Military home insurance: 3 reasons why cheaper isn’t always better

“While of course we all need to watch our budgets, it’s critical to also remember that you get what you pay for. And a bargain’s not a bargain if it lets you down when misfortune strikes.”

Military home insurance: You get what you pay for 

If you’re a United States service member or veteran, military home insurance is an essential coverage for you and your family. It provides peace of mind and financial protection against damages and losses to your home, belongings and personal liability.

So, while of course we all need to watch our budgets, it’s critical to also remember that you get what you pay for. And a bargain’s not a bargain if it lets you down when misfortune strikes.

While cost is a significant factor when choosing a home insurance policy, choosing a cheaper policy might not always be the best option. Let’s take a look at why cheaper is not always better when it comes to military home insurance.

Lower premium = lower coverage 

One of the main reasons cheaper is not better for military home insurance is that it often comes with limited coverage. Cheaper policies enforce lower limits for certain coverage types, meaning that if a significant loss occurs, you might not be fully covered. For example, a cheaper policy might set a lower limit for your personal property coverage. So if you lose valuable items in a fire, you might not be fully compensated for your loss.

“A bargain policy pushed on you with smoke and mirrors by someone who’ll take their commission and never talk to you again is likely no bargain. Remember, trust equates to value.”

Another reason cheaper is not better for military home insurance is that it might not provide adequate protection against common hazards that military families face. For instance, many military families live in areas that are prone to natural disasters like hurricanes, earthquakes and floods. Cheaper policies might not provide enough coverage or might not cover these perils at all. As a result, in the event of damage or loss to your home, you might not be able to rebuild your home or replace your belongings.

Cheap military home insurance = customer service compromise

It's also important to consider the quality of customer service when choosing military home insurance. Cheaper policies might not provide the level of service that you need in the event of a loss.

For example, you might have trouble reaching your insurance company in the event of a claim or might not receive a prompt response to your claim. Additionally, some insurance companies might not have a strong reputation for paying out claims fairly, leaving policyholders like you with less money to rebuild their homes and replace their belongings.

Also, military families often have unique needs when it comes to home insurance. For instance, they might need coverage for deployment-related losses or for off-base housing. Cheaper policies might not provide adequate coverage for these specific needs, leaving your family vulnerable in the event of a loss.

A cheaper policy might not cover rebuilding

Finally, it's important to remember that cheaper military home insurance policies might not provide adequate financial protection in the event of a loss. A cheaper policy might not provide enough coverage to fully rebuild your home, leaving you with a significant financial burden. Additionally, some policies might have exclusions or limitations that make it difficult to receive compensation for a loss.

Putting it all together

It bears repeating that military home insurance is an essential coverage for service members, veterans and their families. But choosing a cheaper policy might not always be the best option. You should carefully consider your family’s coverage needs, the quality of customer service and your financial protection before choosing a policy. And you should look for a policy that provides adequate coverage for your specific needs and that offers effective financial protection in the event of a loss. By choosing the right military home insurance policy, you and your family can have peace of mind and financial protection for your home, belongings and personal liability.

Tips for choosing the right military home insurance policy:

• Consider your coverage needs, the quality of customer service and your financial protection.
• Look for a policy that provides adequate coverage for your specific needs.
• Choose a policy that offers financial protection in the event of a loss.
• Choose a carrier you trust. 

Armed Forces Insurance: your trusted military home insurance advisor

Armed Forces Insurance has been a trusted advisor to American armed forces service members for more than 135 years. We’re not a giant corporate skyscraper full of slick insurance executives. We’re a small company headquartered just down the road from Fort Leavenworth in Kansas. We know each other, and our customers know us. If you’re looking for a someone you can trust to shoot you straight and help you protect your home and property, check out our homeowner insurance page.

Learn more about home insurance:

A Consumer’s Guide to Home Insurance (National Association of Insurance Commissioners)

Homeowners Insurance Basics (Insurance Information Institute)