You make sacrifices when you choose to defend the United States in the military. You give up time with family, time spent building a career and so much more, all in the name of protecting our Grand Old Flag and the freedoms we enjoy as Americans. As a way to say thank you, insurers offer ways you can save on your car insurance.
Keep in mind that veterans need the same coverage as anyone else who drives. There are no specific auto insurance savings programs industry-wide. However, individual auto insurers offer discounts to veterans and active military personnel. They’re a great way to find cheap car insurance.
How much is car insurance?
Auto insurance companies base rates on multiple factors. They first set a base rate. That takes into account where you live. They then assess your risk. People with multiple claims will pay more than someone with a clean driving record. Once that’s done, an insurance company will cut your rates by including discounts.
Geico often has the cheapest base rates. However, it still pays to compare. You may find more savings with another insurer.
You’ll want to use apples to apples comparisons when shopping. An analysis done by insurance.com shows a very wide margin between the cheapest and most expensive policies.
In Maine, a 40-year-old man is looking at an average amount of $517 for an annual policy with Geico. The closest to that is State Farm with $948 for that same policy. On the highest end, that same driver will pay $1,212 for the same policy with Allstate.
Base rates vary by state — and even within the states, depending on whether you live in a city or a suburb. On the high end of the national average costs is Delaware. Once again Geico is the least expensive with an average base rate for the 40-year-old man of $1,134 annually. In the middle of the categories is Nationwide, with an average of $1,492 annually. Tipping the scales at the most expensive for Delaware is once again Allstate, which comes in at $2,398 on average, annually.
How veterans can get cheap car insurance
Now that we know base rates fluctuate and vary based on location, among other things, we need to go deeper to find further savings based on your status as a veteran.
Aside from the obvious choices, such as multi-vehicle, good driver and bundled discounts, there are many lesser-known ones to consider, including military-based savings. Keep in mind not all of them are available from every company or in every state.
One place to begin your search for car insurance discounts as a veteran is USAA. The company serves military, veterans and their families.
USAA offers veterans up to 15% off. The company also has highly rated customer service for those with military backgrounds. USAA additionally offers additional discounts, such as bundling policies and auto pay.
Geico is another option. The company staffs an entire division of former military personnel. Sharing the same background as the person who is helping you can put to rest your fears about car insurance shopping. They understand any unique circumstances that veterans might be experiencing or have experienced. Geico offers a military discount of up to 15% on your total insurance premium.
Ways to get cheap car insurance
Once you found your veteran discounts, don’t stop there. There are other savings and most can be stacked for the maximum amount off your policy.
If you are a member of the Veterans of Foreign Wars or the American Legion, you might also be eligible for membership in the USAA. Although not specifically targeted for veterans, the USAA offers plenty of discounts that will leave more green in your wallet every month. Those benefits include accident forgiveness, flexible payment options and multi-policy bundling discounts.
A few other ideas that might save you some dough in the long run include:
- Shop around at least once a year, if not at every six-month renewal period.
- Keep a clean driving record. Your history behind the wheel shows the risk to you pose to the insurer.
- Raise your deductible. Set your collision and comprehensive deductibles as a higher rate — but still one you can afford.
Whether you’re a veteran or not, shopping around for auto insurance is one way to get cheap car insurance.