Trying to find the cheapest auto insurance rates for your Volvo S60? Have you had enough of not being able to afford to insure your Volvo every month? You are in the same boat as millions of other consumers. Many auto insurance companies compete for your hard-earned dollar, and because of this it can be hard to compare auto insurance companies and get the best coverage at the lowest rate
Finding a better price on insurance coverage isn’t really that difficult. The only requirement is to invest a little time comparing rate quotes provided by online insurance companies. This is very easy and can be done using a couple different methods.
The single most time-saving way to find the lowest comparison rates would be an industry-wide quote request form like this one (opens in new window). This type of form prevents you from having to do multiple quote forms to each individual insurance coverage company. One form submission gets you coverage quotes from insurance coverage companies with the best prices.
A different way to get comparison quotes requires visiting the website of each company and request a quote. For examples sake, let’s say you want comparison quotes from GEICO, Esurance and Progressive. To find out each rate you need to take the time to go to each site to enter your coverage information, which is why most consumers use the first method. For a list of links to insurance companies in your area, click here.
The most time-consuming method of comparing rate quotes is driving around to different agent offices. The internet eliminates the need for an insurance agent unless you have a need for the personal advice that only a license agent can provide. Drivers can price shop online and still use a local agent and we’ll cover that in a bit.
However you get your quotes, make sure you use exactly the same coverage limits for every quote you compare. If you are comparing differing limits it will be next to impossible to make an equal comparison.
Smart consumers have a good feel for the different types of things that play a part in calculating your auto insurance rates. Having a good understanding of what impacts premium levels allows you to make educated decisions that can help you get better auto insurance rates.
Properly insuring your vehicles can get expensive, but companies offer discounts that many people don’t even know exist. A few discounts will automatically apply when you complete an application, but less common discounts must be asked about prior to receiving the credit. If you don’t get every credit you qualify for, you are throwing money away.
Drivers should understand that many deductions do not apply to the entire policy premium. Most only reduce the cost of specific coverages such as liability, collision or medical payments. So when the math indicates you would end up receiving a 100% discount, insurance companies aren’t that generous. Any qualifying discounts will cut your premiums.
To see a list of providers who offer insurance discounts, click here.
When buying the right insurance coverage, there is no “best” method to buy coverage. Every situation is different so your insurance needs to address that. Here are some questions about coverages that could help you determine if your insurance needs may require specific advice.
If it’s difficult to answer those questions but you think they might apply to your situation, then you may want to think about talking to a licensed agent. To find an agent in your area, complete this form or you can also visit this page to select a carrier It’s fast, free and can help protect your family.
Understanding the coverages of your policy can help you determine appropriate coverage and proper limits and deductibles. Policy terminology can be impossible to understand and nobody wants to actually read their policy. Shown next are the normal coverages found on most auto insurance policies.
Coverage for liability – This can cover damages or injuries you inflict on other people or property. It protects YOU from claims by other people. Liability doesn’t cover 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. You might see liability limits of 100/300/100 which means a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property. Some companies may use a combined limit which limits claims to one amount rather than limiting it on a per person basis.
Liability coverage protects against things such as loss of income, legal defense fees and pain and suffering. How much liability coverage do you need? That is your choice, but buy as large an amount as possible.
Medical payments coverage and PIP – Coverage for medical payments and/or PIP reimburse you for bills for things like pain medications, doctor visits, EMT expenses and nursing services. The coverages can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage
Collision – This coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.
Collision insurance covers claims like hitting a mailbox, colliding with another moving vehicle, hitting a parking meter and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are older. You can also bump up the deductible in order to get cheaper collision rates.
Comprehensive coverage – Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive can pay for things such as falling objects, hitting a bird, damage from a tornado or hurricane, a tree branch falling on your vehicle and fire damage. The most a auto insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Uninsured/Underinsured Motorist coverage – This protects you and your vehicle when other motorists either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as your vehicle’s damage.
Because many people have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is very important. Frequently your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
You just learned a lot of techniques to save on 2013 Volvo S60 insurance. The most important thing to understand is the more times you quote, the more likely it is that you will get a better rate. You may even discover the lowest rates come from an unexpected company. They may only write in your state and offer lower rates than the large multi-state companies such as Allstate, GEICO and Progressive.
Cheaper insurance is available from both online companies and with local insurance agents, so you should compare both to have the best selection. A few companies do not offer online quoting and these regional insurance providers work with independent agents.
As you restructure your insurance plan, it’s a bad idea to skimp on critical coverages to save a buck or two. There are many occasions where an insured cut uninsured motorist or liability limits only to discover later that the few dollars in savings costed them thousands. The ultimate goal is to buy a smart amount of coverage at a price you can afford while not skimping on critical coverages.
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