Save on 2006 Volvo V50 Car Insurance Rates

Locating low-cost insurance for a Volvo V50 could be a lot of work, but you can learn these tips to make it easier. There are both good and bad ways to shop for auto insurance so you’re going to learn the absolute fastest way to compare rates for a Volvo and obtain the cheapest rates either online or from local insurance agents.

Factors influencing Volvo V50 insurance rates

An important part of buying insurance is that you know the different types of things that play a part in calculating your car insurance rates. When you know what positively or negatively determines base rates helps enable you to make changes that can help you get better car insurance rates.

  • Don’t cancel a policy without a new one in place – Having an insurance coverage lapse is a guaranteed way to trigger a rate increase. And not only will your rates increase, failure to provide proof of insurance can result in a steep fine or even jail time.You may then be required to file a SR-22 with your state motor vehicle department to get your license reinstated.
  • Consolidate policies to earn discounts – Most insurance companies will award you with lower prices to people who buy several policies from them. It’s known as a multi-policy discount. This can amount to 10 percent or more. Even with this discount, you still need to compare other company rates to ensure the best deal.
  • Your location is important – Residing in small towns and rural areas is a positive aspect when it comes to car insurance. Drivers who live in large cities regularly have more traffic problems and a longer drive to work. Fewer people means a lower chance of having an accident and a lower car theft rate.
  • Pleasure use saves money – The more miles you rack up on your Volvo in a year’s time the higher your rates will be. Most companies price each vehicle’s coverage determined by how the vehicle is used. Cars not used for work or commuting qualify for better rates compared to those used for work or business. Having the wrong rating on your V50 can cost quite a bit. Ask your agent if your car insurance policy is showing how each vehicle is driven.
  • Low deductibles can be expensive – Physical damage insurance, otherwise known as comp (or other than collision) and collision, protects your Volvo from damage. Some examples of claims that would be covered are collision with another vehicle, vandalism, and burglary. Your deductibles are the amount of money you are willing to pay out-of-pocket before a claim is paid by your company. The more expense the insured has to pay upfront, the less your car insurance will be for V50 insurance.

Don’t overlook these discounts

Car insurance companies don’t necessarily list all their discounts in an easy-to-find place, so we researched some of the best known as well as the least known discounts you could be receiving. If they aren’t giving you every credit you deserve, you are throwing money away.

  • Accident Forgiveness – Some insurance companies allow you one accident before raising your premiums if you are claim-free for a particular time prior to the accident.
  • Good Student Discount – Performing well in school can save 20 to 25%. This discount can apply well after school through age 25.
  • Multi-policy Discount – When you combine your home and auto insurance with one insurance company you may save 10% to 20% off each policy.
  • Discounts for Safe Drivers – Insureds without accidents can pay as much as 50% less for V50 insurance than less cautious drivers.
  • Clubs and Organizations – Affiliation with certain professional organizations may earn a discount on your policy for V50 insurance.
  • Student Driver Training – Cut your cost by having your teen driver enroll in driver’s education if it’s offered in school.

As a disclaimer on discounts, many deductions do not apply to all coverage premiums. Some only apply to the price of certain insurance coverages like liability and collision coverage. So despite the fact that it appears you can get free auto insurance, you’re out of luck.

For a list of providers who offer insurance coverage discounts, follow this link.

Can switching companies really save?

Drivers constantly see and hear ads for cheaper car insurance from companies such as Allstate and Progressive. All the companies make the same claim about savings if you move your policy.

How does each company say the same thing?

All the different companies have a certain “appetite” for the type of customer that makes them money. An example of a preferred risk might be over the age of 40, insures multiple vehicles, and has excellent credit. A customer getting a price quote who fits that profile is entitled to the best price and therefore will cut their rates substantially.

Drivers who don’t meet this ideal profile will be charged a higher premium and ends up with business going elsewhere. The ads state “customers who switch” but not “drivers who get quotes” save that kind of money. That’s the way insurance companies can confidently advertise the way they do. That is why it is so important to compare as many rates as you can. It’s impossible to know the company that will have the lowest Volvo V50 insurance rates.

Is my situation unique?

When it comes to buying the best auto insurance coverage for your personal vehicles, there really is no best way to insure your cars. Every insured’s situation is different.

For example, these questions could help you determine if your insurance needs could use an agent’s help.

  • Does my insurance cover a custom paint job?
  • How does medical payments coverage work?
  • Do I need roadside assistance coverage?
  • What is high-risk coverage and where do I buy it?
  • Do I really need UM/UIM coverage?
  • Are my friends covered when driving my car?
  • How can I find cheaper teen driver insurance?
  • How much liability coverage do I need in my state?
  • Is my trailer covered?

If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, simply complete this short form. It only takes a few minutes and can help protect your family.

Auto insurance policy coverages for a 2006 Volvo V50

Understanding the coverages of auto insurance can be of help when determining which coverages you need for your vehicles. The terms used in a policy can be impossible to understand and coverage can change by endorsement.

Collision coverage – Collision coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like rolling your car, hitting a mailbox and sideswiping another vehicle. Paying for collision coverage can be pricey, so consider dropping it from older vehicles. You can also choose a higher deductible to bring the cost down.

UM/UIM Coverage – This gives you protection when the “other guys” either are underinsured or have no liability coverage at all. It can pay for medical payments for you and your occupants as well as your vehicle’s damage.

Because many people only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage should not be overlooked.

Liability – Liability coverage will cover injuries or damage you cause to other’s property or people by causing an accident. It protects YOU against claims from other people, and doesn’t cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property.

Liability can pay for claims such as funeral expenses, emergency aid, bail bonds and loss of income. How much liability coverage do you need? That is your choice, but you should buy as high a limit as you can afford.

Medical costs insurance – Medical payments and Personal Injury Protection insurance pay for bills for nursing services, rehabilitation expenses, funeral costs and pain medications. The coverages can be used to fill the gap from your health insurance plan or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage

Comprehensive or Other Than Collision – Comprehensive insurance coverage pays for damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things such as a tree branch falling on your vehicle, hail damage, fire damage, falling objects and damage from a tornado or hurricane. The maximum payout your auto insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

A little work can save a LOT of money

Drivers change insurance companies for any number of reasons including policy non-renewal, high prices, not issuing a premium refund and even being labeled a high risk driver. It doesn’t matter what your reason, switching companies is pretty simple and you could end up saving a buck or two.

The cheapest 2006 Volvo V50 insurance can be sourced both online in addition to many insurance agents, and you need to price shop both to have the best chance of lowering rates. Some insurance companies do not provide the ability to get a quote online and most of the time these small insurance companies sell through independent agents.

As you restructure your insurance plan, you should never skimp on coverage in order to save money. There are many occasions where someone dropped liability limits or collision coverage only to find out they didn’t purchase enough coverage. Your goal should be to get the best coverage possible at the best price.

More detailed auto insurance information can be found in the articles below: