Pays out if you're responsible for injuries to other people or damage to their property.

Covers injuries to other people in your home, regardless of fault.

USAA also includes the following types of coverage, which often cost extra from other companies:

  • Flood insurance. USAA works with the National Flood Insurance Program to cover your items in case of flood damage.

  • Earthquake coverage. USAA will also pay for damage due to earthquakes.

  • Replacement cost coverage. Some renters policies cover your items on an "actual cash value" basis. That means if a fire damages your 5-year-old leather recliner, the insurance company would pay out only what the chair is worth at the time of the accident (likely far less than what you originally paid for it). With replacement cost coverage, USAA will pay you enough to buy a new recliner.

USAA doesn’t charge a deductible if your military uniform or equipment is damaged in a covered claim. The company may also cover your belongings if you’re deployed overseas or living outside the U.S.

You can pay extra to add the following types of coverage to a USAA renters policy:

  • Electronics. Adding USAA’s tech package gives your gadgets additional coverage beyond what’s offered in a standard renters policy. Say you spill coffee on your laptop keyboard or lose your phone on the subway — USAA will cover your device, minus a $250 deductible.

  • Valuable personal property. Got expensive jewelry, musical instruments or guns? Because renters policies often have limited coverage for these items, you may want to buy extra insurance to be sure they’re fully covered. Unlike your renters policy, the valuable personal property coverage has no deductible. An appraisal may be required.

USAA renters insurance rates

The average annual cost of USAA renters insurance is $142 a year, or about $12 a month, according to NerdWallet’s rate analysis. That’s cheaper than the national average of $148 per year. Here’s how USAA’s rates stack up against some of its competitors.

Company

Average annual cost

$115.

$168.

$188.

$203.

$142.

*USAA renters insurance is available only to active-duty military members, veterans and their families.

Our sample rates were calculated for 30-year-old renters with a $500 deductible, $30,000 of personal property coverage and $100,000 in liability coverage.

Discounts

Depending on where you live, you may be able to save on your renters policy by:

  • Bundling it with a USAA auto policy.

  • Not filing any claims.

  • Adding a home security system, automatic sprinklers or monitored fire alarm.

  • Living on a base or in a service academy.

Consumer complaints

USAA received far fewer home insurance complaints to state regulators than expected for a company of its size, according to three years’ worth of data from the National Association of Insurance Commissioners. (NAIC home insurance complaints also cover other home policy types, including mobile home, renters and condo insurance.)

Consumer experience

Website: You can use the USAA website to get a quote, pay your bill, view policy documents and file claims. The website offers general insurance information plus advice on topics such as preparing for natural disasters and life in the military.

App: The company’s highly rated mobile app lets you access your insurance policies and other USAA products, such as bank accounts and credit cards. You can use the app to pay bills, report claims and see policy information.

Claims: You can submit a renters insurance claim online or through the app. Once filed, you can log into your account to track the status of your claim. If you have trouble, you can call USAA’s main number at 800-531-8722.

Customer service: You can get answers to quick questions from USAA’s “virtual agent,” send a message through the website or call 800-531-8722.

Current Product

USAA Renters Insurance
Nationwide Renters Insurance
Travelers Renters Insurance
NerdWallet rating 

5.0

/5
NerdWallet rating 

4.5

/5
NerdWallet rating 

4.5

/5

Complaints to NAIC 

Far fewer than expected

Complaints to NAIC 

Close to expected

Complaints to NAIC 

Fewer than expected

Coverage 

More than average

Coverage 

About average

Coverage 

About average

Discounts 

Great set of discounts

Discounts 

Great set of discounts

Discounts 

Great set of discounts

Bottom line 

Strong coverage for active military, veterans and their families.

Bottom line 

Renters insurance coverage with a few useful add-ons.

Bottom line 

Renters insurance coverage from a large, tech-friendly company.

Other renters insurance companies to consider

Not ready to make a decision? You may be interested in these other renters insurance companies:

Frequently asked questions

Your policy covers your spouse, domestic partner, children or other family members, but unrelated roommates will need their own policy. Learn more about sharing renters insurance with roommates.

Yes, USAA covers your belongings while they’re in a storage unit either in the U.S. or overseas.

USAA also sells auto, homeowners, boat and life insurance, among other policies. Learn more about USAA auto insurance.

Methodology

Renters insurance star ratings methodology

NerdWallet’s renters insurance ratings reward companies for customer-first features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer complaints, coverage options, discounts and online experience. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our full renters insurance rating methodology.

Insurer complaints methodology

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2020-2022. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

Renters insurance rates methodology

To find the average cost of renters insurance in the U.S., NerdWallet calculated the median rate for 30-year-old tenants from multiple insurance companies in every ZIP code across all 50 states and Washington, D.C. Sample tenants were nonsmokers with good credit and no recent claims, living in a two-bedroom apartment. They had a $500 deductible and the following coverage limits:

  • $30,000 in personal property coverage.

  • $100,000 in liability coverage.

  • $10,000 in additional living expenses coverage.

  • $1,000 in medical payments coverage.

We made minor changes to the sample policy in cases where rates for the above coverage limits or deductibles weren’t available.

We then compared the insurer's median rates to the median rates for other companies.

These are sample rates generated through Quadrant Information Services. Your own rates will be different.

In This Review . . .