Deployment. That word alone can send shivers down the spines of most military families. Every military family knows that experiencing a deployment is not a matter of if, but when. Even with that knowledge that a deployment can and will happen, it still does not make it any easier when that day arrives. It does not matter if you are single or have a family of five, your home life is going to be disrupted.
Whether you are experiencing your first deployment or your third, there are many tasks that must be completed and situations prepared for to ensure you are ready for that day you leave. From financial concerns to child care, the list can seem endless.
Personal insurance is one of those items on that list that can get overlooked but should absolutely be reviewed prior to your deployment. Your homeowners, auto, personal property, and life insurance policies can be affected. All of those insurance policies should be reviewed to make sure you and your family are well protected while you or a loved one is deployed.
Our friends at Armed Forces Insurance are dedicated to helping your family in all situations, including helping your family through one of life’s most difficult and emotional situations a military family can face – deployment of a loved one. Below are some important tips on what to do with your insurance while you or your spouse is deployed:
1. Personal Auto Insurance
Call your insurance agent and let them know your deployment situation. There are several things you will want to consider regarding your vehicle. Will you sell the vehicle or put it in storage? Will someone else be driving the
vehicle while you are gone? Each of these situations can and will affect the price of your auto insurance not only while you are deployed, but when you return as well. You may be able to suspend or remove certain coverages from your policy to save you money on your insurance until you return.
2. Personal Property Insurance
Check and make sure that your current homeowner or renter insurance policy will cover the personal property you take with you. The military will not cover personal items taken on deployment that are stolen or damaged.
3. Home Insurance
If your family will be living in the home while you’re gone there is not much you need to do. However if your home will be vacant while you are deployed or you will be renting your home out to another while you are gone, you will definitely want to talk to your insurance agent. Special coverage or a separate policy may be needed to cover your home while you are away and the house is unoccupied or occupied by a renter.
4. Insurance Payments
Make sure to put any insurance payments on auto-pay. One of the worst things I have seen happen is that an insurance policy cancels mid deployment and the company cannot get a hold of the insured. Then a claim occurs and there is no
coverage due to the payment issue. Even if there is not any damage when you return, if you did not have continuous insurance coverage, your new policy could be much more expensive than what it would have been had the policy been kept in place. Because of this, I also recommend using your bank account for your automatic payments and not a
credit card. This is because credit cards have expiration dates that can expire mid deployment creating unneeded payment issues.
5. Life Insurance
Make sure to evaluate your life insurance needs. Though the government provides a Death Gratuity benefit and you may have taken the $400,000 max benefit of SGLI, this may not be enough for your family. Talk to a qualified life insurance agent or financial planner to make sure you and your family are properly protected.
Though deployments can be hard, there are things you can do to make sure they are just a little bit easier. Be sure to consult with your insurance agent, or reach out to a representative at Armed Forces Insurance to discuss your situation and ensure you are getting the most accurate information and the best deal on your insurance possible.
As a military family, you need insurance that matches your needs and protects what you value most. You deserve an insurance company that is committed to serving you. MilHousing Network is proud to partner with Armed Forces Insurance to bring military families reliable homeowner’s insurance options when buying a home. Contact them today at 800-313-1936 or visit www.afi.org/milhousing to learn how they can support your unique military lifestyle.