2009 Volvo V50 Insurance Rates

Searching for the cheapest insurance coverage rates for your Volvo V50? Have you had enough of scraping the payment together each month for car insurance? You’re in the same situation as millions of other consumers. With consumers having so many insurance providers from which to choose, it can be hard to pick the lowest cost company.

It’s a good habit to check insurance coverage prices at least once a year because prices go up and down regularly. Even if you think you had the best deal on V50 coverage two years ago other companies may now be cheaper. Forget all the misinformation about insurance coverage because you’re about to find out the only way to save money, get proper deductibles and limits, all at the lowest rate.

Elements that influence Volvo V50 insurance rates

It’s important that you understand some of the elements that play a part in calculating insurance rates. Having a good understanding of what controls the rates you pay helps enable you to make changes that may reward you with big savings.

  • Your location affects your rates – Living in a small town has it’s advantages when insuring your vehicles. Less people living in that area means fewer accidents. Urban drivers regularly have congested traffic and longer commute times. Higher commute times translates into higher accident risk.
  • Cautious drivers pay less – Your driving record has a lot to do with how much you pay for insurance. Drivers who don’t get tickets receive lower rates than bad drivers. Just one citation can bump up the cost by twenty percent. Drivers who get serious violations like DUI or reckless driving may be required to file a proof of financial responsibility form (SR-22) with their state motor vehicle department in order to continue driving.
  • Bump up deductibles to save – Physical damage insurance, commonly called comprehensive (or other-than-collision) and collision coverage, protects your Volvo from damage. Some instances where coverage would apply could be colliding with a building, damage caused by hail, or theft. Physical damage deductibles are the amount of money you are willing to pay before a claim is paid by your company. The more expense you are required to pay out-of-pocket, the bigger discount you will receive on V50 coverage.
  • High credit ratings translate to low rates – A driver’s credit history is a huge factor in your rate calculation. If your credit history is not that good, you could save money insuring your 2009 Volvo V50 by repairing your credit. Consumers who have high credit ratings tend to be less risk to insure than drivers who have lower credit scores.
  • Claim-free discounts can add up – Car insurance companies provide better rates to policyholders who are claim-free. If you tend to file frequent claims, you can definitely plan on either a policy non-renewal or much higher rates. Auto insurance is designed for major claims that would cause financial hardship.
  • Women pay lower rates – Statistics show that women are safer drivers than men. However, this does not mean women are BETTER drivers than men. Both sexes cause accidents in similar numbers, but the men have costlier accidents. Men also statistically get cited for more serious violations like DUI and reckless driving. Teenage male drivers tend to get in the most accidents and thus pay the highest rates.
  • Marriage brings a discount – Being married can get you a discount on insurance. It means you’re more mature and responsible it has been statistically shown that drivers who are married are more cautious.
  • Don’t skimp on liability – The liability section of your policy is the protection if a jury decides you are liable for causing damage or personal injury in an accident. It provides you with a defense in court up to the limits shown on your policy. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so do not cut corners here.

Insurance Comparison Rates

Finding a better price on insurance can be surprisingly simple. The only thing you need to do is invest a few minutes to get quotes online from several insurance companies. This is very easy and can be done using a couple different methods.

One of the simplest ways to get the best comparison quotes is a comparison rater form (click to open form in new window). This form prevents you from having to do boring form submissions for each company. A single form compares rates from multiple companies.

A less efficient way to shop for insurance online requires you to visit the website for every company you want to comare and complete a new quote form. For example, let’s assume you want to compare Progressive, Liberty Mutual and State Farm. You would have to go to every website and enter your policy data, which is why the first method is quicker.

For a list of links to insurance companies in your area, click here.

The most time-consuming method of comparing rate quotes is to waste gas driving to and from local insurance agencies. Shopping for insurance online eliminates the need for an insurance agent unless you have a need for the professional advice of a local agent. It is possible to price shop online and still use a local agent.

Which method you use is up to you, but ensure you’re using exactly the same quote information with every price quote. If you are comparing different limits and deductibles on each one you will not be able to determine the lowest rate for your Volvo V50.

