2006 Volvo S40 Insurance Cost – 7 Savings Tips

Trying to find cheaper car insurance rates for your Volvo S40? If online car insurance comparisons are new to you, you may be overwhelmed by the hoards of companies offering insurance.

Consumers should take time to check car insurance prices occasionally since rates change frequently. Despite the fact that you may have had the best deal on S40 insurance on your last policy you can probably find a better price now. Ignore everything you know about car insurance because I’m going to let you in on the secrets to one of the easiest ways to eliminate unnecessary coverages and save money.

The best way we recommend to compare insurance rates from multiple companies is to realize most larger insurance companies actually pay money for the chance to give rate comparisons. To begin a comparison, all you need to do is give them some information like whether you have decent credit, types of safety features, your occupation, and level of coverage desired. Those rating factors is then sent to all major companies and you get price estimates almost instantly.

To start a rate quote now, click here and see if a lower rate is available.

Verify you’re getting all your discounts

Companies offering auto insurance don’t always publicize all available discounts very clearly, so we took the time to find some of the best known and the harder-to-find savings tricks you should be using.

  • Safe Drivers – Drivers who don’t get into accidents can get discounts for up to 45% lower rates on S40 insurance than their less cautious counterparts.
  • Senior Discount – Mature drivers may receive reduced rates on S40 insurance.
  • Anti-lock Brake System – Cars that have steering control and anti-lock brakes are safer to drive and earn discounts up to 10%.
  • Discount for Life Insurance – Larger companies have a break if you buy a life insurance policy as well.
  • Homeowners Pay Less – Simply owning a home can save you money because of the fact that having a home requires personal responsibility.
  • Pay Now and Pay Less – If paying your policy premium upfront instead of monthly or quarterly installments you may reduce your total bill.
  • New Vehicle Savings – Buying coverage on a new vehicle can cost up to 25% less since new cars are generally safer.

Keep in mind that some of the credits will not apply to your bottom line cost. Some only apply to individual premiums such as physical damage coverage or medical payments. Even though it may seem like all the discounts add up to a free policy, you won’t be that lucky.

To see a list of insurers offering auto insurance discounts, follow this link.

When should I talk to an agent?

When buying the right insurance coverage for your vehicles, there is no single plan that fits everyone. Everyone’s needs are different.

These are some specific questions might help in determining whether you will benefit from professional help.

  • Do I need special endorsements for business use of my vehicle?
  • Does my medical payments coverage pay my health insurance deductible?
  • When can I cancel my policy?
  • Am I covered when driving someone else’s vehicle?
  • What is no-fault insurance?
  • Do all my vehicles need collision coverage?

If you can’t answer these questions, then you may want to think about talking to an agent. To find an agent in your area, simply complete this short form.

Insurance coverage breakdown

Understanding the coverages of your policy aids in choosing appropriate coverage for your vehicles. The terms used in a policy can be ambiguous and nobody wants to actually read their policy.

Liability insurance

This can cover injuries or damage you cause to a person or their property by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 25/50/25 which stand for $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and a total limit of $25,000 for damage to vehicles and property.

Liability coverage protects against claims such as structural damage, repair costs for stationary objects and loss of income. How much liability should you purchase? That is a personal decision, but buy as much as you can afford.

Uninsured/Underinsured Motorist (UM/UIM)

This gives you protection when other motorists either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your Volvo S40.

Since many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is important protection for you and your family.

Med pay and Personal Injury Protection (PIP)

Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses such as pain medications, hospital visits, surgery, EMT expenses and X-ray expenses. They are often used to fill the gap from your health insurance policy or if there is no health insurance coverage. It covers both the driver and occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay

Comprehensive insurance

This coverage will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive can pay for things like theft, damage from getting keyed and fire damage. The highest amount you can receive from a comprehensive claim is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Collision protection

Collision insurance pays for damage to your S40 resulting from a collision with another car or object. A deductible applies then your collision coverage will kick in.

Collision coverage pays for claims like crashing into a ditch, damaging your car on a curb, colliding with another moving vehicle and colliding with a tree. Paying for collision coverage can be pricey, so consider dropping it from lower value vehicles. Another option is to increase the deductible to bring the cost down.