2003 Volvo S40 Car Insurance Rates – 10 Tricks for Best Quotes

Looking for better auto insurance rates for your Volvo S40? Being forced to pay for expensive auto insurance premiums can empty your savings account and require stricter spending habits. Comparing rate quotes can be a smart way to slash your bill and have more diposable income.

Many auto insurance companies vie to insure your vehicles, and it can be difficult to compare rates and get the best coverage at the best price available.

Car insurance policy discounts

Car insurance is easily one of your largest bills, but you may qualify for discounts that many consumers don’t even know exist. Certain reductions will be credited at the time of purchase, but a few must be specially asked for before you get the savings. If you check and find you aren’t receiving every discount possible, you are just wasting money.

  • Discounts for Responsible Drivers – Drivers who don’t get into accidents may save up to 50% more on S40 insurance as compared to drivers with claims.
  • ABS Brakes – Vehicles with ABS and/or traction control are much safer to drive and therefore earn up to a 10% discount.
  • College Student Discount – Kids who are enrolled in a college that is more than 100 miles from home and do not have access to a covered vehicle can receive lower rates.
  • Federal Government Employee – Federal government employees could qualify for a slight premium decrease on S40 insurance depending on your car insurance provider.
  • Defensive Driver – Completing a course in driver safety can save you 5% or more and easily pay for the cost of the class.
  • Switch and Save Discount – Select car insurance companies give a discount for switching to them before your current expiration date. The savings is around 10%.
  • Accident Forgiveness Coverage – Not really a discount, but a few companies such as Allstate and Geico will forgive one accident before raising your premiums if you have no claims for a specific time period.
  • Discount for Home Ownership – Being a homeowner may earn you a small savings because maintaining a house requires a higher level of personal finance.
  • Onboard Data Collection – Drivers who agree to allow their car insurance company to track their driving habits by using a small device installed in their vehicle such as Allstate’s Drivewise and State Farm’s In-Drive system could save a few bucks if they show good driving skills.
  • Senior Citizen Discount – Seniors may receive a discount up to 10% on S40 insurance.

Just know that most discounts do not apply to the overall cost of the policy. Most cut the price of certain insurance coverages like comp or med pay. Even though it appears you would end up receiving a 100% discount, that’s just not realistic. But all discounts will definitely lower the amount you pay for coverage.

Some companies that have these discounts include:

It’s a good idea to ask all companies you are considering how you can save money. Some credits might not be offered on policies in your area.

Are you falling for claims of savings?

Companies like State Farm, Allstate and Geico constantly bombard you with ads on TV and radio. All the ads have a common claim about saving some big amount just by switching your car insurance policy to them. How does each company lower your premium rates? Here is how they do it.

Many companies offer their best rates for the type of customer they prefer to insure. A good example of a profitable risk profile could be between the ages of 30 and 45, has never had a claim, and drives less than 10,000 miles a year. A propective insured who fits those characteristics receive the lowest rate quotes and will most likely pay quite a bit less when switching companies.

Drivers who are not a match for this stringent profile will probably be forced to pay a more expensive rate and this can result in business going elsewhere. If you listen closely, the ads state “drivers who switch” not “everyone that quotes” save that much money. That is how insurance companies can confidently advertise the savings. Because each company has a different risk profile, you really should compare free auto insurance quotes often. It is just not possible to predict which insurance companies will provide you with the cheapest rates.

How do I know if I need professional advice?

When it comes to buying coverage for your vehicles, there really is no single plan that fits everyone. Every insured’s situation is different so your insurance needs to address that. These are some specific questions can help discover if your insurance needs might need professional guidance.

  • Exactly who is provided coverage by my policy?
  • What should my uninsured motorist coverage limits be in my state?
  • Do I have coverage when pulling a U-Haul trailer?
  • Does coverage extend to my business vehicle?
  • Is my camper covered by my car insurance policy?
  • What happens if I owe more than my 2003 Volvo S40 is worth?
  • Why does it cost so much to insure a teen driver?
  • Are there companies who specialize in insuring high-risk drivers?
  • What companies insure drivers after a DUI or DWI?

If it’s difficult to answer those questions but a few of them apply, you might consider talking to an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of auto insurance companies in your area.

Coverages available on your auto insurance policy

Learning about specific coverages of a auto insurance policy aids in choosing appropriate coverage for your vehicles. The coverage terms in a policy can be difficult to understand and reading a policy is terribly boring. Below you’ll find the usual coverages offered by auto insurance companies.

Liability

Liability coverage provides protection from damage or injury you incur to other people or property. It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You might see limits of 50/100/50 which stand for $50,000 bodily injury coverage, $100,000 for the entire accident, and $50,000 of coverage for damaged propery.

Liability insurance covers things like medical expenses, court costs and pain and suffering. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase as much as you can afford.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage kick in for immediate expenses for EMT expenses, ambulance fees, chiropractic care, funeral costs and surgery. They are used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Coverage applies to all vehicle occupants as well as being hit by a car walking across the street. PIP is not available in all states and gives slightly broader coverage than med pay

Comprehensive or Other Than Collision

This covers damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things like a tree branch falling on your vehicle, rock chips in glass, hitting a deer and hitting a bird. The most a auto insurance company will pay at claim time is the market value of your vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Auto collision coverage

Collision coverage will pay to fix damage to your S40 caused by collision with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things like scraping a guard rail, damaging your car on a curb, hitting a parking meter, driving through your garage door and crashing into a ditch. Paying for collision coverage can be pricey, so consider dropping it from lower value vehicles. You can also raise the deductible to get cheaper collision coverage.

UM/UIM Coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries as well as damage to your Volvo S40.

Since many drivers have only the minimum liability required by law, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Shop around and save

A few companies may not provide online price quotes and these regional insurance providers only sell through local independent agencies. Lower-priced 2003 Volvo S40 insurance can be bought from both online companies and with local insurance agents, and you need to comparison shop both in order to have the best price selection to choose from.

We just covered many ways to reduce 2003 Volvo S40 insurance rates online. The most important thing to understand is the more you quote auto insurance, the more likely it is that you will get a better rate. Consumers may even find the lowest rates are with a lesser-known regional company. Smaller companies can often insure niche markets at a lower cost compared to the large companies like Progressive and Geico.

When buying insurance coverage, do not skimp on critical coverages to save a buck or two. There are many occasions where an insured cut collision coverage and learned later that the small savings ended up costing them much more. Your strategy should be to purchase a proper amount of coverage at the best possible price, but do not sacrifice coverage to save money.

More detailed insurance information is available in these articles: