How Much Does 2002 Volvo V70 Insurance Cost?

Searching for the cheapest insurance for a Volvo V70 could be an all-consuming task, but you can follow our insurance buying tips to find lower rates.

There is a right way and a wrong way to shop for insurance so we’re going to tell you the absolute fastest way to price shop coverage for your Volvo and get the lowest price.

It’s a good habit to compare prices at least once a year since rates are rarely the same from one policy term to another. Just because you found the lowest rates for V70 insurance six months ago there is a good chance you can find better rates now. You’ll find quite a bit of inaccurate information about insurance on the internet, so we’re going to give you some great ideas on how to stop overpaying for insurance.

Finding affordable insurance coverage is simple if you know the tricks. If you have a current insurance coverage policy or are looking for a new policy, you can learn to find better prices while maximizing coverage. Consumers just need to learn the proper methods to compare rates over the internet.

Which Insurance Coverage is Cheapest?

Performing a rate comparison can take hours if you don’t understand the most efficient way to do it. You can spend your afternoon talking to insurance companies in your area, or you could save time and use the internet to maximize your effort.

Many of the larger companies are enrolled in a marketplace that allows shoppers to submit one quote, and each company can provide price quotes based on the submitted data. This eliminates the need for quote requests to every company.

To compare pricing click to open in new window.

One minor caviat to using this type of system is you are unable to specify which insurance companies to receive prices from. So if you prefer to choose specific providers to compare, we have assembled a list of companies who write insurance coverage in your area. Click to view list.

It doesn’t matter which method you choose, just make darn sure you compare exactly the same coverage information for each comparison quote. If the quotes have unequal deductibles or liability limits it’s impossible to decipher which rate is best.

Take discounts and save

Insurance can be prohibitively expensive, but discounts can save money and there are some available to reduce the price significantly. Certain discounts will be applied at the time of purchase, but a few must be specifically requested before being credited. If you don’t get every credit you deserve, you are paying more than you should be.

  • Claim Free – Claim-free drivers pay much less as compared to accident-prone drivers.
  • Own a Home – Being a homeowner may trigger a insurance coverage policy discount because maintaining a house requires personal responsibility.
  • Drivers Ed for Students – Have your child enroll in driver’s education if offered at their school.
  • Federal Government Employee – Employees or retirees of the government can earn a discount up to 10% for V70 insurance with a few insurance coverage companies.
  • Sign Online – Some insurance companies give back up to $50 for buying a policy and signing up on their website.
  • Club Memberships – Affiliation with a civic or occupational organization could qualify you for a break on insurance coverage for V70 insurance.
  • Passive Restraint Discount – Factory air bags can qualify for discounts of more than 20%.
  • Discount for Life Insurance – Select insurance companies reward you with better rates if you take out life insurance.
  • Good Students Pay Less – Getting good grades can save 20 to 25%. Earning this discount can benefit you well after school through age 25.
  • Lower Rates for Military – Having a deployed family member may qualify for rate reductions.

As a disclaimer on discounts, most discount credits are not given to the entire policy premium. Most only apply to the cost of specific coverages such as liability, collision or medical payments. Just because it seems like all those discounts means the company will pay you, companies wouldn’t make money that way. But all discounts will reduce your overall premium however.

Companies that possibly offer these money-saving discounts may include but are not limited to:

It’s a good idea to ask every prospective company what discounts are available to you. Discounts might not be offered everywhere.

Which policy gives me the best coverage?

When it comes to buying the right insurance coverage for your vehicles, there really is no cookie cutter policy. Every insured’s situation is different.

These are some specific questions can aid in determining if your insurance needs could use an agent’s help.

  • Should I buy additional glass protection?
  • What discounts do I qualify for?
  • Should I drop comprehensive coverage on older vehicles?
  • Do I really need UM/UIM coverage?
  • Am I insured when driving a different vehicle?
  • When should I not file a claim?
  • Am I covered if I hit my neighbor’s mailbox?
  • Do I have coverage when making deliveries for my home business?
  • I have a DUI can I still get coverage?

If you can’t answer these questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form. It is quick, free and may give you better protection.

Why your Volvo V70 might be costing you more

It’s important that you understand the factors that play a part in calculating the price you pay for insurance coverage. Having a good understanding of what influences your rates empowers consumers to make smart changes that will entitle you to big savings.

