2002 Volvo S60 Insurance Rates

Overwhelmed by the wide range of insurance coverage sources available to you? Many other drivers are as well. Consumers have so many choices that it can be a real hassle to lower your prices.

Why your insurance costs might be higher

Many factors are considered when you get a price on insurance. Most are fairly basic like an MVR report, although some other factors are not as apparent like where you live or your vehicle rating.

The list below includes some of the things used by companies to determine your prices.

• Avoid auto insurance lapses – Driving without insurance coverage in place is a big no-no and auto insurance companies will penalize you for letting your coverage have a gap. Not only will you pay higher rates, the inability to provide proof of insurance may result in fines and jail time.
• Liability insurance limits on your policy – The liability section of your policy will provide protection in the event that a jury decides you are liable for personal injury or accident damage. This coverage provides you with a defense in court to defend your case. Carrying liability coverage is mandatory and cheap compared to comp and collision, so insureds should have plenty of protection for their assets.
• Married drivers pay less – Your spouse may earn you lower rates on your policy. Having a spouse usually means you are more mature and insurance companies reward insureds because married drivers tend to file fewer claims.
• Rates increase with driving citations – Being a careful driver impacts premiums far more than you think. Careful drivers have lower premiums as compared to careless drivers. Having just one chargable violation could increase your next policy renewal to the point where it’s not affordable. Drivers with flagrant violations such as reckless driving or DUI may need to maintain a SR-22 with their state motor vehicle department in order to legally drive a vehicle.
• Premiums are affected by your address – Residing in areas with lower population is a positive aspect when shopping for auto insurance. People who live in big cities regularly have more traffic problems and a longer drive to work. Less people means less chance of accidents as well as less vandalism and auto theft.
• Lower deductibles cost more – The deductibles you choose tell how much the insured will be required to pay if you file a covered claim. Protection for physical damage, aka comp and collision, protects your car from damage. A few examples of covered claims are rearending another vehicle, vandalism, and having a roll-over accident. The more money you choose to pay out-of-pocket, the better rate you will receive for S60 coverage.

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Discounts can really help save money

Car insurance companies don’t always publicize the entire discount list very clearly, so the next list breaks down some of the more common in addition to some of the lesser obvious credits that you can use to lower your rates.

• Theft Prevention Discount – Cars, trucks, and SUVs equipped with tracking devices and advanced anti-theft systems prevent vehicle theft and earn discounts up to 10% off your car insurance quote.
• Low Miles Discount – Low annual miles may allow you to get cheaper rates.
• Passive Restraints – Vehicles with factory air bags and/or automatic seat belt systems could see savings up to 30%.
• Switch and Save Discount – Some larger companies reward drivers for signing up prior to your current policy expiration. Ten percent is about the average savings.
• Multiple Policy Discount – If you combine your homeowners and auto policies with one insurance company you will save as much as 10 to 15 percent.

Discounts reduce rates, but you should keep in mind that most discount credits are not given to the entire policy premium. Most only apply to the price of certain insurance coverages like comprehensive or collision. So despite the fact that it appears you could get a free insurance policy, it doesn’t quite work that way.

To locate insurers that offer discounts, click here to view.

Be skeptical of auto insurance ads

State Farm, Allstate and Geico seem to constantly run ads on TV and radio. They all seem to advertise claims of big savings if you move your policy. How is it possible that every company can charge you less for car insurance? It’s all in the numbers.

All companies have a certain “appetite” for the type of driver that earns them the highest profit. One example of a preferred risk might be described as over the age of 35, carries full coverage, and drives a safe vehicle. Any person that hits that “sweet spot” may get the lowest prices and will most likely save quite a bit of money when switching.

Consumers who don’t qualify for those standards will have to pay higher premium rates which usually ends up with the prospect going elsewhere. If you listen to the ad wording, they say “customers that switch” not “everyone who quotes” save the amount stated. That’s why companies can truthfully make claims that they all have the best car insurance rates. Each company has different criteria, so you absolutely need to get car insurance quotes from several different companies. Because you cannot predict which insurance companies will have the best rates at this point in time.

Will just any policy work for me?

When buying coverage, there really is not a single plan that fits everyone. Your needs are not the same as everyone else’s.

For instance, these questions may help you determine if your insurance needs might need professional guidance.

• Does coverage extend to Mexico or Canada?
• How can I force my company to pay a claim?
• Does my insurance cover a custom paint job?
• Should I buy additional glass protection?
• Am I covered when delivering products for my home-based business?
• Does having multiple vehicles earn me a discount?

If you’re not sure about those questions, you might consider talking to an agent. To find an agent in your area, fill out this quick form.

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Specific coverage details

Understanding the coverages of your auto insurance policy helps when choosing appropriate coverage at the best deductibles and correct limits. Auto insurance terms can be impossible to understand and reading a policy is terribly boring.

Medical costs insurance – Medical payments and Personal Injury Protection insurance kick in for bills such as nursing services, funeral costs, ambulance fees and EMT expenses. They are used in conjunction with a 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 and also covers any family member struck as a pedestrian. PIP coverage is not available in all states but can be used in place of medical payments coverage

Liability insurance – This coverage can cover injuries or damage you cause to a person or their property by causing an accident. This insurance protects YOU from legal claims by others, and does not provide coverage for your injuries or vehicle damage.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have liability limits of 50/100/50 which stand for $50,000 bodily injury coverage, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property.

Liability can pay for claims like funeral expenses, medical services, medical expenses and legal defense fees. How much liability coverage do you need? That is your choice, but consider buying as high a limit as you can afford.

UM/UIM Coverage – Your UM/UIM coverage gives you protection when the “other guys” are uninsured or don’t have enough coverage. Covered losses include hospital bills for your injuries as well as damage to your Volvo S60.

Since many drivers carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea.

Comprehensive or Other Than Collision – Comprehensive insurance will pay to fix damage that is not covered by collision coverage. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers claims such as a tree branch falling on your vehicle, damage from flooding and a broken windshield. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Collision – Collision coverage pays to fix your vehicle from damage resulting from a collision 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 coverage protects against claims such as rolling your car, driving through your garage door, crashing into a ditch and scraping a guard rail. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are older. You can also choose a higher deductible to bring the cost down.

Never pay more for less

We just presented a lot of information how to shop for 2002 Volvo S60 insurance online. The key concept to understand is the more times you quote, the better chance you’ll have of finding affordable car insurance. You may even find the best price on insurance coverage is with a company that doesn’t do a lot of advertising.

Insureds who switch companies do it for a variety of reasons including policy non-renewal, being labeled a high risk driver, extreme rates for teen drivers or even delays in paying claims. It doesn’t matter what your reason, finding a great new company is not as difficult as it may seem.

As you prepare to switch companies, don’t be tempted to reduce needed coverages to save money. There are many occasions where an insured cut liability limits or collision coverage only to discover later that their decision to reduce coverage ended up costing them more. Your goal is to purchase a proper amount of coverage at the best price, but don’t skip important coverages to save money.

Helpful information

• If I File a Claim will My Insurance Go Up? (Insurance Information Insitute)
• Side Impact Crash Tests (iihs.org)
• Young Drivers: The High Risk Years Video (iihs.org)
• What Determines the Price of My Auto Insurance Policy? (Insurance Information Insitute)
• Can I Drive Legally without Insurance? (Insurance Information Insitute)
• Get the Right Protection (InsureUonline.org)

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