April 23, 2021

How to Get Auto Insurance as a Veteran?

Whether you are an active duty service member or a veteran, you can take advantage of auto insurance with multiple coverages and discounts. However, the discount percentage may vary depending on the insurance provider. Thus, it is always worth asking for a veteran’s discount while renewing your car insurance. You can expect to save between 3% to 7% for your service.

If you’re seeking veterans’ auto insurance coverage, check this website.

Veterans who combine all of their insurances under one insurance company can benefit from even bigger discounts. Also, many insurance companies make an exception for veterans when charging a driver for any lapses in coverage that occur during your active duty military deployment.

However, there are few things to consider before you buy insurance as a veteran:

What type of auto insurance do you need?

There are five types of auto insurance available to veterans:

Liability Car Insurance- Covers damages and losses caused to a third party not included in the insurance contract.

No-Fault Insurance- If you get injured in a car accident, your car insurance will cover your medical bills and part of your losses, regardless of who caused the accident.

Collision Auto Coverage- As opposite to liability insurance, collision insurance cover the damages caused to your car after a collision with another vehicle, irrespective of who is at fault.

Comprehensive Policies- Comprehensive policies cover repairs and replacement of your car stolen or damaged due to reasons other than collision.

Gap Insurance Coverage- Gap insurance is optional insurance for new cars, taken along with a collision policy. It protects against losses that may arise if the compensated amount from a total loss does not fully cover the amount that the insured person owes to the lender.

When you rent a vehicle, most lenders require that you maintain full vehicle coverage until it is paid off. However, you may only need liability insurance for older cars or those you own. Liability only covers for the damage caused to other vehicles, not to yours. You will need a comprehensive policy to cover the losses of your own car.

Your insurance agent will suggest you the best insurance policy after considering factors like the state in which you reside, whether or not you have a car loan and the value of your car.

Many factors affect veterans’ auto insurance quotes. Insurers calculate the rates after considering the following details:

Your age- Your rates move up as you age

Your driving history- You can get cheaper rates if you have a clean driving record, which means you have no collision records, accidents, or reckless records of driving

Whether you are a high-risk driver based on your age and driving history- You are considered a high-risk driver if you’ve got a poor driving record with infractions, accidents and more. It may not entitle you to any discounts.

Whether your car is financed or not- You may need full coverage or collision coverage, or both, to fund your car. However, if you don’t need to take out a loan for your vehicle, you can only purchase compulsory basic insurance.

Your car’s security features such as alarm and theft protection- Your insurance provider can offer you discounts for having an anti-theft alarm installed in your vehicle as it can protect your car from being stolen or vandalized.

The distance your car covers every day- The lesser you travel, the safer you are to the insurance provider.

The state and zip code where you drive your vehicle- If your drive the car in a crime and war-prone state, your rates will move up.

Whether you park your vehicle in a safe place or a busy street- Again, where you park your car decides its safety. Hence, affect your insurance premiums.

For example, if you serve on the base and park your car in a garage, your rates are better than if you are in a situation where you have to park the car in a crime-prone area.

What discounts can you avail of as a veteran?

Most insurance companies are happy to offer discounted rates to veterans because they live in a safer environment. They are responsible and follow the rules. And usually have a stable retirement income to pay their monthly insurance premiums.

Hence, as a veteran, you should ask your insurance agent for a discount. You can also ask for discounts like other commercial policyholders for having extensive driving experience or no history of accidents or because your car has anti-theft alarms.

How to find the best veteran auto insurance company?

You can search for professional insurers online and compare their offers. It can save you a lot of time and confusion. Insurance companies that offer discounts to veterans mention this on their website.

However, a better way to find an insurer is by taking recommendations from your military colleagues and veterans who might have purchased such a policy in the past.

You can also consult a professional and trustworthy insurance agent to guide you on the different veteran policies available.

How to apply for auto insurance as a veteran?

Take quotes from various insurance companies

Make sure you include companies that offer discounts for veterans as well as companies that only serve veterans

Evaluate each quote based on the auto insurance discounts, the insurer’s customer service and claim process, coverage options, and the final price. Choose the plan that makes the best fit