Save on 1998 Volvo V70 Insurance Quotes

Are you a victim of an overpriced auto insurance policy? Trust us when we tell you many consumers are feeling buyer’s remorse and feel like there’s no way out. Companies like State Farm, Progressive and Geico all promote huge savings with catchy ads and consumers find it hard to see past the geckos and flying pigs and do the work needed to find the best deal.

Impacting insurance rates for a Volvo V70

Smart consumers have a good feel for the rating factors that help determine the price you pay for insurance coverage. Knowing what influences your rates enables informed choices that may reward you with much lower annual insurance costs.

  • Extra coverages can waste money – There are quite a few add-on coverages that can waste your money on your 1998 V70 policy. Insurance for vanishing deductibles, accident forgiveness and membership fees are some examples. These may sound like a good investment when you first buy your policy, but your needs may have changed so eliminate the coverages to reduce your premium.
  • A clean driving record saves money – Your driving record has a huge affect on how much you pay. Drivers with clean records have lower premiums than their less careful counterparts. Even one ticket may increase your cost forty percent or more. Drivers who get dangerous violations such as hit and run, DWI or reckless driving convictions may be required to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to prevent a license revocation.
  • Higher deductibles cost less – Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your Volvo. Some instances where coverage would apply could be running into the backend of another car, vandalism, and rolling your vehicle. Deductibles for physical damage are how much you are willing to pay out-of-pocket in the event of a claim. The higher the amount you are required to pay out-of-pocket, the bigger discount you will receive for V70 coverage.
  • High crash test scores lower rates – Vehicles with high crash test scores can get you lower premiums. These vehicles result in less severe injuries and any reduction in injury severity translates into fewer and smaller insurance claims and more competitive rates for policyholders. If your Volvo earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website it may be receiving lower rates.
  • Mature drivers pay less – Older insureds are viewed as being more responsible, file fewer claims and are safer drivers. Teen drivers tend to be less responsible when behind the wheel therefore insurance coverage rates are much higher.

How to save on Volvo V70 insurance

Insuring your vehicles can cost a lot, but you may find discounts to help offset the cost. Larger premium reductions will be automatically applied when you purchase, but a few must be requested specifically before you get the savings. If you aren’t receiving every discount you deserve, you’re paying more than you need to.

  • Senior Citizens – Older drivers can possibly qualify for a discount up to 10% for V70 coverage.
  • Clubs and Organizations – Participating in certain professional organizations is a good way to get lower rates on your policy for V70 coverage.
  • Homeowners Savings – Owning a house can help you save on insurance due to the fact that maintaining a home is proof that your finances are in order.
  • Military Discounts – Having a family member in the military could mean lower rates.
  • Anti-theft System – Vehicles with anti-theft systems prevent vehicle theft and will save you 10% or more.
  • No Charge for an Accident – A handful of insurance companies allow you one accident without raising rates as long as you don’t have any claims for a certain period of time.
  • Auto/Life Discount – Some companies give better rates if you take out life insurance from them.
  • Federal Employees – Being employed by or retired from a federal job can save as much as 8% for V70 coverage depending on your company.

A little note about advertised discounts, many deductions do not apply to the entire cost. A few only apply to the cost of specific coverages such as liability and collision coverage. So despite the fact that it appears you could get a free insurance policy, companies don’t profit that way. But any discount will cut your premiums.

To see a list of insurance companies who offer insurance discounts, click this link.

Tailor your coverage to you

When it comes to choosing the best auto insurance coverage, there really is no cookie cutter policy. Coverage needs to be tailored to your specific needs and your policy should reflect that. Here are some questions about coverages that might point out whether your personal situation would benefit from an agent’s advice.

  • Can I rent a car in Mexico?
  • Why am I required to buy liability insurance?
  • Is my babysitter covered when using my vehicle?
  • Can I get a multi-policy discount?
  • Do I have coverage for damage caused while driving under the influence?
  • What is PIP insurance?

If you can’t answer these questions but one or more may apply to you, then you may want to think about talking to an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of auto insurance companies in your area. It’s fast, doesn’t cost anything and can provide invaluable advice.

Car insurance 101

Knowing the specifics of your policy can help you determine which coverages you need and the correct deductibles and limits. The terms used in a policy can be ambiguous and reading a policy is terribly boring. Below you’ll find typical coverages offered by insurance companies.

Comprehensive coverage (or Other than Collision)

This 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 claims like a broken windshield, falling objects, a tree branch falling on your vehicle, hitting a deer and damage from getting keyed. The maximum payout a insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Coverage for liability

Liability insurance protects you from damages or injuries you inflict on a person or their property that is your fault. It protects you against other people’s claims, and doesn’t cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see limits of 100/300/100 which stand for $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and property damage coverage for $100,000. Alternatively, you may have one limit called combined single limit (CSL) which limits claims to one amount and claims can be made without the split limit restrictions.

Liability can pay for things such as medical expenses, loss of income, funeral expenses and attorney fees. The amount of liability coverage you purchase is up to you, but consider buying as high a limit as you can afford.

Insurance for medical payments

Coverage for medical payments and/or PIP provide coverage for short-term medical expenses for things like EMT expenses, rehabilitation expenses, chiropractic care and funeral costs. They are often utilized in addition to your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants as well as getting struck while a pedestrian. PIP is not available in all states and gives slightly broader coverage than med pay

Uninsured Motorist or Underinsured Motorist insurance

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and also any damage incurred to your Volvo V70.

Because many people only carry the minimum required liability limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family. Usually the UM/UIM limits do not exceed the liability coverage limits.

Collision coverage

Collision insurance pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage protects against claims such as sideswiping another vehicle, crashing into a building, damaging your car on a curb and rolling your car. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to get cheaper collision coverage.

Shop around and save

As you shop your coverage around, it’s a bad idea to skimp on coverage in order to save money. Too many times, someone dropped liability coverage limits only to regret at claim time that the few dollars in savings costed them thousands. Your goal should be to find the BEST coverage at the best price while not skimping on critical coverages.

We covered a lot of tips how to save on 1998 Volvo V70 insurance. The most important thing to understand is the more companies you get rates for, the better chance you’ll have of finding lower rates. You may be surprised to find that the lowest priced auto insurance comes from a small mutual company. Regional companies may cover specific market segments cheaper than the large multi-state companies such as Geico and State Farm.

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