Military families might not be able to prevent their items from being stolen while transiting a foreign country or being damaged in storage during a deployment, but that doesn’t mean they have to be unprotected. That’s where insurance comes in. With the right insurance, you won’t lose money when catastrophes occur. 

However, even if you think you have plenty of insurance, it might not cover high-value items. And claimants often don’t find out about this until the worst has happened–a claim has been denied. By then, it’s too late. 

What Counts as a High-Value Item?

The term “high-value item” may conjure images of a diamond-studded Rolex, but the category is quite broad. Chances are, your family has some high-value items. If you have one of the following, you might consider getting dedicated coverage:

• jewelry
• electronics
• collectibles
• firearms
• luxury goods

Let’s take a deeper look at these categories. They can include things you might not think about, such as:

• Sports memorabilia
• Camera equipment
• Coin collection
• Rare books
• Music instruments
• Furs 
• Art
• Trading cards

And, yes, that Rolex, too.

What Standard Insurance Policies Actually Cover

Do you know the coverage limits of your standard homeowners or renters insurance policy beyond what’s on your declarations page? 

Knowing the limits listed on the declarations page isn’t enough; insurance policies themselves are 30-60 pages long, sometimes even longer. There are nuances buried deep in your policy, cloaked in complicated language, that specify under what circumstances your policy will pay out and in what amounts. 

Here are some questions you need to find out about your insurance policy:

• Does it pay cash value or replacement cost for covered items?
• What are the policy limits by category?
• What kinds of losses does it insure? More importantly, what does it exclude?

Knowing about the exclusions in any policy can help you determine whether you need supplemental insurance. Insurance policies also have caps on specific high-value items, often on both a per-item and per-category basis. Common policy thresholds for jewelry are $1,500-$2,500. If you suffer a greater loss, your homeowners or renters insurance won’t pay more than that amount. 

High-Value Item Insurance

High-value item insurance has different names depending on the carrier. For instance, USAA’s version is valuable personal property insurance, while State Farm will write you a personal articles policy. Other companies might call it scheduled personal property insurance. 

Scheduled personal property insurance may cover all your high-value items or all the items in a specific category, as long as you declare them. If you have a lot of jewelry, it may be worth it to purchase a jewelry-specific policy, either with your existing insurance company or a company that specializes in these policies, like Jewelers Mutual.

Riders and Insurance Endorsements Explained

One way to ensure high-value items are covered is by getting a high-value item policy, as explained above. But you might also be able to add these coverages to your existing policy. 

Riders and endorsements are ways insurers can provide extra coverage and eliminate exclusions from their standard policies, as explained by the National Association of Insurance Commissioners (NAIC). 

If you require specific insurance coverage for an item, your company may be able to add a rider to your existing account instead of writing you a separate policy. Think of these as amendments.

Riders and endorsements can up your coverage in two key ways: by increasing the per-item or per-category reimbursement per loss or by expanding the circumstances in which they pay out. 

For service members with USAA, adding an electronics endorsement to your homeowners or renters insurance will specifically protect your expensive devices, including computers, drones, game consoles, home theater and audio equipment, smart phones, tablets, TVs, and more. 

This endorsement also covers theft, spills, drops, and other accidents, which standard policies may not cover.

Note: The availability of electronics endorsements and other policy riders may vary by state, so make sure you take this into account when researching products. 

High-Value Property Insurance or Endorsements to Existing Policies?

Which one is better for you depends on your specific use scenario and insurance company. For instance, say you want to protect your $10,000 engagement ring in the event of an accidental loss or mysterious disappearance, but you don’t own other expensive jewelry or high-value items. In this case, you may be able to negotiate with your insurance company to add a rider to your existing policy without too much trouble or additional expense.

On the other hand, if you have an expensive camera collection with many pricey lenses, consider a photography equipment policy to cover all your equipment.

In all cases, you should compare the costs of both routes, including the premiums and the deductible you would have to pay if you had to make a claim. 

When Military Families Should Consider Extra Coverage

While your belongings are covered during your PCS move, there are limits that require you to evaluate getting supplemental insurance and endorsements. This is especially true if you have high-value items when there is a significant gap between what your existing insurance will pay out in the event of a loss and the items’ actual value. 

But you might also want to consider extra coverage to extend the types of events covered under a loss. Supplemental insurance and riders/endorsements can cover things not typically covered by standard policies, such as so-called “mysterious disappearance” claims, when the circumstances of a loss can’t be explained, such as a prank or theft occurring at an unknown time. 

Below are some events when you may want to consider extra coverage, along with reasons to consider it.

Before a PCS Move

Review and, if needed, reevaluate your insurance prior to a PCS move. It’s the perfect time to boost your coverage should you find it lacking. Consider adding supplemental high-value item insurance to cover the extra risk to your personal property during the move itself. 

Imagine you must drive your personally-owned vehicle across the country, staying at hotels in unfamiliar cities. In 2025, 659,880 vehicle thefts occurred in the U.S., according to the National Insurance Crime Bureau. While vehicle thefts are down 23% year over year, this number still represents a fair amount of risk. But standard auto insurance policies don’t cover items in a vehicle that are stolen or pilfered during a break-in. That’s where high-value item insurance or endorsements would kick in to protect you against loss not otherwise covered.

For other insurance-related tasks you should handle before a PCS move, please see our comprehensive article on the subject here. 

During Overseas Assignments (OCONUS)

When serving overseas, your high-value items are subject to a range of risks. Knowing you are a U.S. service member might be enough to entice thieves. 

You might also experience losses and delays as your household goods transit the oceans on slow cargo ships. Personal property insurance can cover both of these gaps. 

Covering military members serving OCONUS might seem like a no-brainer, but it isn’t the default for most insurance companies. Military-dedicated insurance companies like USAA and Armed Forces Insurance specialize in bearing the risk of service members serving overseas. Some standard insurance companies offer similar coverage, such as GEICO through its Military Overseas Insurance program.

During Deployment

Getting insurance in a war zone isn’t always possible, but what about all the stuff you leave behind, including your house and everything in it?

Your existing policy might not cover your house when left vacant for a period of 30-60 days depending on local law. You may have to acquire a special policy or an endorsement to protect your home and its contents while deployed. 

How PCS Moves Impact High-Value Items

You may think that if your personal property gets damaged during a PCS move, the mover is responsible for reimbursing you. Technically, it’s true that the government transportation service provider (TSP) owes you the full replacement value (FRV) of your lost and damaged items. But the TSP’s maximum liability is the greater of $10,000 per shipment or $6.00 per net pound, not to exceed $75,000. Your items could be worth significantly more.

Another thing to remember is that the TSP has an incentive to avoid paying you the FRV for your items. Having secondary coverage, such as personal property insurance, can cover any gaps. 

Is High-Value Item Coverage Worth It?

How important is your stuff? Can you easily replace it in the event of damage or loss? How much does coverage cost? What type of exposure to risk does your personal property have?

These are key questions you need to ask yourself to assess whether you need additional coverage for high-value items. 

Adding a high-value rider/endorsement or purchasing a separate policy might not be worth it if:

• You can easily replace the item with existing savings, and the cost of coverage represents a substantial portion of the item’s worth. 
• Under the terms of your existing homeowners/renters insurance policy, you wouldn’t have any significant expenses if exposed to a catastrophic loss.
• You don’t own anything worth protecting.

Under any other circumstances, you should strongly consider obtaining high-value item insurance or getting a rider/endorsement added to your existing policy. 

Common Mistakes

Here are some common mistakes military families make when considering high-value item coverage:

• Not understanding the financial limits of their existing policies, in terms of per-item, per-category, and total coverage
• Not understanding under what circumstances a policy covers a loss
• Not getting insurance that covers the unique circumstances and risks of military life

The easiest way to understand your limits is to review your policy’s declarations page. To understand your policy in full, please review it or contact your company. 

Note: Insurance companies often don’t send you the full policy upon renewal–only the declarations page, so you may need to do some digging to find your existing policy or contact your company.

Bottom Line

Homeowners and renters insurance often doesn’t cover expensive items in the event of a loss. Scheduled personal property insurance and high-value item riders/endorsements added to your existing policy can cover these gaps. If you can spare a few extra bucks a month to cover your priceless items, it’s usually worth it. 

Insurance companies differ in what they offer, in terms of standalone policies and riders to existing policies, and offerings also differ by state. Compare and contrast the costs and coverages from multiple companies. 

Military families should always choose insurance companies that offer coverage tailored to the unique circumstances of military life, including deployments, living overseas, and PCS moves. You don’t want to be caught short when the worst happens. Protect your family’s finances with the right insurance that covers all your losses–including your most prized possessions. 

The post Do Military Members Need Additional Coverage for High-Value Items? appeared first on The Military Wallet.

For military members and their families, there’s another layer to the process of comparing car insurance quotes, too. Not only do you want an affordable rate, but you may have coverage considerations that are different from those of everyday civilians. Frequent relocations, variation in state coverage requirements, and the potential for deployment all add complexity to your shopping.

In our guide below, learn how to compare key elements of your car insurance quote to ensure you’re getting the right coverage at the lowest price. We’ll show you what military members need to keep in mind when choosing an insurance provider, and help you avoid common car insurance mistakes that could wind up costing you.

Why Comparing Coverage Matters More Than Price

You could buy a cheap car insurance policy, but a low price often means low protection. As you may guess, the cheapest policies tend to offer the least amount of coverage. If you’re in an accident, your policy might not cover everything. Such a coverage gap could leave you to pay the rest out of pocket, which could be tens of thousands of dollars, depending on the damage or injuries caused.

For example, what if you cause $20,000 in damage, but you only have $5,000 in property damage liability coverage? You could be liable for the other $15,000 out of your own pocket. Consider that the average price of a new vehicle is now $50,000, and that a hospital bill after a car accident could be $15,000 (or much more). 

