Frequently Asked Questions About
Commercial General Liability Insurance
How much does small business insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number. (read more)
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it. (read more)
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
USAA Small Business Insurance Reviews
USAA Small Business Insurance Reviews 2019 (Ratings, Complaints & Coverage). USAA, or the United Services Automobile Association, is a diversified financial services company. The insurance and insurance exchange subsidiaries of USAA are dedicated to offering insurance products to people who are either actively serving in the United States military and their family members. While USAA was originally set up to help members procure mutual automotive self-insurance, the company now offers a wide range of insurance and financial services including small business insurance coverage.
If you are a small business owner looking to buy liability insurance, read USAA small business insurance reviews to learn about USAA's products.
Check out USAA reviews, ratings, complaints & coverage for general liability, workers compensation and other small business insurance commercial policies.
Who is Eligible for USAA Small Business Insurance?
To be eligible for their commercial insurance, you have to register as a member first. The membership is open to those who are serving or have served in the US military and their immediate family members. The definition of serving in the military extends to cadets and midshipmen as well.
They offer very limited services to non-members. The only sort of financial or insurance services you can get from them without being a member is life insurance and financial/investment consultancy service.
USAA Small Business Insurance
The small business insurance coverage strated in 2000 when the company partnered with The Hartford to offer a customized small business policy for members. The move came on the back of research which showed that close to half a million USAA members own small businesses. Since then USAA has partnered with Travelers and other insurance companies as an agency through which members can apply for commercial insurance. The USAA small business insurance reviews are good.
Business Policies Offered
With United Services Automobile Association, you can opt for individual policies customized for your business needs. For instance, if you are the only person working in your small business then there is no need to take a small business package that includes premiums for workers compensation. USAA ratings here are ok. The following are the two broad categories of policies available for small businesses:
1. Business Owner's Policy
Business Owner's Policy (BOP) is a packaged insurance cover which offers protection for a wide variety of risks. While there is a standard BOP policy, there are options to customize it in order to fit the needs of different business owners. USAA ratings for the BOP are good. In general, the BOP policy will cover your for:
- Commercial Property: This covers the business' buildings and the content found within. You may opt for the standard premium rate or a special one that is suited to your specific needs.
- Business Interruption: Insures against any disruption to business and the ensuing loss of income. The disruption may result from natural catastrophe such as flooding, earthquake or severe weather. It could also be as a result of accidents such as fire damage. They can customize your coverage so that the insurance also provides for the cost of relocating to a temporary premises over the duration of that interruption.
- Commercial Liability: Provides for your business's legal liability if a third party suffers harm, injury or loss whose responsibility can be traced to your business and its operations. The harm third parties suffer and which can be attributed to your business includes things and your employees do or fail to do and which subsequently causes the third party to suffer bodily injury or property damage. The cause can be faulty or defective products, errors in service delivery or faulty installation.
This policy covers you and your business from any lawsuits which may be lodged by your current or former employees due to work related accidents. Workers comp is required by law in most states if you have any W@ employees and provides for any medical costs incurred in the course of treating the injuries. It also offers compensation to the injured worker if they are incapacitated up to the point they are able to resume work. USAA small business insurance reviews are ok for WC.
Advantages Of USAA Small Business Insurance
- As a Fortune 500 corporation, they are well established, reputable and financially stable company.
- There are comprehensive options available to choose from for different insurance policies.
- Get packaged business owner's policy that covers all the risks your business is likely to face.
- You can customize your coverage to meet unique needs or circumstances of your business.
Shortcomings Of USAA Commercial Insurance
- It is only available to serving or former military staff and their immediate family. Because of this, USAA ratings for small business insurance are hard to find online.
- You will have to register as a member to be eligible for the company's insurance cover products.
- The coverage is procured from third party companies, representing an element of risk.
USAA Ratings Online
Following are some ratings found online which appear mixed:
- BBB.org - The Better Business Bureau rates them 3.81 out of 5 stars.
- ConsumerAffairs.com - Consumer Affairs rates them 2.5 out of 5 stars.
- Yelp.com - Yelp rates them 2.0 out of 5 stars.
USAA's Contact Information
Address: 9800 Fredericksburg Road, San Antonio, TX 78288
Also known as USAA Casualty Insurance Company, USAA Transfer Agency Company and USAA Investment Management Company.
The Bottom Line On USAA Commercial
USAA works with some of the nation's leading insurance companies to offer competitive coverage options that can satisfy your needs.
More Commercial Insurance Company RatingsSmall Business Insurer Ratings:
- ACE Group
- Applied Underwriters
- Colony Specialty
- Fireman's Fund
- Hartford Steam Boiler
- Jewelers Mutual
- Liberty Mutual
- Markel Insurance
- Merchants Insurance Group
- Ohio Casualty
- Penn-America Group
- Philadelphia Insurance Companies
- State Farm
- The Hartford
- The Main Street America Group
- Utica First
- BB&T Insurance Services
- Brown & Brown
- Burns & Wilcox
- Contractors Edge
- Day Care Insurance Services, Inc.
- Jimcor Agencies
- Risk Placement Services
- USG Insurance Services
- Valley Forge Insurance Brokerage
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