Navy Federal Car Insurance: Cost, Coverage & More

Navy Federal Car Insurance
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When looking for auto insurance, it is in your best interest to seek quotes from several different companies. What’s best for your neighbor may not be best for you because your insurance rate depends on a number of criteria outside the insurance provider you choose, such as your age, the make and model of your car, and your driving record. In this article, we will discuss Navy federal car insurance coverage, requirements, costs, and the difference between USAA and Navy federal car insurance.

What Is Navy Federal Car Insurance?

Navy Federal Car Insurance refers to the auto coverage services provided by Navy Federal Credit Union, a financial institution primarily serving members of the U.S. military, veterans, and their families. Navy Federal offers a range of car insurance options tailored to meet the specific needs of its members. These insurance policies typically cover various aspects, including liability protection in case of accidents, coverage for property damage, medical expenses, and uninsured or underinsured motorist coverage. Members can choose from different coverage levels and add-ons, allowing them to customize their policies based on their requirements. 

Also, Navy Federal aims to provide competitive rates and excellent customer service to its members, ensuring that they have access to reliable car insurance options. By offering these services, Navy Federal supports its members in safeguarding their vehicles and ensuring financial protection in case of unexpected events on the road.

Insurance Options With Navy Federal

Car insurance from Navy Federal is provided by Geico and includes all the usual coverage plus some extras.

#1. Liability Coverage (BI/PD)

Your liability insurance will pay for any harm or property damage you may cause in an accident. You’ll see that the description of this protection goes like this: 25/50/15. Damages to property are capped at $15,000, while medical expenses are capped at $25,000 per person and $50,000 per accident.

#2. Uninsured/Underinsured Motorist Coverage (UM/UIM)

This type of protection is strongly suggested, even if it is not mandated. Suppose you are involved in a collision with a driver who has very limited or no insurance coverage and ends up being at fault. When their insurance is inadequate or nonexistent, you might still obtain protection.

#3. Comprehensive Coverage

Vehicles are not usually involved in accidents. Weather-related mishaps, animal attacks, vandalism, and theft are all covered by comprehensive auto insurance. There are bounds and boundaries that your plan will outline for you.

#4. Collision Coverage

If you cause an accident involving an automobile or another stationary item, this sort of insurance will protect you financially. After meeting the deductible, insurance typically contributes to the cost of repairing one’s own vehicle. If the other motorist was at fault in the accident, Geico is also a viable option. Geico plans to submit a claim to the at-fault driver’s insurance company for reimbursement.

#5. Medical Payments (MedPay)

Even if you currently have excellent health insurance, adding MedPay to your auto insurance policy is a wise decision. In the case of an accident, several plans provide coverage of up to $10,000 in medical expenses with no out-of-pocket maximum.

#6. Personal Injury Protection (PIP)

Personal injury protection is obligatory in no-fault states. Medical expenses aren’t the only thing PIP might pay for; they might also cover things like missed earnings, housekeeping, and even funeral expenses. No matter who caused the mishap, you are covered.

In addition, find out how much and what kind of insurance coverage is necessary to legally operate a car in your state before committing to a policy. You should have more insurance than is necessary in order to financially protect yourself in the event of an accident.

Additional Coverage

The six types of auto insurance described above are standard fares, but the extras that insurers provide are what truly set them apart. Additional Geico car insurance is available from Navy Federal.

#1. Emergency Road Service

Customers, including those with the Navy Federal auto insurance option, can get a year of emergency roadside service from Geico for as little as $14. The Geico smartphone app is always available for emergency help. The built-in GPS tracker makes it easier for rescue workers to find you quickly. Battery jump starts, flat tyre fixes, and lockout assistance up to $100 are all commonly included in this package.

#2. Rental Reimbursement

When your own car needs repairs after filing a covered claim, this coverage is useful for covering the cost of a rental automobile. If your car has been written off, you may be eligible to rent a replacement vehicle for a limited time. There is typically a cap on how much can be claimed for rental reimbursement at once or per day, such as $25 per day up to $750. In addition, Geico collaborates with Enterprise to provide rental cars. Enterprise will send Geico a bill for your rental car, eliminating the need for a down payment.

#3. Mechanical Breakdown Insurance

If you don’t want to pay for an extended warranty on your new automobile, Geico insurance is a good option. For a $250 deductible, mechanical breakdown insurance protects you from mechanical failures that aren’t the result of a lack of maintenance or normal wear and tear.

Navy Federal Car Insurance Requirements

Navy Federal Car Insurance requirements typically vary based on the specific coverage options and state regulations. However, there are some common requirements for members seeking car insurance through the Navy Federal Credit Union. Firstly, individuals must be a member of the Navy Federal to be eligible for their car insurance services. Membership is generally available to active-duty or retired members of the military, veterans, and their families.

Regarding vehicle-related requirements, members need to provide details about the vehicles they want to insure, including the make, model, year, and Vehicle Identification Number (VIN). Additionally, members usually have to fulfil the state’s minimum liability insurance requirements, which vary from state to state. These requirements often include liability coverage for bodily injury and property damage. Navy Federal may offer additional coverage options, such as comprehensive, collision, and uninsured/underinsured motorist coverage, allowing members to tailor their policies according to their needs.

