For policyholders who need affordable rates, quality customer service, and benefits tailored to the needs of military members, USAA business insurance may be a good choice.<\/p>
United States Automobile Association (USAA) is a popular name in the insurance industry and for a good reason. For several years running, USAA has topped customer satisfaction and financial ratings for auto insurance with some of the cheapest rates available. It is also active within the military community, helping active-duty and veteran military families with their unique challenges.<\/p>
Today, it offers several types of insurance for families in addition to auto insurance, such as homeowners insurance, renters insurance, life insurance, and health insurance. It also includes several financial products, including bank and investment options. With easy online quotes and special resources specific to military life, USAA is an ideal insurance company for any kind of insurance.<\/p>
USAA members can purchase a business owner’s policy, or BOP, along with:<\/p>
USAA\u2019s BOP bundles three common types of insurance for convenience: General liability, commercial property insurance, and business income insurance.<\/p>
General liability insurance, also called business liability insurance, protects you and your assets when you or your company are responsible for paying someone\u2019s medical expenses, attorney fees or damage.<\/p>
Business liability policies typically exclude employee injuries, vehicle-related incidents and intentional acts of harm, which require insurance protection under different products. General liability insurance is included in USAA\u2019s business owners\u2019 policy, or can be purchased as an individual product.<\/p>
Workers’ compensation insurance is required in many states if your business employs contractors and\/or employees. This coverage can cover medical expenses and lost wages for workers who sustain work-related illnesses or injuries.<\/p>
If your professional service or advice goes awry, USAA professional liability insurance protects your small business from claims of negligence or financial harm. This type of insurance is also known as errors and omissions insurance, or E&O.<\/p>
USAA professional liability insurance can be added on to any business insurance policy.<\/p>
As cybercrime increases each year, cybersecurity insurance helps businesses cover expenses and costs associated with digital data breaches and other cyber breaches.<\/p>
Umbrella insurance provides an additional safety net of financial coverage. If your company is required to pay for a catastrophic claim, an umbrella policy kicks in once you reach the liability limit on another policy.<\/p>
Applicants seeking USAA commercial auto insurance will be connected with insurance providers through USAA\u2019s partner network.<\/p>
Commercial auto coverage can include up to five standard components: Liability insurance, medical coverage, comprehensive, collision and uninsured or underinsured motorist coverage.<\/p>
USAA lists several scenarios in which a small business could benefit from commercial insurance coverage:<\/p>
If you are a USAA member who drives for a delivery or rideshare company like Uber or Lyft, you can add rideshare insurance to a personal auto insurance policy instead of purchasing commercial auto insurance.<\/p>
Business income insurance, also called business interruption insurance, is another component of USAA\u2019s business owners\u2019 policy. This pays out when your business operations are disrupted by circumstances out of your control. You can use business income insurance to pay for lost revenue, payroll, taxes, and more.<\/p>
A BOP from USAA also includes commercial property insurance, which covers expenses related to your physical place of business. This coverage protects your building, inventory, furniture and equipment if it is damaged or lost, as well as any signage, storage sheds, landscaping and fences.<\/p>
Depending on the incident, as well as policy coverage, your commercial property insurance also could include property owned by others.<\/p>
The average cost of USAA’s commercial insurance policies ranges from $22 to over $129 per month, and is mainly based on your business’s: Industry, Location, Gross Sales, Employees and\/or Payroll, Policy Limits, Endorsements, Deductibles, Experience & Claims History.<\/p>
USAA\u00a0has been in business since 1922, serving the military community and their families. Because its auto insurance is only available to military and veterans, USAA is not ranked in\u00a0J.D. Power’s auto claims satisfaction\u00a0(had it been ranked, it would have tied for third). USAA is also the best option for military members in Insider’s guide to the\u00a0best car insurance companies.<\/p>
USAA offers comprehensive, collision, full, liability, and uninsured and underinsured coverage. It features a safe driving program with the opportunity to get discounts,\u00a0telematics-enabled claims\u00a0for faster processing times, and rideshare coverage for Uber and Lyft drivers. It also offers discounts for vehicle storage, safe drivers, good students, and completion of a driver’s training course. <\/p>
Like most insurance companies, USAA also provides discounts for bundling your home and auto insurance.<\/p>
There are four types of insurance coverage:\u00a0liability insurance\u00a0(required by most states),\u00a0comprehensive,\u00a0collision, and\u00a0full car coverage. If you lease or finance your car, your lender may require comprehensive and collision coverage.<\/p>
Because USAA’s homeowners’ insurance is limited to military and veterans, it’s not ranked in\u00a0J.D. Power’s homeowners’ customer satisfaction survey. However, its members were surveyed, and had it been included on the list, USAA would have ranked No. 1. USAA also ranked No.1 on Insider’s guide to the\u00a0best homeowners insurance companies.<\/p>
USAA\u00a0offers homeowners, condo, renters, and mobile home insurance. It also offers flood and earthquake insurance. It has a rider endorsement for home sharing if you rent your home or a room for short-term or long-term.<\/p>
USAA gives discounts for Connected Home<\/a> (a leak detection system), ADT security systems, and if you’ve been claims-free for at least five years. It also covers your personal belongings using today’s replacement cost, with no depreciation.<\/p> Homeowners insurance\u00a0protects your\u00a0dwelling,\u00a0and personal belongings, and offers\u00a0personal liability coverage\u00a0for injuries that happen on your property.\u00a0<\/p> USAA renters insurance policies come with coverage for floods, tidal waves and earthquakes already included, a huge plus. You can add coverage for electronics that will cover drops and spills. Military uniforms and gear are covered worldwide for any problem covered by the policy, with no deductible.<\/p> There\u2019s overseas coverage if you move or are deployed abroad.<\/p>USAA Renters Insurance<\/strong><\/h2>
USAA business insurance pros and cons<\/strong><\/h2>