Both veterans and active military personnel (as well of their families) are usually eligible for some of the best auto insurance rates available. As a matter of fact, if you fall into one or both of these categories, you’re eligible for special, exclusive offers reserved only for you – not the general public! Military members and their families are a large market in the US, and auto insurance companies that don’t provide exclusive military-only policies will offer military members, veterans, and their families special discounts instead.
The auto insurance needs of US military members are unique, and insurance companies are well-aware. For example, when a soldier is deployed overseas and their car isn’t in use, they may need to suspend or even cancel their insurance policy. For those of us who aren’t in the military, cancelling an auto insurance policy or having gaps in our insurance coverage usually results in higher premiums. For members of the military, auto insurance companies are a little more lenient when it comes to gaps in your insurance coverage.
If you’re an active member of the military or a veteran, and you choose to go with an auto insurer who doesn’t work primarily with the military, you can expect a discount at around 15% on average. On its own, 15% is a decent discount but nothing to get excited about. However, when you take into account other discounts that military members may be eligible for, such as safe driver discounts, student discounts, bundling discounts, and multiple-vehicle discounts, that extra 15% you save for being in the military starts to look a bit better.
Like anyone else, members of the military need to shop around to ensure you get the best price on your auto insurance policy. Shopping primarily with a low price in mind is a great way to save money, but finding actual value doesn’t necessarily mean going with the lowest price insurance policy.