Moreover, members might be required to provide information about their driving history, including past accidents or violations, which could influence the insurance premium. It’s essential for members to accurately disclose this information to ensure they receive the appropriate coverage. Navy Federal’s insurance representatives can guide members through the specific requirements and help them choose the right policy for their individual circumstances.

Does Navy Federal Have Car Insurance?

Although Navy Federal does not provide car insurance directly, they have partnered with TruStage Insurance LLC and Geico to provide a discount on Liberty Mutual car insurance to their members. When you’re a member of a credit union like Navy Federal, you may take advantage of TruStage Insurance LLC’s partnership with other credit unions to get a discount on the cost of your insurance. Savings on car insurance with Navy Federal can be determined by using their online quote system, as discounts on coverage differ by state.

Keep in mind that Navy Federal’s promotions are subject to change. If Navy Federal decides to transfer its discount insurance provider, then drivers who have already purchased insurance through Navy Federal may need to shop around for a new provider.

Navy Federal Car Insurance Cost

How much money can you save if you switch to Navy Federal for your car insurance? Your driving record will play a role in this, as it does with the majority of insurance policies. Premium rate estimates for a 35-year-old with excellent credit and a clean driving record ranged from $1,000 to $3,000, according to our examination of data from Quadrant Information Services.

However, Geico, and by extension, Navy Federal, is more forthcoming about their methods than many competitors. In order to calculate your cost and deductible, the Navy federal car insurance company’s actuaries will look at a large amount of information gleaned from your individual characteristics and driving record. Some of these elements are:

  • Your location
  • Your driving record
  • Vehicle’s safety features
  • Factors that change over time, such as discounts for loyalty and having a good driving record

Driver Discounts

There are many available discounts at Navy Federal. The vast majority of your customers will fall into one of the following groups, each of which will save you money:

  • Vehicle Equipment: Cars with safety features like airbags, anti-lock brakes, anti-theft systems, and daytime running lights, as well as “new vehicle” status, typically have lower insurance prices.
  • Driver History and Habits: Get discounts of 15% to 25% on various parts of your policy just by meeting certain criteria, like lasting five years without having an accident or showing proof that you always use your seatbelt.
  • Education: Take a defensive driving course, a driver’s education course, or simply maintain a high-grade point average to qualify for one of several discounts.
  • Affiliation: Affiliate discounts are available from both Geico and Navy Federal Car Insurance. Discounts are also available for federal employees and those called into active duty.
  • Multi-Plan: Spend less on insurance by bundling your policies together. Also, read 11 BEST WAYS TO LOWER YOUR CAR INSURANCE COSTS.

Does Being in the Military Lower Car Insurance?

Yes, being in the military can often lead to lower car insurance premiums for several reasons. Insurance providers frequently offer discounts to military personnel as a token of appreciation for their service. These discounts can vary, but they generally result in reduced insurance costs.

One reason for this is the assumption that military personnel are more disciplined and responsible, which statistically results in fewer accidents and claims. Insurance companies view this as a lower risk, leading to lower premiums. Additionally, military members often receive deployments or have overseas postings, meaning their cars are not consistently in use. Less time on the road can translate to lower premiums as well.

Furthermore, some states have specific regulations that require insurance companies to offer discounts to military personnel. For example, the Servicemembers Civil Relief Act (SCRA) in the United States provides certain protections to military members, including potential reductions in interest rates and insurance premiums.

It’s important for military personnel to inform their insurance provider about their military status to take advantage of these discounts and ensure they receive the most affordable coverage available. Different insurance companies offer varying discounts, so it’s advisable to shop around and compare quotes to find the best deal.

Does My Navy Federal Credit Card Cover Rental Car Insurance?

Navy Federal Credit Cards often offer rental car insurance as a benefit, but the coverage can vary depending on the specific card you have. Some Navy Federal Credit Cards provide secondary rental car insurance, which means it covers costs not covered by your primary coverage policy. This coverage typically includes damage to the rental car and theft, but it’s essential to check your card’s terms and conditions for the exact details of the coverage.

Before relying solely on your credit card’s insurance, it’s crucial to contact Navy Federal or check your card’s benefits guide to understand the extent of the coverage, any limitations, and the steps you need to follow to activate the insurance. In some cases, you may need to decline the rental agency’s insurance coverage and pay for the rental with your Navy Federal Credit Card to be eligible for the insurance benefits. Always clarify these details to ensure you have adequate coverage when renting a car.

