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Insurance Discounts and Benefits for Veterans

By November 12, 2007

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Veterans make up a large percentage of small business owners according the Small Business Administration and the 2002 census that reported nearly 14% of all veterans (3.3 million people) own a business. One of the little known benefits of being a veteran is that many franchise opportunities are offered to veterans at a deep discount. For example, Domino's is reported to offer a $20,000 discount off of its franchise fee for veterans. This makes these opportunities particularly appealing to veterans and the discipline and courage of veterans makes them particularly good candidates for business franchises. The Small Business Administration has an Office of Veteran's Business Development that assists veterans in the operation and management of their businesses and it is an excellent resource.

Veterans can also save on insurance premiums. Many business owners who are veterans simply never ask their insurance professional or insurer if such a discount is available. But, insurers have offered discounts on premiums as high as 20% for personal auto and life insurance products for years. GEICO, for example, has a page on their website specifically detailing the programs that it has available. Veterans have also benefited from reduced health insurance rates under some health insurance plans. Lowering your insurance premium can often involve a step as simple as asking your insurer if there is a premium discount for veterans. In the alternative, some organizations discount membership dues for veterans and, by becoming a member, the veteran business owner can receive discounted insurance premiums.

Your service and commitment make you a better business owner and less of a risk - ask for a better premium.

September 8, 2008 at 9:07 pm
(1) LocalVeteranDiscounts says:

Great information. Thanks for informing Veterans!


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