How Much Does 2000 Volvo V40 Car Insurance Cost?

Looking for cheaper auto insurance rates for your Volvo V40? Nobody that owns a car enjoys paying for auto insurance, especially when their premiums are too high. Many car insurance companies compete to insure your vehicles, and because of this it can be hard to compare auto insurance companies and get the definite cheapest price

It’s a good habit to compare rates periodically since rates are usually higher with each renewal. Despite the fact that you may have had the best rate on V40 insurance a year ago a different company probably has better prices today. Ignore everything you know about auto insurance because you’re going to learn the tricks you need to know to find lower rates on auto insurance.

How to get affordable auto insurance

There are several ways to compare auto insurance prices but some are easier and takes less work. You can spend countless hours talking to local insurance agents in your area, or you can stay home and use the internet to get rate comparisons in just a few minutes.

Many of the larger companies belong to an insurance system where prospective buyers send in one quote, and each participating company can provide price quotes based on that information. This saves time by eliminating quotation requests for each company. To participate in this free quote system, click here (opens in new window).

The single downside to doing it this way is you can’t choose the providers you want pricing from. So if you want to choose individual companies to request quotes from, we have assembled a list of low cost auto insurance companies in your area. Click to view list.

The approach you take is up to you, just make sure you are using exactly the same quote information on every price quote you get. If you use higher or lower deductibles it’s not possible to decipher which rate is best.

Earn discounts on insurance

Auto insurance companies don’t always publicize the complete list of policy discounts very clearly, so we researched both well-publicized in addition to some of the lesser obvious credits that you can use to lower your rates.

  • Responsible Driver Discount – Drivers without accidents may receive a discount up to 45% on V40 insurance than their less cautious counterparts.
  • More Vehicles More Savings – Purchasing coverage when you have several vehicles on a single policy can get a discount on all vehicles.
  • Defensive Driver Discount – Taking a defensive driving course could possibly earn you a 5% discount if you qualify.
  • Service Members Pay Less – Being on active duty in the military can result in better insurance rates.
  • Policy Bundle Discount – If you combine your homeowners and auto policies with the same company you will save nearly 15% which can help you find cheap insurance coverage.
  • Early Renewal Discounts – A few insurance companies give discounts for switching companies prior to the expiration date on your current policy. You may see this discount when you get insurance coverage quotes online.
  • Data Collection Discounts – People who choose to allow data collection to analyze where and when they drive remotely such as State Farm’s In-Drive might get better premium rates if they are good drivers.

Consumers should know that most of the big mark downs will not be given the the whole policy. Most only cut the cost of specific coverages such as comprehensive or collision. So despite the fact that it appears all the discounts add up to a free policy, insurance companies wouldn’t stay in business.

Car insurance companies that may offer policyholders these benefits are:

If you are trying to find inexpensive insurance coverage quotes, ask every insurance company which discounts can lower your rates. Some credits may not apply in your area. To locate companies who offer insurance discounts, follow this link.

Tailor your car insurance coverage to you

When it comes to buying proper insurance coverage, there isn’t really a “best” method to buy coverage. Coverage needs to be tailored to your specific needs and your policy should reflect that. For instance, these questions can aid in determining whether your personal situation could use an agent’s help.

  • How high should my medical payments coverage be?
  • Do I have coverage when using my vehicle for my home business?
  • How many claims can I have before being cancelled?
  • Is my teenager covered with friends in the car?
  • Do I need roadside assistance coverage?
  • How much liability coverage do I need in my state?
  • When should I not file a claim?
  • When should I remove comp and collision on my 2000 Volvo V40?
  • Does my insurance cover a custom paint job?
  • Is my 2000 Volvo V40 covered for flood damage?

If it’s difficult to answer those questions, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It only takes a few minutes and may give you better protection.

How your V40 insurance prices are determined

Smart consumers have a good feel for a few of the rating criteria that are used to determine the rates you pay for insurance coverage. When you understand what controls the rates you pay, this allows you to make good choices that will entitle you to lower insurance coverage prices. Multiple criteria are taken into consideration when you get your auto insurance bill. Some are pretty understandable like an MVR report, although others are more obscure like where you live and annual miles driven.

