Tuesday, September 4, 2012

Military members and car insurance

For most military members, auto insurance is the least of their worries. Insurance in general is probably very low. But if you are deployed and your family is back home, having the right car insurance can matter. Military members are charged with protecting this country. Car insurance is there to protect your family while driving, and the consequences that can arise. Even if you are on a tight budget, insurance, car insurance for sure, is not one to skimp. Insure the cars your family uses for maximum protection.

Liability is the number one thing to keep in mind with auto insurance. Cars can get fixed. Cars can get replaced. But lawsuits? They can deal a financial blow to anyone. Talk to your insurance agent about getting more liability. It actually will only cost a few dollars more to double your liability coverage. What would you do if a car you owned caused the death of someone? Americans are lawsuit-happy, and your insurance company is only on the hook for what you choose. Most people choose the lowest minimum coverage. You may want to think about raising it. This goes hand in hand with medical payments. You need to check what kind of medical coverage you and your family get from the military. If you have full medical coverage for you and your dependents, ask a qualified auto insurance agent if the basic coverage will do.

But one word of caution on medical payments. Does your spouse haul other passengers around? Like in a carpool or to soccer games? You need medical coverage for those riding in your vehicle. Protect yourself!

What kind of area does your family live in? Is it prone to floods? Hurricanes? Other disasters? If so, comprehensive coverage is next up. You want to be protected if your car was wiped out in a flood or fire. This is not to be confused with collision. Comprehensive includes stuff not related to a collision, including theft. So get the coverage you need to be safe.

As far as collision goes, you need to decide if the extra cost is worth it. How old is your cars? What are they worth? Can you afford to fix them? If they were totaled, could you buy another one without problem? Yes, you can raise the deductible to make it more affordable. Even if you have an older car, just raising the deductible may make the collision coverage worth it. You don't want your family not being able to make repairs if you are not there, right?

>>More on car insurance discounts for military members.