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.
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.
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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.
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.
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.
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.
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.
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.
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 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.
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 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 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
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.
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.