The words “low-priced” and “insurance” really shouldn’t be used together, specifically when you are trying to find the best car insurance for single moms. Because of the high cost, let’s learn about some of the factors that significantly impact auto insurance prices, and find some ways to reduce the cost of the next policy you buy.
Determining which company has the cheapest insurance rates for single moms calls for a little more work than just picking a company at random. Every car insurance company has their own formula to set their prices, so let’s look at the rankings for the most competitive insurance companies in Massachusetts.
It’s important that readers know that Boston insurance rates are based on many factors which can substantially decrease or increase the policy premium. Getting older, moving across town, or getting caught speeding can trigger price changes that can cause some rates to be cheaper in comparison to the competition.
Find the Cheapest Auto Insurance for Single Moms
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | State Farm | $719 |
| 2 | National Grange Mutual | $831 |
| 3 | GEICO | $868 |
| 4 | Commerce Group | $875 |
| 5 | OneBeacon | $885 |
| 6 | Progressive | $1,029 |
| 7 | Arbella | $1,030 |
| 8 | USAA | $1,044 |
| 9 | Norfolk and Dedham | $1,046 |
| 10 | Amica | $1,131 |
| 11 | Vermont Mutual | $1,297 |
| 12 | Travelers | $1,297 |
| 13 | Quincy Mutual | $1,320 |
| 14 | Hanover | $1,345 |
| 15 | Safety Group | $1,352 |
| 16 | Peerless | $1,399 |
| 17 | MetLife | $1,454 |
| 18 | Plymouth Rock | $1,588 |
| 19 | Allstate | $1,738 |
| 20 | Liberty Mutual | $1,789 |
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State Farm may offer some of the cheapest car insurance rates in Boston at around $719 per year. National Grange Mutual, GEICO, Commerce Group, and OneBeacon would also be considered some of the most economical Boston, MA auto insurance companies.
As illustrated above, if you currently have coverage with National Grange Mutual and switched to State Farm, you may see a yearly savings of in the neighborhood of $112. Drivers with GEICO might save as much as $149 a year, and Commerce Group insureds might lower prices by up to $156 a year.
Understand that those prices are averaged for all types of insureds and vehicles and do not take into consideration a specific vehicle garaging location for single moms. So the company that can offer you the best rate may not even be in the top 21 companies shown above. That points out the importance of why you need to compare as many prices as possible using your own specific driver and vehicle information.
One of the more important criteria that help determine the amount you pay for auto insurance is where you call home. Regions with larger populations or more claims will most likely have higher rates, whereas more rural areas have the luxury of lower rates.
The following table rates the most costly cities in Massachusetts for single moms to buy auto insurance in. Boston is ranked at #8 with an annual cost of $1,752 for the average insurance policy, which is about $146 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Revere | $2,192 |
| 2 | Brockton | $2,080 |
| 3 | Lynn | $1,979 |
| 4 | Malden | $1,936 |
| 5 | Springfield | $1,851 |
| 6 | Lawrence | $1,839 |
| 7 | New Bedford | $1,768 |
| 8 | Boston | $1,752 |
| 9 | Worcester | $1,746 |
| 10 | Fall River | $1,717 |
| 11 | Medford | $1,622 |
| 12 | Somerville | $1,599 |
| 13 | Lowell | $1,573 |
| 14 | Quincy | $1,549 |
| 15 | Cambridge | $1,491 |
| 16 | Haverhill | $1,468 |
| 17 | Weymouth | $1,461 |
| 18 | Chicopee | $1,455 |
| 19 | Framingham | $1,432 |
| 20 | Taunton | $1,412 |
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Table data uses estimated as the specific garaging location can alter premiums significantly.
The car, truck, or SUV driven is probably the largest consideration when trying to find the lowest-priced coverage for single moms. Vehicles with economical engines, good safety features, or low incidents of liability claims will cost significantly less to insure than fast, unsafe models.