  • No insurance coverage claims equals cheap premiums – Car insurance companies generally give discounts to policyholders that do not abuse their auto insurance. If you file a lot of claims you can definitely plan on higher premiums or even policy non-renewal. Your car insurance is intended to be relied upon for more catestrophic claims.
  • Bundle policies and save money – Lots of insurers will give lower prices to clients who consolidate policies with them such as combining an auto and homeowners policy. This can amount to anywhere from five to ten percent in most cases. Even with this discount, drivers will still want to compare other company rates to make sure you are getting the best deal. Consumers may find a better deal even if you insure with multiple companies
  • Discounts for married couples – Having a wife or husband can get you a discount on your insurance coverage bill. Marriage usually means you are more responsible and it’s proven that married drivers tend to have fewer serious accidents.
  • Do you need those extra policy coverages? – Policies have add-on coverages that you can get tricked into buying if you aren’t diligent. Things like rental car reimbursement, accidental death, and additional equipment coverage may not be needed and are just wasting money. These coverages may sound good when discussing your needs, but now you might not need them so eliminate the coverages to reduce your premium.
  • Annual miles is a factor – The more you drive in a year the more you will pay for insurance coverage. A lot of insurance companies price each vehicle’s coverage based upon how you use the vehicle. Vehicles that sit idle most of the time can get a lower rate than those that get driven frequently. It’s always a good idea to double check that your insurance coverage policy is showing annual mileage. Improper usage on your V40 is throwing money out the window.
  • Driving citations are costly – Even a single speeding ticket or other violation can boost insurance rates twenty percent or more. Drivers with clean records pay lower auto insurance prices compared to bad drivers. Drivers who have gotten flagrant violations like reckless driving or DUI may face state-mandated requirements to submit a SR-22 or proof of financial responsibility with their state in order to prevent their license from being revoked.

Is there truth in advertising?

Drivers constantly see and hear ads that promise big savings for switching by companies like State Farm and Allstate. All the ads seem to make the promise that drivers will save a bundle just by switching your insurance coverage policy to them.

How is it plausible that every one can lower your rates?

Insurance coverage companies have specific characteristics for the right customer that will add to their bottom line. For instance, a profitable insured could be over the age of 45, owns their home, and drives newer vehicles. Any new insured who meets those qualifications will get low premium rates and will also save quite a bit of money when switching.

People who don’t qualify for the “perfect” profile will have to pay a higher premium and the customer buying from someone else. The ads say “drivers that switch” not “everyone that quotes” will save that much if they switch. This is how insurance companies can advertise the savings.

That is why it is so important to do a quote comparison often. Because without a comparison, you cannot know which insurance coverage company will give you the biggest savings.

Specifics of your insurance policy

Having a good grasp of insurance aids in choosing which coverages you need and the correct deductibles and limits. Insurance terms can be impossible to understand and even agents have difficulty translating policy wording. Listed below are typical coverage types offered by insurance companies.

Collision protection

This will pay to fix damage to your V40 from colliding with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers things such as sideswiping another vehicle, hitting a parking meter, sustaining damage from a pot hole, rolling your car and colliding with another moving vehicle. This coverage can be expensive, so consider dropping it from lower value vehicles. You can also raise the deductible in order to get cheaper collision rates.

Comprehensive insurance

This pays for damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive can pay for things such as damage from a tornado or hurricane, hail damage and a broken windshield. The maximum payout a insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Liability coverage

Liability insurance provides protection from damages or injuries you inflict on people or other property. It protects YOU against other people’s claims, and does not provide coverage for damage sustained by your vehicle in an accident.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have liability limits of 50/100/50 which stand for a limit of $50,000 per injured person, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property. Some companies may use a combined single limit or CSL which limits claims to one amount with no separate limits for injury or property damage.

Liability coverage protects against claims like medical services, court costs and funeral expenses. How much liability coverage do you need? That is a personal decision, but buy as large an amount as possible.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance kick in for bills like dental work, rehabilitation expenses, X-ray expenses and EMT expenses. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. It covers not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Uninsured/Underinsured Motorist (UM/UIM)

This coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. It can pay for medical payments for you and your occupants as well as your vehicle’s damage.

Because many people carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family. Most of the time these limits are set the same as your liablity limits.

A fool and his money are soon parted

As you go through the steps to switch your coverage, it’s not a good idea to buy poor coverage just to save money. Too many times, consumers will sacrifice liability coverage limits and learned later they didn’t purchase enough coverage. The proper strategy is to purchase plenty of coverage at the best cost, but do not skimp to save money.

Budget-friendly insurance is possible from both online companies and also from your neighborhood agents, and you need to price shop both in order to have the best price selection to choose from. There are still a few companies who don’t offer online price quotes and many times these small, regional companies prefer to sell through independent agents.

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