Have you had enough of paying out the nose to insure your Volvo every month? You are no different than many other drivers.
Lots of car insurance companies contend for your insurance dollar, so it’s not easy to compare every insurer to get the lowest rate
You should take the time to get comparison quotes yearly since rates are rarely the same from one policy term to another. If you had the best price for S40 insurance two years ago you can probably find a lower rate today. Forget anything you know (or think you know) about auto insurance because you’re about to learn how to quote online to eliminate unnecessary coverages and save money.
If you currently have a car insurance policy, you will be able to cut costs considerably using these tips. Finding the best rates is not rocket science. Although vehicle owners can benefit from knowing the way companies determine prices and apply this information to your search.
Volvo S40 insurance rates have many determining factors
Consumers need to have an understanding of the factors that play a part in calculating your auto insurance rates. Understanding what influences your rates empowers consumers to make smart changes that can help you get much lower annual insurance costs.
- Women pay lower rates – Statistics have proven that men are more aggressive behind the wheel. However, this does not mean men are WORSE drivers than women. Both sexes cause 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. Youthful male drivers are several times more likely to be in an accident and are penalized with high auto insurance rates.
- Where you reside plays a part – Living in small towns and rural areas is a positive aspect when it comes to auto insurance. City drivers have to deal with more traffic problems and a longer drive to work. Lower population means fewer accidents.
- Pay less after the wedding – Being married can actually save you money on your auto insurance policy. It is viewed as being more mature and responsible and it’s proven that married drivers get in fewer accidents.
- Type of vehicle determines base rates – The make and model of the vehicle you are buying insurance for makes a big difference in how high your rates are. The lowest rates are generally reserved for small economy passenger cars, but other factors influence the final cost greatly. Due to the fact that the Volvo S40 is considered a compact car, insuring your vehicle will cost the same to a little lower than the average rate where you live.
- Lower deductibles cost more – Your deductibles define the amount you are willing to pay out-of-pocket before your auto insurance pays a claim. Physical damage insurance, otherwise known as comp (or other than collision) and collision, insures against damage to your car. Some instances where coverage would apply are running into the backend of another car, damage from fire, and rolling your vehicle. The more you are required to pay out-of-pocket, the less your auto insurance will be for S40 insurance.
- You might want pay the small claims yourself – Companies award cheaper rates to people who do not rely on their insurance for small claims. If you frequently file small claims, you can definitely plan on either higher rates or even cancellation. Insurance coverage is designed for the bigger claims that can’t be paid out-of-pocket.
- Safer occupants lowers premiums – Safer cars tend to have better insurance rates. These vehicles reduce injuries and fewer injuries means lower claim amounts and thus lower rates. If the Volvo S40 scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you are probably receiving a discount.
Save big with these discounts
Insuring your vehicles can cost a lot, but there could be available discounts that you may not even be aware of. Some trigger automatically when you complete an application, but some must be asked for before you will receive the discount.
- Memberships – Being a member of a civic or occupational organization may earn a discount when buying auto insurance for S40 insurance.
- New Vehicle Savings – Putting insurance coverage on a new car can cost up to 25% less compared to insuring an older model.
- Claim Free – Drivers who don’t have accidents can save substantially as compared to frequent claim filers.
- Anti-lock Brakes – Vehicles with anti-lock braking systems can reduce accidents and will save you 10% or more.
- Student in College – Kids in college who attend school more than 100 miles from home without a vehicle on campus can receive lower rates.
- Safe Drivers – Drivers who avoid accidents may save up to 50% more for S40 insurance than their less cautious counterparts.
- Auto/Home Discount – If you insure your home and vehicles with one company you may earn up to 20% off your total premium.
A little note about advertised discounts, most discount credits are not given to the overall cost of the policy. Some only apply to the price of certain insurance coverages like physical damage coverage or medical payments. So when it seems like adding up those discounts means a free policy, you won’t be that lucky. But all discounts will reduce the amount you have to pay.
For a list of providers who offer auto insurance discounts, click here.
Do drivers who switch really save?
State Farm and Allstate consistently run ads on TV and radio. All the companies have a common claim about savings if you change to their company. How can each company make the same claim?
Different companies have a preferred profile for the right customer that makes them money. An example of a preferred risk could possibly be between the ages of 40 and 55, insures multiple vehicles, and has a short commute. A customer getting a price quote who meets those qualifications will get the preferred rates and most likely will save quite a bit of money when switching.
Potential insureds who fall outside the “perfect” profile will be charged more money and this can result in business going elsewhere. The ads state “customers who switch” but not “drivers who get quotes” save that much money. That’s why insurance companies can state the savings.
That is why it is so important to get as many quotes as possible. Because you never know which auto insurance company will have the lowest rates.
Smart consumers save more
When shopping online for auto insurance, don’t be tempted to reduce needed coverages to save money. Too many times, an insured dropped comprehensive coverage or liability limits only to regret that it was a big mistake. Your goal should be to purchase plenty of coverage for the lowest price while still protecting your assets.
We covered a lot of information how to get a better price on Volvo S40 insurance. The most important thing to understand is the more price quotes you have, the higher your chance of finding lower rates. You may even find the lowest premiums are with a smaller regional carrier. Some small companies may have significantly lower rates on certain market segments than the large multi-state companies such as Progressive and GEICO.
