2011 Volvo V50 Insurance Rates – 6 Savings Tips

Looking for lower auto insurance rates for your Volvo V50? Wish you could get a refund on an underperforming, overpriced auto insurance policy? Believe me when I say you are not the only one feeling buyer’s remorse. Consumers have multiple car insurance companies to buy insurance from, and even though it’s nice to have a choice, more choices can make it harder to compare rates and find the lowest cost auto insurance.

It’s a good habit to price shop coverage periodically because rates are rarely the same from one policy term to another. Despite the fact that you may have had the lowest rate on V50 coverage on your last policy there is a good chance you can find better prices now. Forget anything you know (or think you know) about auto insurance because it’s time to teach you the easiest way to lower your annual insurance bill.

Choosing the best insurance company for you is quite easy. If you are paying for car insurance now, you should be able to reduce your rates substantially using this strategy. Drivers only need an understanding of how to compare rates over the internet.

Don’t overlook these six car insurance discounts

Some companies don’t always list the entire discount list in a way that’s easy to find, so the below list has both the well known and also the more inconspicuous discounts you could be receiving when you buy insurance online.

  • Waiver for an Accident – Not really a discount, but companies like Progressive and Allstate will turn a blind eye to one accident without getting socked with a rate hike so long as you haven’t had any claims before the accident.
  • Auto/Life Discount – Insurance companies who offer life insurance give a break if you buy auto and life insurance together.
  • Smart Student Discounts – A discount for being a good student may save as much as 25% on a insurance quote. Many companies even apply the discount to college students up until you turn 25.
  • Paperless Signup – Some insurance companies will discount your bill up to fifty bucks for signing up on the web.
  • Buy New and Save – Insuring a vehicle that is new can save up to 30% because new model year vehicles have to meet stringent safety requirements.
  • Seat Belts Save more than Lives – Drivers who require all vehicle occupants to buckle up can save 10% or more off the personal injury premium cost.

Discounts save money, but please remember that some of the credits will not apply to all coverage premiums. Some only reduce individual premiums such as medical payments or collision. Even though it may seem like you could get a free car insurance policy, it’s just not the way it works.

If you would like to view providers with the best car insurance discounts, click here.

When to get professional advice

When choosing coverage, there really is no single plan that fits everyone. Every insured’s situation is different so your insurance needs to address that. Here are some questions about coverages that may help highlight whether or not you might need an agent’s assistance.

  • Will my vehicle be repaired with OEM or aftermarket parts?
  • Does insurance cover damages from a DUI accident?
  • Are split liability limits better than a combined single limit?
  • I have a DUI can I still get coverage?
  • What is medical payments coverage?
  • What are the best liability limits?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Can I rate high risk drivers on liability-only vehicles?
  • Should I get collision insurance on every vehicle?

If you can’t answer these questions but you think they might apply to your situation, you might consider talking to an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies. It’s fast, free and may give you better protection.

Auto insurance in the media

Consumers can’t ignore all the ads that promise big savings from companies such as Allstate, Geico and Progressive. They all seem to state the claim of big savings if you switch your policy.

It sounds good, but how can they all make almost identical claims? It’s all in the words they use.

All companies offer their best rates for the type of driver that will add to their bottom line. For example, a profitable insured may need to be over age 30, carries high limits, and drives less than 10,000 miles a year. Any person who meets those qualifications will get very good car insurance rates and therefore will save some money.

Insureds who may not quite match this stringent profile will get a more expensive rate which translates to the customer buying from a different company. If you pay attention, the ads say “people who switch” not “everyone who quotes” can get the lowest rates when switching. That’s why insurance companies can claim big savings. Each company has different criteria, so drivers must do a price quote comparison at every renewal. It is impossible to predict with any certainty which company will have the best premium rates.

Car insurance coverages for a Volvo V50

Knowing the specifics of insurance aids in choosing which coverages you need and the correct deductibles and limits. Insurance terms can be impossible to understand and nobody wants to actually read their policy. These are typical coverages found on the average insurance policy.

Comprehensive or Other Than Collision

Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things like damage from flooding, theft and rock chips in glass. The maximum payout you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills such as X-ray expenses, doctor visits and nursing services. They are often used to cover expenses not covered by your health insurance plan or if you lack health insurance entirely. It covers you and your occupants and also covers getting struck while a pedestrian. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage

UM/UIM Coverage

This coverage provides protection from other drivers when they either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants and damage to your 2011 Volvo V50.

Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is very important.

Collision protection

Collision coverage pays for damage to your V50 caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.

Collision can pay for things such as sideswiping another vehicle, colliding with a tree, rolling your car and scraping a guard rail. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. You can also raise the deductible in order to get cheaper collision rates.

Liability insurance

Liability coverage will cover damage that occurs to a person or their property that is your fault. This coverage protects you from legal claims by others, and does not provide coverage for damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see policy limits of 50/100/50 which means a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery.

Liability can pay for things such as emergency aid, repair costs for stationary objects and loss of income. How much liability should you purchase? That is a decision to put some thought into, but consider buying higher limits if possible.

Feed the piggy bank

Discount 2011 Volvo V50 insurance is definitely available on the web and also from your neighborhood agents, so you should compare both to have the best rate selection. A few companies may not have online quoting and many times these small, regional companies only sell coverage through independent agencies.

In this article, we covered some good ideas how you can lower your 2011 Volvo V50 insurance rates. The key thing to remember is the more quotes you get, the more likely it is that you will get a better rate. You may be surprised to find that the lowest priced auto insurance comes from the least-expected company. These smaller insurers may have significantly lower car insurance rates on certain market segments than their larger competitors like Progressive and Geico.

Additional information