As an active service member or veteran, looking for car insurance coverage options can present unique challenges.
It’s difficult to determine which is the best auto insurance policy for you because of the multiplicity of factors that go into determining this.
“Best” might mean different things to you versus other service members, particularly depending on which state you are located in, whether deployment is a possibility in the foreseeable future along with a host of other circumstances that could influence your premiums and coverage.
As a current service member or veteran, you may not find that companies have specific discounts for members of the military and their families, but its’s important to watch out for discounts that come in other ways. For instance, some homeowners insurance companies offer military discounts, and some car insurance companies offer multiple-policy discounts.
Regardless, having the best coverage possible and the lowest possible premium for that coverage are the two of the best financial decisions you can possibly make.
There are many options and so many factors to consider, particularly if you’re looking for the best car insurance as an active military member or veteran.
Fortunately, shopping online for insurance is accessible to almost anybody with an internet connection and it’s really not that difficult to do.
Let us help you out.
What’s The Cost Of Car Insurance For Military Members
Insurers use complex mathematical equations as a way to calculate risk and determine adequate rates for potential customers.
Car insurance is no different. Click here to see the ten best car insurance companies.
Considering several distinct variables, companies can ascertain which drivers are statistically more prone to file claims and they establish the rates based on that.
Some of the factors that determine premium costs are:
- Personal information such as age, gender, and marital status
- Driving record and accident history
- The car’s make and model
- Credit score
- Current location
Some of these factors weigh more heavily than others during the process, for example:
- Your driving record has a definitive impact in determining your rates
- Your age and gender are significantly more important than your car’s make or model
- Companies consider younger drivers a liability because of lack of experience (therefore higher premiums
- Females are likelier to avoid traffic accidents than males (resulting in lower premiums)
- Your current location might have a greater influence than other factors, like your credit score, due to state-specific legislation
As a member of the armed forces, you have other considerations to examine when choosing car insurance.
As you may know already, deployment is an especially tricky situation when considering an insurance plan because the way it is handled determines future costs.
For instance, if a customer decides to cancel coverage because of their deployment, whenever they decide to re-register the vehicle premiums are going to be higher because of the gap in coverage time.
Furthermore, an uninsured vehicle can suffer damage even if stored, resulting in out-of-pocket expenses.
Some of the best car insurance companies for veterans and service members grant discounts to stored vehicles during deployment as long as certain requirements are met.
This facilitates what would otherwise be an expensive and burdensome process.
Beware Of The “Deal”
As with any type of insurance service, research is the key to savings.
However, even though affordability is an important determinant when shopping for military car insurance, it can’t be the principal consideration.
Many times customers are so focused on saving money that they accept less-than-stellar coverage to save a couple of bucks per month.
We do not recommend this penny wise and pound foolish strategy, as it will always come back to haunt you.
Instead, take the time to compare companies and their coverages, what they offer and what they cost, and focus on what you actually need.
In addition to the information we’ve provided, we always recommend customers further research the companies and products they offer.
Picking the best car insurance for veterans is not about picking the cheapest, nor is it about picking the most expensive.
It’s about, at a minimum, meeting your state-mandated requirements and taking advantage of every possible discount available.
We sample quoted a standard car insurance package for a female customer in California driving a Honda CR-V with 6 to 8 years of driving experience.
Including both national and local companies, prices fluctuated between $954 and $6,107.
These are outliers, though, as the majority of quotes settled in the $2,000-$3,000 range.
Of course, this does not include available company discounts (such as for veterans or active service members.)
We’ve found that the following companies offer reliable car insurance for military personnel based on our analysis of criteria such as reputation, financial strength ratings, and the scope of their services.
Their offers for members of the armed forces are a principal consideration, for obvious reasons.
Companies With The Best Car Insurance For Veterans And Active Military
The United Services Automobile Association (USAA) offers financial and insurance services to members of the United States armed forces, veterans, and their families.
Its car insurance services are specifically designed to acknowledge the unique circumstances of military life and feature an ample array of discounts.
Standard offerings like a safe driver and good student discounts can be combined with other types of rebates like defensive driving discounts (by approving a driving skills course).
Customers can also bundle military car insurance packages with other insurance services for additional savings.
Soon to be deployed soldiers can capitalize on USAA’s discounts of up to 60% for storing an insured car and a 15% savings rate when a military installation is used as a garage.
Other membership discounts are available and are well worth signing up for.
USAA offers competitive rates and earns high praise from online reviews for their customer service experiences.
Esurance has been a leading insurance provider since 1999.
They receive high marks for their online experience, with an easy-to-use website and features.
Their policy offerings include multiple discounts, either for the chosen policy options (payments, bundles, add-ons), for driver’s record, or for vehicle features.
However, even though Esurance does not offer a specific military discount, they do help service members cancel and/or reinstate their auto insurance policies without much hassle.
If an active member is deployed for service, Esurance exempts them from paying any policy cancellation fees.
Furthermore, customers can reinstate their previous policy after deployment and they will not count the uninsured time as a gap in coverage.
Of course, there are details that need to be taken care of.
For example, deployment must be notified before cancellation and specific documents must be provided for reinstating the insurance.
But all this can be completed through Esurance’s website and directly with their customer service representatives.
Progressive is one of the nation’s largest car insurance providers.
It offers a wide array of products (and many, many discounts) not just for autos but for all types of vehicles.
Progressive does not present specific benefits for military personnel, but, during the online quoting process, it might provide discounts due to the customer’s occupation (where a member of the armed forces is an option.)
As an insurance comparison platform, Quote Wizard connects prospective customers with insurance providers through an online quote process.
By having the users fill out a form with the applicable personal information and auto details, Quote Wizard then presents the companies offering the requested insurance services.
Although the quote process does not feature a specific option for military members, several insurance companies that grant service to military personnel are among those included in the platform, like the aforementioned USAA, Esurance, and Progressive.
Other available companies that offer options for service members are GEICO and State Farm.
How To Reduce The Cost Of Your Car Insurance
Brokers can help you to compare policies and find the one that matches your personal needs.
Brokers know more about the ins and outs of insurance policies (even car insurance for military members) and can help you assess your true needs, discard coverage you might not require, and compare the available market options.
The companies we mentioned earlier offer discount options and benefits in car insurance policies for veterans and service members.
But the amount of other available discount options is substantial and can make quite the difference for your bottom line.
Make sure to compare and analyze all possible coverage options and every conceivable discount available:
- Safe driving (taking and passing driving skill courses, minimal or no accident history)
- Safe vehicle (airbags, anti-lock brakes, anti-theft, and other vehicle safety features)
- Bundling (if available, combining auto insurance with homeowners or other types of insurance)
- Multi-vehicle (buying coverage for more than one vehicle in the household)
- Payment discounts (direct debit, lump-sum payments)
Summing It Up
With the number of choices available in car insurance policies, it’s no wonder finding the right one can be such a burdensome task..
Hopefully, the information provided will assist you in some way to make better, more informed decisions regarding car insurance and, particularly, military personnel discounts.
*While we make every effort to keep our site updated, please be aware that “timely” information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.