Lower Your 2001 Volvo S60 Car Insurance Rates

Comparing and finding cheap rates for Driversinsurance can seem to be slightly frustrating for drivers not familiar with online comparison shopping. Consumers have so many different companies and agents to choose from that it can easily become a challenge to compare prices.

Shopping for more affordable auto insurance coverage can be fairly easy. Basically, anyone who is shopping for auto insurance most likely will be able to reduce their rates. But vehicle owners must know how big insurance companies price online insurance and use this information to your advantage.

More discounts mean lower-cost premiums

Some insurance providers don’t always publicize every disount available very clearly, so we took the time to find some of the more common and also the more inconspicuous discounts that may be available. If you’re not getting every credit you qualify for, you could be getting lower rates.

• Savings for New Vehicles – Buying a new car instead of a used car may earn a small discount since newer vehicles have better safety ratings.
• Bundled Policy Discount – When you combine your auto and home insurance with one company you could save 10% to 20% off each policy.
• Lower Rates for Military – Having a family member in the military can result in better rates.
• Discount for Home Ownership – Just owning your own home can get you a discount since owning and maintaining a home requires a higher level of personal finance.
• Accident Forgiveness – Not a discount per se, but companies like State Farm and Progressive will forgive one accident without raising rates with the catch being you have to be claim-free before the accident.
• Responsible Driver Discount – Drivers without accidents may save up to 50% more on S60 insurance than drivers with accident claims.
• Anti-lock Brakes – Cars and trucks that have steering control and anti-lock brakes prevent accidents and will save you 10% or more.
• Good Student Discount – Being a good student can be rewarded with saving of up to 25%. Earning this discount can benefit you up to age 25.

As a disclaimer on discounts, some credits don’t apply to the entire cost. Some only reduce individual premiums such as liability and collision coverage. So despite the fact that it appears you would end up receiving a 100% discount, companies don’t profit that way. Any qualifying discounts will bring down your overall premium however.

To view auto insurance companies that offer some of these discounts, click this link.

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Six tips to get cheap insurance rates

Many things are considered when you quote your car insurance policy. Some of the criteria are obvious such as your driving history, although some other factors are more obscure like your continuous coverage or your commute time.Smart consumers have a good feel for the rating factors that help determine your policy premiums. If you have a feel for what determines premiums, this enables you to make decisions that could help you find better car insurance rates.

• Better drivers pay less – Drivers who don’t get tickets get better rates as compared to careless drivers. Even a single chargable violation can bump up the cost substantially. Drivers who have received flagrant tickets like DWI, reckless driving or hit and run convictions might be required by their state to complete a SR-22 with their state in order to drive a vehicle legally.
• Where do you drive? – Driving a lot of miles in a year the more it will cost to insure it. Most companies charge to insure your cars based on how the vehicle is used. Vehicles left parked in the garage can get a lower rate than vehicles that are driven to work every day. Having an incorrect usage rating on your S60 may be costing you higher rates. It’s a smart idea to ensure your car insurance policy states the correct driver usage.
• Pay more out-of-pocket – Protection for physical damage, termed comprehensive and collision coverage on your policy, protects your Volvo from damage. Some examples of claims that would be covered could be running into the backend of another car, hail damage, and damage caused by flying debris. Physical damage deductibles are how much you are willing to pay before a claim is paid by your company. The higher the amount you pay before a claim is paid (deductible), the less money you will pay for car insurance on S60 insurance.
• Mature drivers are lower risk – Older drivers tend to be more responsible, cause fewer claims and accidents and get fewer tickets.Teenage drivers are proven to be less responsible when behind the wheel so they pay higher car insurance rates.
• Where you live – Choosing to live in less populated areas has definite advantages when buying car insurance. Less people means a lower chance of having an accident and also fewer theft and vandalism claims. People who live in big cities tend to have more auto accidents and a longer drive to work. More time behind the wheel means more chance of being in an accident.
• Married people drive safer – Getting married may cut your premiums on your policy. Having a significant other usually means you are more mature and insurance companies like that married drivers tend to have fewer serious accidents.

