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Jumat, 02 Februari 2018

Best Military Car Insurance Options for Veterans

Best Military Car Insurance Options for Veterans

Anyone who is currently serving in the military deserves our respect and thanks for the work they do protect our country. As a member of the military, life is hard enough so it's nice to know the insurance companies provide military car insurance at a discount. These programs all have specific criteria that must be met, but it is simple to determine if you are eligible.

Most companies make discount insurance is available to active duty, guard, reserve, retired Military personnel and their families. The discounts can be substantial. For example, one large insurance company provides a discount of up to 15 percent off your total insurance premium.

In addition to the discount mentioned above, several large insurance companies provide a significant discount, or even suspend all fees, on car insurance for those serving on active duty and deployed in areas designated as "imminent danger" by the Defense Department and approved by Congress.

Best Military Car Insurance Options for Veterans

Keep in mind that the insurance carrier may require you to store your vehicle in an approved storage protection locations. Generally, the discounts start when you store your cars for 30 days or more. This is a great benefit since many insurers prefer to have customers who have uninterrupted coverage for some specific period of time.

When looking for military car insurance, particularly if you are deployed or about to be deployed, make sure you find a company that caters to your needs as a member of the military. Does the insurance company provide you with a service number that you can call from anywhere in the world? Do they have a special department set up - preferably staffed with ex-military - who will answer your questions and concerns? Do they allow you to make payments on the military's pay schedule regardless of where you are in the world for no charge?

Take advantage of all the discounts available to you when shopping for insurance. Be sure to ask about any student discounts, multi-car discounts or whatever else may be available to you. Auto insurance companies know that military personnel is good risks and they are happy to reward you with a discount on your military car insurance.

What is the Best Military Car Insurance Company?
We found USAA is usually the best option for those who are currently deployed or are an active duty member living on a military base. Through a combination of great discounts and cheap base rates, those currently serving should give USAA the first look. If you are done the serving, however, GEICO may be just as good, if not better than USAA due to their lower ongoing rates. Read on to know which will be best for your circumstances.

USAA Auto Insurance: Discounts and Low-Cost Rates
USAA is the best military car insurance for those who are currently active military members and may be deployed. When deployed, you are unlikely to use your car, and therefore may not want to pay for the car insurance during that time. USAA offers discounts of up to 90% for members who are deployed, provided the car is in a safe location. Also, if you live on a military base and park your car there, USAA can provide you with an additional 15% discount. The discounts, in combination with low yearly rates, means deployed and active members will likely end up paying the least for their car insurance with USAA. You can see this yourself by examining the example below. Here are sample auto insurance rates, before discounts, from three states: California, New Jersey and Delaware.

StateUSAAGEICOMetLifeState FarmAllstate
New Jersey$1,320$931$2,304$2,304$2,412

And here is how the four companies compare across their averages:

Best Military Car Insurance Options for Veterans
USAA is on average 59% cheaper than most other major insurance carriers we surveyed, including State Farm, Allstate and MetLife. The only exception to this was GEICO, which tends to offer rates better or about equal to USAA, but as we say above, GEICO is also a good company for military personnel. With a 90% discount, you may only be paying a little over $100 per year, which is cheaper than the alternative of letting your car insurance lapse.

GEICO: A Good Car Insurance Option For Retired Service Members and Those Not Being Deployed
GEICO may be the cheaper option if you are not being deployed or are retired from the military. As you can see in the graph above, GEICO provides rates cheaper than USAA in the states we surveyed. Overall, GEICO was the most affordable insurer in 37% of the cities we have surveyed in the past year. Then in addition to providing the cheapest auto insurance rates, GEICO is also pro-military in terms of the discounts it offers to active duty and retired members. GEICO offers up to a 15% discount for those who were or are in the military, regardless of their active status. In California, that discount comes out to an average savings of about $200 per year. You also can receive additional discounts through GEICO if you are part of any of the following organizations:
  • Association of the U.S. Army (AUSA)
  • Fleet Reserve Association (FRA)
  • National Infantry Association (NIA)
The reason GEICO is not as great for deployed members is that the discount is only for 25% off your comprehensive insurance. Also unlike USAA, it only offers the discount if you are deployed to an imminent danger pay area (as defined by the Department of Defense). The danger pay areas are only a subset of the countries you may be deployed to, so if you were asked to be stationed in Japan (not an imminent danger area) for a year, you won't be eligible for the discount from GEICO.
One last thing worth noting is that the military insurance program at GEICO is very accommodating to military members. All the staff at GEICO Military are ex-military members themselves, so they understand what their customers may be going through. The site also has several valuable resources for military members to read regarding the process of leaving and returning from deployment.
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