Without enough car insurance coverage, you could be responsible for paying those bills out of your own pocket.

Understanding Liability Coverage Limits

Some level of car insurance is legally required in almost every state, but the minimum amount you need to have varies. 

According to the Insurance Information Institute, most states require at least two types of liability coverage:

• Bodily injury liability: This helps cover your liability when someone other than you is hurt or killed in an accident you caused. It can cover medical costs, legal fees, lost wages, and funeral costs if someone dies. But it is important to note that it doesn’t cover costs for your own injuries or missed work. (In Florida, PIP is acceptable in lieu of BI liability.)
• Property damage liability: Covers the damage you cause to someone else’s property in an accident. It can cover damage to their vehicle as well as buildings, fences, lampposts, trees, and other property. But again, it does not cover damage to your own vehicle or property.

Some states also require other types of coverage, such as medical payments (MedPay), uninsured/underinsured motorist coverage, and personal injury protection (PIP).

Comparing Coverage Limits

Coverage limits are the maximum amount your insurer will pay out for a covered claim. They’re usually written as numbers, such as 25/50/25. That translates to:

• $25,000 in bodily injury liability per person
• $50,000 in total bodily injury liability per accident
• $25,000 in property damage liability per accident.

However, state minimum coverage limits often are too low for today’s cost of medical treatment and vehicle repair or replacement.

Suppose you have 25/50/25 coverage. You’re driving off-base and cause an accident, injuring the other driver, two passengers, and damaging a homeowner’s fence. Your insurance could pay up to $50,000 toward the injuries you caused and $25,000 toward the fence and the other driver’s damaged vehicle. 

But if their hospital bills come out to $75,000, and their vehicle damage plus fence repair costs $30,000, you’d have to pay the difference out of your own pocket: $75,000-$50,000 is $25,000 out-of-pocket for your bodily injury liability, and $30,000-$25,000 is $5,000 out-of-pocket for your property damage liability, not including any legal fees.

That’s why many experts recommend much higher coverage limits, regardless of your state’s minimum requirements. Coverage limits of 100/300/100 are much more likely to cover your liability in an accident, so you can avoid paying thousands out of pocket. 

In the example above, you’d be completely covered if your limits were 100/300/100. The price of your insurance would likely be a little higher, but the savings would be significant if you were in an accident.

What Deductibles Are and How They Work

When comparing policies, don’t just look at the cost of the premiums. Pay attention to the deductible offered so you can compare apples to apples. Raising or lowering the deductible on a policy can change the price of coverage.

If you add optional coverages like comprehensive and collision (commonly known as “full coverage”), you’ll need to select a deductible when purchasing the policy.

Deductibles are the portion of a repair bill you pay yourself before insurance kicks in. A common deductible level is $500, but it typically ranges from $100 to $2,000. 

Here’s how a deductible works: Suppose your car is damaged in a hailstorm. You have full coverage car insurance with a deductible of $250, and the repair estimate is $2,000. If you file a claim, you cover the first $250 of the repair bill, and insurance covers the other $1,750.  

Lower deductibles mean you have to pay less out of pocket after a claim, but your premiums will usually be higher. If your deductible is high, you’ll pay more after a claim, but your premiums will be lower. It’s a tradeoff between cost and risk. 

Collision vs Comprehensive Coverage

A “full coverage” car insurance policy typically includes both collision and comprehensive insurance. These coverages add financial protection for your vehicle if something unexpected happens. When you’re comparing car insurance quotes, make sure they include the same coverage types.

• Collision: This helps cover damage to your car after an accident. It covers the cost to repair or replace the vehicle, minus your deductible. It can help cover damage to your vehicle if you hit another car or another car hits you. It can also help pay for repairs if you hit something else with your car, like a mailbox, building, streetlamp, or guardrail.
• Comprehensive: This covers damage that’s caused by things other than accidents, like vandalism, fire, theft, or storm damage. So if you park on a city street and someone steals your car, comprehensive coverage could help you replace it. 

When comparing policies, remember to check whether they cover the replacement value of the car (how much it costs to replace it with a new car) or the actual cash value (how much the car was worth right before it was damaged). That can affect the amount you receive if your car is totalled and you file a claim.

Other Coverage Types to Compare

As you’re comparing quotes, consider the other coverage options available to you. Additional coverage options might increase your premium, but they’ll also provide more financial protection. Some other options you can add to your insurance policy include:

• Uninsured/underinsured motorist: Depending on your state and policy, UM/UIM insurance covers you if you’re in an accident and the other driver doesn’t have insurance, or doesn’t have enough to cover the damage to your vehicle or your injuries. So if another driver T-bones you in a hit-and-run, your UM/UIM coverage could kick in. Otherwise, you’d have to try to track down the other driver and sue them if you wanted to recover your costs.
• PIP/MedPay: Personal Injury Protection and Medical Payments are two types of insurance that help cover medical expenses after an accident, regardless of whose fault it is. Whether PIP and MedPay are mandatory or optional varies by state. Although your Tricare or VA health benefits will typically cover your medical care after an accident, it’s worth considering MedPay or PIP, as they could help cover medical costs for your passengers. And keep in mind that Tricare can demand full reimbursement after a settlement from an at-fault driver.
• Rental reimbursement: This coverage provides a rental car for you to drive while your vehicle is being repaired after an accident. It can be useful if your car is damaged and needs repairs, but you still need to report for duty. 
• Roadside assistance: When you add this coverage, you can call your insurance company when you break down to get a tow, a battery jump, a spare tire, or additional fuel. Don’t sign up without first checking whether you receive this benefit from other sources, like your credit card.

How to Compare Two Insurance Quotes Side-by-Side

Once you’ve decided the right coverage options and limits for your situation, start collecting quotes from several insurance companies. Compare them side-by-side to see how they stack up. Here’s how:

1. Match liability limits: Make sure the bodily injury and property damage coverage limits are the same for each quote. 
2. Match deductibles: If you’ve added collision and comprehensive, compare the deductibles. Different deductibles could affect your costs.
3. Compare coverage types: Do both quotes contain the same type of coverage, and does that coverage match up with your needs? 
4. Compare total cost: Finally, what’s the premium for each quote? Is that monthly, biannually, or yearly? Be sure to include all discounts you may be eligible for, such as your military or veterans discount.

You can compare quotes yourself by taking notes and tracking information for each insurer. You can also use quote comparison sites that automate much of the work for you, or contact an independent insurance broker to help.

Coverage Considerations for Military Families

When comparing car insurance quotes, consider the effect that a PCS move can have on your insurance. If you receive PCS orders to another state, that could change your liability requirements. You may discover that you suddenly need different coverage in your new state, at higher coverage limits. Optional coverages may now be mandatory, or vice versa. That’s why it’s particularly important to review your policy every time you move—and don’t wait too long, or you could risk being underinsured.

You might also face drastically more expensive insurance rates when moving to a new state. You might need to make changes to your policy or re-shop for coverage, as the cheapest insurer in one state might not be the best for a different state. Insurance is regulated by state, so it’s worth familiarizing yourself with the requirements of your new location every time you move.

Another consideration is the possibility of deployment, which could affect your car insurance needs. Some insurers, like USAA, offer special discounts for deployment, which could help you stay covered without overpaying for insurance. If you expect to be deployed soon, decide what you’ll do with your car (such as storing it or leaving it with a family member), and be prepared to adjust your coverage if necessary. You might need to re-shop to find a policy that works for you while you’re deployed.

Common Mistakes When Comparing Insurance

As you’re shopping, remember to look at the big picture. Plenty of people dread comparing car insurance quotes and have plenty of other things they could be doing instead. But speeding through the process too quickly could make life more expensive than it needs to be. Here are a few mistakes to watch out for as you compare rates:

• Focusing only on price: A cheap policy might offer skimpy coverage, leaving you to pay out-of-pocket later when something goes wrong. Look for value instead: the right coverage for a competitive price.
• Not paying attention to coverage limits: Your coverage limits determine the insurance payout you could get if you needed to file a claim. At the bare minimum you’ll need to meet your state’s liability requirements, but for better financial protection, choose higher limits — 100/300/100 can offer better coverage.
• Misunderstanding your deductibles: Your deductible is what you pay out of pocket for repairs. You can choose a higher deductible to save a little on your premium, but make sure you can afford to pay it if you need to file a claim.

Bottom Line

The best policy is not always the cheapest: it’s the one that protects you properly. Compare multiple insurers to find the best combination of protection and value, and don’t skimp on coverages you need just to save a buck. When you understand how to compare car insurance quotes, it’s easier to shop for coverage when your situation changes, as it often does when you’re in the military.

The post How to Compare Car Insurance Coverage (Deductibles, Limits, and More)  appeared first on The Military Wallet.

In some situations, bundling insurance could actually cost more than what you’d pay if you were shopping for each policy independently. And for military families, PCS moves, deployment, and housing changes complicate the math even further. 

The best way to make sure you’re not overpaying for insurance is by rate-shopping regularly. But before you start requesting quotes, learn when bundling will save you money and when it’s not worth it.

What Does “Bundling Insurance” Actually Mean?

Bundling insurance means you purchase two or more types of policies from the same insurance company, such as homeowners and auto insurance. Insurance bundling is also sometimes referred to as a “multipolicy discount” or “multi-line discount.” 

Insurance bundles aren’t limited to just home and auto coverage. Many insurance companies also let you bundle other types of insurance together, like renters, condo, motorcycle, RV, and life insurance.

When you have multiple policies with the same insurer, it can simplify your finances by letting you manage different coverages under one account. You can renew policies, pay your premiums, and file a claim all in one place, and often for less than buying each policy separately.

