Comparison shopping for auto insurance can be difficult for consumers new to shopping for insurance online. You have so many choices that it can be more work than you anticipated to find lower rates.
Smart consumers have a good feel for some of the elements that come into play when calculating the rates you pay for insurance coverage. Knowing what influences your rates helps enable you to make changes that may reward you with better insurance coverage rates.
Companies that sell car insurance don’t necessarily list all available discounts in an easy-to-find place, so we break down both well-publicized and also the lesser-known ways to save on insurance.
A little note about advertised discounts, most discount credits are not given to the overall cost of the policy. A few only apply to specific coverage prices like liability and collision coverage. Just because you may think all those discounts means the company will pay you, you won’t be that lucky.
For a list of insurers with discount insurance rates, follow this link.
Companies like Allstate, Geico and Progressive constantly bombard you with ads in print and on television. All the ads make an identical promise that you’ll save big if you switch your coverage to them. How do they all claim to save you money?
Different companies have a certain “appetite” for the type of customer they prefer to insure. An example of a desirable insured could be between 25 and 40, has no driving citations, and has a short commute. A customer getting a price quote who meets those qualifications gets the lowest rates and most likely will save a lot of money.
Drivers who are not a match for these standards will have to pay higher rates which usually ends up with the customer not buying. The ad wording is “customers who switch” not “people who quote” save that kind of money. That’s the way insurance companies can make the claims of big savings. Because of the profiling, drivers should get quotes from several different companies. You cannot predict the company that will have the lowest Volvo S40 insurance rates.
When choosing adequate coverage, there is no “perfect” insurance plan. Everyone’s situation is a little different.
For instance, these questions might point out if you would benefit from professional advice.
If you don’t know the answers to these questions then you might want to talk to a licensed agent. To find lower rates from a local agent, simply complete this short form.
Having a good grasp of your policy aids in choosing which coverages you need and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy.
Liability – This protects you from damage that occurs to other’s property or people in an accident. This coverage protects you against claims from other people. Liability doesn’t cover damage sustained by your vehicle in an accident.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 25/50/25 which stand for a limit of $25,000 per injured person, $50,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property.
Liability coverage pays for things like attorney fees, funeral expenses and repair costs for stationary objects. How much liability should you purchase? That is up to you, but consider buying as large an amount as possible.
Coverage for uninsured or underinsured drivers – Your UM/UIM coverage gives you protection when other motorists either have no liability insurance or not enough. Covered losses include injuries to you and your family and also any damage incurred to your Volvo S40.
Due to the fact that many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
Coverage for medical expenses – Coverage for medical payments and/or PIP provide coverage for expenses such as funeral costs, doctor visits and EMT expenses. They are often utilized in addition to your health insurance program or if there is no health insurance coverage. It covers both the driver and occupants as well as getting struck while a pedestrian. PIP is not an option in every state and gives slightly broader coverage than med pay
Collision – Collision coverage will pay to fix damage to your S40 resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.
Collision coverage protects against claims like sustaining damage from a pot hole, driving through your garage door, crashing into a ditch and backing into a parked car. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible to bring the cost down.
Comprehensive insurance – This coverage will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive can pay for claims such as fire damage, damage from a tornado or hurricane and falling objects. The maximum amount a insurance company will pay at claim time is the market value of your vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.
Consumers change insurance companies for a number of reasons such as extreme rates for teen drivers, being labeled a high risk driver, policy cancellation or even delays in responding to claim requests. No matter why you want to switch, choosing a new insurance company is not as difficult as it may seem.
When trying to cut insurance costs, you should never buy less coverage just to save a little money. There are a lot of situations where an insured cut liability limits or collision coverage to discover at claim time that the small savings ended up costing them much more. Your strategy should be to purchase plenty of coverage at the best price, not the least amount of coverage.
Cheaper 2010 Volvo S40 insurance can be bought on the web and also from your neighborhood agents, so you should be comparing quotes from both to have the best selection. Some insurance providers may not provide online price quotes and usually these smaller companies provide coverage only through local independent agents.
Even more information can be read in these articles: