Buyers have a choice when searching for the lowest priced Volvo V50 insurance. They can either spend hours struggling with agents getting price quotes or use the internet to compare rates.
There are more efficient ways to buy auto insurance so we’re going to tell you the best way to price shop coverage on a Volvo and find the lowest price from both online companies and local agents.
The purpose of this post is to introduce you to the most effective way to quote insurance. If you currently have car insurance, you will most likely be able to save some money using this information. Drivers just need to know the most efficient way to buy auto insurance on the web.
Cut your auto insurance rates with these ten discounts
Some providers don’t always advertise all possible discounts in a way that’s easy to find, so here is a list some of the more common and the more hidden credits that may apply to you.
- Cautious Driver Discount – Drivers without accidents can save up to 40% or more on their for V50 insurance than their less cautious counterparts.
- Senior Citizen Discount – If you’re over the age of 55, you may be able to get lower premium rates for V50 insurance.
- Multiple Vehicles – Buying coverage for multiple vehicles with the same company qualifies for this discount.
- Life Insurance Discount – Some auto insurance companies give a lower premium rate if you buy life insurance from them.
- Homeowners Savings – Just being a homeowner can save you money because it requires a higher level of personal finance.
- Military Deployment Discount – Being on active duty in the military could be rewarded with lower prices.
- Telematics Discount – Drivers who elect to allow driving data submission to monitor driving patterns through the use of a telematics system such as Drivewise from Allstate or Snapshot from Progressive might get better premium rates as long as they are good drivers.
- Discounts for Seat Belt Usage – Forcing all vehicle occupants to wear their seat belts can save up to 10 percent (depending on the company) off the personal injury premium cost.
- Defensive Driver Discount – Completing a course that instructs on driving safety can save you 5% or more depending on where you live.
- Employee of Federal Government – Active or retired federal employment could provide a small rate reduction for V50 insurance depending on your auto insurance provider.
We need to note that most discount credits are not given to the entire policy premium. A few only apply to individual premiums such as comp or med pay. So even though they make it sound like adding up those discounts means a free policy, it’s just not the way it works. Any amount of discount should help lower the amount you have to pay.
Auto insurance companies that have some of the above discounts may include but are not limited to:
If you need , ask every insurance company to give you their best rates. A few discounts may not be available in your area.
Information about specific coverages
Learning about specific coverages of auto insurance can be of help when determining the best coverages and the correct deductibles and limits. The terms used in a policy can be impossible to understand and nobody wants to actually read their policy.
Liability auto insurance
Liability insurance will cover injuries or damage you cause to other’s property or people. It protects you against claims from other people, and doesn’t cover your injuries or vehicle damage.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 25/50/25 which means a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property. Another option is a combined limit which combines the three limits into one amount with no separate limits for injury or property damage.
Liability coverage pays for claims such as repair bills for other people’s vehicles, structural damage, funeral expenses and emergency aid. How much coverage you buy is a personal decision, but you should buy higher limits if possible.
Comprehensive coverage
Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things like a broken windshield, theft, hitting a deer, hitting a bird and damage from a tornado or hurricane. The highest amount a auto insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.
Medical payments coverage and PIP
Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses like pain medications, surgery, chiropractic care, funeral costs and nursing services. They are often used to fill the gap from your health insurance plan or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. PIP coverage is not available in all states but can be used in place of medical payments coverage
Uninsured/Underinsured Motorist coverage
Your UM/UIM coverage gives you protection from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family as well as your vehicle’s damage.
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. Most of the time your uninsured/underinsured motorist coverages are set the same as your liablity limits.
Collision protection
Collision coverage pays for damage to your V50 resulting from a collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.
Collision can pay for things such as scraping a guard rail, driving through your garage door, damaging your car on a curb and crashing into a ditch. This coverage can be expensive, so you might think about dropping it from older vehicles. Drivers also have the option to increase the deductible to get cheaper collision coverage.
Quote often and quote early
Cost effective Volvo V50 insurance can be found both online and from local agencies, and you need to price shop both so you have a total pricing picture. Some companies may not have online quoting and many times these small, regional companies only sell coverage through independent insurance agencies.
When getting , you should never buy less coverage just to save a little money. Too many times, drivers have reduced liability coverage limits only to regret at claim time that it was a big error on their part. Your goal should be to purchase plenty of coverage at a price you can afford, but do not sacrifice coverage to save money.
Consumers change insurance companies for a variety of reasons including policy non-renewal, denial of a claim, delays in responding to claim requests or unfair underwriting practices. Whatever your reason, switching auto insurance companies is not as hard as you think.
