1993 Volvo 240 Insurance Rates – 6 Savings Tips

Tired of paying out the nose to pay your car insurance bill each month? You are in the same boat as the majority of other car owners. You have multiple insurers to choose from, and although it’s a good thing to be able to choose, it can be more challenging to compare rates and cut insurance costs.

Cut your auto insurance rates with these six discounts

Insurance can be prohibitively expensive, but there could be available discounts to cut the cost considerably. A few discounts will automatically apply when you purchase, but a few must be inquired about in order for you to get them. If you’re not getting every credit available, you’re paying more than you need to.

  • Club Memberships – Affiliation with a professional or civic organization is a good way to get lower rates when buying auto insurance for 240 coverage.
  • Discount for Life Insurance – Companies who offer life insurance give better rates if you take out auto and life insurance together.
  • Paperwork-free – A few companies will give a small break for buying a policy and signing up on their website.
  • Seat Belts Save – Drivers who require all occupants to wear their seat belts can save up to 15% off the personal injury premium cost.
  • Theft Prevention Discount – Cars that have factory anti-theft systems prevent vehicle theft and qualify for as much as a 10% discount.
  • Safety Course Discount – Taking part in a defensive driving course could save 5% or more if you qualify.

It’s important to note that most of the big mark downs will not be given the the whole policy. Most cut individual premiums such as physical damage coverage or medical payments. So when the math indicates all the discounts add up to a free policy, companies wouldn’t make money that way. But all discounts will help reduce your premiums.

For a list of companies who offer auto insurance discounts, click here to view.

You are unique and your auto insurance should be too

When it comes to choosing adequate coverage, there really is not a cookie cutter policy. Each situation is unique and a cookie cutter policy won’t apply. Here are some questions about coverages that could help you determine whether or not you might need professional guidance.

  • Will filing a claim cost me more?
  • Is a blown tire covered by insurance?
  • Do I need to file an SR-22 for a DUI in my state?
  • I have a DUI can I still get coverage?
  • I have good health insurance, so how much medical payments coverage do I need?
  • Why is insurance for a teen driver so high?
  • Am I covered if I drive in a foreign country?
  • Will my insurance pay for OEM parts?

If you don’t know the answers to these questions but one or more may apply to you then you might want to talk to an insurance agent. To find lower rates from a local agent, take a second and complete this form or go to this page to view a list of companies. It’s fast, free and may give you better protection.

Don’t listen to company ads

Consumers can’t get away from ads for car insurance savings by companies like Allstate, Geico and Progressive. They all seem to have a common claim that you can save after switching to them.

How does each company make almost identical claims?

All companies have a preferred profile for the right customer that makes them money. An example of a desirable insured could possibly be over the age of 40, insures multiple vehicles, and chooses high deductibles. Any driver that hits that “sweet spot” will get very good rates and therefore will save quite a bit of money when switching.

Drivers who don’t qualify for the requirements will be charged more money which leads to the customer not buying. The ad wording is “customers who switch” not “people who quote” save that much. That’s the way companies can truthfully make the claims of big savings.

That is why drivers must get as many quotes as possible. It’s not possible to predict which insurance companies will have the lowest Volvo 240 insurance rates.

What car insurance coverages do you need?

Knowing the specifics of your policy aids in choosing which coverages you need and proper limits and deductibles. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy. Below you’ll find typical coverages found on the average car insurance policy.

Comprehensive coverages

This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers claims like damage from a tornado or hurricane, theft, hitting a deer and falling objects. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Coverage for medical payments

Coverage for medical payments and/or PIP kick in for immediate expenses for things like rehabilitation expenses, chiropractic care, ambulance fees, hospital visits and nursing services. They are used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Liability auto insurance

Liability coverage can cover damage or injury you incur to other people or property. It protects you against other people’s claims. Liability doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 100/300/100 which stand for a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property. Alternatively, you may have a combined limit that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability insurance covers claims like funeral expenses, pain and suffering, repair costs for stationary objects, legal defense fees and loss of income. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as large an amount as possible.

Uninsured and underinsured coverage

This coverage provides protection from other motorists when they do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as damage to your 1993 Volvo 240.

Because many people carry very low liability coverage limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is important protection for you and your family. Normally these limits are set the same as your liablity limits.

Collision protection

Collision coverage will pay to fix damage to your 240 caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage pays for claims such as colliding with another moving vehicle, scraping a guard rail, hitting a parking meter and backing into a parked car. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. Another option is to bump up the deductible to bring the cost down.

Shop smart and save

Affordable 1993 Volvo 240 insurance can be bought online and also from your neighborhood agents, so compare prices from both to have the best chance of lowering rates. Some companies may not provide online quoting and these small, regional companies work with independent agents.

You just learned many tips how you can get a better price on insurance. The most important thing to understand is the more you quote, the better your comparison will be. Consumers may even find the lowest rates come from an unexpected company. Regional companies may only write in your state and offer lower rates than their larger competitors like Allstate and Progressive.

When trying to cut insurance costs, never skimp on critical coverages to save a buck or two. There have been many situations where an accident victim reduced uninsured motorist or liability limits and found out when filing a claim that their decision to reduce coverage ended up costing them more. The proper strategy is to buy enough coverage at the best price while not skimping on critical coverages.

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