2005 Volvo V50 Car Insurance Cost – 5 Ideas for Best Prices

Looking for lower car insurance rates for your Volvo V50? If you’re trying to find lower-priced insurance, are you baffled by the dozens of car insurance providers? vehicle owners have so many options that it can turn into a real challenge to compare car insurance rates.

More affordable rates with these five insurance coverage discounts

Some insurance providers don’t always advertise their entire list of discounts very well, so the list below contains a few of the more well known as well as some of the hidden credits that you can use to lower your rates.

• Lower Rates for Military – Being deployed with a military unit could be rewarded with lower prices.
• Good Grades Discount – Getting good grades can be rewarded with saving of up to 25%. The good student discount can last up to age 25.
• Discounts for New Vehicles – Insuring a vehicle that is new can save up to 30% since new model year vehicles have better safety ratings.
• Discounts for Government Workers – Active or retired federal employment can earn a discount up to 10% on V50 coverage but check with your company.
• No Claim Discounts – Drivers with accident-free driving histories are rewarded with significantly better rates on car insurance quote when compared to frequent claim filers.

Please keep in mind that most of the big mark downs will not be given to the entire cost. Most only apply to the cost of specific coverages such as collision or personal injury protection. So when the math indicates you would end up receiving a 100% discount, insurance coverage companies aren’t that generous.

A few popular companies and the discounts they provide are outlined below.

• Farm Bureau policyholders can earn discounts including multi-policy, good student, safe driver, 55 and retired, driver training, and renewal discount.
• Liberty Mutual may include discounts for good student, multi-car, new graduate, multi-policy, exclusive group savings, safety features, and hybrid vehicle.
• State Farm offers discounts for safe vehicle, defensive driving training, multiple policy, accident-free, and good student.
• Auto-Owners Insurance may offer discounts for multi-policy, multiple vehicles, safe driver, paperless, group or association, and safe vehicle.
• Geico has savings for membership and employees, five-year accident-free, seat belt use, emergency military deployment, and defensive driver.
• SAFECO discounts include accident prevention training, multi-car, anti-theft, safe driver, teen safety rewards, and bundle discounts.

When quoting, ask all companies you are considering which discounts they offer. Discounts may not apply everywhere. If you would like to view insurance coverage companies that offer the discounts shown above, follow this link.

Insurance coverage can get complicated

When it comes to choosing coverage for your personal vehicles, there really is no “perfect” insurance plan. Each situation is unique.

For example, these questions could help you determine if you might need an agent’s assistance.

• Do I need special endorsements for business use of my vehicle?
• Can I make deliveries for my home business?
• What discounts do I qualify for?
• When do I need to add a new car to my policy?
• Can I afford low physical damage deductibles?
• Will I be non-renewed for getting a DUI or other conviction?
• Can I pay claims out-of-pocket if I buy high deductibles?
• Are all vehicle passengers covered by medical payments coverage?
• Is my 2005 Volvo V50 covered for flood damage?
• What is high-risk coverage and where do I buy it?

If it’s difficult to answer those questions but you know they apply to you then you might want to talk to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form.

Information about specific coverages

Learning about specific coverages of your policy aids in choosing the right coverages and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and reading a policy is terribly boring.

Uninsured or underinsured coverage

This protects you and your vehicle’s occupants from other motorists when they either have no liability insurance or not enough. It can pay for injuries to you and your family and also any damage incurred to your Volvo V50.

Since a lot of drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is important protection for you and your family. Most of the time these limits are identical to your policy’s liability coverage.

Comprehensive protection

Comprehensive insurance covers damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay.

Comprehensive can pay for claims such as fire damage, damage from getting keyed, falling objects and hitting a deer. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Medical expense coverage

Med pay and PIP coverage reimburse you for short-term medical expenses such as prosthetic devices, rehabilitation expenses and dental work. They can be used in conjunction with a health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is not available in all states and may carry a deductible

Liability coverage

This provides protection from damage that occurs to other people or property. This coverage protects you against other people’s claims. It does not cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. As an example, you may have values 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 $50,000 of coverage for damaged propery. Another option is a combined single limit or CSL which provides one coverage limit without having the split limit caps.

Liability coverage protects against things like legal defense fees, repair bills for other people’s vehicles, bail bonds and structural damage. The amount of liability coverage you purchase is up to you, but you should buy as high a limit as you can afford.

Collision insurance

This will pay to fix damage to your V50 from colliding with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision can pay for things such as crashing into a building, colliding with another moving vehicle, hitting a mailbox and rolling your car. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. Another option is to raise the deductible in order to get cheaper collision rates.

More quotes mean more savings

When buying insurance coverage, don’t be tempted to skimp on critical coverages to save a buck or two. In many instances, someone dropped collision coverage only to discover later that their decision to reduce coverage ended up costing them more. Your objective should be to buy the best coverage you can find at the best possible price.

We just covered many tips how you can get a better price on 2005 Volvo V50 insurance. The key concept to understand is the more providers you compare, the better your comparison will be. You may even find the best rates are with a small mutual company.

Insureds who switch companies do it for many reasons like policy cancellation, an unsatisfactory settlement offer, delays in responding to claim requests or extreme rates for teen drivers. Whatever your reason, finding the right insurance provider can be less work than you think.

More detailed insurance information can be read in the articles below:

• Protect Yourself Against Auto Theft (Insurance Information Insitute)
• Teen Driving Statistics (iihs.org)
• Tread Depth and Tire Safety (State Farm)
• Auto Crash Statistics (Insurance Information Insitute)
• Understanding Car Crashes Video (iihs.org)
• What is a Telematics Device? (Allstate)