Cheaper 2011 Volvo V50 Insurance Quotes

Trying to find the cheapest auto insurance rates for your Volvo V50? Tired of scraping the payment together to insure your Volvo every month? Your situation is no different than many other drivers. Because you have many insurance companies to choose from, it’s difficult to locate the right company.

The purpose of this article is to instruct you on how car insurance quotes work and some tricks to saving. If you currently have car insurance, you will most likely be able to reduce your rates substantially using this information. Consumers only need an understanding of the proper way to compare price quotes over the internet.

Lower rates by qualifying for discounts

Insuring your fleet can be pricey, buy you may qualify for discounts to help offset the cost. A few discounts will automatically apply at the time of purchase, but some may not be applied and must be requested specifically before being credited. If they aren’t giving you every credit available, you’re just leaving money on the table.

  • Accident Forgiveness – A few companies will allow you to have one accident before raising your premiums if you are claim-free prior to the accident.
  • Save over 55 – Older drivers may be able to get reduced rates for V50 coverage.
  • Life Insurance – Select insurance companies reward you with better rates if you take out life insurance.
  • Fewer Miles Equal More Savings – Low mileage vehicles can qualify you for better rates on cars that stay parked.
  • Resident Student – Children who attend school more than 100 miles from home and do not have a car may be able to be covered for less.

A little note about advertised discounts, many deductions do not apply to your bottom line cost. Most only cut the cost of specific coverages such as medical payments or collision. Even though it may seem like adding up those discounts means a free policy, insurance coverage companies aren’t that generous. Any amount of discount will help reduce the amount you have to pay.

A partial list of companies who might offer these money-saving discounts include:

Check with each insurance company what discounts are available to you. All car insurance discounts may not apply in every state.

Why your Volvo V50 insurance rates may be high

It’s important that you understand the different types of things that go into determining the price you pay for insurance coverage. Having a good understanding of what impacts premium levels enables informed choices that may reward you with better insurance coverage rates.

Listed below are a few of the “ingredients” insurance coverage companies consider when setting rates.

  • Lower rates with optional equipment – Choosing a vehicle with a theft deterrent system can help bring down rates. Anti-theft devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can thwart auto theft.
  • Drive a safer car and pay less – Vehicles with good safety scores get lower rates. These vehicles protect occupants better and lower injury rates means lower claim amounts and thus lower rates. If your Volvo V50 scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may be receiving lower rates.
  • Sex matters – Statistics show that women are safer drivers than men. That doesn’t necessarily mean that women are BETTER drivers than men. They both have accidents in similar percentages, but the males cause more damage. They also get more serious tickets such as reckless driving. Teenage male drivers are several times more likely to be in an accident and thus pay the highest rates.
  • Consolidate policies to earn discounts – Some insurance companies provide better rates to policyholders who carry more than one policy in the form of a multi-policy discount. If you currently are using one company, you still need to shop around to ensure the best deal.

Car insurance is unique, just like you

When it comes to choosing adequate coverage, there really is no best way to insure your cars. Every insured’s situation is different so your insurance should reflect that Here are some questions about coverages that may help you determine if you might need an agent’s assistance.

  • Can I make deliveries for my home business?
  • Should I have combined single limit or split liability limits?
  • Do I need replacement cost coverage?
  • Can I afford low physical damage deductibles?
  • Should I have a commercial auto policy?
  • Should I drop comprehensive coverage on older vehicles?
  • Should I rate my 2011 Volvo V50 as pleasure use or commute?
  • Can my babysitter drive my car?

If it’s difficult to answer those questions, you might consider talking to an agent. To find an agent in your area, complete this form or click here for a list of car insurance companies in your area. It’s fast, free and may give you better protection.

Can switching companies really save?

Drivers can’t ignore all the ads for car insurance savings by 21st Century, Allstate and State Farm. They all make the same claim that you can save if you change to their company.

How do they all say the same thing?

Insurance companies have a certain “appetite” for the type of customer they prefer to insure. For example, a preferred risk might be over the age of 40, has no driving citations, and drives newer vehicles. A customer who matches those parameters is entitled to the best price and most likely will save when they switch companies.

Drivers who fall outside the requirements will have to pay higher premiums and ends up with the driver buying from a lower-cost company. The ads say “people who switch” not “everyone that quotes” save that much. That’s the way companies can truthfully state the savings.

Because of the profiling, it’s extremely important to compare many company’s rates. You cannot predict which insurance companies will fit your personal profile best.

Auto insurance coverage information

Understanding the coverages of insurance aids in choosing the best coverages for your vehicles. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy. Shown next are the normal coverages available from insurance companies.

Liability auto insurance

This coverage will cover injuries or damage you cause to other’s property or people. It protects you from legal claims by others, and does not provide coverage for your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 50/100/50 that translate to a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery. Alternatively, you may have one number which is a combined single limit which combines the three limits into one amount without having the split limit caps.

Liability insurance covers claims such as emergency aid, repair bills for other people’s vehicles and legal defense fees. The amount of liability coverage you purchase is your choice, but you should buy higher limits if possible.

Comprehensive (Other than Collision)

Comprehensive insurance pays for damage that is not covered by collision coverage. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things such as hitting a bird, vandalism, falling objects, fire damage and a broken windshield. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Medical expense insurance

Coverage for medical payments and/or PIP provide coverage for short-term medical expenses for hospital visits, doctor visits and surgery. They are used in conjunction with a health insurance plan or if you do not have health coverage. Coverage applies to all vehicle occupants and also covers getting struck while a pedestrian. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage

Collision protection

This coverage will pay to fix damage to your V50 resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things such as hitting a parking meter, hitting a mailbox, backing into a parked car and damaging your car on a curb. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. Drivers also have the option to raise the deductible in order to get cheaper collision rates.

Protection from uninsured/underinsured drivers

This gives you protection when the “other guys” do not carry enough liability coverage. This coverage pays for hospital bills for your injuries as well as damage to your Volvo V50.

Due to the fact that many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family. Frequently these coverages are set the same as your liablity limits.

Get your money’s worth

Cheaper 2011 Volvo V50 insurance can be found both online as well as from independent agents, and you need to price shop both to get a complete price analysis. Some companies don’t offer online price quotes and many times these regional insurance providers only sell through independent insurance agents.

We just covered a lot of information how to compare insurance prices online. The key concept to understand is the more providers you compare, the better likelihood of reducing your rate. Drivers may discover the lowest priced auto insurance comes from the least-expected company. They may have significantly lower rates on certain market segments than the large multi-state companies such as State Farm or Progressive.

Much more information about auto insurance can be found below: