How Much Does 2002 Volvo S40 Insurance Cost?

Are you drained from scraping nickels together to pay your auto insurance bill each month? Your situation is no different than millions of other consumers. Numerous insurers battle for your insurance dollar, and it can be difficult to compare rates to find the lowest rate

Consumers should take time to price shop coverage as often as possible because auto insurance rates are rarely the same from one policy term to another. If you had the best deal for S40 insurance six months ago other companies may now be cheaper. Ignore everything you know about auto insurance because it’s time to teach you the easiest way to save on auto insurance.

How much does auto insurance cost?

There are several ways you can shop for auto insurance but one way is less time-consuming than others. You can waste hours talking about coverages with insurance agencies in your area, or you could use online quoting to accomplish the same thing much quicker.

The majority of car insurance companies are enrolled in a marketplace where prospective buyers only type in their quote data once, and each company provides a quote. This prevents consumers from doing form submissions to every company. To enter your information into the quoting system, click here (opens in new window).

The one downside to pricing coverage this way is buyers cannot specifically choose the insurers you want to price. So if you prefer to choose specific providers to compare rates, we have a listing of auto insurance companies in your area. Click here to view list.

How you compare quotes is your choice, just do your best to enter apples-to-apples coverage data with every price quote. If the quotes have differing limits you will not be able to decipher which rate is best.

Tricks in insurance advertising

Drivers can’t get away from all the ads that promise big savings from the likes of 21st Century, Allstate and State Farm. All the companies seem to make the promise about saving some big amount if you move your insurance policy to them.

How does each company lower your car insurance rates? This is how they do it.

Insurance providers provide the lowest rates for the driver that earns them the highest profit. For instance, a profitable risk profile could possibly be a married female, insures multiple vehicles, and drives less than 7,500 miles a year. A propective insured who meets those qualifications will most likely get cheap car insurance rates and will probably save quite a bit of money when switching.

Potential customers who fall outside those standards will have to pay higher premiums and business going elsewhere. The ads state “customers who switch” not “all people who quote” will save that much if they switch. That is how insurance companies can state the savings.

This illustrates why you really should do a quote comparison often. You cannot predict which insurance company will have the lowest rate quotes.

Insurance coverage quotes and discounts

Insurance coverage can be pricey, but you might find some hidden discounts that you may not even know about. Certain reductions will be credited at the time of purchase, but some need to be specifically requested before they will apply.

  • Theft Deterent System – Cars and trucks optioned with advanced anti-theft systems help deter theft and will qualify for a discount on a car insurance quote.
  • Save over 55 – Seniors may receive a small discount on rates for S40 insurance.
  • Sign Online – Certain companies may give you up to $50 simply for signing on their website.
  • Discounts for Seat Belt Usage – Drivers who require all vehicle occupants to buckle up before driving can save up to 10 percent (depending on the company) off the PIP or medical payment premium.
  • Lower Rates for Military – Being on active deployment in the military could qualify you for better insurance coverage rates.

One last thing about discounts, some of the credits will not apply to the entire policy premium. Some only apply to individual premiums such as collision or personal injury protection. Just because you may think you would end up receiving a 100% discount, it’s just not the way it works.

Auto insurance companies that have many of the previously listed discounts include:

It’s a good idea to ask each company or agent which discounts can lower your rates. Some of the earlier mentioned discounts might not be offered in your area.

Situations that may require an agent’s advice

When buying coverage for your personal vehicles, there really is no “perfect” insurance plan. Everyone’s situation is a little different and your policy should reflect that. For example, these questions can help discover if your insurance needs would benefit from professional advice.

  • Do I get a pro-rated refund if I cancel my policy early?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?
  • Should I have combined single limit or split liability limits?
  • Do I need an umbrella policy?
  • Can I make deliveries for my home business?
  • Can I afford to buy a different vehicle if my 2002 Volvo S40 is totaled?
  • What is PIP insurance?
  • Does medical payments coverage apply to all occupants?

If you don’t know the answers to these questions but a few of them apply, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form or you can go here for a list of companies in your area. It’s fast, free and can provide invaluable advice.

Car insurance coverage information

Having a good grasp of insurance helps when choosing the right coverages at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and coverage can change by endorsement. Shown next are the normal coverages available from insurance companies.

Coverage for uninsured or underinsured drivers – Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since a lot of 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 should not be overlooked. Normally these limits do not exceed the liability coverage limits.

Coverage for medical expenses – Med pay and PIP coverage provide coverage for expenses like ambulance fees, funeral costs, doctor visits, prosthetic devices and rehabilitation expenses. They are used in conjunction with a health insurance program or if there is no health insurance coverage. They cover all vehicle occupants and will also cover being hit by a car walking across the street. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage

Comprehensive insurance – Comprehensive insurance covers damage that is not covered by collision coverage. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims such as damage from a tornado or hurricane, damage from getting keyed, hitting a deer, damage from flooding and fire damage. The maximum payout your insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Liability auto insurance – This coverage protects you from injuries or damage you cause to people or other property. It protects YOU against other people’s claims. Liability doesn’t cover your injuries or vehicle damage.

It consists of three 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 means $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and a total limit of $50,000 for damage to vehicles and property. Another option is one limit called combined single limit (CSL) which combines the three limits into one amount with no separate limits for injury or property damage.

Liability insurance covers claims such as funeral expenses, pain and suffering, repair bills for other people’s vehicles and attorney fees. How much liability coverage do you need? That is up to you, but consider buying as high a limit as you can afford.

Collision coverage – This coverage covers damage to your S40 resulting from a collision with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things such as hitting a mailbox, rolling your car, colliding with another moving vehicle, scraping a guard rail and crashing into a building. Paying for collision coverage can be pricey, so consider dropping it from older vehicles. It’s also possible to bump up the deductible to get cheaper collision coverage.

Have money to burn

In this article, we presented quite a bit of information on how to shop for 2002 Volvo S40 insurance online. It’s most important to understand that the more times you quote, the better chance you’ll have of finding the cheapest car insurance. Consumers may even find the lowest priced insurance comes from an unexpected company. Smaller companies often have lower premium rates on specific markets compared to the large companies like Progressive and GEICO.

There are still a few companies who do not provide rate quotes online and usually these smaller providers only sell coverage through independent agencies. Budget-friendly insurance is attainable both online and from local agencies, so you should compare both in order to have the best price selection to choose from.

Additional insurance information can be found below: