Compare 2007 Volvo V50 Insurance Quotes

Want cheaper car insurance rates for your Volvo V50? No one in their right mind enjoys paying for car insurance, especially knowing their premiums are too high. Drivers have so many insurance companies to insure vehicles with, and although it’s a good thing to have multiple companies, having more insurers makes it harder to find the best rates.

More discounts equal less premium

Insurance can be prohibitively expensive, but you may find discounts that many people don’t even know exist. Larger premium reductions will be automatically applied when you complete an application, but lesser-known reductions have to be manually applied prior to getting the savings. If they aren’t giving you every credit you qualify for, you are throwing money away.

  • Accident Waiver – A handful of insurance companies allow you one accident without raising rates if your claims history is clear for a certain period of time.
  • Discount for New Cars – Buying coverage on a new vehicle can save up to 30% compared to insuring an older model.
  • Lower Rates for Military – Having a deployed family member could mean lower rates.
  • Passive Restraints – Vehicles equipped with air bags and/or automatic seat belt systems may earn rate discounts of more than 20%.
  • Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to use a seat belt can save 10% or more off your medical payments premium.
  • Government Employees – Being employed by or retired from a federal job may qualify you for a discount for V50 insurance with certain companies.
  • Good Students Pay Less – Performing well in school can get you a discount of up to 25%. The discount lasts well after school through age 25.
  • Own a Home – Being a homeowner can save you money due to the fact that maintaining a home shows financial diligence.
  • Driver Safety – Taking a defensive driving course could cut 5% off your bill if you qualify.
  • Paperless Signup – A handful of insurance companies give back up to $50 simply for signing over the internet.

Keep in mind that most discount credits are not given to your bottom line cost. Most cut individual premiums such as comp or med pay. Even though it may seem like it’s possible to get free car insurance, you won’t be that lucky. But all discounts will cut the cost of coverage.

To see a list of insurers offering auto insurance discounts, click here to view.

The easiest way to compare car insurance rates takes advantage of the fact most insurance companies participate in online systems to give you rate quotes. To begin a comparison, all you need to do is give them rating details such as the ages of drivers, how your vehicles are used, how much you drive, and if you went to college. Those rating factors gets transmitted to multiple companies and you should receive rate quotes immediately.

Factors that can influence Volvo V50 insurance rates

Smart consumers have a good feel for the rating factors that help determine auto insurance rates. Knowing what determines base rates helps enable you to make changes that could result in big savings.

  • Add-on coverages can add up – There are quite a few add-on coverages that you can get tricked into buying on your V50 policy. Insurance for personal injury protection, accidental death and additional equipment coverage may be costing you every month. These coverages may sound good when talking to your agent, but now you might not need them so eliminate the coverages to reduce your premium.
  • Multi-policy discounts can save money – Many auto insurance companies will give a discount to customers who buy several policies from them, otherwise known as a multi-policy discount. Even if you’re getting this discount it’s in your best interest to shop around to ensure the best deal. You may still find better rates by insuring with multiple companies.
  • Lower rates with optional equipment – Driving a car with anti-theft technology or alarm system can save you a little every year. Anti-theft features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder your car from being stolen.
  • Your location affects your rates – Living in less populated areas can save you money when insuring your vehicles. Fewer people means a lower chance of having an accident and also fewer theft and vandalism claims. Urban drivers regularly have traffic congestion and longer commutes to work. Higher commute times translates into higher accident risk.

It’s not one size fits all

When buying the best auto insurance coverage, there really is not a best way to insure your cars. Each situation is unique so your insurance should reflect that For instance, these questions can help discover if your situation could use an agent’s help.

  • Why do I only qualify for high-risk insurance?
  • Should I carry comprehensive and collision coverage?
  • Am I covered if I hit my neighbor’s mailbox?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?
  • Are all vehicle passengers covered by medical payments coverage?
  • Where can I get insurance after a DUI in my state?
  • Should I rate my 2007 Volvo V50 as pleasure use or commute?
  • Do I need PIP (personal injury protection) coverage in my state?
  • When can I cancel my policy?
  • Does my policy pay for OEM or aftermarket parts?

If you don’t know the answers to these questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find an agent in your area, complete this form or you can go here for a list of companies in your area. It’s fast, free and can help protect your family.

Insurance coverage considerations

Having a good grasp of your policy can be of help when determining the best coverages and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and reading a policy is terribly boring. Below you’ll find typical coverage types found on most insurance policies.

Comprehensive (Other than Collision) – This coverage will pay to fix damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive insurance covers claims like a broken windshield, hitting a deer, hail damage and rock chips in glass. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Medical expense insurance – Medical payments and Personal Injury Protection insurance pay for bills like surgery, pain medications, hospital visits, ambulance fees and doctor visits. They are often used to cover expenses not covered by your health insurance program or if you do not have health coverage. They cover both the driver and occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay

Protection from uninsured/underinsured drivers – This gives you protection from other drivers when they are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family and damage to your Volvo V50.

Since many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Frequently these coverages are similar to your liability insurance amounts.

Coverage for liability – This coverage protects you from damages or injuries you inflict on people or other property by causing an accident. This coverage protects you from claims by other people. It does not cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 25/50/25 that means you have $25,000 bodily injury coverage, $50,000 for the entire accident, and $25,000 of coverage for damaged propery. Occasionally you may see one limit called combined single limit (CSL) which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for things such as medical services, repair bills for other people’s vehicles, structural damage, legal defense fees and attorney fees. How much liability should you purchase? That is your choice, but buy as much as you can afford.

Collision coverage – This pays for damage to your V50 from colliding with another car or object. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage pays for claims such as driving through your garage door, sideswiping another vehicle and backing into a parked car. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are 8 years or older. Another option is to raise the deductible to save money on collision insurance.

Knowledge is power

When buying insurance coverage, it’s not a good idea to skimp on coverage in order to save money. There are many occasions where someone sacrificed comprehensive coverage or liability limits and learned later that it was a big error on their part. Your focus should be to purchase a proper amount of coverage for the lowest price.

Affordable 2007 Volvo V50 insurance can be purchased on the web in addition to many insurance agents, and you need to comparison shop both to have the best chance of lowering rates. Some companies do not provide you the ability to get quotes online and these small insurance companies work with independent agents.

More articles