Everyone has a budget these days, and this is especially true for single-parent households. It’s hard enough to make ends meet, especially when it comes to vehicle maintenance. But, you have to carry car insurance, so why shouldn’t you do so affordably? Consider a few of the ways you might be able to save on your rates and help your family at the same time.

Factors Influencing Car Insurance Rates

When you buy a car, you have to pay for it. But that means more than just making the monthly payment. You’ll also have to buy car insurance, which is required by Missouri law. If you don’t, you could face penalties. So, this is a cost you have to factor into your budget.

Insurers determine what they will charge you for your coverage based on numerous risk factors. Since insurance policies are supposed to pay for your car in the event damage or wrecks occur, the insurer wants to know how likely such a problem is to arise. Therefore, if you have a high likelihood of filing against your policy, you might have to pay more for your coverage.

Some of the factors that might influence how much you pay for your policy include:

• The value and age of your car

• Your history of accidents or tickets on your driving record

• Your location, and whether it’s a place where a lot of claims occur

• The number of drivers or cars in your household

Importantly, the amounts and types of coverage you choose to buy could influence your rates. The more coverage you buy, the more you are likely to pay.

Some drivers feel that it’s best to buy the minimum coverage required by the state to minimize costs. However, by buying only the minimum coverage, you might not set yourself up for long-term success. Sure, the minimum coverage is fine in cases where you don’t have to file a claim. However, when you do have to file a claim, the policy might not compensate you for the full cost of your losses. Therefore, most drivers can benefit by increasing their coverage.

However, if cost is something that worries you, then you can still tap into numerous savings incentives in your policy.

Tips For Saving On Your Policy

When you buy your car insurance, don’t tell your agent that you want the cheapest policy available. Instead, ask them to help you compare different policy options to find the one that offers the best balance of coverage and cost. In many cases, they can help you qualify for savings.

• Ask your agent what discounts are available on the policy. For instance, you might be able to save money if you agree to enroll in automatic payments. You might also be able to qualify for a discount if you can avoid tickets or accidents for a certain number of years.

• Your policy will contain a deductible, which your insurer will subtract from a claim estimate to determine how much to pay out in reimbursements. If you increase your deductible, you agree to pay more for a claim, and your insurer won’t have to pay as much. Therefore, they might offer you a lower rate.

Your Mr Auto Insurance agent will be able to tap into the policy choices of numerous insurance carriers. They’ll even be able to look at different policies that contain the same general limits. That can help you save — simply because some insurers are cheaper than others. Don’t hesitate to contact your agent to learn more about your options.