Auto Insurance Knowledge

Top Things Military Personnel Should Know About Auto Insurance

If you’re a service member or a service member’s spouse, and you’re relocating to a city across state lines, you can keep your same auto insurance, right? Wrong – even if you’re moving for just a year or less, each state has its own requirements for coverage limits and other mandates that should make calling your insurer one of the very first things on your to-do list.

According to Military.com, servicemembers typically have special auto insurance needs that range from storing – and insuring – vehicles while the owner is away on active duty to be aware of any special rules that apply to military members including waivers for coverage during deployment. Other recommendations include:

• Plan your vehicle purchase and keep in mind the final cost and even its theft factor to help potentially reduce your coverage expenses.
• Improve or maintain a good credit score.
• Compare rates among carriers.
• Check deployment options and whether you can suspend coverage if desired.
• Familiarize yourself with industry insurance terms and insurance lingo to help in understanding your policy and coverage options.
• Think about gap coverage for a brand new car or truck to help defray depreciation of your purchase, especially if you will be deployed for some time.
• Consider policy options carefully and don’t duplicate benefits or the related costs.
• Ask about discounts, and not just for military personnel. Many insurers offer a variety of programs designed to help you save money whether you’re at home or overseas. Talk to your individual carrier for their specific discounts.

Understanding your responsibilities as a driver and how a change in your servicemember status may affect your auto insurance is key to making sure you and your family have the right protection under any conditions.

For more information read the article  10 Tips on Auto Insurance on the Military.com website. You can also check out the interactive U.S. map at the National Association of Insurance Commissioners for state limits.