I doubt anyone loves paying for insurance, especially when they know they could get a better deal. Companies like State Farm, Farmers Insurance, Geico and Allstate constantly blast consumers with ads and consumers find it hard to ignore the flying pigs and cute green geckos and find the best price available.
It’s a good idea to compare premium rates every six months due to the fact that insurance rates are variable and change quite frequently. If you had the best premium rates on S60 insurance two years ago the chances are good that you can find a lower price today. There is a lot of bad advice regarding insurance on the internet, but by reading this article, you’re going to learn some great ideas on how to save money.
Some providers don’t always list every available discount in an easy-to-find place, so we took the time to find some of the more common and also the more inconspicuous credits available to bring down your rates. If you do not double check each discount possible, you’re paying more than you need to.
A little note about advertised discounts, most discount credits are not given to the overall cost of the policy. The majority will only reduce the price of certain insurance coverages like liability and collision coverage. Just because you may think you could get a free auto insurance policy, auto insurance companies aren’t that generous.
A list of auto insurance companies and the discounts they provide are included below.
Check with each company or agent to give you their best rates. All car insurance discounts may not apply to policyholders in every state. To locate companies with the best auto insurance discounts, follow this link.
Lots of things are part of the calculation when premium rates are determined. Some are obvious such as traffic violations, although some other factors are not as apparent such as your credit history or your commute time.
The list below includes some of the things used by insurance companies to determine your rates.
When it comes to buying adequate coverage, there really is no cookie cutter policy. Everyone’s situation is unique so this has to be addressed. For instance, these questions may help highlight whether your personal situation could use an agent’s help.
If you’re not sure about those questions but a few of them apply then you might want to talk to a licensed agent. If you want to speak to an agent in your area, fill out this quick form or you can also visit this page to select a carrier It only takes a few minutes and may give you better protection.
Drivers get pounded daily by advertisements that claim the best premium rates by companies like Progressive, Geico, Allstate and State Farm. All the ads say the same thing that you’ll save big if you get a free insurance coverage quote and switch to them.
How does each company offer drivers better rates?
Car insurance companies have specific criteria for the type of customer they prefer to insure. For instance, a profitable insured may be over the age of 45, carries high limits, and has excellent credit. Any new insured who fits that profile is entitled to the best price and will save if they switch.
Consumers who don’t meet this ideal profile will see higher prices and this results in business going elsewhere. If you listen closely, the ads state “people that switch” not “everyone who quotes” will save that much if they switch. That is how insurance companies can make it sound like they have such great rates. This illustrates why you absolutely need to do a rate comparison at every renewal. It’s not possible to predict the company that will have the best prices at this point in time.
Understanding the coverages of your policy aids in choosing which coverages you need and proper limits and deductibles. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. These are typical coverages available from auto insurance companies.
Uninsured/Underinsured Motorist (UM/UIM) – This gives you protection when the “other guys” 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 2002 Volvo S60.
Because many people have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is very important.
Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP reimburse you for expenses such as funeral costs, dental work, surgery and doctor visits. The coverages can be used to fill the gap from your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants and also covers any family member struck as a pedestrian. PIP coverage is not an option in every state but can be used in place of medical payments coverage
Coverage for liability – This coverage will cover injuries or damage you cause to people or other property by causing an accident. This coverage protects you from legal claims by others, and doesn’t cover damage to your own property or vehicle.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 100/300/100 which means a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property.
Liability insurance covers claims such as pain and suffering, legal defense fees, loss of income and repair bills for other people’s vehicles. How much liability coverage do you need? That is a decision to put some thought into, but buy as high a limit as you can afford.
Collision – This pays to fix your vehicle from damage caused by collision with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision can pay for claims like crashing into a building, hitting a mailbox, colliding with another moving vehicle, damaging your car on a curb and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. Another option is to increase the deductible to get cheaper collision coverage.
Comprehensive insurance – Comprehensive insurance coverage pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for claims such as hitting a deer, falling objects and damage from getting keyed. The maximum 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.
When buying insurance coverage, you should never skimp on critical coverages to save a buck or two. Too many times, drivers have reduced liability coverage limits only to regret at claim time that the small savings ended up costing them much more. Your goal should be to buy the best coverage you can find at the best cost, not the least amount of coverage.
We covered many ways to reduce 2002 Volvo S60 insurance car insurance rates online. It’s most important to understand that the more companies you get premium rates for, the better chance you’ll have of finding cheap insurance coverage. Consumers could even find that the most savings is with some of the smallest insurance companies. Some small companies may often insure only within specific states and give getter rates than their larger competitors like State Farm and Allstate.
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