Of late there has been much discussion regarding the financial condition of the single mummies especially about their living conditions. The single mothers often have to go through the emotions trauma and financial hiccups simultaneously. In fact, according to research, the financial condition of a single mother is worse than the majority of the population in the country. Saving money through different avenues is an important task for the single mothers. An effective way to do is through saving in their car insurance. This does not mean that you will save on the insurance premium resulting in less coverage through the policy.
Save on premiums
There are few points that you need to keep in mind that will help you to save money without compromising on the amount covered by the policy. Often the single mummies opt to but the used cars to reduce the overall expenses. This is because the value of the car depreciates quickly and often people buy used car to lower their expenses. Irrespective of the car that you buy, you need to remember that you have to shell out money for the same. The auto premiums that you will pay depend on different characteristics of the car.
Risk is low
When you buy a used car the premiums that you pay against the insurance amount is low. This means that you can even save some money through the premium amount. Another benefit of the used car is that if the car is damaged or stolen, then the expenses that you need to incur for the same is low than that of a new car. Thus, the insurer also faces the less risk when dealing with a used car. However, it is important to remember that the liability rate is not affected by the age of the car, so its proportion in the insurance policy remains to be same all through.
Emphasize on safety
Safety is an important issue while dealing with auto insurance. To keep the insurance low of your used car, you need to conduct some amount of research regarding the car.The insurance companies often track the safety factors of the model of the car that you have purchased. There are also instances of discounts being offered on the used cars that are safe and have a good track history.So, if you are still confused regarding the choice of a car then consider the safer one or the one that is equipped with safety measures.
Decide on the deductible
Deductible is another factor that you need to consider while availing car insurance. Low deductible lead to more insurance, so make sure that the deductible on your insurance premium is within a range. According to the financial advisors, it is advisable to keep the deductible low on the new cars but, more on the used cars. This is because the used cars have already incurred some amount of cosmetic damages and it is the discretion of the single mothers whether they want to evade it or pay for the repair work.
Have the detailed information
Prior to buying a car, make sure that you have the detailed information regarding it. Make sure that there are no dues or any other pending payment against the car. While availing the car insurance compare the rates that are offered by the other auto insurance companies. As per the rule of the thumb, you need to consider the quotes of at least three providers. You can also opt for the online option for the same. The federal government department of insurance can be of great help to the single mothers as they give detailed information regarding the rate that should be levied on each transaction.
Author Bio: Kelly Moore is a single mother and she was worried about her financial condition. She went through visiting http://cheapautoinsurance.net/ for affordable automobile insurance cover and to know the ways to save money on car insurance. Also planning for ladies to have a new insurance benefits.