But while you can sometimes “bundle and save,” as the marketing suggests, other times bundling isn’t the cheapest option.

How Much Can You Save by Bundling?

Insurance bundle discounts can range from 5% to 25%, but it varies widely by insurer and by state. 

The Wall Street Journal analyzed major car insurance companies and estimates savings of 13% when bundling home and auto.

Progressive states that the new customers who save money at all save an average of $1,086 per year. (Keep in mind, though, that this figure doesn’t include customers who didn’t save at all.) State Farm says its new customers save up to $1,429 when they bundle. And USAA says its customers save up to 10% when bundling home and auto together. 

Bundling discounts are often built into the insurer’s pricing models. By subsidizing a lower rate on insurance premiums, they can attract new business. The insurance company gets a new customer, and you get a discount on something you needed to buy anyway. 

The amount you save will depend on multiple factors, including where you live, the coverage limits you select, your home and vehicle values, and your driving record. 

When Bundling Insurance Saves You Money

Insurance bundling can work well in some situations. You’ll likely save more by bundling compared to shopping for each policy individually when:

• Your insurance company offers competitive rates for both policies. A bundle discount can enhance your savings. 
• You’re settled and stable in one location. Your ZIP code has a big effect on home and auto rates. Staying put means your policies can stay the same, too, making it easier to calculate (and retain) your savings.
• You have multiple policies to bundle together. Bundling home and auto could net you a small discount, but adding a third policy, like umbrella insurance, could score you bigger savings.

When Bundling Can Cost More

Even with a bundle discount, sometimes bundling your insurance policies together is more expensive. Consider these scenarios:

• Your insurer’s base rates aren’t competitive. If the insurance rates for each policy type are high to begin with, a small discount won’t make a meaningful difference. A 15% discount on rates that are 30% higher than competitors still means you’re overpaying.
• There are better standalone policies elsewhere. If your insurance company offers great rates on one type of policy but not another, combining the two could still leave you paying more than you need to. For example, your insurer may offer great auto coverage at low rates, but their renters insurance is expensive (or vice versa) — overall, you’re not getting the best deal. 
• PCS moves change your rate dramatically. PCS orders could put you in a different ZIP code, a different state, or even a different country. Insurance rates vary significantly by location, so if you’re stationed in an area with high home or auto insurance rates, bundling prevents you from rate-shopping for a more competitive deal. Plus, not all bundle discounts apply in all states, so you could lose your discount when you move.
• Policy timing disqualifies you for the discount. Some insurers require you to buy both policies at the same time to receive a bundle discount. If you need auto insurance now, but won’t need home insurance for another six months, bundling policies won’t result in savings.

Bundling vs. Shopping Separate Policies

Before you decide on bundling vs. standalone policies for your insurance needs, you’ll need to compare hard numbers so you can be certain where your best options are.

You can start by contacting your current insurer and asking about the price of adding another policy type to your coverage. Then shop for additional quotes from other companies.

1. Request individual quotes for each policy type. For each insurer, request one quote for auto and one for the other type of policy you’re considering, such as homeowners, renters, or condo insurance.
2. Request a bundle quote from each insurer. Most insurers give you an option to select additional policies when you request a quote online, so you can start with an auto quote and then add condo insurance, for example.
3. Compare the price of standalone policies to bundled policies. Does it cost less to bundle the two policies together with the same insurer? Or is it more affordable to buy one policy type here and another policy type somewhere else? 
4. Make apples-to-apples comparisons. When you’re requesting quotes, it’s very important to keep your coverage selections the same. That means choosing the same deductible, the same policy limits, and the same optional coverages. It may help to note what your current coverages are so you can keep them the same.
5. Look for other discount opportunities. Bundling isn’t the only way to save on multiple policies. As a military member or veteran, you could be eligible for military discounts at insurers like GEICO, Farmers, or Armed Forces Insurance (AFI). There are also discounts for safe driving, low mileage, paying in full, multiple vehicles, automatic payments, or vehicle safety features, among many others. Make sure your quotes reflect all the savings you qualify for.

Questions to Ask

Another important step is to ask each insurer what happens to your bundle discount if you need to PCS to a new state mid-policy:

• Does the discount cross state lines with you?
• Will it be recalculated right away, or when you renew?
• Will you lose the discount if one policy lapses or is canceled?

Special Considerations for Military Families

Many military members assume they’ll find the lowest rates with an insurance bundle from USAA. While you may qualify for lower rates than those who don’t qualify for USAA membership, it’s possible you may find greater savings elsewhere, so don’t stop with just one quote. 

Your rate depends on so many factors that you should always comparison shop to make sure you’re getting the best deal. It’s especially important if you’re moving frequently or facing deployment, as those events can have a big impact on your rates.

How PCSing Impacts Insurance

PCS moves can reset your pricing by changing your address or garaging ZIP code. Different states have different car insurance requirements, which can change the math on savings. For example, suppose your new state requires Personal Injury Protection and Uninsured Motorist coverage, where your old one didn’t. You’ll need to add those coverages to your policy to stay compliant with the law, and that could change your rates.

Whether you bring your vehicle, store it on base, or leave it with a family member will also affect your costs. For instance, USAA offers a discount of up to 15% off the comprehensive portion of the policy.

Keep in mind that you may want to settle your home or renters insurance before you move, not after, so your belongings could be protected. Check whether your new policy will cover you during a move.

Finally, frequent moves could mean abrupt transitions between being a renter and being a homeowner. Renters insurance is typically much cheaper than homeowners insurance, because it only protects your belongings, not the structure itself. If you switch from bundling auto and renters to auto and homeowners, you might find your new rate is higher than you hoped, even with a bundle discount. It could be worth unbundling your policies to find a better deal.

How to Decide If Bundling Is Worth It

You’ve done your research—now it’s decision time. Here’s how to know for sure if an insurance bundle is worth it for military members and their families. 

You SHOULD bundle insurance if:

• The insurance bundle quote is cheaper than standalone policies.
• You don’t mind switching providers (and the paperwork that goes with it).
• You want to manage all of your insurance needs in one place.
• To the best of your knowledge, you’ll be staying put for more than a year.
• You’re happy with the value of the bundle (the level of coverage compared to the price).
• You don’t need any special coverages or policy types that could be better handled by another provider (like classic car coverage, for example).

You likely SHOULD NOT bundle insurance if:

• The cost of an insurance bundle is higher than your quotes for separate policies.
• You expect deployment or PCS orders soon that would impact your rates.
• You need special insurance coverage (SR-22, poor driving record, property in a high-risk area).
• You have a teen driver in your household (you may find cheaper coverage without bundling).
• One of the policies is overpriced compared to the market.

Bottom Line

Of course, only you know the best fit for your budget, your risk factors, and your patience for managing multiple policies. But overall, bundling can really save you money, but only if you run the numbers first to make sure.

The important thing to remember is that you may receive a great discount upfront, but years of loyalty to one company won’t guarantee you low rates. Even if you stay in your current home and keep your current car, market conditions and insurer rate adjustments could still cause your rate to go up. The best way to know if you’re still saving money is to compare quotes regularly.

The post Does Bundling Insurance Really Save You Money? appeared first on The Military Wallet.

When your move doesn’t go as planned, you may be unsure who pays for items lost or damaged during your PCS move. The short answer is that if you used a government-contracted transportation service provider (TSP) to pack and ship your personal belongings, you are entitled to receive compensation, up to the full replacement/repair value of those lost or damaged items. But that doesn’t mean you don’t also need private insurance to protect you from PCS move damage.

Who Is Responsible for Damage During a PCS?

According to MilitaryOneSource, your TSP is responsible for any damage, loss, or even theft of your personal property during your PCS move. This includes items transported in these types of moves: 

• Household goods (HHG)
• Unaccompanied baggage (UB)
• Non-temporary storage (NTS)
• Direct procurement method (DPM) – a local base-contracted move

TSP Liability

Your TSP may be liable for the Full Replacement Value (FRV) of lost or damaged items. According to the Defense Transportation Regulation, the FRV minimum is $10,000 per shipment or $6 times the net weight of a HHG shipment (or the gross weight of an UB shipment), whichever is greater, up to a maximum of $75,000. In order to qualify to receive FRV, you need to file your claim via the Defense Personal Property System (DPS) within twelve months of your delivery date. If you file a claim after twelve months, your TSP is only required to pay the depreciated value.

Note: You will now have 12 months to file a claim for shipments picked up after May 15, 2026. For moves before May 15, 2026, you will only have nine months to file. As of the printing of this article, not all Department of Defense (DoD) websites have been updated to reflect this change. 

Personal Insurance Coverage

The TSP’s FRV liability goes a long way toward replacing items that were lost, damaged, or stolen during your move. However, their liability is capped at around $75,000. If there is a catastrophic event (fire, natural disaster), or if you have high-value items that may not get FRV, then you may want to consider getting a personal property renters insurance policy to cover any gaps. 

What the Military Covers

The government will cover up to Full Replacement Value (FRV) at no cost to you if you move through a contracted TSP. Let’s look at what is actually covered.

Full Replacement Value (FRV)

FRV means that if an item is lost, damaged, or destroyed, the TSP is obligated to pay to replace it with a like item (new or used). So, instead of being paid the depreciated value, you will get paid to actually replace it. You will be required to prove its value and quality, and evidence of what it will cost to replace it. If the item can be repaired (proof from a qualified inspector), and repair costs are less than replacement, the TSP may pay for the repair.

It is important to note that some items may not be replaceable without paying high out-of-pocket costs: for instance, replacing your grandma’s wine glass might cost you $100 on eBay, but the TSP may only pay you enough to buy a similar glass from Target. They will also break it down by item. So if a set of four wine glasses at Target costs $40, they may only pay you $10, leaving you to decide if you want to spend $100 on eBay or just embrace having a mishmashed set.

Here are the limits and exclusions to FRV protection for your PCS moves:

• TSP Liability Limit: The TSP’s maximum liability is capped at $75,000. 
• Time Limit: You have 12 months from delivery to receive FRV
• High-value items: The government’s standard FRV coverage has a maximum payout per item. A separate renter’s policy is recommended when items exceed $100 per pound. Items excluded from this inventory are not covered under FRV.  
• Repair vs. Replace: TSPs are liable to pay the lesser of repair costs or replacement costs.
• PPM/DITY moves: FRV is not included in PPM/DITY moves, unless you buy a separate personal insurance policy.

How to File a Claim Through DPS

There are specific rules, timelines, and documentation needed to file a claim through the Defense Personal Property System (DPS).  Here is a step-by-step guide to filing a claim.

Step 1: Give Written Notice Within 180 Days of Delivery

You don’t need to provide complete details, but you need the name of each item, its inventory number, and a brief description of the loss/damage. You can give multiple notifications if you discover additional items.

Submit the notice in two ways:

• Complete the “Notification of Loss or Damage at Delivery” form with your TSP on delivery day. This is a great way to get it done. You don’t have to have a full list of damages, but telling the mover you intend to file a claim may take the task off your to-do list. 
• Complete the “Notification of Loss or Damage After Delivery” form in DPS.

Quick Claim Settlement: An optional way to promptly resolve minor loss or damage on delivery day is a quick claim settlement, if your TSP offers it. Limits are $2,000 total for your shipment. 

You will file the paperwork on delivery day, and your TSP will send payment within five calendar days of claim submission. While you can’t file claims on those specific items later, you can still use DPS to file claims on other items discovered after delivery.

Step 2: File a Claim Within 12 Months from Delivery

You must file an itemized claim in DPS for any lost/damaged HHGs. If your claim is for NTS or DPM shipments, your claim can be emailed, faxed, or mailed. Check with your contractor for details.

Note: If you can’t access DPS, you can submit your Notification of Loss or Damage At/After Delivery forms to your moving company by mail, fax, or just attach the form to an email to your TSP. 

Step 3: Work with Your TSP to Assess Your Claim

According to MilitaryOneSource:

• Your TSP has 15 calendar days to confirm receipt. They may send a representative to inspect the damage and determine the repair or payment amount. For missing items, they will conduct a search for the item. 
• Your TSP then has 30 days to pay, deny, or make an offer of claims less than $1,000, and 60 days for claims more than $1,000. You can counteroffer, and they have seven days to respond. 
• For Non-temporary Storage or DPM (local contractor) shipments, the TSP must notify you and your military claims office within three business days if they deny liability for the loss/damage. In this case, the Military Claims Office (MCO) will work on your behalf to determine who is responsible for the claimed items

Step 4: Finalize the Settlement

You may settle a claim by accepting in full or rejecting the offer for separate items. The TSP is required to make payment within 30 days from the date the claim was settled. 

If you are not fully satisfied, you can transfer the claim to your MCO if:

• The TSP has denied your claim
• The TSP does not contact you within 30 days
• You choose not to accept their offer

Further communication is then handled outside of DPS. 

Why PCS Move Damage Claims Get Denied

Common reasons claims get denied by DPS or private insurance:

• Missed Deadline: You have 12 months from delivery for FRV. You can submit it later than this, but missing this deadline can result in denial or reduced payout. For private insurance, you must meet their deadline requirements—typically one year. 
• Poor Documentation: If you fail to provide photos of the damage, receipts for high-value items, or an inadequate description of the damage, your claim may be denied.
• Pre-existing Damage: If the TSP said the item was damaged prior to the move, and you claim it was new damage, the claim will be denied. This is why it is important to review the pack out sheet, as many movers will mark all items as damaged, leaving you to have to prove they were wrong.
• Vague Inventory Descriptions: If you have a box that is labeled as miscellaneous, it makes it very hard to prove damage to a specific item, especially if it is a high-value item. Insist upon a detailed inventory when your movers arrive, telling them no box should be marked “misc”. If you have sentimental or high-value items, be sure they are identified and packaged separately.

Tips to Protect Yourself before a Move

Before your TSP shows up, it is important to make sure you are ready for what will be a hectic, fast-paced day of packing. Taking a few proactive precautions will make your move as stress-free as possible, and make the claims process (if you have loss or damage) go smoothly.

Before Packing Day

• Determine if you need to get private insurance. If FRV won’t cover the cost of your belongings, you are doing a PPM, or even a partial PPM, be sure your belongings are fully covered.
• Make your own inventory: Take a detailed inventory of your personal property and ensure you include high-value items. You can find free online inventory apps to make this easier. Include description, condition, and high-quality photos or videos.
• Be super organized: Build a moving binder to have quick access to all of the paperwork that comes with your move. Clearly mark “Do Not Pack” boxes.
• Make sure all items are free of moisture/mold: Depending on how long you HHGs are in NTS or in transit, mold could spread and potentially damage your belongings. 

Packing Day

• Keep track of what your TSP is packing: Have them show you what is inside the box before they tape it.
• Don’t sign the mover’s inventory until you agree on everything listed. Make note of preexisting damage on the inventory form.
• Monitor high-value items: For valuable and high-value items, ensure the make, model, and serial numbers are on the form.
• Speak up: If you disagree with anything on the inventory, make a note in the remarks section.
• Document: Keep your copy of the inventory sheet.

Delivery Day

• Document and report any damage to your mover as the items come in the house. That will help in filing a claim.
• Personally check off all items on the inventory form; don’t let the delivery crew do this. 
• Note any missing items on the inventory sheet before you sign it.
• Note the items that are lost or damaged on the Notification of Loss or Damage at Delivery form.
• Keep your inventory sheets until after the claims process is complete.

Bottom Line

PCS moves are stressful enough without worrying about lost or damaged personal belongings. Being aware of what your TSP covers, what the government will pay for, and how to file a claim, gives you real peace of mind during a chaotic transition. With solid documentation and a little preparation, you can protect your household goods—and make sure you’re compensated if things go wrong. 

The post PCS Move Damage: Do You Need Private Insurance? appeared first on The Military Wallet.

In a deeply personal episode of The Military Wallet Podcast, host Ryan Guina sits down with Krista Simpson Anderson, founder of The Unquiet Professional, to discuss grief, military survivor benefits, estate planning, and the long road families face after the death of a service member. The conversation helps us reflect on some important, yet uncomfortable questions:

What happens to military families after they are given the worst news of their lives? How does a military family rebuild after the unimaginable? While survivors are rebuilding, their minds are not always focused on benefits and paperwork. Military spouses are worried about getting out of bed each day, setting an example for children, and honoring the legacy of their loved one.

The conversation begins with the story behind Simpson Anderson’s nonprofit, founded after her husband, Staff Sergeant Michael Harrison Simpson, a Green Beret, was wounded in Afghanistan and died five days later. Their story was even featured in PBS’ 2025 Memorial Day Special. What emerged from that loss became an organization focused on helping military families prepare for the unexpected while supporting survivors, veterans, and caregivers navigating life after tragedy.

But the episode goes far beyond one family’s story. It becomes a candid guide to military casualty support, survivor benefits, and the emotional realities that often receive far less attention than they deserve.

The Meaning Behind “The Unquiet Professional”

“Honestly, it was created out of grief and gratitude,” Simpson Anderson shared. “I just wanted some purpose—that I wanted to create some purpose not only for myself but to be able to carry on Mike’s legacy of service.”

Simpson Anderson explains that her husband’s Special Forces teammates jokingly nicknamed him “The Unquiet Professional” because, unlike many Green Berets who quietly blend into the background, he openly embraced his identity and service. The name eventually became the foundation of the nonprofit she built in his honor.

Throughout the episode, Simpson Anderson reflects on the importance of legacy — not just in military service, but in the stories families continue carrying long after a loved one dies.

The discussion also highlights the multigenerational military service within the Simpson family and how military identity often becomes deeply woven into family culture. It’s a reminder that when one service member is lost, the impact ripples across spouses, children, parents, siblings, and entire communities.

What Families Experience Immediately After a Casualty

One of the most powerful parts of the episode is Simpson Anderson’s description of the hours and days after learning her husband had been injured.

She walks listeners through the medical evacuation process from Afghanistan to Germany, the emotional uncertainty families face while waiting for updates, and the logistical whirlwind that follows a catastrophic injury or death.

The conversation sheds light on something many military families rarely discuss openly: financial survival in the immediate aftermath of loss.

Simpson Anderson explains how nonprofit organizations like the Special Operations Warrior Foundation and the Green Beret Foundation stepped in to help cover travel expenses while her family rushed overseas. She also notes that not every family has the same support network or financial flexibility.

For listeners unfamiliar with casualty support systems, the episode offers a practical look at how casualty assistance officers, chaplains, and nonprofit organizations can help families during crisis situations.

Why the DD Form 93 Matters More Than Most Families Realize

“We’re so afraid to talk about death, but when I teach, I have to break it to everybody: you are going to die at some point,” Simpson Anderson reminds listeners. “We’re going to have to talk about it.”

One recurring theme throughout the podcast is preparation.

Simpson Anderson and Guina spend significant time discussing the importance of the DD Form 93, officially known as the Record of Emergency Data. The form determines next of kin, identifies beneficiaries for the military death gratuity, and designates the Person Authorized Direct Disposition (PADD), who legally controls funeral and burial decisions.

Listeners hear real examples of how outdated paperwork or unclear family communication can create devastating complications after a death.

