If you are a member of the military, there are various ways you can save on car insurance by taking advantage of discounts and special programs tailored for service members and their families. These savings can help you manage your finances more effectively. In this article, we will explore some strategies that can potentially reduce your car insurance expenses.
Military Discounts
Many insurance companies offer discounts specifically for active duty military personnel, veterans, and members of the National Guard. These discounts can range from 5% to 15% or more, resulting in significant savings each year. It’s worth exploring different insurance providers to find the best military discount available to you.
Deployment Discounts
Some insurance companies offer significant discounts when you store your vehicle while deployed. This discount may apply to both having your car parked on a military base and having it stored elsewhere while you’re away. By taking advantage of this discount, you can save on insurance costs during your deployment.
Bundling Policies
Combining insurance policies can also lead to potential savings. Insurers like Farmers offer discounts for bundling policies, which can help military members save on insurance costs. By bundling your car insurance with other types of insurance, such as homeowner’s insurance, you can potentially reduce your overall insurance expenses.
USAA Auto Insurance
USAA is an insurance company exclusively for former and current military members and their families. It offers competitive rates, customized coverage options, and exclusive discounts for military members. USAA is known for its low average rates across various policies and its top-notch customer service. If you are eligible, considering USAA for your car insurance needs can be a wise decision.
Armed Forces Insurance
Armed Forces Insurance is an agency that can provide quotes from multiple insurers within its network. It offers auto insurance for veterans, active-duty personnel, and their families, expanding coverage beyond the military to include active or retired Department of Defense employees. By working with Armed Forces Insurance, you can compare quotes from different insurers to find the best coverage at the most affordable rates.
State-Specific Discounts
Some states, such as Louisiana, offer specific military car insurance discounts. For example, Louisiana provides a 25% military car insurance discount to full-time active military personnel for liability insurance. It’s important to check with your state’s insurance department to see if any state-specific discounts are available to you.
Suspension or Reduction of Coverage
If you are facing a military deployment, it’s worth considering the option of suspending or reducing your car insurance coverage. Factors such as your location, car insurance provider, and the length of time you’ll be away should be taken into account. By suspending or reducing your coverage during deployment instead of canceling it, you can potentially avoid higher premiums and being labeled as a high-risk driver when you return.
By leveraging these strategies, military personnel and their families can potentially reduce their car insurance expenses and manage their finances more effectively. It’s important to explore all available options and compare quotes from different insurance providers to find the best coverage at the most affordable rates. Remember to inform your insurance company about any changes in your military status or deployment plans to ensure that you are taking full advantage of the discounts and benefits available to you.