The data below shows car insurance costs for some of the most budget-friendly automobiles to insure in Massachusetts.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra GLS Touring Station Wagon | $1,447 |
| Honda CR-V EX-L 4WD | $1,480 |
| Honda Odyssey LX | $1,589 |
| Toyota Prius | $1,602 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,621 |
| Honda Accord LX-P 4-Dr Sedan | $1,654 |
| Ford Edge SEL AWD | $1,679 |
| Ford Escape XLT 4WD | $1,692 |
| GMC Sierra SLE Crew Cab 2WD | $1,712 |
| Dodge Ram Quad Cab ST 2WD | $1,744 |
| Chevrolet Impala LTZ | $1,802 |
| Toyota Corolla XLE | $1,812 |
| Ford F-150 STX Super Cab 2WD | $1,823 |
| Chevrolet Silverado LT Crew Cab 4WD | $1,834 |
| Nissan Rogue S AWD | $1,843 |
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Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Massachusetts minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Price information does not factor in vehicle location which can raise or lower premiums greatly.
Based upon the table data, we can tell that cars like the Hyundai Elantra, Honda CR-V, Honda Odyssey, Toyota Prius, and Jeep Wrangler are most likely to be the more affordable vehicles to insure for single parents.
The illustration below illustrates how your choice of deductibles can impact insurance costs when quoting cheap insurance for single moms. The price estimates are based on a married male driver, full coverage, and no discounts are factored in.
A 50-year-old driver could reduce rates by $278 a year by increasing from a $100 deductible to a $500 deductible, or save $420 by switching to a $1,000 deductible. Young drivers, like the 20-year-old example, could reduce their rates as much as $928 annually by choosing larger deductibles on their policy. If you do make the decision to raise your deductibles, it will be necessary to have enough in a savings account to offset the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
Impact of violations and accidents on rates
The common sense way to earn the cheapest insurance prices in Massachusetts for single parents is to be an attentive driver and avoid getting tickets or having accidents. The diagram below demonstrates how speeding tickets and at-fault claims can drive up premium costs for different insured age categories. The prices are based on a single male driver, full coverage, $250 deductibles, and no policy discounts are applied.
In the previous chart, the average cost of an auto insurance policy in Boston per year with no accidents or violations is $2,387. Get two speeding tickets and the average cost jumps to $3,165, an increase of $778 each year. Then include one accident along with the two speeding tickets and the annual cost of insurance for single moms jumps again to an average of $3,949. That’s an increase of $1,562, or $130 per month, just for not being attentive to the road!
Full coverage versus liability only rates
Reducing premiums for insurance should be important to the majority of vehicle owners, and one of the best ways to reduce the cost of insurance for single moms is to not insure for full coverage. The example below shows the difference between insurance rates when comparing full coverage to liability only. The rate quotes are based on no driving violations, no at-fault accidents, $250 deductibles, single marital status, and no other discounts are factored in.
If averaged out across all ages, physical damage coverage costs an extra $1,941 per year over and above liability coverage. At some point, almost every driver questions if physical damage coverage is worth the money. There is no written rule that is best for determining when to drop physical damage insurance, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is 10% or more of the vehicle’s replacement cost less your deductible, then you might want to consider buying only liability coverage.
For example, let’s say your vehicle’s replacement value is $12,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $11,000 after paying your deductible. If you are paying more than $1,100 a year for full coverage, then you might want to consider buying only liability coverage.
There are a few cases where eliminating full coverage is not advised. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not buy liability only.
How to find cheaper car insurance for single moms
The list below shows some of the better thrifty suggestions that can help you find more affordable auto insurance.
- Accident-free drivers may qualify for discounts
- Do not get tickets or violations
- Avoid filing excessive claims
- Buy vehicles with five-star safety ratings
- Buying car and homeowners insurance together can save money
- Don’t waste money on full coverage for older vehicles
- Comparison shop at least every other year
The last item on the list is extremely necessary, as we stressed in the prior article. Prices charged by companies adjust often, so drivers shouldn’t be resistant to buy from a different company if a more affordable price is available. Many drivers have brand loyalty and that’s fine, but it’s not recommended if it’s costing you hundreds of dollars year after year. Spend a few minutes and compare rates to find cheaper auto insurance for single moms in Boston.