For military families, the episode serves as a reminder to regularly review benefits as well as key documents, including:

• DD Form 93
• Servicemembers’ Group Life Insurance (SGLI) beneficiaries
• Wills and estate plans
• Guardianship paperwork
• Powers of attorney

Additional information about SGLI and survivor benefits is available through VA.gov Life Insurance and Defense Finance and Accounting Service (DFAS) Survivor Benefits.

Understanding Military Survivor Benefits

The podcast also functions as a practical primer on military survivor benefits — a topic many families only learn about during a crisis.

Simpson Anderson explains how the $100,000 death gratuity is intended to provide immediate financial relief and discusses how SGLI payments, Dependency and Indemnity Compensation (DIC), Survivor Benefit Plan (SBP) payments, and Social Security benefits work together to create longer-term financial stability.

The episode highlights several important realities:

• Active-duty pay stops immediately after death.
• Some benefits can take months — or even years — to fully process if line-of-duty investigations are delayed.
• SBP payments may be taxable.
• Children may qualify for additional benefits and educational support.
• Survivors may inherit VA home loan eligibility and educational benefits like the U.S. Department of Veterans Affairs Fry Scholarship.

Listeners also hear about the Love Lives On Act, legislation advocates have pushed to eliminate remarriage penalties that can strip surviving spouses of key benefits if they remarry before certain age thresholds.

More information about DIC and survivor compensation can be found through VA Dependency and Indemnity Compensation.

The Emotional Side of Rebuilding After Loss

While the episode covers financial and legal issues in detail, it ultimately centers on something harder to quantify: identity, grief, and rebuilding community.

Simpson Anderson describes how surviving spouses are often surrounded by support immediately after a casualty, only to later feel isolated once the initial attention fades. She shares how military identity can disappear almost overnight for surviving spouses who suddenly lose connection to their unit, installation, and community.

The episode explores how organizations like The Unquiet Professional create spaces for survivors and veterans to reconnect through retreats, outdoor activities, and peer support.

Listeners also hear about the importance of maintaining a loved one’s memory through storytelling, advocacy, and shared community.

Creating a “Life SOP” for Your Family

One of the most actionable sections of the conversation focuses on practical preparedness.

Simpson Anderson encourages military families to create what she calls a “Life SOP” — essentially a centralized system containing critical personal and financial information. She describes maintaining a “Life Binder” with documents such as:

• Birth certificates and passports
• Driver’s licenses and military IDs
• Medical records
• Insurance information
• Utility accounts
• Estate planning documents
• Password management information

She also discusses using Keeper Security for password management and stresses that both spouses should know how to access important accounts and records.

The message throughout the episode is not fear-driven. Instead, it’s about reducing chaos during moments when families are already overwhelmed by grief and uncertainty.

A Conversation That Extends Beyond Memorial Day

Although the episode touches on Memorial Day reflection, its broader message applies year-round: military families deserve honest conversations about preparation, survivor support, and the realities of military life after loss.

For service members and spouses alike, this episode offers both emotional insight and practical guidance — from understanding benefits and paperwork to preparing families for worst-case scenarios no one wants to imagine.

Simpson Anderson closes with a message that captures the heart of the discussion: 

“Prepare for the worst, pray for the best, and just love your people.”

The post Krista Simpson Anderson Discusses Military Loss, Legacy, and Survivor Benefits on The Military Wallet Podcast appeared first on The Military Wallet.

When should you shop for new insurance coverage? A typical answer is “before your policy renews,” but that is not necessarily true. Switching insurance companies often is the result of major life changes. This article will help you leverage the churn of military life to help save you money.

How Much Can You Save by Shopping for Insurance?

In the military, loyalty is a core value. The same can’t be said for insurance companies.

Truth is, carriers change pricing frequently, and loyalty is rarely rewarded. 

“Insurance pricing reflects evolving risk conditions, including catastrophe losses, inflation, repair costs, and reinsurance expenses. Because of this, rates are regularly updated, and long-term loyalty doesn’t always result in lower premiums,” said Janet Ruiz, Director of Strategic Communication for the Insurance Information Institute, in an interview with TWM.

Fortunately, comparing price quotes from several different carriers could pocket you some serious savings. How much? While the experts differ in their answer, the consensus is that it’s a substantial sum.

“A comparison of auto quotes can result in drivers possibly saving $400 to $800 per year,” said Rami Sneineh, owner of Insurance Navy Brokers. “And home insurance policyholders can typically pay 15% to 25% less in premiums by shopping around.”

Nathan Haas, a personal finance coach who is currently in the Air National Guard, says one of his clients switched all of his vehicles to a different insurance company, which reduced his rates by nearly $400 a month. This is an unusually large savings amount that may reflect multiple vehicles or prior overpricing. Drivers can realistically expect to save several hundred dollars annually.

“Even renters can benefit here, perhaps by saving up to $100 a year,” Haas said.

Of course, the savings you net will depend on your eligibility for different discounts.

A Consumer Reports survey of Americans last year revealed that switching car insurance yielded a median annual saving of $461, nearly a third of the median premium. Just over 40% of those who switched auto insurance saved at least $500, and those paying the highest premiums saw median savings of $922 annually, with 13 percent of all switchers saving $1,000 or more.

How Often Should You Shop for Insurance?

The pros recommend reviewing and comparing policies at least once a year, or whenever there is a major life change. Doing so can help coverage remain appropriate and competitively priced.

“I would shop auto insurance every six to 12 months, and shop homeowners or renters insurance before each renewal,” said Dennis Shirshikov, an adjunct professor of economics and finance at City University of New York/Queens College. “Rates change often, and a simple comparison prevents a family from carrying an outdated price into the next policy period.”

Even if you don’t ultimately switch carriers, garnering premium quotes will ensure more competitive pricing.

Life Events That Should Trigger Shopping for New Insurance

Aside from the general recommendation of insurance shopping every six to 12 months, it’s also a good idea for military members to perform this due diligence at other intervals, as necessary. Here’s a breakdown of life circumstances that warrant fresh quote gathering.

PCS (Permanent Change of Station) Moves 

Your location is one of the biggest pricing factors that an insurer will consider. If you plan to move to another state, that can significantly change the rate you are charged.

“Changing states can change your auto insurance rate by hundreds of dollars. Before a PCS relocation, be sure to obtain new insurance quotes,” said Sneineh.

This happens because insurance prices are calculated based on risk assessment. And some areas have a higher likelihood of policyholders needing to make a claim. For instance, if you live in a city where cars and homes are often broken into, expect to see higher renters or homeowners insurance rates.

“Think about areas with a higher occurrence of natural disasters, or when you live in a highly populated area, which can lead to more car accidents. Maybe your current carrier’s risk assessment calculator says the risk is higher in your new PCS area than a competing insurance company,” said Haas.

Moving into or out of Military Housing

Moving into or out of military housing can change your insurance responsibility and risk profile. In military housing, the government or a private partner typically covers the structure itself. However, residents are often required to obtain a separate, dedicated renters’ policy to safeguard their possessions and provide liability protection, which may not be included in the basic housing agreement. So if you plan to move off-base and rent a property, it’s crucial to obtain adequate renters insurance. Conversely, if you move onto an installation after having lived in civilian housing, you can’t assume you are covered.

Also, give thought to other risks and gaps that can leave you financially vulnerable. For example, household goods in transit or storage needed during a PCS should be adequately protected. Check, too, that your policy provides replacement cost coverage instead of merely actual cash value reimbursement. 

Buying or Selling a Home

If you plan to purchase a home, it’s essential to have sufficient homeowners insurance coverage in place. The same goes for tenants and those renting while they transition to first-time homeownership or their next home. A renters insurance policy will safeguard your belongings and provide some liability protection during this transition. 

There are also opportunities to bundle policies under one carrier and earn a discount. Case in point: having an auto policy, homeowners policy, and life insurance policy with the same insurer can likely shave serious dollars off your total costs.

Buying or Selling a Vehicle

Planning to acquire or unload an automobile? The make and model of your next car can significantly impact what you’ll pay for insurance. Take the time to shop around and obtain several rate quotes before committing to your next vehicle so that you know what you can expect to pay for coverage.

Adding or Removing Drivers

Planning to get married? Have a teen driver who’s ready to earn their driver’s license? Adding another driver to your policy can lead to a steep jump in premiums. On the other hand, if a family member moves out and is no longer on your policy, you stand to reap notable savings.

“This is a big one, especially when it comes to kids. They can easily double your insurance amounts,” said Haas. “By switching insurance companies, you may get a new, lower rate, which can help offset the increased cost of adding a teenage driver to your insurance.”

Deployment or Vehicle Storage

If you’ve been deployed, and your vehicle will be sitting idle, you can decrease your insurance bill by changing your policy to reflect the car’s storage status. You can opt for comprehensive-only or “storage” coverage if you won’t be driving; this removes costly collision and liability protections but still keeps the auto protected against fire, weather damage, and theft. The premium savings could be substantial. 

But it’s important to contact your carrier prior to being deployed so that you can ensure this change is properly documented and verified that your car remains covered while sitting in its particular storage location. 

Major Life or Financial Changes

Other significant life or money changes can also affect your insurance risk profile and lower your insurance rates. These include: 

• An improved credit score 
• A shorter work commute
• Getting older – typically, rates drop gradually through your 20s assuming a clean record
• Retiring
• Switching to a lower-risk job or profession 
• Paying off an auto loan (eliminating the lender-required comprehensive and collision coverage if appropriate for your vehicle’s value)
• Earning a degree
• Having your college student live away on campus without a vehicle
• Completing a defensive driving course
• Installing a home security system

Why Insurance Rates Change Over Time

It’s little surprise that insurance premiums adjust over time, trending upward in most cases.

“That’s because insurance rates reflect broader economic and environmental trends, including rising construction costs, increased weather-related losses, and supply chain pressures,” said Ruiz.

Varying inflation rates, regional accident trends, and unique risk models from insurer to insurer can also play a role in pricing.

“Your rate can rise even if you’ve never filed a claim,” said Brad Cummins, independent insurance agent and founder of Insurance Geek. “Increased reinsurance costs after catastrophe years, larger court verdicts in liability cases, and carriers adjusting based on claims experience in your specific area also have an impact on rates.”

It’s simple math: Carriers will raise rates to offset the loss of profit they are observing in a particular area.

“Also, when you begin with a new insurance company, they may provide discounted rates to attract you, which is normal for the first year. Then, after that time is over, your rates will increase because you lose that discount,” said Haas.

When Switching Insurance Companies Makes Sense

It’s a smart idea to consider replacing carriers when the time is right.

“Switching can make sense when another insurer offers equal or better coverage at a lower total cost, which you won’t know unless you shop around,” said Shirshikov. “It can also make sense after a PCS move because the strongest carrier in one state may not be the strongest carrier in the next state.”

If you are dissatisfied with your current insurer’s customer service, that could be a strong enough trigger to jump ship, as well.

“Or, if an insurance claim has dropped off your record, which can take five to seven years, or your credit has improved significantly, you should shop immediately,” said Cummins. “And a rate increase that is not triggered by a change in your risk profile is another clear signal that it’s time to price competitors.”

Just be aware that switching could result in a cancellation fee charged by the insurer if you cancel your policy before its term expires. Thankfully, most insurance companies permit you to switch for no charge. But if you are charged a fee, it will likely range between $25 and $50. However, some carriers assess a penalty equal to 10% of your remaining prepaid premium. Check with your agent/company and confirm if and when a fee applies before making the switch.

When You Might Stay with Your Current Insurer

“Remaining with your existing insurer can make sense if you benefit from bundling discounts, loyalty programs, or strong claims service and coverage stability,” said Ruiz.

If you have a policy with accident forgiveness included, that’s a valuable perk you may not want to give up. And if you had a recent at-fault claim, your next insurer will be aware of it, which means switching in this scenario may not save you any money.

“If your pricing won’t change much at all, it is almost always better to stay with your current carrier. When you shop for insurance, one of the things companies look for is how long you have been with your last carrier and how long you have had continuous insurance coverage overall,” said Haydn Sessions, owner of Sessions Insurance. “Generally, the longer you can stay, the better.”

How to Shop for Insurance the Right Way

To improve your odds of landing a better deal and ensuring appropriate protection, follow these recommended steps:

1. Compare multiple quotes from different insurers.
2. Make sure coverage levels and deductibles are comparable. “Have your current declarations pages in front of you, and request quotes using the same limits, deductibles, endorsements, address, drivers, and property details,” said Shirshikov.
3. Inquire about discounts. There are discounts for being a veteran or service member, and having things like multiple policies, a security system, and a safe driving record.
4. Ask key questions. “Find out what’s allowed and covered when it comes to deployment storage, replacement cost, flood or wind needs, cancellation timing, and whether the new policy starts before the old one ends,” said Shirshikov.
5. Review the insurer’s financial strength and customer satisfaction ratings carefully before switching.
6. Use military transitions to prompt you to shop around. If you have to move every few years, take advantage of these times of change and potentially save money.

Common Mistakes to Avoid when Shopping for Insurance

When shopping around, you also want to steer clear of common errors that many policyholders make, including:

• Choosing coverage based only on price
• Letting policies lapse during transitions between carriers
• Failing to disclose accurate information
• Not updating coverage after life changes
• Lowering coverage to save money, which could leave you financially vulnerable in the event of a loss
• Switching too frequently without evaluating coverage carefully
• Insuring a home for actual cash value instead of replacement cost coverage
• Not inquiring about every possible discount
• Assuming one carrier is always the best without actually comparing all the factors, including coverage limits, deductibles, exclusions, service reputation, discounts, claims process, and whether the policy fits your PCS or deployment situation.

Special Considerations for Military Families

Military families commonly deal with frequent or unexpected relocations, multi-state insurance requirements, and deployment-related adjustments. That’s why regularly reviewing your policy and obtaining competitive price quotes is strongly recommended.

“Active duty members often move every two years or so and frequently experience major life events,” said Haas. “Any number of these will change their risk profile, either up or down, so it’s wise to shop around for new insurance after each significant event.”

When gathering price quotes, confirm how each carrier handles PCS moves, garaging address changes, vehicle storage, deployment periods, renters coverage in military housing, and state-specific insurance rules.

“Also, remember to keep your insurance coverage active during transitions,” said Shirshikov, “because a gap can create higher rates and claim problems later.”

The Bottom Line

Shopping around for insurance is one of the easiest ways to save money, especially for military families whose lives change frequently. To spend less on premiums without sacrificing crucial coverage, make the effort to price around among several different insurance companies, and repeat this practice on a regular basis, at the very least before renewal time.

The post When Should You Shop for New Insurance? appeared first on The Military Wallet.

Umbrella insurance covers you when your auto and property insurance policies fall short. It can provide a high degree of financial protection when faced with exorbitant liability claims. But these days, budgets are tighter than ever. While umbrella insurance would be great to have, do you need it? Can you afford it?

Let’s get into it.

What Is Umbrella Insurance?

An umbrella policy is a low-cost way to extend the coverage of primary insurance policies. This insurance unites multiple policies under a single “umbrella”. This offers extra coverage if a liability claim exceeds the limits of the underlying policies.

Imagine you have a $25,000/$50,000/$25,000 auto insurance policy, common minimum limits. That means your policy insures you for up to $25,000 in bodily injury per person, up to $50,000 total per accident, and $25,000 in property damage. But if you cause an accident that injures three people, whose total medical expenses exceed $500,000, where will that extra $450,000 come from?

If you have it, your umbrella policy will kick in, paying the remaining amount you are liable for and possibly legal fees related to the accident. Otherwise, you could be forced to cover the rest from savings, wage garnishments or even having to sell your house.

Umbrella insurance policies require you to maintain certain minimum limits on your underlying insurance. For instance, GEICO requires you to carry $300,000 in liability on your homeowners policy and either $250,000/$500,000/$100,000 or $300,000/$300,000/$100,000 on your automobile policy before you can qualify for their umbrella insurance. Other companies have different requirements. And some companies, like USAA, stipulate that your underlying policies be maintained through them, making your umbrella policy an add-on.

What Umbrella Insurance Covers…

Umbrella insurance pays liability claims in excess of what primary insurance policies cover, according to the National Association of Insurance Commissioners (NAIC). These policies are based on underlying auto and property (homeowners or renters) insurance policies, extending coverage in catastrophic liability scenarios that could otherwise financially break you. 

Umbrella coverage accomplishes this in two ways. First, it increases the maximum your insurance will pay out, often several times more, as discussed in the previous example of the catastrophic car accident.

Second, umbrella insurance also expands the scope of covered claims. Umbrella insurance frequently covers these types of liability claims, according to Capital Insurance Group:

• bodily injury or wrongful death caused by an accident, or negligence
• property damage to others for which you are legally responsible
• personal injury and liability claims such as libel, slander, defamation, wrongful eviction, or invasion of privacy
• legal defense for the above

Standard homeowners policies don’t always cover the items in the last two bullets, unless additional endorsements are added.

…And What Umbrella Insurance Doesn’t Cover

As great as it is, umbrella insurance doesn’t cover all of the potential reasons you could find yourself on the receiving end of a liability lawsuit. It’s important to understand the limits of your policy.

For instance, USAA’s umbrella insurance specifically prohibits coverage related to “rideshare and homeshare” commercial activities.

They also don’t cover claims related to these types of home business activities:

• food delivery
• day care
• massage therapy
• salons
• farming
• professional services, such as photography

And they won’t cover:

• purposeful criminal acts and omissions
• loss assessment payments
• contract disputes

And USAA isn’t the only one whose umbrella policies may not cover these situations. If you need to get insurance for these types of activities, you can seek out commercial liability policies that specifically cover these instances. An umbrella policy likely won’t.

Why Military Families Should Consider Umbrella Insurance

Sometimes, being in the military feels like living in a protective bubble, and we may underestimate our risk of being held financially liable for accidents and negligence. 

According to GEICO, people who should consider umbrella policies include those who: 

• own valuable assets (such as a house)
• host guests frequently 
• insure teen drivers
• own dogs, trampolines, or swimming pools
• coach youth sports
• volunteer regularly
• are active on social media (due to libel/slander lawsuit risks)
• a high net worth

Plenty of military families fall into one or more of these categories. And while an insurance company will always urge you to err on the side of caution, considering these categories is a great starting point for assessing your lawsuit risk. 

Military families also have some additional reasons to consider umbrella insurance.

PCS Rental Scenarios

Basic insurance policies cover liability claims for people living in their own homes, but what if you rent out your home to others when you PCS to a new location? This turns you into a landlord, opening your family up to new kinds of liability. 

For instance, if a tenant falls on your property and injures themselves, they can sue you for negligence if they can link their fall to a maintenance issue. Negligence lawsuits represent 36% of liability claims against landlords, according to claims data released by Hylant, an insurance brokerage firm. 

Other claims against landlords, as noted by Hylant, included lawsuits for unintentional data disclosure, breach of contract, and unauthorized contact, none of which your standard policy would cover unless you have a specific endorsement.

Deployment Risks

Everyone in the military is subject to being deployed on short notice, which means that you may have to leave your property unattended while serving your country overseas. With fewer eyes on your home, there is a greater risk of something happening on your property for which you could be held financially liable. 