Don’t overlook these discounts

Car insurance companies don’t always publicize all their discounts very clearly, so the following is a list of some of the more common and the more hidden savings tricks you should be using. If you’re not getting every credit possible, you are throwing money away.

  • Multiple Cars – Insuring all your vehicles on the same insurance policy may reduce the rate for each vehicle.
  • Military Discounts – Having a deployed family member can result in better rates.
  • Low Mileage – Driving fewer miles could be rewarded with better rates on cars that stay parked.
  • Driver Safety – Successfully completing a driver safety course can save you 5% or more depending on where you live.
  • Paperless Signup – A handful of insurance companies give back up to $50 for buying your policy digitally online.
  • Discounts for Safe Drivers – Safe drivers can pay as much as 50% less on V50 coverage than less cautious drivers.
  • Passive Restraints and Air Bags – Vehicles equipped with air bags may earn rate discounts of more than 20%.
  • Braking Control Discount – Cars that have steering control and anti-lock brakes are safer to drive and therefore earn up to a 10% discount.

Drivers should understand that most credits do not apply to the entire cost. A few only apply to the cost of specific coverages such as comp or med pay. So despite the fact that it appears you can get free auto insurance, companies wouldn’t make money that way.

For a list of insurers with discount insurance rates, click here to view.

Is my situation unique?

When buying adequate coverage, there really is not a “perfect” insurance plan. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. For instance, these questions could help you determine whether or not you will benefit from professional help.

  • What discounts do I qualify for?
  • When do I need to add a new car to my policy?
  • Can I rate high risk drivers on liability-only vehicles?
  • Can I afford to pay high deductible claims out of pocket?
  • How high should my uninsured/underinsured coverage be in my state?
  • Is upholstery damage covered by car insurance?
  • Am I covered if I wreck a rental car?

If you can’t answer these questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, complete this form or you can go here for a list of companies in your area. It’s fast, free and you can get the answers you need.

Coverages available on your policy

Understanding the coverages of your policy helps when choosing which coverages you need at the best deductibles and correct limits. The terms used in a policy can be ambiguous and coverage can change by endorsement. Shown next are the normal coverages found on most car insurance policies.

Medical costs insurance

Medical payments and Personal Injury Protection insurance provide coverage for bills for EMT expenses, prosthetic devices, pain medications and funeral costs. They can be utilized in addition to your health insurance program or if there is no health insurance coverage. Coverage applies to you and your occupants and also covers any family member struck as a pedestrian. PIP is only offered in select states and may carry a deductible

Comprehensive or Other Than Collision

Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims such as hitting a bird, theft and a tree branch falling on your vehicle. The maximum payout your car insurance company will pay is the cash value of the vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

UM/UIM Coverage

Your UM/UIM coverage gives you protection when the “other guys” either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants and also any damage incurred to your Volvo V50.

Since many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. So UM/UIM coverage should not be overlooked.

Auto liability

This coverage can cover injuries or damage you cause to people or other property. This coverage protects you against claims from other people. It does not cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show values of 100/300/100 which stand for $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery.

Liability can pay for claims such as bail bonds, pain and suffering and medical expenses. How much liability should you purchase? That is a decision to put some thought into, but you should buy as much as you can afford.

Collision protection

Collision coverage covers damage to your V50 resulting from colliding with an object or car. A deductible applies then your collision coverage will kick in.

Collision can pay for things like driving through your garage door, crashing into a building, crashing into a ditch, sideswiping another vehicle and scraping a guard rail. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. It’s also possible to increase the deductible to get cheaper collision coverage.

Do the work, save more money

We’ve covered a lot of information how to shop for 2009 Volvo V50 insurance online. The key concept to understand is the more quotes you get, the better your chances of lowering your rates. You may be surprised to find that the best prices are with the least-expected company. Smaller companies can often insure niche markets at a lower cost compared to the large companies like Allstate and Progressive.

Budget-conscious insurance is available on the web and with local insurance agents, so compare prices from both so you have a total pricing picture. Some companies do not offer online price quotes and usually these regional insurance providers provide coverage only through local independent agents.

Much more information about insurance can be found at the links below