Lower Your 2008 Volvo V50 Car Insurance Rates

Looking for better auto insurance rates for your Volvo V50? Searching for affordable auto insurance over the internet can be impossible for consumers not familiar with comparison shopping online. With such a large number of companies competing online, how can you even start to compare every one to find the lowest price?

Buying car insurance is not that difficult. Just about every vehicle owner who buys insurance stands a good chance to be able to lower their premiums. But car owners benefit from understanding the way companies market insurance on the web and take advantage of how the system works.

Verify you’re getting all your discounts

Companies offering auto insurance don’t always advertise all available discounts very well, so here is a list both well-publicized as well as the least known discounts you could be receiving.

  • Sign Online – A handful of insurance companies will give a small break for buying your policy over the internet.
  • Defensive Driver – Taking part in a driver safety course could possibly earn you a 5% discount if you qualify.
  • Own a Home – Owning a house may trigger a insurance policy discount because of the fact that having a home shows financial diligence.
  • Anti-lock Brakes – Cars that have steering control and anti-lock brakes can reduce accidents and will save you 10% or more.
  • Low Mileage – Driving fewer miles could be rewarded with a substantially lower rate.
  • Save over 55 – If you qualify as a senior citizen, you can possibly qualify for a discount up to 10% on V50 insurance.
  • Lower Rates for Military – Having a deployed family member could mean lower rates.
  • No Claims – Drivers with accident-free driving histories can save substantially compared to accident-prone drivers.
  • Payment Discounts – If you pay your entire premium ahead of time instead of monthly or quarterly installments you could save 5% or more.

Keep in mind that most of the big mark downs will not be given to all coverage premiums. A few only apply to the price of certain insurance coverages like comp or med pay. So when it seems like all those discounts means the company will pay you, companies wouldn’t make money that way.

For a list of insurance companies with the best insurance discounts, click here to view.

Comprehensive Car Insurance Comparison Quotes

Effectively comparing car insurance prices can be a daunting task if you don’t understand the easiest way. You can spend countless hours talking to insurance agencies in your area, or you can stay home and use the internet to maximize your effort.

The majority of car insurance companies participate in an industry program where prospective buyers enter their policy data once, and each company then returns a price quote based on the submitted data. This saves time by eliminating form submissions to every company.

To compare 2008 Volvo V50 rates using this form now click here (opens in new window).

The single downside to getting quotes like this is you cannot specify the insurers you want pricing from. So if you prefer to choose from a list of companies for rate comparison, we have a listing of the cheapest car insurance companies in your area. Click to view list.

Which method you use is up to you, but make absolute certain that you use apples-to-apples coverages and limits for every company. If you enter higher or lower deductibles it will be next to impossible to truly determine the lowest rate. Just a small difference in insurance coverages can make a big difference in price. And when price shopping your coverage, more quotes gives you a better chance of getting the best offered rates.

Why your Volvo V50 might be costing you more

Consumers need to have an understanding of the rating factors that help determine your car insurance rates. Understanding what impacts premium levels empowers consumers to make smart changes that will entitle you to lower car insurance prices.

  • Men pay higher rates – The statistics show women are more cautious behind the wheel. However, this does not mean women are BETTER drivers than men. Men and women have accidents in similar percentages, but the male of the species have costlier accidents. Men also tend to have more aggressive citations like reckless driving and DUI. Male drivers age 16 to 19 are several times more likely to be in an accident and therefore have the most expensive car insurance rates.
  • Pleasure use or commuting – Driving more miles each year the higher your rates will be. Almost all companies charge to insure your cars based upon how you use the vehicle. Cars and trucks not used for work or commuting can get a lower rate than those used for commuting. Having the wrong rating on your V50 may be wasting your money. Ask your agent if your car insurance coverage is rated on the proper vehicle usage, because it can save money.
  • Pay less if you’re married – Being married actually saves money on your car insurance policy. Having a significant other translates into being more mature and it’s statistically proven that married drivers get in fewer accidents.
  • High deductibles save money – Coverage for physical damage, termed comprehensive and collision coverage on your policy, is used to repair damage to your Volvo. A few examples of covered claims are collision with another vehicle, damage from fire, and burglary. Physical damage deductibles are how much you are willing to pay if you file a covered claim. The higher the amount you have to pay, the less your company will charge you for insurance on V50 insurance.
  • Rural vs Urban Areas – Living in small towns and rural areas can be a good thing when it comes to car insurance. Drivers in populated areas tend to have much more traffic and longer commute times. Less people living in that area means reduced accidents and also fewer theft and vandalism claims.
  • Your job and insurance rates – Occupations like lawyers, architects and financial analysts are shown to have higher average rates due to high stress and lengthy work days. Conversely, jobs such as pilots, engineers and the unemployed pay the least on V50 insurance.
  • Add-on coverages can add up – There are quite a few extra bells and whistles that you can get tricked into buying when buying car insurance. Insurance for rental car reimbursement, accidental death and term life insurance are examples of these. These coverages may sound good when talking to your agent, but if they’re wasting money eliminate the coverages to reduce your premium.
  • With age comes lower rates – Teenage drivers have a tendency to be careless and easily distracted in a vehicle so car insurance rates are higher. Mature drivers are more cautious drivers, file fewer claims and get fewer tickets.