For instance, if someone injures themselves on your property–even if they do not have your permission to be there–you could be held liable for their injuries. The same applies to people working on your property during your absence, such as landscapers and other maintenance contractors, which is also known as premises liability, according to Rose, Klein & Marias LLP, a law firm.

Around 7% of fires occur in vacant buildings according to data from the U.S. Fire Administration, a government agency. 

Multi-State Living

And even if you are not deployed or renting your house out, living in more than one state can multiply your legal liability, such as in the case of a geographical separation between a service member and family. Maintaining more than one household increases your risk of accidents due to empty-property hazards, such as fire, which can damage others’ property and injure neighbors.

Living in more than one state also often requires adherence to complex insurance requirements and liability laws that vary by state, according to Farm Bureau Financial Services. Umbrella insurance provides an extra layer of coverage when liability limits are exceeded in high-risk scenarios that many military families face. 

How Much Coverage Do You Need?

Experts recommend umbrella insurance when your assets or earning potential exceed the limits of your existing policy. If you don’t want to lose money in a potential liability scenario, it is recommended to have the amount of the umbrella insurance coverage equal the value of your assets, including your house and savings. 

Most personal umbrella policies are written for amounts between $1 and $5 million, according to Experian, a credit reporting agency. By matching your coverage amounts to your total net worth, you can protect some or all of your assets in the event of a liability suit.

But your personal assets could still be at risk if you are liable for more than your underlying and umbrella policies cover. The larger your “umbrella” is, the more it protects you from the turbulent events of life. Your relative risk level and the affordability should also be factors in determining the amount of umbrella coverage you need. 

How Much Does Umbrella Insurance Coverage Cost?

The best part about getting an umbrella policy is how cheap it is, given how much protection it offers. The average annual cost of a $1 million umbrella policy in 2025 was $383, according to Experian. 

Your exact cost depends on many factors, as with any insurance, but count on spending a few hundred dollars per year for every $1 million dollars of umbrella coverage you acquire. 

For instance, take a look at Mercury Insurance’s 2026 published umbrella insurance rates:

• $300 to $600 for $1 million total coverage
• $600 to $1,000 for $2 million total coverage
• $1,000 to $1,800 for $5 million total coverage

It is important to note that insurance rates are highly individualized. As with any insurance, shopping around for different quotes can help you find the best rates, but it’s also important to research the reputation and customer satisfaction at these companies. 

When Umbrella Insurance Makes Sense

Umbrella insurance makes the most sense in the following scenarios:

• homeowners with equity
• landlords (including accidental landlords)
• higher income households
• families with significant assets

Given that $1 million in coverage can cost as low as $25 per month, the additional peace of mind an umbrella insurance policy provides is worth it for many military families. 

When It May Not Be Necessary

If you’re 19 years old, living in the barracks, and don’t have high-value possessions or savings, then umbrella insurance may not be worth it. 

It also might not be necessary if you are older but have a low risk of being held financially liable for accidents or negligence, such as if you don’t drive and/or don’t own a home or rental property.

Common Mistakes

If you decide not to get umbrella insurance, make that decision carefully and consider double-checking with a financial advisor. One of the biggest financial mistakes people make is being underinsured. Things happen in life, and once your primary insurance is exhausted, a court can hold you personally financially responsible for liability claims. That could mean losing your house, your possessions, or even having your future wages garnished. 

Not understanding the ways you are exposed to high liability claims, such as being a landlord, can be a costly mistake. 

Bottom Line

For many military families, umbrella insurance is worth it. It expands the scope and liability coverage of underlying auto and property insurance policies for a few hundred dollars per year, the cost of a weekly cup of coffee at Starbucks. 

If you own anything of high value, including a house, you want to make sure your insurance can cover liability claims at least up to that amount, so you won’t end up literally homeless in the aftermath of a lawsuit. 

Whether you think of it as peace of mind or a strategic way of protecting your assets, the cost of umbrella insurance is astonishingly low for the ways in which it can protect you. 

The post Should Military Families Carry Umbrella Insurance? appeared first on The Military Wallet.

Finding reliable homeowners insurance near bases can be a challenge. Many carriers view certain areas as high-risk home insurance locations due to environmental factors or local crime statistics. When navigating PCS home buying insurance, it’s vital to research the specific insurance risks in military housing areas to ensure your new property is fully covered against unique regional threats. Read on to learn more about home insurance military base matters you should consider carefully.

Why Location Matters More Than You Think

Ask Janet Ruiz, director of Strategic Communications for the Insurance Information Institute, and she’ll tell you that location is one of the biggest drivers of homeowners insurance costs and availability.

“That’s because it determines exposure to natural disasters, local building costs, and claim frequency,” Ruiz said in an interview with TMW. “Even within the same region, proximity to wildfire zones, flood plains, or coastal areas can significantly affect premiums and coverage requirements.”

Haydn Sessions, agent and owner of Sessions Insurance in Ogden, Utah, says military families need to ask themselves these questions:

“Will you be near a big city?”

“What is the crime rate like?” 

“Will you be in a rural area prone to fires?”

Military families must also consider median home values within military base host cities.

“Home values can run from $171,900 in Fayetteville, North Carolina, near Fort Liberty [re-renamed Fort Bragg], to $848,500 in San Diego, near Naval Base San Diego,” said Thomas Rewwer, founder of AmericaByNumbers.com, an independent US economic-data publisher. 

“A military family involved in a Permanent Change of Station (PCS) from one base to another isn’t just changing addresses: They are significantly repricing every dollar of dwelling insurance coverage.”

Common Risks Near Military Bases

Let’s take a closer look at different areas around the country where duty station location can increase your insurance risks and costs.

Coastal Bases

Storm surges, mold, and mandatory flood insurance are among the factors you need to consider before purchasing a home in a coastal area. 

“In coastal states, where flooding is common, your mortgage company may require you to carry a separate flood policy, which can be very expensive,” said Lauren McKenzie, a senior insurance agent with A Plus Insurance in Sierra Vista, Arizona. “Or, your home may be in an area that is uninsurable, and you will be forced to choose a policy with a high-risk company.” 

Coastal bases near cities like Jacksonville or Pensacola, Florida, and Norfolk, Virginia, or layer hurricane risk on top of everything else.

“Wind damage, storm surges, and flooding are each covered differently by insurers. Wind is covered in most standard homeowners policies, but flood requires a separate policy through the National Flood Insurance Program or a private insurer,” said personal finance expert Andrew Lokenauth.

Western Bases

Homes near bases in western states, like California, are vulnerable to wildfires, earthquakes, drought-related soil instability, and rebuilding cost inflation.

“In heavily forested areas or rural areas, wildfires pose a huge risk, making home insurance expensive and sometimes selective,” said McKenzie.

Standard homeowners’ policies may cover fire damage. But in high-risk wildfire zones, carriers are often pulling out or raising premiums to levels that homeowners cannot afford.

“Some homeowners near California bases have had their policies non-renewed with almost no warning,” said Lokenauth.

Sessions recommends looking up the area’s fire score via sites like Redfin. Scores typically range from one to 10, with higher numbers indicating greater risk. Other risk assessments can be found by visiting the U.S. Fire Administration’s website, a division of FEMA. These resources can help you determine your risk and the affordability of insurance.

Southern Bases

Some of the same threats that impact homebuyers in coastal states also affect areas in the South. These risks include hurricanes, severe convective storms, flooding, and mold. 

“Bases in Louisiana, Mississippi, and the Carolinas, for example, sit in areas that commonly flood,” said Lokenauth. He adds that the cost can run into the thousands. “If your policy doesn’t cover mold, you have to absorb that cost yourself.”

How These Risks Affect Insurance Costs

All of these factors can make insurance difficult to obtain, limiting your choices for coverage and cost.

“Higher exposure to disasters like these increases expected losses for insurers, which can lead to higher premiums, larger deductibles, reduced coverage options, or the need to secure coverage from specialty or residual market insurers,” said Ruiz.

A home that initially appears affordable can quickly become unaffordable after adding homeowners insurance premiums in higher-risk areas. This should give military families pause when buying a home.

“That’s why it’s essential that buyers get several different insurance quotes prior to removing any contingencies in a real estate contract,” said attorney Nick Heimlich.

What Coverage You May Need

Standard homeowners’ policies typically cover fire, theft, liability, and wind damage in some cases, but gaps exist. In Florida, for example, many policies exclude windstorms according to Novatae Risk Group. Homeowners’ policies generally exclude other major perils as well. That’s why homebuyers near military bases may also need separate:

• Flood insurance
• Windstorm or hurricane deductibles/endorsements
• Earthquake coverage
• Extended replacement cost coverage to account for rebuilding inflation

“Other optional coverages and separate policies can include water backup coverage and increased mold coverage,” said McKenzie.

Also, if you plan to purchase in a wildfire zone, ask your insurance agent if your policy will cover debris removal, which can run tens of thousands after a fire.

But natural disasters are not the only factors that may impact cost. Military families who elect to rent out their home will have additional considerations.

Whatever your reason for moving, whether it’s a PCS or another life change, renting out your home can affect your homeowners insurance coverage. Standard homeowners policies often limit or exclude coverage once tenants occupy the property long-term. So, you may need a landlord insurance policy to ensure you are properly protected.

Lastly, consider adding an umbrella insurance policy, which offers an extra layer of liability coverage that kicks in after the limits of your standard homeowners’ insurance are applied. Umbrella insurance provides broad coverage for major claims, including catastrophic accidents and libel, protecting you and your personal assets from costly litigation. 

PCS Considerations for Homeowners

A PCS move can affect insurance needs due to differences in risk exposure, state regulations, and housing type (off-installation versus on-installation).

“It’s important to reassess your coverage limits, update policies promptly, and ensure there are no gaps during the PCS transition,” said Ruiz.

