Military Members, Families: Check Out These Insurance Tips

North Carolina prides itself on being among the most military-friendly states in the nation. The state has several large active-duty bases and provides significant support for military and veteran communities.

Active-duty military members and their families will find themselves making decisions about insurance, meeting liability requirements and protecting their families. Military members and their families should ask their insurance agent specific questions about how the company handles issues regarding deployment before purchasing an insurance policy.

Insurance companies' practices vary, so shopping around can pay off. Make sure you make apples-to-apples comparisons, including compare prices and the level of service, from multiple insurance providers.

If you get deployed, check your policy renewal date and payment terms with your agent before you leave. Make sure your coverage will remain in effect during deployment. If the renewal date occurs while you're deployed, arrange to make sure your premium gets paid on time.

Many homeowners' insurance policies have a "vacancy clause" that may be triggered if you are deployed for a long time and your family moves to a new location. Such policies may not pay claims if your house is vacant for 60 days or more. However, some companies offer an endorsement that specifically allows coverage for your house to continue even if it's vacant for an extended period.

If you're just joining the military, review your homeowners' policy with your agent before you leave for military duty. Doing so could help you avoid a dispute in the future. Also, make sure your policy limits are sufficient to cover your home and personal property at replacement costs.

Always let your insurance company know when you have moved out of the house.

Homeowners' and renters' insurance policies typically cover personal property that you take with you while traveling. However, most policies exclude damage caused directly or indirectly by acts of war. Talk to your agent about whether personal items that you take with you during your deployment will be covered if they are lost, damaged or stolen.

For automobile insurance, if you are deployed for a long time and no one will be driving your vehicle, you may be able to turn in your tags while you're deployed to remove the liability from your vehicle. Insurance companies call this "vehicle storage."

North Carolina law requires liability insurance to remain in effect if the vehicle is registered and has tags.

Military members on deployment may also consider suspending their collision and comprehensive (also called "other than collision") coverage. However, if you have a loan on your car, the bank or finance company will likely require such coverage. I don't encourage you to suspend your comprehensive coverage. If you do so, you run the risk of not having damages covered if your car is damaged by weather, an earthquake, vandalism, fire or if it is stolen.

I'm grateful to our military members and their families who have dedicated their lives to protect our homeland and ensure our freedom. The Department of Insurance stands ready to assist you with any insurance issues or questions.

You may speak to a consumer specialist weekdays from 8 a.m. to 5 p.m. by calling 855-408-1212. You may also visit our website at www.ncdoi.gov.

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