It’s not one size fits all

When it comes to choosing adequate coverage for your personal vehicles, there is no “best” method to buy coverage. Each situation is unique.

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

• What should my uninsured motorist coverage limits be in my state?
• If my pet gets injured in an accident are they covered?
• Does my 2001 Volvo S60 need full coverage?
• Do I have newly-aquired coverage?
• Is my business laptop covered if it gets stolen from my vehicle?
• Does my personal policy cover me when driving out-of-state?
• Can my teen driver be rated on a liability-only vehicle?
• How do I file an SR-22 for a DUI in my state?
• Is my babysitter covered when using my vehicle?
• Why am I required to buy liability insurance?

If you’re not sure about those questions but you know they apply to you, you may need to chat with an insurance agent. To find an agent in your area, simply complete this short form.

Smaller companies may have the best rates

Respected companies like Allstate and Progressive seem to constantly run television, radio, and online ads. They all advertise claims that you’ll save big if you move your car insurance coverage to their company. Is it even possible that every company can give you a better price? This is the trick they use.

Insurance providers are able to cherry pick for the type of driver that earns them a profit. For instance, a preferred risk could be between 25 and 40, has never had a claim, and drives newer vehicles. A propective insured who fits those characteristics may get the lowest rates and will save money with a new company.

Potential customers who do not fit those criteria will probably be forced to pay a higher premium and this results in the prospect going elsewhere. Company advertisements say “drivers that switch” not “everyone that quotes” save that much when switching. This is how companies can make the claims of big savings.

That is why it is so important to compare free insurance coverage quotes often. It is just not possible to predict the company that will have better auto insurance rates than you’re paying now.

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Parts of your insurance policy

Having a good grasp of your policy helps when choosing appropriate coverage for your vehicles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording.

Collision coverage – Collision coverage pays for damage to your S60 caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims like colliding with another moving vehicle, scraping a guard rail, hitting a parking meter and sideswiping another vehicle. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also increase the deductible to bring the cost down.

Uninsured and underinsured coverage – Uninsured or Underinsured Motorist coverage provides protection when the “other guys” are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries and also any damage incurred to your Volvo S60.

Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Normally these coverages are similar to your liability insurance amounts.

Liability coverage – This coverage provides protection from damages or injuries you inflict on other’s property or people in an accident. This coverage protects you from legal claims by others, and does not provide coverage for damage to your own property or vehicle.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 100/300/100 which means $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and property damage coverage for $100,000. Another option is one number which is a combined single limit which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability coverage pays for things like medical expenses, repair costs for stationary objects and court costs. How much coverage you buy is a personal decision, but you should buy as large an amount as possible.

Comprehensive coverages – Comprehensive insurance covers damage that is not covered by collision coverage. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things such as damage from flooding, rock chips in glass, fire damage, theft and damage from getting keyed. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Coverage for medical payments – Personal Injury Protection (PIP) and medical payments coverage pay for bills like ambulance fees, prosthetic devices, chiropractic care, doctor visits and pain medications. They are often used in conjunction with a health insurance program or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants and will also cover if you are hit as a while walking down the street. Personal Injury Protection is not universally available and may carry a deductible

Feed the piggy bank

You just read many ways to shop for 2001 Volvo S60 insurance online. The key thing to remember is the more providers you compare, the better your chances of lowering your rates. You may be surprised to find that the lowest prices are with some of the lesser-known companies.

When trying to cut insurance costs, make sure you don’t skimp on coverage in order to save money. There are a lot of situations where someone dropped full coverage only to discover later that it was a big mistake. Your aim should be to buy the best coverage you can find for the lowest price, but do not skimp to save money.

Drivers switch companies for a number of reasons such as extreme rates for teen drivers, being labeled a high risk driver, high prices and even denial of a claim. Regardless of your reason, finding a new company can be easier than you think.

Additional information is available on the following sites:

• Collision Insurance Coverage (Nationwide)
• Auto Theft Statistics (Insurance Information Insitute)
• Auto Insurance FAQ (Farmers Insurance)
• Collision Coverage (Liberty Mutual)
• Teen Driver Licensing Information (iihs.org)
• How to Avoid Common Accidents (State Farm)

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