USAA gives back $520 million to its members

SAN ANTONIO (KTSA News) USAA is returning $520 million to its policy members as the coronavirus crisis continues.

Officials with the insurance giant say drivers are spending less time on the road because of stay-at-home orders, so every member with a USAA insurance policy in effect as of March 31 will get a 20 percent credit on two months of premiums in the coming weeks.

“We understand the impact this pandemic is having on our country, and especially our military community and their families, many of whom also are working on the front lines of the crisis. Returning premiums provides timely help for our members,” said USAA President and CEO Wayne Peacock. “USAA has been facilitating the financial security of military members for nearly 100 years, and this is another way we can serve them well.”

Members don’t need to call. They’ll automatically receive a credit applied to their bill.

USAA also has special payment arrangements available to help members who are experiencing financial difficulties. USAA will not cancel members’ auto or property insurance policies or charge fees due to late payments on USAA auto and property insurance coverage through June 17, 2020.