2003 Volvo S60 Insurance Quotes – 6 Discounts for Best Rates

There isn’t anyone who is fond of buying insurance coverage, especially when they are aware that they could find lower prices if they just compared rates. Because there are so many online and local companies to choose from, it can be challenging to locate the most affordable insurer.

Pricing the cheapest insurance coverage is easy if you know what you’re doing. If you have a current insurance policy or are looking for a new policy, you can use this information to find better prices and still get good coverage. Drivers just need to know how to compare prices over the internet.

Six discounts for cheaper car insurance rates

Companies offering auto insurance don’t always advertise all disounts in an easy-to-find place, so the below list has both the well known and also the lesser-known credits available to you.

• Payment Discounts – By paying your entire bill at once instead of paying each month you may have a lower total premium amount.
• Driver Education Discount – Have your child sucessfully take a drivers education course if offered at their school.
• No Claim Discounts – Claim-free drivers have much lower rates in comparison with bad drivers.
• Resident Student – College-age children who are attending college and leave their car at home could get you a discount.
• Anti-lock Brakes – Vehicles that have anti-lock braking systems are much safer to drive and therefore earn up to a 10% discount.
• Seat Belt Discounts – Requiring all passengers to use a seat belt may be able to save a few bucks off the PIP or medical payment premium.

Discounts reduce rates, but you should keep in mind that most of the big mark downs will not be given to the entire policy premium. The majority will only reduce the price of certain insurance coverages like collision or personal injury protection. Just because it seems like all those discounts means the company will pay you, it just doesn’t work that way.

Car insurance companies that have some of the above discounts may include but are not limited to:

• Geico
• SAFECO
• State Farm
• MetLife
• 21st Century
• Progressive

Double check with every insurance company what discounts are available to you. Some credits might not be offered on policies in your area. If you would like to choose from a list of car insurance companies that offer multiple discounts, click this link.

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You may need specialized insurance coverage

When choosing the best insurance coverage for your personal vehicles, there really is no “perfect” insurance plan. Every situation is different so your insurance needs to address that. For example, these questions may help highlight whether your personal situation will benefit from professional help.

• Can I afford to buy a different vehicle if my 2003 Volvo S60 is totaled?
• What if I owe more than I can insure my car for?
• Is my teenager covered with friends in the car?
• When would I need additional glass coverage?
• Is my Volvo S60 covered if I use it for business?
• Am I covered if hit by an uninsured driver?
• Should I carry comprehensive and collision coverage?
• Do I need medical payments coverage since I have good health insurance?

If you can’t answer these questions but you know they apply to you then you might want to talk to an agent. If you don’t have a local agent, complete this form or click here for a list of insurance companies in your area. It only takes a few minutes and you can get the answers you need.

Auto insurance savings promises

Consumers constantly see and hear ads that claim the lowest premium rates from the likes of State Farm and Allstate. All the companies advertise the message about savings if you switch to their company.

It sounds good, but how can they all sell you cheaper insurance coverage? Here is the trick they use.

All companies look for specific characteristics for the type of customer that makes them money. For example, a profitable customer may need to be a mature driver, has never had a policy lapse, and drives a car with an anti-theft system. Any driver that fits those parameters will probably get the lowest rates and as a result will probably save when they switch companies.

Consumers who do not meet this ideal profile will probably be forced to pay more expensive rates and this results in the prospect going elsewhere. If you listen closely, the ads state “drivers who switch” but not “everyone who gets a quote” save that much. This is how companies can truthfully make claims that they all have the best prices.

Because each company has a different risk profile, you need to do a rate comparison at every renewal. Because you never know with any certainty which company will provide the lowest premium rates.

Parts of your insurance policy

Learning about specific coverages of a insurance policy can help you determine which coverages you need and proper limits and deductibles. Policy terminology can be confusing and reading a policy is terribly boring. These are typical coverage types found on the average insurance policy.

Protection from uninsured/underinsured drivers – Uninsured or Underinsured Motorist coverage provides protection when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants as well as damage to your Volvo S60.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Usually the UM/UIM limits do not exceed the liability coverage limits.

Comprehensive (Other than Collision) – Comprehensive insurance coverage will pay to fix damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims such as falling objects, fire damage, hitting a deer and hitting a bird. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Collision coverages – Collision insurance will pay to fix damage to your S60 resulting from colliding with another vehicle or an object, but not an animal. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things such as driving through your garage door, hitting a mailbox and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. You can also increase the deductible in order to get cheaper collision rates.

Medical expense insurance – Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses like dental work, ambulance fees and hospital visits. They are utilized in addition to your health insurance policy or if you do not have health coverage. They cover you and your occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage

Auto liability insurance – This coverage provides protection from injuries or damage you cause to other people or property by causing an accident. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 100/300/100 that means you have $100,000 bodily injury coverage, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property. Alternatively, you may have one number which is a combined single limit which provides one coverage limit rather than limiting it on a per person basis.

Liability coverage protects against claims like bail bonds, repair costs for stationary objects, funeral expenses, court costs and attorney fees. The amount of liability coverage you purchase is a decision to put some thought into, but buy higher limits if possible.

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Cheaper insurance is a realistic goal

Budget-friendly insurance coverage can be purchased both online as well as from independent agents, so you should be comparing quotes from both to have the best chance of lowering rates. There are still a few companies who do not provide the ability to get quotes online and most of the time these smaller companies only sell through independent insurance agencies.

As you restructure your insurance plan, don’t be tempted to buy less coverage just to save a little money. In many cases, someone dropped physical damage coverage and learned later that saving that couple of dollars actually costed them tens of thousands. The goal is to purchase a proper amount of coverage at an affordable rate but still have enough coverage for asset protection.

Even more information is available in these articles:

• Rental Reimbursement Coverage (Allstate)
• Distracted Driving (Insurance Information Insitute)
• How to Avoid Common Accidents (State Farm)
• Uninsured Motorist Statistics (Insurance Information Insitute)
• Red Light Cameras (State Farm)
• Eight Auto Insurance Myths (Insurance Information Insitute)

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