How to Pay for Car Insurance if You are a Single Mom

The majority of single parents are single moms who account for over 80% of single parents. The gap in income between single mothers and married mothers is significant, where single mothers have roughly half the income of married mothers. You would think that car insurance would be less expensive for a single parent or at least in the same range as it is for a married couple, yet, it is often more expensive. 

This article will help you find out how to get the best car insurance deals if you’re a single mom.

Get the Right Policy

You need a full understanding of the policy and choose one with the right coverage. Most places will require that you have the minimum requirements, but if you have young kids and driving them all around, you would probably need more coverage, but that doesn’t mean it’s unaffordable.

Damage and bodily injury liability, comprehensive, (car damage not due to a collision), and collision coverage should be your concern. On the other hand, if you are eligible for premium incentives, you will pay less for car insurance. Premium coverage includes such things as mechanical breakdowns or roadside assistance. These are very helpful for single moms, but they do come at a price. 

Other things, like glass coverage, might not be needed, especially since most providers only cover the windshield. So, if you already have a policy, read it thoroughly because there might be extras that you don’t need that are just costing you more money. 

Compare Quotes

Some people think it’s just easier and cheaper not to have insurance, to begin with, but they couldn’t be more wrong. If you ever get involved in a car accident, you could get sued if you are at fault. If you’re not insured, you could be up to your neck in liability. In countries like Canada, it is against the law to get behind the wheel of a car and not have it insured, and if caught more than once, you could find yourself slapped with a jail sentence. So, don’t assume no insurance is the way to go about it. 

Shopping around for the different insurance providers will pay off. When you compare car insurance quotes, you could save a significant amount of money. You could find good deals from providers or a cheaper offer from another provider than your current one. The team at MyChoice.ca shows you the way to go about getting the best deals that suit your budget when comparing insurance providers. Ask particular questions when searching for a provider, such as, what factors impact your insurance? Does the policy cover other drivers of your car? For instance, it is cheaper to have your teen on your insurance policy rather than one of their own. Many insurance agencies may also provide lower rates for students who achieve good grades in school or who take a driver’s education course.

Discounts

While doing your homework in choosing an affordable provider, find out about the types of discounts you could be eligible for.

Whether you are a member of an interest group, union, or other organizations, you can save money through collective discounts. Some premiums may also be reduced based on mileage.  

In conjunction, save money by driving a smaller car. Cruising around in a huge SUV is more costly in everything, including insurance. You and your kids will still be safe on the road in a smaller car. It would also be an eco-friendlier choice. 

Pay a Lump Sum

It’s a good idea to pay a lump sum annually rather than paying a premium every month. In the long run, this will cost you less. You also have the option to pay every six months if paying an annual lump sum is too much. For some mothers, they might find a pay-per-mile coverage suitable where billing is based on mileage. 

Paying monthly premiums is typically more convenient, but paying yearly is always cheaper, and most companies might provide you a discount if you pay in full. It’s a matter of finding the right payment plan that suits you. Car insurance rates will also depend on the vehicle, location, credit, and other factors.

Be a Good Driver

Lastly, you want to be extra careful when driving, especially if you have children or others in the car with you. You could qualify for discounts that are based on good driving. Being in an accident usually shoots up your premium.

 

Being a single mom is challenging enough without having to worry about car insurance payments. That’s why you want to insure in your car what can cause you a dire financial problem without insurance. When you look around, you will find affordable deals to sign up for. A good deal gives you the coverage you need and eliminates coverage you might not need and protects you from financial losses.


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Team Parle

The collective team of Parlé Magazine. Twitter: @parlemag

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