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Nerdy takeaways
- USAA and Armed Forces Insurance sell homeowners policies specifically for the military community.
- Other companies may offer cheaper rates or military discounts.
- Whichever policy you buy, check what coverage you’ll have while you’re deployed.
When it comes to insuring their homes, veterans and current members of the military have plenty of choices. Two insurance companies specifically serve the military, with features designed for active deployment.
But other insurers may offer better rates or military discounts.
Here’s what to know about buying homeowners insurance for veterans and military.
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USAA
USAA provides insurance and financial products for the military. This includes bank accounts, credit cards and mortgages created specifically for military families.
This insurer has homeowners policies tailored to the needs of military policyholders. For example, USAA covers personal belongings damaged by an act of war. And unlike other insurers, it won’t reduce coverage if your house is vacant while you’re deployed.
Policies also cover military uniforms without a deductible for active duty or reserve duty service members.
You may be able to add home-sharing coverage, too. This option could come in handy if you want to rent your house out on vacation rental websites while you’re deployed.
USAA membership is open to:
- Active-duty members of the U.S. Armed Forces, National Guard or military reserves.
- Veterans who’ve retired or had an honorable or general discharge.
- Pre-commissioned officers.
- Employees of certain federal agencies.
- Spouses and children of USAA members.
» MORE: USAA home insurance review
Armed Forces Insurance (AFI)
AFI sells both its own military home insurance policies and those of partner companies. Members can choose which rate and package they prefer.
This insurer also offers a variety of ways to customize your policy. Optional endorsements include coverage for identity theft and water backup damage. You can also add coverage for valuable personal items like jewelry.
You’re eligible for AFI membership if you fall into one of the following categories:
- Active-duty member of the U.S. Armed Forces, National Guard or military reserves, or their current or surviving spouse.
- Veteran who’s retired or been honorably discharged, or their current or surviving spouse.
- Active or retired civilian employee of the Department of Defense, Department of Veterans Affairs or Civilian Auxiliary.
- Member of a service academy, including Merchant Marines and ROTC cadets.
- Child, parent or former spouse of a current or former AFI member.
- Former AFI member.
- Active, retired or former commissioned officer of the U.S. Public Health Service or National Oceanic and Atmospheric Administration.
Insurance company with a military discount
Farmers Insurance offers a discount of 2% to 8% to active, retired, reserve and honorably discharged members of the military. The discount varies by state and isn't available everywhere.
🤓 Nerdy Tip
Keep in mind you may find cheaper home insurance even without a military discount. Every insurer calculates rates differently, so get home insurance quotes from at least three companies. » MORE: The cheapest home insurance
Special considerations for military home insurance
It’s always smart to read your homeowners policy carefully. But it’s particularly important for active members of the military who expect to be deployed. You might find certain gaps in coverage that you’ll want to be aware of.
For example, policies often offer coverage for personal belongings when you’re away from home. However, many insurers exclude damage related to war. So if you’re deployed to a combat zone, you may not have coverage for the things you bring with you.
As noted above, USAA is an exception, covering up to $10,000 for items lost due to war, with no deductible.
You’ll also want to keep an eye out for vacancy clauses in your policy. If you’re not insured with USAA, some kinds of coverage could be limited once your home has been vacant for 30 or 60 days. If you expect a longer deployment and no one else will be living there, discuss options with your insurer.
Learn more about unoccupied and vacant home insurance.
Some people rent their homes out during deployment. If you choose to do this, you may need to swap a homeowners policy for a landlord or rental dwelling policy. Again, your agent or insurer can advise what you’ll need to properly cover your home.
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