Are you a victim of overpriced auto insurance? Trust us, there are a lot of people just like you who feel imprisoned by their auto insurance policy.
There is such a variety of insurance companies to purchase coverage from, and although it’s a good thing to have a selection, lots of choices makes it harder to compare rates and cut insurance costs.
How to Get Auto Insurance
The are a couple different ways of comparing rates and find the best price. The recommended way to find competitive Volvo 240 insurance rates is to get quotes online. This can be accomplished using a couple different methods.
- The fastest way to get quotes for comparison would be an industry-wide quote request form (click to open form in new window). This method keeps you from doing separate quotes to each individual auto insurance company. A single form will return quotes from several companies.
- A slightly less efficient method to find lower rates requires visiting the website for every company you want to comare and fill out their own quote form. For instance, let’s assume you want to compare USAA, Liberty Mutual and GEICO. To get each rate you have to spend time on each company’s site to enter your coverage information, which is why the first method is more popular. For a handy list of car insurance company links in your area, click here.
- The most time-consuming way to get comparison rates is to waste gas driving to different agent offices. Buying insurance online can eliminate the need for a local agent unless you want the trained guidance of a local agent. Drivers can comparison shop online and still use a local agent.
It’s up to you which method you use, but make sure you use exactly the same coverages and limits for each price quote. If you are comparing higher or lower deductibles it will be impossible to make a fair comparison for your Volvo 240. Quoting even small variations in coverages can result in a big premium difference. And when quoting auto insurance, remember that comparing more company’s prices will improve the odds of getting lower pricing.
Discounts are basically free money
The price of auto insurance can be rather high, but there could be available discounts to reduce the price significantly. Certain discounts will be applied at the time you complete a quote, but some must be asked for in order for you to get them.
- Safe Drivers – Drivers who avoid accidents can get discounts for up to 45% lower rates for 240 coverage than drivers with accidents.
- Theft Prevention Discount – Cars that have factory anti-theft systems are stolen less frequently and will save you 10% or more.
- Early Signing – Some insurance companies reward drivers for signing up prior to your current policy expiration. This can save 10% or more.
- Student Driver Training – Have your child successfully complete driver’s ed class if offered at their school.
- Homeowners Savings – Owning a home can help you save on auto insurance because maintaining a house is proof that your finances are in order.
- Senior Discount – Mature drivers can possibly qualify for a small decrease in premiums for 240 coverage.
- More Vehicles More Savings – Having multiple cars or trucks on one policy qualifies for this discount.
- Accident Waiver – A handful of insurance companies will forgive one accident before your rates go up if you are claim-free for a set time period.
A little note about advertised discounts, most discounts do not apply to your bottom line cost. Most only reduce specific coverage prices like liability and collision coverage. So when it seems like you can get free auto insurance, auto insurance companies aren’t that generous. But any discount will reduce the amount you have to pay.
Neighborhood insurance agents
Certain consumers just want to sit down with an agent. The biggest benefit of getting online price quotes is you can get the best rates but still work with a licensed agent. Supporting local insurance agencies is important especially in smaller rural communities.
After completing this form (opens in new window), the coverage information is submitted to local insurance agents who will compete to get your business. You don’t have to leave your house since price quotes are sent to your email. It doesn’t get any easier! It’s the lowest rates and work with a local agent.
Two types of auto insurance agents
When finding a good insurance agent, there are two different agency structures from which to choose. agents can either be independent (non-captive) or captive.
Independent Agents
Independent insurance agents do not work for one specific company but rather can write business amongst many companies depending on which coverage is best. If you are not satisfied with one company, they simply move the coverage in-house and you don’t have to find a new agent.
When comparison shopping, you should always get quotes from at least one independent agent for the best price selection.
Captive Agents
These agents can only place business with one company such as State Farm, AAA, Farmers Insurance or Allstate. They are unable to give you multiple price quotes so they are skilled at selling on more than just price. These agents are usually quite knowledgeable on their products and sales techniques and that can be a competitive advantage.
For a full directory of insurance agencies, visit this page.
Picking an auto insurance agent requires more thought than just the bottom line cost. Agents should be asked these questions:
- Do they review policy coverages at every renewal?
- Do the companies they represent have a solid financial rating?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Do they receive special compensation for putting your coverage with one company over another?
- Does the agency provide any after hours assistance?
After receiving good answers to all your questions as well as a affordable price, it’s possible that you found an insurance agency that meets your needs to adequately provide auto insurance.
Volvo 240 insurance rates have many determining factors
Consumers need to have an understanding of some of the elements that go into determining auto insurance rates. Understanding what impacts premium levels empowers consumers to make smart changes that could result in lower auto insurance prices.
- High numbers of claims are not good – Insurance companies award cheaper rates to people who do not rely on their insurance for small claims. If you frequently file small claims, you can pretty much guarantee either higher rates or even cancellation. Insurance coverage is intended to be relied upon for the large, substantial claims.
- Big city or small town – Being located in a rural area has it’s advantages when insuring your vehicles. Urban drivers regularly have congested traffic and longer commutes to work. Lower population means fewer accidents.
- Credit scores impact auto insurance rates – Your credit score is a large factor in your rate calculation. So if your credit history is lower than you’d like, you could be paying less to insure your Volvo 240 by improving your rating. People with excellent credit tend to be more responsible than those with poor credit.
- Having a spouse can save you money – Getting married actually saves money on auto insurance. It is viewed as being more mature and responsible and statistics show married drivers get in fewer accidents.
Switch companies and save? Really?
Auto insurance providers like GEICO, State Farm and Progressive consistently run ads on TV and radio. They all have a common claim that you can save if you change to their company. But how can every company claim to save you money?
Insurance companies have a certain “appetite” for the type of driver that is profitable for them. An example of a profitable customer might be profiled as over the age of 50, a clean driving record, and drives less than 7,500 miles a year. Any new insured that hits that “sweet spot” is entitled to the best price and therefore will cut their rates substantially.
Potential insureds who don’t measure up to the “perfect” profile must pay higher premiums which usually ends up with business not being written. The ads say “people who switch” not “people who quote” save that much money. That’s why companies can truthfully claim big savings.
This illustrates why you need to get as many comparisons as possible. You cannot predict which auto insurance company will fit your personal profile best.
Online plus local equals savings
When trying to cut insurance costs, you should never reduce needed coverages to save money. In too many instances, drivers have reduced physical damage coverage and learned later that the savings was not a smart move. The ultimate goal is to get the best coverage possible at an affordable rate while still protecting your assets.
The cheapest Volvo 240 insurance is definitely available on the web as well as from independent agents, so compare prices from both in order to have the best chance of saving money. A few companies don’t offer you the ability to get quotes online and many times these small insurance companies only sell through independent insurance agents.
