There are dozens of home insurance companies in the market, but if you’re an active military member or veteran, there are some specific vendors that might be worth considering. Military personnel often have unique coverage needs, especially if you are deployed. Veterans home insurance can provide tailored protection for a variety of circumstances military members may face.
Best Home Insurance Companies for Military and Veterans
Although the best home insurance for military and veterans is a very personal choice, two companies are definitely worth considering: USAA or Armed Forces Insurance. These providers only sell coverage to eligible military personnel and are experienced in insuring veterans’ homes. Here is some additional information about the best military home insurance companies:
USAA
USAA is one of the highest rated home insurance companies out there. The company offers excellent customer service, good coverage options, and low-cost policies. USAA home insurance policies include coverage against perils such as fire, theft, and windstorms, as well as identity theft coverage, earthquake coverage, home-sharing coverage, and military uniform coverage .
USAA home insurance can be quite affordable, but to save even more money, you can take advantage of discounts. USAA offers special savings for bundling two or more policies, being claim-free, and installing a security system in your home to protect against theft and vandalism.
Armed Forces Insurance
Another insurance provider that caters specifically to military personnel and veterans is Armed Forces Insurance. Armed Forces Insurance Home Insurance Policies include coverage for your accommodation and personal effects, as well as liability, medical expense and loss of use coverage.
One of the best features of armed forces insurance is the optional coverages available. You can customize your policy with Equipment Breakdown Coverage, Golf Cart Coverage, Animal Liability Coverage, Earthquake Coverage, Flood Coverage, Identity Theft Coverage and many more . The company also offers a number of discounts to help lower your premium.
Discounts for military and veterans
Although USAA and Armed Forces Insurance offer affordable policies, they do not offer any discounts specific to the military. If you are looking cheap home insurance, another home insurance company offering military and veteran discounts may be a more affordable option. Here are some insurance companies that offer military discounts:
- Geico: If you are affiliated with a branch of the military, you may be eligible for a home insurance discount via Geico. The company’s website states that military personnel and National Guard/Reserve personnel are eligible for up to 15% off their premium. You can also get a discount for emergency deployment or for membership in a professional military association, such as the Association of the United States Army (AUSA).
- Farmers: By Affinity Discounts for Farmers, military personnel can benefit from a discount on their home insurance policy. According to the Farmers website, members, employees, and retirees of certain businesses, groups, and professional associations may get a lower premium. We recommend that you contact a Farmers agent to find out if specific army membership groups are eligible.
VA home insurance
If you are considering buying a home, you may consider a loan from the United States Department of Veterans Affairs (VA). A VA loan is a type of mortgage that is only available to military personnel, veterans, and their spouses. This type of home loan does not require a down payment and usually comes with competitive interest rates and property tax deductions.
When you buy a home using a VA loan, you can also work with the VA to get veterans mortgage insurance. The VA does not specifically sell home insurance, but the organization may have relationships with reputable home insurance companies that it can recommend. They can also help you choose an appropriate coverage amount for your home and belongings.
What happens to my home insurance if I’m deployed?
Official military deployment will affect your home insurance coverage and your premium. Many home insurance policies include two clauses that place certain limits on your coverage while you are deployed overseas, or even in another state. Here are the two clauses to look for in your police documents:
- Occupancy clause: Home insurance policies generally apply only to primary residences where at least one person lives at all times. If you are deployed for more than a month and no one else lives at home, your coverage may become invalid. Military insurance companies, such as the USAA, are less likely to have this clause. If your policy explicitly states that it won’t cover your home while you’re deployed, you can probably purchase an endorsement to insure your home while on vacation.
- War Zone Exemption: The other clause to be aware of is the war zone exemption. Your home insurance policy will cover your belongings anywhere in the world, but there may be an exception for war zones. Depending on where you are deployed, your home insurance policy may not cover your personal effects. Most specific military insurance companies will not have this exemption.
Frequently Asked Questions
What is the best home insurance company?
the best home insurance company is different for everyone. For military personnel, the best option might be the USAA. But for a civilian, State Farm might be the best option. To find the best home insurance company for you, we recommend comparing providers based on your personal criteria and getting quotes from multiple carriers to see which is the cheapest.
How much does home insurance cost?
The average cost of home insurance in the United States is $1,477 per year for a policy with $250,000 of home coverage. However, each owner pays a different rate for coverage. Home insurance quote are based on a variety of personal factors, such as your state and zip code, age, credit score, and claims history.
How much home insurance do I need?
If you are a first home insurance buyer, you’re probably wondering which coverage you should buy. As a general rule, you should have enough home insurance to cover the cost of rebuilding your home to its original condition. You should have sufficient personal property insurance to cover the value of your personal effects, such as furniture and clothing. Your liability insurance limit should be based on your personal financial assets that could be at risk in the event of a lawsuit.
