Looking for cheaper auto insurance rates for your Volvo V50? I can’t think of a single person who is fond of buying auto insurance, particularly when they could lower their rates if they shopped around.
You have so many insurers to insure vehicles with, and though it is a good thing to have a selection, it can be more challenging to compare rates and find the lowest cost auto insurance.
Effectively comparing insurance prices can be a lot of work if you don’t know the most efficient way. You could spend the better part of a day talking to insurance agencies in your area, or you can utilize online quoting to get rate comparisons in just a few minutes.
Most of the larger companies participate in an industry program where insurance shoppers only type in their quote data once, and at least one company can give them a price for coverage. This prevents consumers from doing quote forms to each individual insurance company.
To enter your information into the quoting system, click here to start a free quote.
One minor caviat to comparing rates this way is buyers cannot specifically choose the insurers you want to price. If you prefer to choose individual companies to request quotes from, we have assembled a list of companies who write insurance in your area. Click to view list.
Whichever way you choose to compare rates, make absolute certain that you use exactly the same coverages on every quote you get. If each company quotes different limits and deductibles on each one it will be impossible to determine the best price for your Volvo V50. Even a minor difference in insurance coverages could throw off the whole comparison. It’s important to know that comparing a wide range of rates helps locate the best rates. Some insurance companies are not set up to provide online rate quotes, so you need to compare quotes from them, too.
Respected companies like Progressive, Geico, Allstate and State Farm regularly use television, radio, and online ads. All the ads advertise claims about how much you will save just by switching your policy. How do they all claim to save you money? You have to listen carefully.
All companies require specific criteria for the type of driver that will not have excessive claims. A good example of a desirable insured may need to be over the age of 40, has a clean driving record, and has a high credit rating. Any new insured that meets those criteria will get the preferred premium rates and most likely will cut their rates substantially.
Potential insureds who do not meet the requirements must pay higher rates which usually ends up with the customer buying from someone else. The wording the ads use say “drivers who switch” not “everyone who quotes” save that much when switching. That’s the way companies can make claims like that.
Because every company is different, drivers must get insurance coverage quotes from several different companies. It’s just not possible to know the company that will have the best rates.
Companies offering auto insurance do not list the entire discount list in a way that’s easy to find, so the following list contains some of the more common as well as some of the hidden credits that may apply to you.
Discounts save money, but please remember that many deductions do not apply to the overall cost of the policy. Some only reduce individual premiums such as comprehensive or collision. If you do the math and it seems like all the discounts add up to a free policy, nobody gets a free ride.
If you would like to see a list of insurers that offer many of these discounts, follow this link.
When it comes to buying coverage for your personal vehicles, there really is no perfect coverage plan. Every situation is different and a cookie cutter policy won’t apply. For example, these questions might point out if you might need an agent’s assistance.
If you don’t know the answers to these questions then you might want to talk to a licensed agent. To find lower rates from a local agent, fill out this quick form or you can also visit this page to select a carrier
Learning about specific coverages of a car insurance policy can help you determine which coverages you need and proper limits and deductibles. Car insurance terms can be confusing and even agents have difficulty translating policy wording. Below you’ll find typical coverage types available from car insurance companies.
Comprehensive car insurance – This coverage will pay to fix damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims such as a broken windshield, hitting a bird and hitting a deer. The maximum amount a car 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.
Liability coverages – This coverage can cover damages or injuries you inflict on people or other property that is your fault. It protects YOU against other people’s claims, and doesn’t cover your injuries or vehicle damage.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show liability limits of 25/50/25 that translate to $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged propery. Another option is a combined single limit or CSL that pays claims from the same limit and claims can be made without the split limit restrictions.
Liability coverage pays for things like pain and suffering, emergency aid, legal defense fees, medical services and loss of income. How much liability coverage do you need? That is a personal decision, but buy higher limits if possible.
Coverage for uninsured or underinsured drivers – This provides protection when other motorists are uninsured or don’t have enough coverage. Covered claims include medical payments for you and your occupants as well as your vehicle’s damage.
Since many drivers have only the minimum liability required by law, their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea. Frequently these limits are set the same as your liablity limits.
Collision coverages – Collision coverage will pay to fix damage to your V50 caused by collision with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against things such as scraping a guard rail, colliding with a tree, sustaining damage from a pot hole and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to raise the deductible to get cheaper collision coverage.
Coverage for medical expenses – Med pay and PIP coverage reimburse you for expenses such as funeral costs, nursing services, EMT expenses, rehabilitation expenses and prosthetic devices. The coverages can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. Coverage applies to all vehicle occupants in addition to any family member struck as a pedestrian. PIP is not an option in every state and may carry a deductible
We just showed you many tips how you can get a better price on 2005 Volvo V50 insurance. The most important thing to understand is the more rate comparisons you have, the more likely it is that you will get a better rate. You may be surprised to find that the best rates are with some of the smallest insurance companies. These smaller insurers may cover specific market segments cheaper as compared to the big name companies such as Geico and State Farm.
When trying to cut insurance costs, don’t be tempted to sacrifice coverage to reduce premiums. There are too many instances where someone dropped liability coverage limits and discovered at claim time they didn’t have enough coverage. The aim is to buy the best coverage you can find for the lowest cost and still be able to protect your assets.
Additional insurance information is available at the links below