Veterans and active-duty military personnel have numerous options for house insurance. A few insurance companies cater exclusively to the military, with features geared to meet the demands of individuals on active duty. Other insurers provide military discounts.
Here’s all you need to know about obtaining homeowners insurance for veterans and military personnel.
Home insurance companies for veterans and military
The two insurance firms listed below only service veterans and members of the military.
USAA
USAA provides insurance, bank accounts, credit cards, mortgages, and other financial goods to military families.
The company’s homeowners insurance includes various features customized to the demands of military policyholders. Unlike other insurers, USAA will cover your personal items even if they are damaged by an act of war, and it will not limit your coverage if you leave your home vacant while you are deployed. It also provides coverage for military uniforms without a deductible for active or reserve duty.
USAA gives home-sharing coverage as standard for those who rent out their house on vacation rental websites (which could be useful if you’re looking for a little additional money during a deployment).
Although USAA homes plans are available in all states and Washington, D.C., coverage selections may differ depending on location.
USAA membership is available to:
- Active duty members of the United States Armed Forces, National Guard, and military reserves.
- Veterans who have retired or received honorable discharge.
- Officers who have not been commissioned.
- Spouses and children of USAA members.
Armed Forces Insurance
AFI offers both its own military home insurance products and those of partner firms. Members can select their favorite rate and bundle.
The organization provides a number of methods to personalize your coverage. Optional endorsements include protection against identity theft, water backup damage, and precious personal goods like jewelry.
You are qualified for Armed Forces Insurance membership if you belong to one of the following categories:
- Active duty members of the United States Armed Forces, National Guard, or military reserves, as well as their current or surviving spouses.
- Veteran who has retired or received an honorable discharge, or their current or surviving spouse.
- Active or former civilian employees of the Department of Defense or the Department of Veterans Affairs.
- A service academy member, such as a Merchant Marine or an ROTC cadet.
- A child, parent, or former spouse of an active or former AFI member.
- Former AFI member.
- Active, retired, or ex commissioned officer with the United States Public Health Service or National Oceanic and Atmospheric Administration.
Home insurance companies with military discounts
The following firms sell insurance to a wide range of customers, but they expressly offer home insurance discounts to veterans and members of the military.
Farmers Insurance provides a 2% to 8% discount to active, retired, reserve, and honorably discharged military veterans. The discount varies by state and is not offered everywhere.
Liberty Mutual provides discounts on homeowners insurance to active, retired, or reserve military members in various areas.
Keep in mind that another business may offer cheaper home insurance, even if it does not provide a military discount. Every insurer calculates prices differently, so it’s a good idea to get home insurance quotes from at least three different firms.
Special considerations for military home insurance
It’s always a good idea to properly read your homeowners insurance to ensure you understand your coverage, but this is especially critical for active military members who plan to be deployed. You may see gaps in coverage that you should be aware of.
For example, homeowners policies often provide some coverage for your personal goods while you are away from home, but they frequently exclude damage caused by conflict. So, if you’re deployed to a combat zone, your clothing and personal items may not be adequately covered. As previously stated, USAA is an exception, covering up to $10,000 for items lost due to war with no deductible.
You should also keep a look out for vacancy terms in your policy. If you’re insured with a provider other than USAA, certain types of coverage may be limited after your house has been vacant for a minimum of 30 or 60 days. If you expect your deployment to go longer than that and no one else will be residing in your home, talk to your insurance about your choices. Find out more about empty and vacant home insurance.
Some people choose to rent out their homes to others while deployed. If you choose this option, you may need to replace your homeowners coverage with a landlord or rental housing policy to ensure that your home is legally insured. Again, get advice from your agent or insurer.
