How do I find cheap car insurance for veterans?
Most companies offer cheap car insurance for veterans. Veterans can save up to $450/year off the national average rates for car insurance.
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UPDATED: Jan 22, 2021
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- Military personnel are eligible to receive special discounts on their personal car insurance
- Veterans have many different resources that they can access for help with financial planning or living life after serving
- Individuals who have received a great deal of training and who work in specific fields tend to be more careful than the average driver
If you have put your life on the line to serve your country in one of the branches of the armed forces, you are eligible to receive special discounts on your personal car insurance.
Since not all providers offer special rating assignments or discounts to veterans, it is important that you do your homework so that you are able to get the best car insurance rates and the most comprehensive coverage options and limits.
If you have never purchased your own auto insurance or you never took the time to really shop for the best rates, it is time to be a wise consumer now so that you can take advantage of the discounted rates you can receive for being a military veteran.
Read this guide to shopping for affordable insurance as a veteran, and you will be equipped with the knowledge and the tools that you need to get the best-priced plans that do not comprise how much protection your family has.
Why do military veterans receive special discounts on insurance?
Many assume that veterans receive special military discounts as a ‘thank you’ from the insurer to veterans for sacrificing their freedom to protect the freedom of citizens in the United States.
While this is definitely one of the reasons why a majority of American insurers will offer veterans’ discounts, it is not the only reason why veterans are entitled to a discount.
The second reason is that those who have served in the military are considered to be less of a risk than civilians.
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Why are veterans in a lower risk class?
When insurance companies are determining how much a class of drivers should pay, they consider risk before anything else.
While there are many different factors that can affect risk class, studies show that there is a direct correlation between profession and how likely a driver is to have an at-fault collision.
Individuals who have received a great deal of training and who work in specific fields tend to be more careful than the average driver.
Since military personnel receive intensive training and are taught to operate many different types of machinery responsibly and safely, they have experience in a profession that qualifies them for a lifelong discount.
The disciplined past that was ingrained in the veteran will translate in good driving habits. As long as the veteran does not have a serious traffic conviction that drivers them into a high-risk class, they are welcome to apply for discounted cover.
What Insurance Companies Give Veterans Discounts?
Now that you know that you can get veteran discounts and why these discounts are available, the next step is to find an insurer with a product that caters to your unique needs.
Believe it or not, not every company gives disciplined veterans who have a respectable record behind the wheel low rates for their status and professional experience.
Even though some companies do not have veterans car insurance, there is a long list of providers in every state that do.
Here are some tips you should consider before you trust just any carrier to provide you with financial protection:
Step 1: Locating Companies With Veterans Programs
Veterans have many different resources that they can access for help with financial planning or living life after serving.
One of the organizations that will help you find the best insurance products is the Veterans of Foreign Wars organization. The VFW is responsible for choosing USAA Insurance to be the sponsored provider for members and their families.
USAA may be the largest name that services military personnel and veterans, but there are other companies to keep in mind.
You should compare rates with more than just one carrier to be sure that you are getting the biggest discount.
Large writers of insurance like Geico, Progressive, Allstate, and 21st Century advertises their military programs.
Just be sure that the company that you select understands the military and has special policies if you are forced to relocate or deploy while you are an active service member.
Step 2: Qualifying the Insurers to Choose the Best Option
When you are shopping for cheap insurance, price is more than likely your priority. While the cost of insurance does matter, insurance is only as valuable as the reputation of the company you are insured with.
If you choose the wrong company, you could be left with a damaged car and unpaid claims or claims that have been delayed month after month. Here are some of the different indicators that will show you an insurer will fulfill their obligations:
- The company is financially responsible and has a good or excellent financial rating
- The company is licensed and in good standing with the Department of Insurance
- The company has little or no complaints filed with the National Association of Insurance Commissioners
- The company has several methods of contact for convenience
- The company offers more than just car insurance for convenience and discounts
- The company has a high customer satisfaction rating with consumer rating agencies
Step 3: Decide on the Right Coverage Options and Limits
Never let your desire to find low-cost insurance compromise how much financial protection that you have. When you own a home, you earn an income, or you have any type of assets, all of this can be at risk when you do not have the right insurance.
You could be left without a car and with wage garnishments and also other judgments looming over your head if you are not prepared.
This is why you should compare the limits available, assess your need for optional cover, and build the best policy for you without looking at price first. After you do this, you can make an unbiased decision as to where you buy.
If you need help to determine what is appropriate, you can reference guides that will help.
Insurance is a product that all civilians, service members, and veterans need when they own cars. No one wants to pay inflated rates for coverage when they can save.
If you want to find the best rates, find veterans insurance. Start using an online rate comparison tool, and you can see how much you veteran status will really benefit you when you are buying a personal financial product.
Start comparing car insurance rates now by entering your ZIP code in our FREE tool below!