Forces Discount - Armed Forces News, Features and Press Releases

	Latest Updates:

Forces Discount - Armed Forces News, Features and Press ReleasesForces Discount - Armed Forces News, Features and Press Releases

Car insurance for armed forces personnel and their families

Members of the Armed Forces, whether HM Forces or MoD personnel, will be used to living life in anything but a `normal` fashion. They have unique requirements and as such deserve financial products that reflect these needs. Thankfully it is now possible to find car insurance that suitably addresses these circumstances.

Car insurance in the UK is a legal necessity and there are three levels of cover available - third party only cover, which covers injured third parties and damage to their vehicles; third party fire and theft cover with the addition of protection for your own car against fire damage and theft; and comprehensive cover with an array of options dependent on the provider you choose, some ideal for members of the Armed Forces.

What should Armed Forces personnel look for from a policy?

If you choose a comprehensive car insurance policy there are a number of options to consider that are available from several providers:

Business use
Will your car insurance cover you if you use your own car for business purposes - such as to transport colleagues from one base to another? Check the terms and conditions of use. If you don`t use the car for business purposes exclude this option from your policy and it will increase the cost of your premium.

Named drivers
If you spend a lot of time abroad and leave your vehicle at home, you may want your husband/wife to use the car in your absence.

Foreign travel
You may need to take your car away with you so look for the standard of cover available for travelling in the EU and the length of time you`re covered for - typically 30 or 60 days.

Laid-up cover
To cover your vehicle if you`re away on an operational tour. Also look for discounts for parking your car in a garage or secure area while you`re away.

Limited mileage discounts
Many personnel only use their vehicles for limited periods, such as during the weekends. In this case, consider a mileage limit which could slash your premiums.

Personal injury cover
Given the physical nature of being in the forces, serious injuries could affect your ability to work so look for a policy that covers personal injury and medical expenses.

Exclusive rates
Several providers offer exclusive rates for Armed Forces personnel and their families that might be worth capitalising on. However, if price is your number one concern you should still compare policies online to find the best deal rather than relying on these discounts.

Why comparing policies is so important

Only asking one provider for a quote, even if that provider claims to offer added value for Armed Forces personnel, could be a costly mistake as the gulf between premiums can be substantial.

Insurers measure risk in different ways by analysing your circumstances, the vehicle you drive, where you live, your claims and convictions history and how you use the car. As such there can be sizeable differences in both the level of cover available from provider to provider and the premiums they charge. For example, a 30-year-old soldier with a 2004 Volkswagen Golf, five years no-claims and a £500 excess could pick up an annual premium for as little as £279.39 through Swiftcover but would pay £838.72 with igo4value.

The key therefore is to compare policies with a comparison website which can highlight deals from as many as 90 different providers with one search. Just remember to look beyond price alone and make sure the car insurance policy you choose provides the options appropriate for you, as a member of the Armed Forces, and your family.

[Please note that the deals quoted were available at the time of writing, 11.02.09, and are subject to change]

Latest Updates: