Military families make numerous sacrifices in service to the country, and while they get plenty of respect, they often need some extra help to manage the financial burdens that come with military life. One of the most important areas to find savings is on insurance premiums, which can quickly add up, especially when a family moves frequently or has to juggle multiple policies.
In this article, we’ll explore the best insurance discounts available to military families. From auto insurance to life insurance and even renters insurance, we’ll break down what’s available, who offers the best deals, and how to make sure you’re taking full advantage of these benefits.
1. Auto Insurance Discounts for Military Families
For many military families, auto insurance is one of the largest ongoing expenses. Fortunately, several companies offer special military discounts to help reduce costs.
Geico’s Military Discount
If you’re in the military, Geico offers a 15% discount on your auto insurance premiums. This discount applies not only to active-duty military members but also to retirees and veterans. Geico also offers an additional discount for military families stationed overseas, making it a solid choice for service members serving abroad.
USAA Auto Insurance
As one of the most well-known companies for military families, USAA offers some of the most competitive rates. They offer tailored coverage and generous discounts. For example, active-duty military members receive discounts for keeping low-mileage usage on their cars while stationed on a military base, and USAA waives some fees if you’re deployed.
State Farm Military Discount
State Farm offers up to 25% off for military members with vehicle storage options for military members who are deployed and need to store their cars while they’re away. This is particularly valuable if you plan on storing your car for an extended period.
2. Life Insurance for Military Families
Life insurance is crucial for everyone, but it’s particularly important for military families, where the risks are higher. Thankfully, life insurance providers understand this and offer military families discounted rates.
USAA Life Insurance
USAA is renowned for its life insurance options, specifically designed with military families in mind. The company offers affordable life insurance rates and a range of policies, including term life insurance and whole life insurance. USAA also has unique provisions for those who are deployed or stationed overseas, allowing for more flexibility during periods of service.
The Veterans’ Group Life Insurance (VGLI)
A program directly available to veterans who leave active duty, the VGLI program offers the opportunity to continue life insurance coverage after leaving the military. While it’s often not as cheap as the insurance you had while serving, it’s still a valuable option for veterans who need life insurance.
MetLife Military Discount
MetLife also provides life insurance coverage for military members at a discounted rate. They offer both term and whole life insurance policies with military-friendly provisions. You can also adjust your coverage if you’re called into service, which adds flexibility.
3. Health Insurance and Military Discounts
Health insurance is another area where military families can save money. Thankfully, there are several options to ensure that your family’s medical needs are covered without breaking the bank.
TRICARE Health Insurance
As the official health insurance program for active-duty military members and their families, TRICARE is one of the best options available. While TRICARE is not technically a discount, it provides comprehensive healthcare coverage at a reduced cost compared to standard health insurance plans. TRICARE also offers different plans for active-duty service members, retirees, and even families of deceased service members.
VA Health Care
For veterans, Veterans Affairs (VA) Health Care provides low-cost or free healthcare. This is a critical benefit that many military families use, as it covers a wide range of services from general healthcare to specialty care. It’s available to veterans based on their disability status and length of service.
Blue Cross Blue Shield (BCBS)
Military families stationed overseas may benefit from Blue Cross Blue Shield’s overseas coverage, which includes discounts for military families living in other countries. BCBS also offers a Military Family Health Plan, giving military families access to healthcare through a large network of providers.
4. Home Insurance Discounts
Whether you own a home or rent, securing homeowners or renters insurance is essential for protecting your personal property. Military families can benefit from discounts on home insurance as well.
USAA Home Insurance
As with auto insurance, USAA offers some of the best rates for home insurance to military families. The company has a reputation for offering tailored policies, including coverage for military uniforms and high-value items, as well as for families who are stationed abroad. USAA’s home insurance policies are designed to accommodate the unique lifestyle and needs of military families.
Amica Mutual Insurance
Amica offers up to 15% off on home insurance for military members and veterans. They also provide additional coverage for personal property, including items like jewelry and electronics, making it a great option for military families with valuable belongings.
Farmers Insurance
Farmers Insurance offers military discounts on home insurance policies, typically around 5%. Farmers also provides coverage for furniture and belongings, which is especially important for military families who move frequently.
5. Renters Insurance Discounts
For military families who are renting, renters insurance can be just as important as homeowners insurance. Thankfully, many renters insurance providers offer discounts for military families.
State Farm Renters Insurance
State Farm offers military discounts on renters insurance, which can be especially useful for service members who are frequently on the move. The company also provides customizable coverage options to protect valuables and personal belongings.
Nationwide Renters Insurance
Nationwide provides up to 10% off on renters insurance for military members. The policy includes standard coverage like theft and water damage, and can be tailored to meet the specific needs of military families who rent homes.
6. Other Insurance Discounts for Military Families
In addition to the standard types of insurance like auto and home, military families can find discounts on other types of insurance as well. Here are some options that might surprise you.
Travel Insurance
If you’re planning a vacation or a military leave, you might be able to find discounts on travel insurance. Companies like Allianz Travel offer military members discounted policies, including coverage for trip cancellations due to deployment or other military-related reasons.
Pet Insurance
Military families often face the challenge of frequent moves, and one of the most significant concerns can be ensuring your pet’s health. Trupanion and Pets Best offer military discounts on pet insurance policies, which help cover veterinary expenses for your furry companions, especially during relocation.
Long-Term Care Insurance
For service members preparing for retirement, long-term care insurance can be an essential investment. Companies like New York Life and Aetna offer discounted rates for military retirees, ensuring that healthcare needs are covered later in life.
As you can see, military families have access to a variety of insurance discounts that can help alleviate the financial burden. Whether it’s for auto insurance, home insurance, life insurance, or even pet insurance, these discounts can help you save a significant amount of money each year. It’s important to compare different options and make sure you’re getting the best deal for your unique situation.
Be sure to check with your insurance provider to see if they offer military discounts, and take advantage of these incredible savings wherever you can! Don’t leave money on the table when it comes to protecting your family and assets—your service deserves to be rewarded!