When should I talk to an agent?

When choosing the best auto insurance coverage, there really is no best way to insure your cars. Coverage needs to be tailored to your specific needs.

Here are some questions about coverages that could help you determine if your situation may require specific advice.

  • Am I covered when driving in Canada or Mexico?
  • When does my teenage driver need to be added to my policy?
  • Do I have any recourse if my insurance company denies a claim?
  • Am I covered when driving on a suspended license?
  • Why do I only qualify for high-risk insurance?
  • When should I not file a claim?
  • Are split liability limits better than a combined single limit?

If you’re not sure about those questions but one or more may apply to you, you might consider talking to an agent. To find lower rates from a local agent, take a second and complete this form.

Do drivers who switch really save?

Progressive, Allstate and Geico continually stream ads on television and other media. All the companies make the same claim about savings after switching to their company. How does each company claim to save you money? It’s all in the numbers.

All companies have a preferred profile for the right customer that makes them money. For example, a profitable customer might be profiled as a mature driver, a clean driving record, and drives less than 7,500 miles a year. A customer getting a price quote who fits that profile receives the best rates and most likely will save when switching.

Drivers who do not match the “perfect” profile will be quoted a more expensive rate which leads to business going elsewhere. Company advertisements say “people who switch” but not “drivers who get quotes” save that much money. That’s the way companies can truthfully claim big savings. This emphasizes why you need to get a wide range of price quotes. It’s just too difficult to predict which car insurance company will fit your personal profile best.

Specifics of your auto insurance policy

Learning about specific coverages of your auto insurance policy aids in choosing which coverages you need for your vehicles. The terms used in a policy can be ambiguous and nobody wants to actually read their policy.

Comprehensive coverage

This pays for damage OTHER than collision with another vehicle or object. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims such as theft, vandalism, damage from getting keyed, hitting a deer and damage from a tornado or hurricane. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Collision protection

Collision coverage pays for damage to your V50 resulting from a collision with another car or object. You have to pay a deductible then your collision coverage will kick in.

Collision can pay for claims like rolling your car, sustaining damage from a pot hole and crashing into a building. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are 8 years or older. It’s also possible to raise the deductible to save money on collision insurance.

Medical payments coverage and PIP

Med pay and PIP coverage reimburse you for expenses like surgery, nursing services, X-ray expenses, prosthetic devices and doctor visits. The coverages can be used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover both the driver and occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage

Uninsured/Underinsured Motorist coverage

This provides protection from other drivers when they are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries and damage to your Volvo V50.

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 very important.

Liability

This can cover damage that occurs to people or other property by causing an accident. This coverage protects you from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show liability limits of 50/100/50 that translate to $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property.

Liability coverage protects against things like emergency aid, repair costs for stationary objects, loss of income and bail bonds. How much liability should you purchase? That is up to you, but you should buy as high a limit as you can afford.

In any little way, save everyday

Discount 2008 Volvo V50 insurance is available from both online companies and with local insurance agents, and you need to comparison shop both to have the best selection. Some auto insurance companies do not offer online quoting and most of the time these regional insurance providers sell through independent agents.

We just presented some good ideas how you can reduce insurance prices online. It’s most important to understand that the more companies you get rates for, the higher your chance of finding lower rates. Consumers could even find that the lowest rates come from an unexpected company.

As you restructure your insurance plan, you should never skimp on critical coverages to save a buck or two. In many instances, someone dropped liability coverage limits only to discover later that it was a big mistake. Your aim should be to find the BEST coverage at a price you can afford while not skimping on critical coverages.

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