Wednesday, March 26th
2025 Business Insurance Provider Reviews
USAA
- Coverage exclusively designed for active duty/retired military members, along with their spouses and children
- Business, general, and workers' compensation policies
- Offers professional liability, cyber liability, umbrella insurance, and commercial auto
- Provides business perks, health/dental/vision, and life insurance
Since the 1920s, USAA has been dedicated to offering banking and insurance solutions tailored to the requirements of military professionals and their families. As a present or former member of the military, or as the spouse or child of one, you can access various business insurance policies through USAA.
Helpful information about business insurance
While you may not find an extensive repository of resources catering to small businesses, you will get the insights necessary to grasp the diverse coverage options before embarking on your insurance journey. Although the information on their site to educate potential business insurance customers is not extensive, it is enough to give a general idea of what is offered and why it is important to business owners.
Only for military members and their families
A notable drawback when considering USAA for business insurance pertains to the company's customer base, which is confined to the Armed Forces. If you do not fall into the category of active duty or retired military (or the spouse/child of someone who is/was), you will not be eligible for their coverage. However, if you meet these criteria, you may appreciate the company's focused approach to your specific needs, encompassing access to banking services, investments, and military life advice.
Start with the basics
Upon applying for a quote, you can search for your business type with a keyword search. We found our "web designer” scenario business right away. You'll be prompted to input the standard details concerning your business, such as the industry, number of employees, business structure (sole proprietorship, partnership), revenue, employees, payroll, and location. Subsequently, you will need to specify the exact types of coverage you require from the 7 kinds offered by USAA, which encompass Business Owners Policy (BOP), Workers' Compensation, Commercial Auto, General Liability, Cyber Liability, Professional Liability (E&O), and Umbrella.
Not a straightforward process to get coverage
It's important to note that during our attempt to obtain a quote for a small translation service, we received a pop-up notification stating that USAA lacked the coverage to meet our needs. This led to a redirection to The Hartford, which, in turn, necessitated logging onto the USAA site. Keep in mind that if you are contemplating USAA for your business policy, you might ultimately find yourself referred to a third-party insurer for your coverage.
BBB alerts
Another aspect of concern is the alerts associated with USAA on their Better Business Bureau listing. These alerts outline actions taken against USAA by the Bureau of Consumer Financial Protection and the Office of the Comptroller of the Currency, likely contributing to USAA's BBB rating transitioning from an "A-" to "Not Rated” since our previous evaluation. While the majority of complaints filed with the BBB are not directly linked to business insurance, the fact that there were nearly 3,500 of them in the most recent 12 months warrants a lower rating.
Reputation is on the decline
For these reasons, USAA has experienced an additional decline in our rankings in the course of our last assessment and this one. The company still projects an image of being a dependable option for various insurance categories, including business policies. Nevertheless, there is clearly an ongoing trend in a less favorable direction.
Hard to recommend broadly for business insurance
We recommend that you consider a higher-ranking business insurance provider; however, it is clear that military service members do still prefer to go with USAA out of devotion to the brand. If you meet the criteria for their coverage and are contemplating them for your business, we suggest promptly reviewing any updates on their BBB profile before finalizing your decision. Additionally, it would be wise for you to compare the coverage offerings with quotes from non-military insurance services featured in our review.
More Business Insurance Provider Reviews
The 10 Best Business Insurance Providers
Where Can You Find the Best Business Insurance?
In a world becoming more legally sensitive, protecting your company from accidents, property damage, or injuries is critically important. It plays a pivotal role in safeguarding a business against a a myriad of risks. And in many states and industries, it's not just a good idea but something you have to do.
Even where it's not required, business insurance is a popular idea. In today's world, companies operate in an environment fraught with risks, ranging from natural disasters and accidents to legal liabilities. Without insurance, these events could lead to substantial financial burdens that might cripple or even bankrupt a business. Insurance policies act as a financial cushion, ensuring that a business can recover and continue operations.
Business Insurance Provider FAQ
Continued from above...
The insurance needs for any business can vary depending on its size. For example, small businesses often have different challenges compared to larger ones. Meeting the insurance needs that big companies can handle with lots of resources can be harder for small businesses. That's because small businesses don't have as many employees, accountants, and lawyers.
The legal landscape is another area where business insurance is indispensable. Liability claims and lawsuits are commonplace in the business world. Without adequate insurance, legal expenses and settlements can pose existential threats to a company. Insurance policies focused on professional liability, general liability, and other specific risks mitigate the financial impact of legal challenges, allowing a business to focus on their core activities rather than litigation.
But figuring out the right insurance can be confusing. After all, it's not an "exciting” business expense, protecting yourself against situations that you hope don't happen, but it's a big help when unexpected things do.
So, how can you figure out the exact coverage and how much you need? Instead of going to a local agent right away, who might not know a lot about small businesses, people are increasingly turning to online searches to find an insurance company with knowledge and specialty in the business world.
As you look into different places to get business insurance, keep these things in mind:
- Types of coverage. Make sure the coverage options available are what you need. Are you limited to basic liability plans, or can you make a policy that's right for your business?
- Convenience. See how easy it is to find information and get quotes on the website. Do you have to talk to someone before you can get coverage?
- Reputation. Has the service or company been reviewed by the Better Business Bureau? Look at what other business customers say about their experience during the application process and after they get the policy.
Today's market has a bunch of top business insurance providers, and the experts at Top Consumer Reviews have researched and ranked some of the best-known names in the industry. Our goal is to help you get the coverage your company needs to protect it from expensive lawsuits, liability issues, and unexpected problems.
Compare Business Insurance Providers
Select any 2 Business Insurance Providers to compare them head to head
Trending Business Insurance News
Related Business Insurance Provider Reviews
Since you're interested in Business Insurance Providers, here are some other reviews you might find interesting.
Newest Reviews
