Military Car Insurance

Today, we’re going to be talking about military car insurance. Military car insurance policies provide discounts and special benefits to military personnel, veterans, and members of certain military associations. If you qualify for military car insurance, you could receive up to 15% off your rate, depending on your insurer. Other perks of military car insurance include payment deferral options, military-specific customer service, and policy flexibility during deployment. 

Most major insurance companies offer at least some benefits for military customers. And some insurers, like USAA and Armed Forces Insurance, cater specifically to the military community. If you currently have a military car insurance policy or are looking to purchase one, there are a few things that you should keep in mind.

First, you should try to save on insurance costs during deployment. Many insurers offer comprehensive-only insurance if you’re storing your car while you’re gone, which will protect it against things like flood, theft, or fire. You should also make sure that you understand your state’s insurance laws. Some states allow drivers to temporarily cancel their car insurance if the vehicle is being stored during deployment.  

However, this is a risky move, since it leaves you financially liable if your vehicle is damaged. Next, look for discounts connected to military associations. Even if your insurer doesn’t offer a general military discount, you may still be able to save if you’re a member of an affiliated military organization. So be sure to check with your association and get a quote from your insurance. Finally, it’s important that you know your rights under the Servicemembers Civil Relief Act. This law isn’t specific to car insurance, but it does provide certain financial protection to active-duty military personnel. 

For example, the SCRA mandates that service members cannot lose personal insurance or life insurance as a result of active duty obligations. By understanding how the SCRA works, you can better protect your financial wellbeing. I hope you enjoyed this session on everything you need to know about Military Car Insurance. So always be sure to contact a professional before making any financial decisions.