The Importance of Military Insurance Discount Programs in Alberta
If you work for the Department of National Defence in Alberta, your job is an important part of Canadian security. In fact, your work is so important that some insurers are willing to give you a special break on insurance coverage and the savings can be significant. However, it's important to go with the right insurance provider to be sure you get all the benefits of the military insurance discounts. Here is an example.
Jim R, a member of the Canadian Armed Forces, worked as an IT technician working on an important aircraft simulator at a nearby military base. The hours were sometimes difficult as he worked the night shift, but the pay was good and Jim was very good at what he did.
One day Jim and his wife Sandra were going over the household budget, trying to find ways to cut costs. Jim suggested raising their auto insurance deductibles and dropping some of their coverage options. However, Sandra didn't want to limit their coverage or raise their deductible, because it might cause a financial hardship in the future. Instead, Sandra told Jim about a program that provided insurance discounts to people working for the Department of National Defence (DND). She had heard about it from one of her friends who also worked for the DND, and this person used a local insurance broker.
Jim decided to contact the insurance broker about this special military insurance program, and he was surprised to learn just how much money he could save. Had Jim not found out about this valuable discount, he would have been forced to cut insurance coverage (like auto collision insurance) and that could have ended up in disaster. For example, just one year later, Sandra was involved in an auto accident and their collision insurance paid to replace their car. Had they dropped this valuable coverage, their car (worth about $6,000) would have been a complete loss.
What are Military Insurance Discount Programs?
Some Canadian insurers offer special packages and lower rates to members of the National Defence. However, many of these programs and added benefits are not known by the general public. As a result, many qualified people are paying too much for their insurance coverage.
Who Qualifies for These Special Discounts?
Anyone working in the DND qualifies. This includes members of the military and people working in a capacity for the military. Also, you do not have to be currently active in the military or working for the DND. You can be retired and still qualify for insurance discounts.
What Military Insurance Program Discounts are Available?
If you insure your home and auto with the same insurer, you may qualify for special discounts on the premiums. In addition, the following coverage items are available:
- Deductible waiver on collision insurance - suppose you have uninsured motorists coverage. If an uninsured driver hits your car and damages it, your collision coverage pays, minus the deductible. A deductible waiver allows you to have your car fixed without paying a deductible and this saves you money on repair bills.
- Recreational vehicle insurance - you may be able to receive much lower premiums on your RV insurance, and if you own a large motor home, this can mean big savings.
- Increased basic limits - in some cases, you can increase your basic coverage options without additional costs to you.
- Extra coverage when you rent a vehicle - you will enjoy more coverage for your money on rental vehicles.
Are There Additional Benefits to the Military Insurance Discount?
Besides standard discounts, other options are available. For example:
- Identity theft protection - when you insure both personal property and your vehicle with the same company, you may qualify for identity theft protection.
- Waiver of depreciation - while your car is less than 30 months old you could lose a lot of money if it were totalled in an accident (due to depreciation). Your special discount program waives this depreciation factor, and pays to replace your vehicle.
- Other discounts - you may qualify for other benefits with as much as a fifty percent discount.
Where Can I Receive the Best Military Discounts on My Insurance in Alberta?
Once you come to Bridge Financial Insurance you have the benefits of an independent insurance brokerage. We find you the best deals on insurance by searching the many companies we do business with. This includes some exceptional discounts on insurance for those working in the military and DND.
When you do business with us, we take care of all the shopping for insurance, comparing companies, and examining premiums. We get you the best deals on your insurance and help you save a significant amount of money in the process. We will help you choose the right military insurance program for your needs.
Are you active or retired from the military? Do you work at a National Defence Base in Cold Lake, Edmonton, Wainwright and Suffield? To find out more about these great discounts on insurance, click this link for a Military Insurance Discount Programs quote now. You also may call us toll free at 1-844-669-7284 or locally at 780-669-7284 for additional information.