R.J. Lehmann on auto insurance for the military

WalletHub – ICLE Editor-in-Chief R.J. Lehmann was quoted by WalletHub in a piece about auto insurance discounts and challenges for members of the U.S. Armed Forces. You can read full story here.

The military community has always been attractive to auto insurers because, on balance and over time, they have proven to be good risks who drive carefully and are less likely to make claims than the public-at-large. That is why many insurers offer generous discounts to members of the military and their immediate families. At the same time, some challenges in the auto insurance market fall heavier on members of the Armed Forces. Because insurance is regulated at the state level, getting reassigned to a new base can mean having to change carriers and go through the underwriting process all over again. Those who are deployed overseas may let their auto insurance lapse. That can be a problem in states that allow insurers to consider ‘persistency’ — how long you have continuous coverage — as an underwriting factor. When selecting an auto insurance carrier, in addition to the premium and financial strength, it can be important to consider these other factors, like how many states the insurer writes coverage in and whether they offer the option to suspend, but not cancel, coverage while you are deployed.