Military Auto Insurance

June 9, 2008

If you (or your spouse if you are married) are presently serving your country in the Air Force, Army, Navy, Marines, Army Reserve or National Guard, there is a chance that you may be eligible for a discount on your automobile insurance, depending on the company who provides your policy. Anyone who is currently on active duty should find out from their insurance agent if by chance they have any kind of discount program in place for men and women who are in the military.

A good many automobile insurance companies will offer discounts to anyone who is military personnel, whether active or retired. This type of military discount is currently available in every state of the US except for 10. These are Texas, Tennessee, New Mexico, New Jersey, Mississippi, Michigan, Massachusetts, Maine, Indiana, and Georgia.

There are some insurance companies who will agree to let you drop all of the coverage you have and just keep the comprehensive if you find out you have to go overseas with the military and you will be storing your car, which means no one will be using it while you are gone. In addition, if you will be shipped to a country where the government gives you hostile fire pay, occasionally an insurance company will discount the amount you must pay for your comprehensive policy by as much as 25% as long as it stays in storage.

If you know you will be overseas for 30 days or more, and will be storing your car for at least that long, you can find insurance companies that will reduce the amount of your coverage, or suspend it altogether as a temporary fix. This can save you quite a lot of money, and also lets your insurance record show that you have kept continuous coverage. Insurance companies much prefer to see this, as they tend to prefer customers who have a record of a policy that has not been interrupted for any reason. Generally, a record with gaps of time in it can get you labeled as someone who is “high risk” as far as the insurance company is concerned, and this makes your premium cost more.

You should notify your agent the moment you find out that you are going to be deployed so that you can discuss what should be done about your policy while you are gone. If you should forget, and your policy is canceled for lack of payment, don’t just assume you can explain the matter and get it back when you return home. You might have trouble getting a policy with the company at all. If by chance they do decide to let you have one, you can expect to pay a much higher price than you were paying before. Don’t let this happen! Talk to your agent and give him or her all the details of your deployment so that you can keep your insurance at a low rate while you are gone.

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