Being a single mom comes with several challenges, particularly if you’re new to the status. An avalanche of expenses and limited resources is a recipe for parenting disaster. But a great car insurance deal can significantly ease the financial worry.
Right now, there’s no tailored car insurance for single moms, but several options exist most likely to benefit one-parent families.
To access the best car insurance for single mothers, you need access to the best info. That’s why this piece brings you correct facts on insurance for single moms. Relevant facts make it a lot easier to max out discounts and get cheaper deals for more financial relief.
Auto Insurance Coverage Types for Single Parents
Bundling insurance
Getting your home and auto insurance from a single provider remains an outstanding course to save more money. Bundling your home and car packages could deliver discounts of over 30%. And several providers offer bundling packages for several hundred bucks less.
Since you’re a single mom with limited cash, bundling insurance plans could be the best way to go.
Uninsured or underinsured motorist coverage
Underinsured or uninsured motorist coverage keeps you protected if your vehicle gets involved in a crash with an uninsured driver.
If you need to file a claim, this coverage policy will keep you from paying out-of-pocket expenses.
Liability auto insurance
Minimum auto insurance is mandatory across US states. Liability insurance offers cover for property damage and bodily injury if an accident involves your vehicle. State limits differ when it comes to liability auto insurance.
On the flip side, it’s essential to buy the highest liability auto insurance coverage. With a high liability insurance cover, you can if you’re likely to request a huge claim later on.
Rental reimbursement cover
If your car is in bad shape at the moment and needs an urgent fix, rental reimbursement cover is essential. With this package, your policy provider will pay for expenses incurred through the period of using a rental car.
Roadside Assistance
Getting roadside assistance is essential for single parents, particularly if you use your vehicle for long trips. With roadside assistance, you can conveniently get help in challenging situations at a minimal cost.
Group insurance
Membership in a group or auto club also comes with several benefits for single mothers. Many occupation-based discounts only support drivers in a particular organization. And in other cases, some organizations have discounts tailored for their members.
So, check out your occupation and if any discounts are available from being in a group policy.
How Does Your Marital Status Affect Your Premiums?
Married couples get a special status when it comes to premium rates. Policy providers see married couples as less likely to get involved in an accident than single parents.
Car Insurance After Divorce Or Separated
Separations may be civil or damaging for couples. Regardless of how the break-up happens, there’s a lot to handle in your insurance policy.
Here’s a detailed look at what should happen to your insurance policy right after a marriage split;
Plan cancelation or member removal
Based on the vehicle you and your spouse agree to part with, there have to be tweaks to your insurance policy. In most cases, couples opt for a spouse to exit the family policy instead of an all-out cancelation.
On the flip side, some ex-couples may cancel the policy if current premiums are expensive or don’t meet their needs.
Switching plans
If an estranged couple opts for one ex-partner to leave the auto policy, the next step usually involves plan-switching. Single parents paying for comprehensive cover with all add-ons could be tasking. So, removing several extras less likely to put you at risk is essential.
Limit changes
If you’re driving your car less after a divorce, then changing your limits could be a thrifty choice. But couples intending to get more mileage and possess the financial means may require upping their limits.
Deductible raises
Single parents in a cash-strapped situation mostly opt for a deductible raise after a split. Although deductible raises could be risky, motorists with good road records get to pay fewer dollars in premiums.
Policies for other family members
If a divorced couple has kids of driving age, it becomes expedient for one parent to bear the cost. It will be unwise to register an expensive policy for your kid. Adding your child to your existing policy is affordable and saves more money in the long run.
