Want lower car insurance rates for your Volvo C70? Did you fall for a flashy sales pitch and buy high-priced car insurance? Believe me when I say you’re not alone. Numerous car insurance companies battle for your business, so it’s not easy to compare every company to find the absolute lowest cost out there.
You should take the time to compare rates occasionally because rates are variable and change quite frequently. Even if you got the best price for C70 coverage two years ago you can probably find a lower rate today. Ignore everything you know about car insurance because you’re about to find out the best methods to buy cheaper car insurance.
An important part of buying insurance is that you know some of the elements that go into determining your insurance coverage rates. Understanding what impacts premium levels empowers consumers to make smart changes that could result in big savings.
Listed below are a few of the “ingredients” used by your company to calculate premiums.
The cost of insuring your cars can be expensive, but there could be available discounts that you may not know about. Some trigger automatically at the time of quoting, but a few need to be asked about prior to receiving the credit. If you don’t get every credit possible, you are paying more than you should be.
It’s important to understand that many deductions do not apply to the entire policy premium. Some only reduce individual premiums such as medical payments or collision. So when it seems like all those discounts means the company will pay you, companies don’t profit that way. But all discounts will cut your overall premium however.
Companies that may have these benefits may include but are not limited to:
It’s a good idea to ask each company how you can save money. All car insurance discounts may not apply in your area.
Consumers constantly see and hear ads for the lowest price auto insurance from the likes of Allstate, GEICO and Progressive. All the ads make the same claim about savings if you switch your coverage to them.
How can each company claim to save you money? It’s all in the numbers.
All the different companies have a certain “appetite” for the type of customer that makes them money. For example, a desirable insured could possibly be over the age of 50, a clean driving record, and drives less than 7,500 miles a year. A driver who matches those parameters gets the lowest rates and as a result will probably cut their rates substantially.
Potential insureds who don’t meet the “perfect” profile must pay higher premiums which usually ends up with business going elsewhere. The ads say “people who switch” not “people who quote” save that much money. That’s why companies can truthfully state the savings.
This illustrates why you need to quote coverage with many companies. It is impossible to predict which insurance company will fit your personal profile best.
When buying the right insurance coverage for your personal vehicles, there is no single plan that fits everyone. Each situation is unique and your policy should reflect that. For example, these questions could help you determine whether you would benefit from professional advice.
If you’re not sure about those questions then you might want to talk to an insurance agent. To find lower rates from a local agent, fill out this quick form or go to this page to view a list of companies. It is quick, free and may give you better protection.
Understanding the coverages of your policy helps when choosing the best coverages and proper limits and deductibles. The terms used in a policy can be confusing and even agents have difficulty translating policy wording. These are the normal coverages found on the average insurance policy.
Med pay and Personal Injury Protection (PIP)
Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses such as ambulance fees, pain medications, prosthetic devices, X-ray expenses and hospital visits. The coverages can be used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. It covers all vehicle occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage
Collision coverage protection
Collision coverage pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. A deductible applies then your collision coverage will kick in.
Collision coverage protects against claims like colliding with a tree, sideswiping another vehicle, colliding with another moving vehicle and hitting a mailbox. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to increase the deductible to save money on collision insurance.
This pays for damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive insurance covers claims such as hitting a deer, a broken windshield and falling objects. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.
Uninsured/Underinsured Motorist (UM/UIM)
Your UM/UIM coverage protects you and your vehicle from other drivers when they either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants and also any damage incurred to your Volvo C70.
Because many people have only the minimum liability required by law, their liability coverage can quickly be exhausted. So UM/UIM coverage is very important. Most of the time your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.
This can cover damage or injury you incur to other’s property or people by causing an accident. This insurance protects YOU against other people’s claims, and does not provide coverage for your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have liability limits of 100/300/100 that translate to a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property. Another option is a combined limit that pays claims from the same limit and claims can be made without the split limit restrictions.
Liability coverage pays for claims like legal defense fees, medical services, medical expenses, court costs and emergency aid. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase higher limits if possible.
Budget-conscious 1998 Volvo C70 insurance can be bought from both online companies and with local insurance agents, and you should be comparing both to have the best chance of lowering rates. Some insurance companies do not offer the ability to get a quote online and many times these small, regional companies only sell through independent insurance agents.
We just showed you a lot of ways to save on insurance. The key concept to understand is the more price quotes you have, the more likely it is that you will get a better rate. Consumers may even find the best price on insurance is with an unexpected company. These smaller insurers may often insure only within specific states and give getter rates than their larger competitors like Allstate and Progressive.
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