Cheaper 1998 Volvo S70 Insurance Rates

Have you had enough of robbing Peter to pay Paul to insure your Volvo every month? Your situation is no different than most other car owners.

Many car insurance companies compete to insure your vehicles, so it’s not easy to compare every insurer and get the best coverage at the lowest rate

It’s a great practice to get comparison quotes periodically because prices change frequently. Despite the fact that you may have had the best price for S70 insurance a few years ago you may be paying too much now. So just forget all the misinformation about auto insurance because you’re going to learn the quickest way to save on auto insurance.

If you are paying for car insurance now, you will most likely be able to lower your premiums substantially using these techniques. Finding affordable coverage is easy if you know what you’re doing. But drivers can benefit by having an understanding of how the larger insurance companies compete online and use this information to your advantage.

The best way to get rate comparisons is to realize most of the bigger providers have advanced systems to give free rates quotes. All consumers are required to do is provide a little information including what you do for a living, the type of vehicles you drive, marital status, and your credit rating estimate. Your rating data is sent automatically to multiple top-rated companies and you receive quotes immediately.

To find the cheapest 1998 Volvo S70 insurance rates, click here and complete the quick form.

Discounts are great for lower rates

Companies offering auto insurance don’t always list all their discounts very well, so we researched both the well known as well as the least known discounts you could be receiving.

  • Discounts for Safe Drivers – Safe drivers can get discounts for up to 45% lower rates for S70 insurance than drivers with accident claims.
  • Accident Waiver – A few companies will forgive one accident before raising your premiums if you are claim-free for a certain period of time.
  • Fewer Miles Equal More Savings – Fewer annual miles on your Volvo can earn discounted rates on garaged vehicles.
  • Resident Student – Any of your kids living away from home attending college and do not have access to a covered vehicle may be able to be covered for less.
  • Theft Prevention Discount – Anti-theft and alarm systems prevent vehicle theft and qualify for as much as a 10% discount.
  • Discount for Swiching Early – Select companies give a discount for signing up prior to your current policy expiration. The savings is around 10%.

Keep in mind that some credits don’t apply to the entire policy premium. A few only apply to individual premiums such as medical payments or collision. Just because it seems like all the discounts add up to a free policy, companies wouldn’t make money that way.

A partial list of companies that may have these money-saving discounts may include but are not limited to:

Before buying, ask each insurance company which discounts they offer. Discounts might not apply in your state.

Why your Volvo S70 insurance rates may be high

Consumers need to have an understanding of the different types of things that come into play when calculating the rates you pay for insurance. Understanding what controls the rates you pay allows you to make educated decisions that can help you get much lower annual insurance costs.

The list below includes some of the factors companies use to determine your rates.

  • Frequent insurance claims increase rates – Companies give better rates to insureds who file claims infrequently. If you file claims often, you can pretty much guarantee higher rates. Insurance coverage is intended to be relied upon for larger claims.
  • Your job and insurance rates – Did you know that where you work can have an impact on rates? Occupations such as real estate brokers, architects and financial analysts tend to have higher average rates attributed to high stress levels and long work days. Conversely, professions such as farmers, engineers and homemakers receive lower rates for S70 insurance.
  • Your spouse saves you money – Having a spouse helps lower the price when buying insurance. Having a significant other means you’re more mature and it’s proven that married drivers get in fewer accidents.
  • Policy add-ons can waste money – There are quite a few additional coverages that you can get tricked into buying if you aren’t careful. Coverages like personal injury protection, accidental death and additional equipment coverage may be wasting your money. They may seem good initially, but now you might not need them so get rid of them and save.
  • Younger drivers pay higher rates – Young drivers are statistically proven to be more careless behind the wheel so insurance rates are higher. Having to add a teen driver to your policy can break the bank. Older drivers are viewed as being more responsible, tend to file fewer claims and tend to be better behind the wheel.
  • Where you live can impact rates – Residing in a small town has it’s advantages when buying insurance. Fewer drivers means fewer accidents and a lower car theft rate. City drivers tend to have congested traffic and longer commutes to work. Longer commute distances means higher likelihood of an accident.
  • Poor driving leads to higher costs – Good drivers tend to pay less for car insurance compared to drivers with tickets. Even a single speeding ticket can increase rates by as much as thirty percent. If you have flagrant violations like DWI, reckless driving or hit and run convictions may find they need to file a SR-22 to the state department of motor vehicles in order to keep their license.
  • High credit ratings translate to low rates – Your credit score is a important factor in your rate calculation. Consumers who have excellent credit tend to be less risk to insure than those with lower ratings. If your credit history is low, you could potentially save money when insuring your 1998 Volvo S70 by spending a little time repairing your credit.

You may need specialized coverage

When it comes to buying coverage, there really is no single plan that fits everyone. Everyone’s needs are different so your insurance needs to address that. Here are some questions about coverages that may help highlight if you might need professional guidance.

  • Do I need higher collision deductibles?
  • Which companies will insure high-risk drivers?
  • Where can I get insurance after a DUI in my state?
  • Do I need PIP (personal injury protection) coverage in my state?
  • What is high-risk coverage and where do I buy it?
  • Can I rent a car in Mexico?
  • Is my babysitter covered when using my vehicle?
  • Is my custom paint covered by insurance?
  • What can I do if my company won’t pay a claim?
  • Can I afford to buy a different vehicle if my 1998 Volvo S70 is totaled?

If it’s difficult to answer those questions, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form or you can go here for a list of companies in your area.

Auto insurance policy coverages for a Volvo S70

Having a good grasp of auto insurance can help you determine appropriate coverage for your vehicles. Policy terminology can be confusing and even agents have difficulty translating policy wording. Below you’ll find typical coverage types available from auto insurance companies.

Collision insurance

Collision insurance covers damage to your S70 resulting from colliding with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for things such as backing into a parked car, colliding with a tree and driving through your garage door. This coverage can be expensive, so you might think about dropping it from lower value vehicles. Another option is to bump up the deductible to get cheaper collision coverage.

Medical costs insurance

Med pay and PIP coverage kick in for short-term medical expenses for nursing services, dental work, prosthetic devices and funeral costs. The coverages can be used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. Coverage applies to both the driver and occupants and also covers if you are hit as a while walking down the street. PIP coverage is not available in all states but can be used in place of medical payments coverage

Comprehensive or Other Than Collision

Comprehensive insurance coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive can pay for things such as fire damage, rock chips in glass, theft and a tree branch falling on your vehicle. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

UM/UIM Coverage

This gives you protection from other motorists when they do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your Volvo S70.

Because many people only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is very important.

Coverage for liability

This coverage protects you from damages or injuries you inflict on people or other property by causing an accident. It protects YOU from claims by other people, and does not provide coverage for your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show values of 100/300/100 that translate to a $100,000 limit per person for injuries, $300,000 for the entire accident, and $100,000 of coverage for damaged propery.

Liability insurance covers things such as repair costs for stationary objects, pain and suffering and attorney fees. How much liability coverage do you need? That is a personal decision, but you should buy higher limits if possible.

A tidy conclusion

We just presented many ideas to reduce 1998 Volvo S70 insurance prices online. The most important thing to understand is the more price quotes you have, the better chance you’ll have of finding lower rates. You may be surprised to find that the best prices are with a lesser-known regional company. They can often provide lower rates in certain areas than the large multi-state companies such as Allstate or State Farm.

Discount insurance can be bought from both online companies in addition to many insurance agents, so compare prices from both to get a complete price analysis. A few companies do not provide online price quotes and most of the time these regional insurance providers sell through independent agents.

As you restructure your insurance plan, it’s a bad idea to buy lower coverage limits just to save a few bucks. In many cases, someone dropped full coverage only to regret that saving that couple of dollars actually costed them tens of thousands. The aim is to buy the best coverage you can find for the lowest price while not skimping on critical coverages.

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