  • Liability coverage is peace of mind – Liability coverage will protect you if ever you are found to be at fault for damages caused by your negligence. Liability provides you with a defense in court up to the limits shown on your policy. This coverage is very inexpensive when compared with rates for comp and collision, so do not skimp.
  • Don’t cancel a policy without a new one in place – Having an insurance coverage lapse will be a quick way to trigger a rate increase. And not only will insurance be more expensive, getting caught without coverage can result in a license revocation or jail time.You may then be required to submit proof of financial responsibility or a SR-22 with your state department of motor vehicles.
  • Where you live can impact rates – Choosing to live in small towns and rural areas can be a good thing when buying insurance coverage. Fewer people means a lower chance of having an accident and also fewer theft and vandalism claims. Drivers in populated areas tend to have much more traffic to deal with and longer commutes to work. Longer commute distances means higher likelihood of an accident.
  • Better crash test results mean better rates – Vehicles with good safety scores get lower rates. These vehicles reduce injuries and lower injury rates means less money paid by your insurance company and thus lower rates. If your Volvo V70 is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may be receiving lower rates.
  • Lower miles equals lower premium – Driving more miles in a year the higher your rates will be. Almost all companies apply a rate based upon how you use the vehicle. Vehicles not used for work or commuting can get a lower rate than those used for commuting. An improperly rated V70 may be wasting your money. Ask your agent if your insurance coverage coverage properly reflects the proper vehicle usage, because it can save money.
  • Lower deductibles cost more – Physical damage deductibles represent how much money you are willing to pay out-of-pocket in the event of a claim. Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, covers damage that occurs to your car. Some examples of claims that would be covered could be colliding with a building, damage from fire, and burglary. The more expense the insured has to pay upfront, the less your company will charge you for insurance for V70 insurance.
  • Sex matters – The statistics show that women are safer drivers than men. However, don’t assume that women are better drivers. Men and women are in accidents in similar percentages, but the male of the species cause more damage and cost insurance companies more money. Men also tend to have more aggressive citations such as reckless driving.

Auto insurance coverage information

Learning about specific coverages of auto insurance aids in choosing appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be confusing and reading a policy is terribly boring.

Comprehensive coverages

Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against things like a tree branch falling on your vehicle, damage from getting keyed, falling objects and theft. The highest amount you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Auto liability insurance

This protects you from damages or injuries you inflict on people or other property that is your fault. It protects you from legal claims by others, and doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see liability limits of 50/100/50 that translate to $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property. Alternatively, you may have one limit called combined single limit (CSL) which limits claims to one amount without having the split limit caps.

Liability can pay for things such as emergency aid, pain and suffering, medical expenses and bail bonds. The amount of liability coverage you purchase is a personal decision, but consider buying as high a limit as you can afford.

Collision coverage

Collision coverage covers damage to your V70 resulting from a collision with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision can pay for things such as hitting a parking meter, crashing into a ditch, driving through your garage door and crashing into a building. This coverage can be expensive, so you might think about dropping it from vehicles that are older. It’s also possible to bump up the deductible to get cheaper collision coverage.

Coverage for medical payments

Coverage for medical payments and/or PIP kick in for bills for nursing services, X-ray expenses, pain medications and ambulance fees. They are often used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Coverage applies to all vehicle occupants in addition to getting struck while a pedestrian. PIP coverage is only offered in select states and gives slightly broader coverage than med pay

Uninsured and underinsured coverage

This protects you and your vehicle when the “other guys” either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and also any damage incurred to your Volvo V70.

Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea. Frequently your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Quote more. Save more.

Consumers switch companies for any number of reasons including unfair underwriting practices, high rates after DUI convictions, delays in paying claims or an unsatisfactory settlement offer. No matter why you want to switch, choosing a new company can be easy and end up saving you some money.

While you’re price shopping online, it’s not a good idea to reduce coverage to reduce premium. There are a lot of situations where someone sacrificed collision coverage only to find out they didn’t have enough coverage. Your focus should be to buy enough coverage for the lowest price while not skimping on critical coverages.

In this article, we presented many ideas to lower your 2002 Volvo V70 insurance rates. The most important thing to understand is the more quotes you get, the higher your chance of finding lower rates. Consumers could even find that the lowest premiums are with a smaller regional carrier.

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