Members of the US Military Service are eligible for special, deep discounts on their auto insurance. These discounts save them hundreds of dollars on premiums every year. The discounts may equal 15% of your total insurance premium. To be eligible you must be a member of the armed forces, a national guard, a reserve, retired military personnel, an officer, or a spouse or former spouse or child of military service personnel. You can maintain the same rate of your auto insurance by maintaining continuous coverage.
Types of coverage
There are a variety of coverage options on auto insurance for military service members. The discounts on premiums offered actually add up to hundreds of dollars annually while protecting you against accident, vehicle damage, personal injury or theft. Most states stipulate a minimum of certain types of coverage and this should be kept in mind when you purchase military auto insurance.
Bodily Injury Liability Coverage
It pays for medical expenses, lost wages, treatment, funeral costs in case of a fatal accident and rehabilitation costs. This cover also takes care of pain and suffering damages when there is a successful lawsuit.
Personal Injury Protection Coverage
This coverage pays for the medical expenses and a percentage of loss of income. This applies to anyone authorized to drive your car irrespective of who was at fault.
Property Damage Liability Coverage
This coverage takes care of repair and replacement costs for vehicle damage and other damages to property.
Medical Payments Coverage
This is an optional coverage that you should choose depending upon how much is your coverage limits on your health insurance. This coverage will pay for the medical expenses exceeding the limits on your personal insurance protection irrespective of fault.
Collision Coverage
This coverage pays for damages to your vehicle minus the deductible irrespective of fault.
Comprehensive Coverage
This pays for loss or damage to your vehicle due to reasons other than collision such as theft, vandalism and fire etc. If your car is financed the lender will require you to have this coverage. In case of a newer car it is better to have a higher deductible. For older and cheaper cars you can consider dropping the collision and comprehensive coverage options.
Uninsured / Underinsured Motorist Coverage
This coverage protects you and your passengers including those authorized to drive your car against any injury caused by a driver with no insurance or inadequate auto insurance or a hit and run driver.
Towing and Labor Coverage
This coverage pays for a specific amount towards towing costs and labor charges during the time your car breaks down even if there is no accident.
Rental Reimbursement Coverage
This coverage reimburses a specific amount per day for renting a car or other transportation while your car gets repaired as a result of an accident.
Auto Replacement
When you opt for this coverage you can claim the full replacement for your car.
Armed Forces Insurance Exchange (AFIE) auto insurance polices include Electronic Equipment Coverage and Air bag Replacement Coverage. These policies are available in select states. The rates are very competitive and come with the best personal service. You can have your policies tailor made to suit your personal needs. You get generous discounts and credits depending on the state where your car is garaged.
By providing Military auto insurance at discounted rates the insurance companies show their appreciation for the people who service in the armed forces. This is a good advantage for the military personnel to be protected while enjoying ample savings.