What Are the Benefits of Having Navy Federal

Having a Navy Federal Credit Union membership offers several benefits, especially for military personnel, veterans, and their families. Some of the key advantages include:

  • Low Fees and Competitive Rates: Navy Federal often provides lower fees and competitive interest rates on loans and credit cards compared to many other financial institutions.
  • Specialized Services: They offer specialized services tailored to the unique needs of military members, such as military pay processing, deployment assistance, and financial counseling.
  • Wide Range of Financial Products: Navy Federal offers a variety of financial products, including savings accounts, checking accounts, certificates of deposit, mortgages, auto loans, and personal loans.
  • Credit Cards and Rewards: They provide credit cards with competitive rewards programs, cash back, and other benefits.
  • Insurance Services: Navy Federal offers insurance products, including car insurance, life insurance, and home insurance, often with discounts for members.
  • Branches and ATMs: With a large network of branches and ATMs, members have convenient access to their accounts and services.
  • Educational Resources: They offer financial education resources, seminars, and webinars to help members make informed financial decisions.
  • Member-Owned: As a credit union, Navy Federal is member-owned, meaning profits are returned to members in the form of lower fees, better interest rates, and improved services.
  • Community Support: Navy Federal is actively involved in supporting military and local communities through various charitable initiatives.

Navy Federal Credit Union is appealing to military families and individuals seeking reliable, member-focused financial services due to these perks.

What Is Navy Federal Insured By?

The National Credit Union Administration (NCUA) insures accounts held by the Navy Federal Credit Union, including savings, checking, and certificates of deposit. NCUA is an independent agency of the United States federal government that regulates and insures credit unions. The insurance that NCUA offers is comparable to the deposit insurance that the Federal Deposit Insurance Corporation (FDIC) provides for banks. It implies that, up to a certain extent, the full faith and credit of the United States government backs your deposits at Navy Federal Credit Union, providing some level of security for your money.

Does Navy Federal Partner With Geico?

Yes, although it could change in the near future. Over the years, Navy Federal has developed relationships with a number of insurance providers.

1. MetLife: In 2013, Navy Federal and MetLife launched a partnership to provide consumers with affordable home and vehicle insurance. The MetLife collaboration was marked as inactive in 2022.

2. GEICO: Since 2011, Navy Federal has worked with GEICO to provide members of the military with special rates on auto, house, and motorcycle insurance. By teaming up with Navy Federal, GEICO was able to offer an even deeper discount to active duty and veteran military personnel. It appears that the GEICO discount is still in effect; however, this may change now that savings are available through a different provider.

3. Liberty Mutual: In their most recent collaboration, Navy Federal and TruStage Insurance have made Liberty Mutual’s auto and home insurance more affordable for Navy Federal customers. Discounts are available via Navy Federal for many different kinds of auto insurance, including liability, comprehensive, collision, and gap.

What Are the Cons of Gap Insurance?

Gap insurance can be beneficial, but it also has its drawbacks. One major drawback is the cost. Gap insurance can add to your overall loan or lease payment, increasing your monthly expenses. Additionally, it might not cover your entire outstanding loan balance in certain situations, especially if you have added other costs, like extended warranties, to your loan. Another downside is that gap insurance is typically not necessary if you make a substantial down payment on your vehicle, as the gap between the car’s value and the loan amount is smaller. 

Furthermore, gap insurance might not cover certain factors, like overdue payments or late fees, and each policy’s terms and conditions can vary, leading to potential confusion about what is covered. Before choosing gap insurance, examine the policy information and assess your needs.

Navy Federal Car Insurance vs USAA

Navy Federal Credit Union and USAA are two examples of financial institutions that cater only to active duty service members, veterans, and their families. USAA provides a greater variety of financial products and services, including auto insurance and investment accounts. Navy Federal’s only business is banking. 

The savings account interest rates for both of these financial institutions are low. When compared to USAA, Navy Federal’s share certificate interest rates are significantly more competitive. In addition, a money market account is available at Navy Federal but not at USAA. Navy Federal could be a fantastic choice if this is what you’re looking for.

Both Navy Federal and USAA have excellent banking apps and websites for mobile and internet banking. While USAA does not have physical locations, there are around 100,000 ATMs available to its members. On the other hand, Navy Federal has over 30,000 fee-free ATMs and about 300 physical locations. That’s why Navy Federal Credit Union is the best option if having a physical location is your top priority.

Is Navy Federal Good for Car Insurance?: Bottom Line

Navy Federal Credit Union offers car insurance services primarily tailored to military members, veterans, and their families. The quality of their car insurance can vary based on individual needs and preferences. Navy Federal is known for understanding the unique circumstances of military life and often offering specialized coverage options that cater to the military community. Members might benefit from policies designed to accommodate deployments and relocations.

However, whether Navy Federal is good for car insurance ultimately depends on your specific requirements, your budget, and the level of customer service you expect. It’s essential to compare their offerings with those of other providers, considering factors such as coverage options, premiums, deductibles, and customer reviews. Additionally, evaluating their customer support and claim processing efficiency is crucial for a satisfying insurance experience. Finding out if Navy Federal’s auto insurance meets your needs and expectations can be done through research and personalized estimates.

Frequently Asked Questions

Is Navy Federal gap insurance worth it?

If you’re putting very little money down on a car or if you have a loan that will be in effect for five years or more, GAP insurance may be worth considering. Although policies vary and you may not have much control over the matter, GAP insurance is occasionally required by car leases.

What credit score do you need for a car loan from Navy Federal?

There is no required credit score to open an account with Navy Federal. However, in order to determine your eligibility for an auto loan, we will look at your credit report, among other things.

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