If you are moving out but your property is vacant while you wait for a buyer or renter, your standard homeowners insurance policy may not cover the home. Most carriers limit coverage on vacant homes after 30 to 60 days. Consequently, you may need a vacant home policy or a landlord policy, depending on your situation.

“If you are renting out your home during a PCS, your rental income is now a financial asset worth protecting. Landlord insurance will cover property damage and liability when tenants are in the home, and it’s a separate policy from standard homeowners coverage,” said Lokenauth. “Don’t assume your existing coverage will carry over. Call your agent or carrier the moment your orders come through, and fully understand what changes in your policy.”

Questions to Ask Before Buying

To safeguard your interests and protect against financial losses, it’s crucial to ask key insurance-related questions before purchasing a home near a military base, such as:

• What are the area’s primary weather or catastrophe risks?
• Will I need separate policies for threats like flood, earthquake, mold, wildfires, etc.?
• How have insurance costs changed in this zip code recently?
• What is the claims history of the property (via a CLUE report)?
• Are there restrictions on renting or short-term leasing if I am reassigned?
• Are insurers actively writing new policies in this market?
• How close is this home to a fire station?
• What options do I have for deductibles in terms of wind/hail and hurricanes?
• What additional endorsements will I need to keep me covered, and how much will those extra costs be?

“The more you ask before closing, the fewer surprises you will face later,” said Lokenauth. “Get an insurance cost estimate before you close, and ask your agent whether the area is losing insurers. In some high-risk markets, your choices may already be narrow.”

Luckily, there are military-focused insurers who want to be the coverage of choice for military families, but that doesn’t mean costs will be as low in high-risk areas.

The Bottom Line

When you are planning to purchase a home near a military base, don’t leave anything to chance, especially when it comes to homeowners insurance. Take the time to thoroughly investigate what will and won’t be covered, your expected costs and deductibles, and different risks that can leave you vulnerable.

The post Buying a Home Near a Military Base: Insurance Considerations appeared first on The Military Wallet.

If you have ever wondered whether mental health care could actually make a difference in your life, the VA wants you to hear directly from veterans who have been through it. 

Visit MakeTheConnection.net/MHM to see what they have to say.

Veterans Tell Their Own Stories

This VA Mental Health Month campaign puts those who have served front and center. Men and women from all branches of service, spanning many different eras, share their personal experiences with mental health challenges and recovery. They talk about what was hard, what helped, and how their lives look different today because they asked for support.

If you’re reluctant, unsure, or feel a loved one is experiencing this but won’t talk about it, I’d encourage you to just take a look. It may not affect you at all, but if it does, it could offer insight into how you or your loved one can get help. 

You will hear from veterans who dealt with post-traumatic stress, depression, substance use, and more. Many of them describe waiting too long to get help and then discovering that treatment changed things in ways they did not expect. Their honesty makes these stories worth watching and reading.

What the VA Hopes the Campaign Offers You

The Mental Health Month campaign site gives you practical, relatable resources throughout May. Here is what you can find:

• Video stories from Veterans about what pushed them to seek help and what changed after they did
• Guidance on how to recognize when it is time to talk to someone
• Resources for family members and friends who want to support a Veteran in their life
• Information about the types of mental health treatments available through the VA

You Do Not Have to Figure This Out Alone

If you have separated from service and feel like civilian life does not quite fit, or if you carry things from your time in the military that weigh on you, you are far from alone. The VA reports that veterans from every background struggle with mental health at some point. Oftentimes, the difference between those who improve and those who do not comes down to one thing: asking for help.

Asking for help is not a sign of weakness. It is actually one of the harder things to do, and veterans who have done it say it was worth it. 

The Mental Health Month campaign makes it easier by showing you exactly what that process can look like, from someone who has lived it.

How to Take Action This Month

Head to MakeTheConnection.net/MHM and explore the content at your own pace. You can watch short videos, read stories, or look up resources in your area. You can also share the site with other Veterans, your family, or your community.

If you are in crisis right now, reach out immediately. Call or text 988 and press 1 to reach the Veterans Crisis Line at any time of day. You can also text 838255 or go to VeteransCrisisLine.net to chat.

The post VA Launches Mental Health Month Campaign Focused on Veterans Testimonies appeared first on The Military Wallet.

Because insurance is there to safeguard you and your family from financial loss, it’s important to know what happens to your insurance when you move, especially across state lines.

What Changes when You Move States

Insurance is regulated at the state level, meaning each state sets its own rules for required coverage and minimum coverage limits. Your current policy may comply with your current state, but it falls short in your new state.

A Permanent Change of Station (PCS) move is a great time to review your auto and home insurance policy. There will be differences in coverage and costs from state to state. So, you will want to ensure you are covered during your move and once you’re settled into your new home.

Some insurance companies provide a short grace period, usually 30 days, to update your policy after you move. Ask your insurance company as soon as you know you are going to move to confirm their policy and review requirements in your new duty location. 

Insurance Coverage in Common Military Duty Station Locations

Because home and auto insurance coverage is regulated by each state, coverage and costs differ greatly across common military duty station locations such as California, Florida, and Texas. 

According to Insurance.com, insurance rates in Florida are often driven by natural disasters, such as hurricanes and flooding. Other states require high costs due to strict regulations and high litigation rates. Recent wildfires and other disasters in Texas have driven up insurance rates. As of 2024 (the most recent data available) Texas homeowners pay an average of $1,900 per year versus the U.S. average of $1,200 according to the Federal Reserve Bank of Dallas.

On the other hand, according to U.S. News and World Report, some states with large military installations, like Ohio and Hawaii, offer some of the lowest insurance rates. Moving from one duty location to another can have a major impact on your insurance bill, for better or worse. 

Auto Insurance Changes

States differ in their minimum requirements for liability and uninsured/underinsured motorist coverage. Collision and comprehensive coverage requirements are typically determined by lenders or vehicle owners. For example, consider a PCS move from Wright-Patterson Air Force Base in Ohio to Edwards Air Force Base in California:

California: You will need the vehicle’s title, proof of insurance, a valid smog certificate (if required), and payment for registration fees. 

Ohio: You will need proof of ownership, valid identification, proof of insurance, and a Vehicle Identification Number (VIN) inspection if you are bringing the vehicle to Ohio from out of state. 

How much is auto insurance?

Average auto insurance costs: 

• Ohio: $1,842 annually
• California: $3,119 annually

Renters and Homeowners Insurance Changes

Your new home will bring new risk factors, which affect your renters and homeowners insurance coverage and premiums. If you stay with the same insurance company, they will need to write a new policy for the new home. You just need to ensure the new policy is active at closing. For renters insurance, you will just need to update your policy to your new address.

Using the same PCS example:

Renters Insurance* (recommended: $100,000 liability)

• Ohio: $203.91/year
• California: $202.37/year

Homeowners Insurance** ($500,000 replacement value)

• Greene County, Ohio: $2,787/year
• Kern County, California: $1,936/year

Source: Insurance.com*

Source: U.S. News and World Report**

When You Need a New Policy

Home and Renters Insurance

Because every home is unique, you will need a new home insurance policy. Depending on your insurance company, you may be able to use them at your new home. Just know that not all insurance companies or agents are licensed to write policies in all states. So PCSing to a new state could mean big changes in your home or renters policy. Check with your agent to see if they can continue to serve you. 

If you go from on-base housing to buying a home off base, you will have to switch from renters insurance to homeowners insurance. 

Auto Insurance

If you are insured by one of the major insurance companies that operate nationally, you will need a new policy, but your agent can work with you on making the transition from your current location to your new duty assignment. 

If you have a local insurance company that does not operate in your new duty location, you will have to shop around and find a new auto insurance company. This is a great time to shop for rates.

How PCS Moves Complicate Things

If a PCS move was not stressful enough, your move complicates your insurance situation by creating a temporary, high-risk period where you may own two homes, have to transport your household goods across state lines, and drive your car across several states before you set up your new home. This could result in potential coverage gaps and temporary overlap. 

The best way to prevent any gaps is to notify your insurer of your move 30 to 60 days in advance and update your policies to maintain coverage. Your auto insurance may not apply in your new location, and could prevent you from making a claim if you were in an accident.

Your current policy won’t apply to your new home, so you will need a brand-new policy. Depending on the area, your premiums could increase to cover new risks.

Short Term Housing

During your move, you are likely to be in temporary lodging. Your current homeowner’s insurance may not cover your personal belongings during your stay in temporary lodging. You may want to set up a new homeowners or short-term renters insurance policy to be safe. Ask your insurance agent if you can get a rider to your current homeowners policy, or if you would need to take out a separate policy.  

Common Mistakes

Here are a few common mistakes military families make when updating insurance when moving to a new state:

• Letting your policy lapse: Always overlap your old and new policies by at least one day to avoid coverage gaps or being underinsured.
• Assuming that your coverage automatically transfers: Old coverage may not meet the new state’s minimums.
• Not updating your current address: This affects rates, coverage, claims, and the ability to register your car in the new state.
• Forgetting to cancel old insurance: You will still be billed, even after you have moved.
• Not comparing quotes when reviewing or renewing policies: A little research can save you hundreds.

Bottom Line

Moving is part of military life, but navigating insurance doesn’t have to add to the stress. Reduce that stress by reviewing your insurance policies early, asking your agent for advice, and comparing your options before you move. Whether you’re updating auto insurance to meet a new state’s minimum coverage, selecting the best renters or homeowners policy for your next duty location, or making sure you’re covered during the move, a little preparation goes a long way.

With the right coverage in place, you can start your life at your next assignment confident that your family, your home, and your car are protected.

The post What Happens to Your Insurance When You Move States? appeared first on The Military Wallet.