USAA and Nationwide Ranked Best for Disabled Veterans
Clearsurance.com recently published a review of the top 10 auto insurance providers for disabled veterans.
USAA, an insurance provider exclusively for veterans, military members, and their eligible family members, ranked as the number one insurer for disabled veterans.
Top 10 Insurance Providers for Disabled Veterans
According to Clearsurance.com, the best insurers for disabled veterans are as follows:
- USAA
- Allstate
- Nationwide
- State Farm
- Farmers
- Geico
- Progressive
- American Family
- Travelers
- Liberty Mutual
Each has unique strengths and weaknesses.
USAA offers coverage options that meet the specific needs of military members, such as deployment coverage and options for veterans with disabilities. It’s the cheapest option for military members and ranks high in customer satisfaction.
One downside is that those seeking face-to-face interaction with their insurer will have to settle for phone calls and online communication.
Allstate is a top contender because it has an excellent 25% bundling option. It also offers significant savings to disabled veterans who drive fewer than 11,000 miles annually. Unfortunately, some customers have to choose high deductibles to qualify for competitive premiums.
Nationwide rewards drivers with up to 40% off for demonstrating safe driving habits through its usage-based program. Nationwide offers home insurance, and policyholders can qualify for another discount when combining policies.
Local agents make it easy for disabled veterans to build relationships with agents. Nationwide tends to have higher rates, so if customers don’t qualify for discounts, they may find cheaper coverage elsewhere.
Minimum Coverage Vs. Full Coverage
When disabled veterans compare coverage options, they will usually find that minimum coverage costs about half as much as full coverage.
Those with a lease or an auto loan must carry full coverage, but those who own their car outright can choose to carry full coverage. Melanie Musson, an auto insurance expert with Clearsurance.com, recommends that drivers “keep full coverage on a vehicle that is newer than 10 years old. Older vehicles are often not worth enough to justify the cost of full coverage.”
Specialized Insurance Options for Disabled Veterans
Depending on the type of disability, veterans may want to look for a company that provides specialized coverage.
One area to consider is coverage for adaptive equipment. Disability adaptations on vehicles can cost tens of thousands of dollars, and if an insurance provider doesn’t cover those customizations, the vehicle owner would have to assume the risk of financial loss if those upgrades are damaged in an accident.
Some insurance providers will allow policyholders to choose an agreed-upon value for coverage as an alternative to customized parts coverage.
Roadside assistance is another type of coverage that can be essential for disabled veterans. If a driver is stranded with limited mobility, roadside assistance can help get the vehicle operational again in a timely manner.
Discounts for Disabled Veterans
Nationwide and Allstate offer up to 25% military discounts for active military members and veterans.
Many veterans can stack their military-affiliation discounts with other savings, such as low-mileage and usage-based discounts.
Usage-based discounts can help veterans save significantly by practicing low-risk driving behaviors. Not all companies guarantee a discount, though, so if a veteran uses an insurance provider that doesn’t guarantee a discount, they should think twice before opting into a usage-based program if their driving habits might put them in a higher-risk category.
Insurance Eligibility as a Disabled Veteran
Insurers can only deny coverage for disabilities that directly impact driving safety, such as neurological conditions like epilepsy, and visual impairments that prevent drivers from seeing their surroundings.
A doctor can help drivers navigate whether they are safe to be on the road.
Comparing quotes is one of the best ways for a disabled veteran to find an insurance provider that’s a good fit and offers the coverage desired at a fair and competitive rate.
Read Clearsurance.com’s entire report here: 10 Best Car Insurance Companies for Disabled Veterans.