2008 Volvo S40 Insurance Quotes – 8 Tips for Cheaper Rates

Looking for better auto insurance rates for your Volvo S40? Expensive auto insurance can dwindle your checking account and force you to make sacrifices. Comparing price quotes is free and is an excellent way to cut your insurance bill. Lots of insurers contend to insure your vehicles, so it’s not easy to compare every insurer and uncover the absolute lowest cost out there.

If you have insurance now or need a new policy, you can use this information to find the best rates and possibly find even better coverage. Finding affordable coverage is not rocket science. Consumers just need to learn the tricks to get comparison rates over the internet.

Companies offer discounts so take them!

The price of auto insurance can be rather high, but you can get discounts to cut the cost considerably. Most are applied at quote time, but less common discounts must be specifically requested in order for you to get them. If you’re not getting every credit you deserve, you’re just leaving money on the table.

  • Pay Upfront and Save – If paying your policy premium upfront instead of paying each month you can actually save on your bill.
  • Good Students Pay Less – Getting good grades can get you a discount of up to 25%. This discount can apply until age 25.
  • Federal Government Employee – Being employed by or retired from a federal job can earn a discount up to 10% on S40 insurance with a few car insurance companies.
  • New Car Discount – Putting insurance coverage on a new car is cheaper compared to insuring an older model.
  • Driver’s Ed – Have your child successfully complete driver’s ed class if it’s offered in school.
  • Own a Home – Owning a house may trigger a car insurance policy discount because maintaining a house shows financial diligence.
  • Accident Forgiveness – A handful of insurance companies will forgive one accident before hitting you with a surcharge if you are claim-free for a particular time prior to the accident.
  • Early Switch Discount – Some companies give discounts for buying a policy before your current expiration date. It’s a savings of about 10%.

It’s important to understand that most of the big mark downs will not be given to all coverage premiums. A few only apply to individual premiums such as liability, collision or medical payments. Even though it may seem like you would end up receiving a 100% discount, car insurance companies aren’t that generous. Any amount of discount will help reduce your overall premium however.

A partial list of companies that may 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. All car insurance discounts may not apply in your state.

Do I just need basic coverages?

When buying proper insurance coverage, there really is not a perfect coverage plan. Every situation is different so this has to be addressed. For instance, these questions may help you determine if you could use an agent’s help.

  • When does my teenage driver need to be added to my policy?
  • How high should my medical payments coverage be?
  • What is an SR-22 filing?
  • Is my Volvo S40 covered if I use it for business?
  • What companies insure drivers after a DUI or DWI?
  • If my 2008 Volvo S40 is totaled, can I afford another vehicle?
  • Will my rates increase for filing one claim?
  • Am I covered when driving in Canada or Mexico?
  • Does liability extend to a camper or trailer?

If you’re not sure about those questions, you may need to chat with an agent. To find an agent in your area, take a second and complete this form or click here for a list of auto insurance companies in your area. It is quick, free and may give you better protection.

Insurance policy coverages for a Volvo S40

Understanding the coverages of insurance helps when choosing appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be confusing and nobody wants to actually read their policy. Shown next are the normal coverages available from insurance companies.

Collision coverage protection

This coverage pays for damage to your S40 from colliding with another car or object. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things such as hitting a parking meter, rolling your car, driving through your garage door, backing into a parked car and crashing into a building. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.

UM/UIM (Uninsured/Underinsured Motorist) coverage

Your UM/UIM coverage protects you and your vehicle when the “other guys” do not carry enough liability coverage. Covered losses include hospital bills for your injuries as well as damage to your Volvo S40.

Due to the fact that many 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 important protection for you and your family. Most of the time your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Comprehensive auto coverage

This pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive can pay for things such as falling objects, damage from a tornado or hurricane, damage from flooding and damage from getting keyed. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Liability car insurance

Liability coverage provides protection from damages or injuries you inflict on other people or property in an accident. It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have policy limits of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property. Alternatively, you may have a combined single limit or CSL which limits claims to one amount rather than limiting it on a per person basis.

Liability insurance covers things such as medical expenses, bail bonds and court costs. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as high a limit as you can afford.

Medical payments and PIP coverage

Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses such as nursing services, funeral costs, X-ray expenses and surgery. They can be used in conjunction with a health insurance policy or if you do not have health coverage. It covers not only the driver but also the vehicle occupants as well as being hit by a car walking across the street. Personal injury protection coverage is not universally available and may carry a deductible

Final considerations

As you go through the steps to switch your coverage, make sure you don’t skimp on critical coverages to save a buck or two. Too many times, someone dropped full coverage and discovered at claim time that the savings was not a smart move. The ultimate goal is to buy a smart amount of coverage at an affordable rate, not the least amount of coverage.

You just read some good ideas how you can save on 2008 Volvo S40 insurance. The key concept to understand is the more quotes you get, the higher the chance of saving money. Consumers could even find that the lowest rates come from a small mutual company. They may only write in your state and offer lower rates as compared to the big name companies such as Allstate or State Farm.

The cheapest insurance can be bought on the web and with local insurance agents, so you should compare both to have the best chance of lowering rates. A few companies do not offer you the ability to get quotes online and many times these regional insurance providers only sell through independent insurance agents.

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