How Much Does 2002 Volvo S60 Insurance Cost?

Wish you could get a refund on an overpriced auto insurance policy? Don’t feel bad because you are not the only one feeling buyer’s remorse. Many auto insurance companies compete for your insurance dollar, and it can be difficult to compare rates and get the definite lowest rate

If you have a policy now or are shopping for new coverage, you can use this information to find the best rates while maximizing coverage. Finding affordable coverage is not rocket science. Vehicle owners just need to learn the proper way to get comparison quotes online.

The quickest way to get rate comparisons takes advantage of the fact auto insurance companies allow for online access to give rate comparisons. To get started, all you need to do is give the companies some data such as level of coverage desired, how you use your vehicles, how much you drive, and whether you are single or married. The data is instantly submitted to many of the top insurers and you will get price comparisons with very little delay.

If you wish to get multiple quotes for your 2002 Volvo S60 now, click here and see if a lower rate is available.

Get affordable rates with these discounts

Some insurance providers do not list the complete list of policy discounts in a way that’s easy to find, so here is a list a few of the more well known and also the lesser-known auto insurance savings. If you’re not getting every credit you deserve, you could be getting lower rates.

  • Distant Student – College-age children living away from home attending college and do not take a car to college may qualify for this discount.
  • Drive Safe and Save – Drivers who don’t get into accidents could pay up to 40% less on S60 insurance compared to rates paid by drivers with frequent claims.
  • Club Memberships – Joining specific professional or occupational memberships or organizations could trigger savings when shopping for auto insurance.
  • Passive Restraints – Vehicles equipped with air bags and/or automatic seat belt systems can receive discounts up to 30%.
  • Bundled Policy Discount – If you insure your home and vehicles and insure them with the same company you may earn up to 20% and get you the cheapest car insurance.
  • Multiple Cars – Drivers who insure primary and secondary vehicles on one policy could earn a price break for each car.

A little note about advertised discounts, some credits don’t apply to the entire policy premium. Most only cut specific coverage prices like medical payments or collision. Even though the math looks like adding up those discounts means a free policy, auto insurance companies aren’t that generous. But any discount will reduce your policy premiums.

A few of the larger companies and a partial list of their discounts are:

  • State Farm may include discounts for accident-free, passive restraint, multiple policy, safe vehicle, Steer Clear safe driver discount, and Drive Safe & Save.
  • Liberty Mutual has savings for newly married, hybrid vehicle, multi-policy, new move discount, and safety features.
  • American Family includes discounts for good student, bundled insurance, accident-free, Steer into Savings, air bags, good driver, and mySafetyValet.
  • Progressive policyholders can earn discounts including multi-vehicle, online signing, continuous coverage, homeowner, and good student.
  • Farmers Insurance offers discounts for early shopping, youthful driver, mature driver, alternative fuel, and teen driver.
  • Auto-Owners Insurance offers premium reductions for company car, paid in full, multi-policy, anti-theft, and anti-lock brakes.
  • SAFECO offers discounts including teen safe driver, multi-car, homeowner, anti-theft, anti-lock brakes, and drive less.

Before you buy a policy, ask every company which discounts can lower your rates. A few discounts might not apply in every state. To see companies that have a full spectrum of discounts, follow this link.

Insurance can be complex

When it comes to choosing the best insurance coverage, there really is no best way to insure your cars. Everyone’s situation is a little different so your insurance needs to address that. Here are some questions about coverages that might point out if your situation might need an agent’s assistance.

  • Does my liability insurance cover pulling a trailer or camper?
  • Am I covered when driving someone else’s vehicle?
  • What discounts do I qualify for?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • Do I need replacement cost coverage on my 2002 Volvo S60?
  • Can I still get insurance after a DUI?
  • Why am I required to buy high-risk coverage?
  • How much can I save by bundling my policies?

If it’s difficult to answer those questions but you think they might apply to your situation, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, simply complete this short form or go to this page to view a list of companies. It is quick, free and may give you better protection.

Six tips to get lower-cost insurance rates

Lots of things are part of the equation when premium rates are determined. Some are pretty understandable like an MVR report, although others are more transparent like where you live or how financially stable you are.

  • High credit saves on car insurance – Having a bad credit score is likely to be a major factor in your rate calculation. So if your credit rating leaves room for improvement, you could save money insuring your 2002 Volvo S60 by improving your credit score. People that have very good credit scores tend to file fewer claims than drivers with lower credit ratings.
  • City dwellers may pay more – Residing in smaller towns and rural areas of the country has definite advantages when trying to find low car insurance rates. Fewer people means a lower chance of having an accident in addition to fewer liability claims. Residents of big cities tend to have more road rage incidents and higher rates of accident claims. Spending more time driving means higher likelihood of an accident.
  • Being married can save on car insurance – Your spouse helps lower the price compared to being single. Having a significant other translates into being more mature and insurance companies like that married drivers tend to file fewer claims.
  • Do you qualify for a multi-policy discount? – Lots of companies provide a discount to people who consolidate policies with them such as combining an auto and homeowners policy. Even with this discount applied, you still need to get quotes from other companies to guarantee you are still saving the most.There is a chance you can save even more by insuring with multiple companies.
  • Don’t abuse claims – Companies give cheaper rates to insureds who are claim-free. If you frequently file small claims, you can pretty much guarantee higher rates. Your car insurance is intended to be relied upon for larger claims.
  • Careless drivers pay higher prices – Having a clean driving record impacts premiums far more than you think. Just one ticket can increase the cost of insurance twenty percent or more. Attentive drivers pay less for auto insurance compared to bad drivers. Drivers who have gotten license-revoking violations such as DUI or reckless driving might be required by their state to file a SR-22 to the state department of motor vehicles in order to prevent their license from being revoked.

Does auto insurance advertising bend the truth?

Drivers can’t get away from all the ads that promise big savings for switching from the likes of State Farm, GEICO and Progressive. All the companies have a common claim that drivers will save a bundle if you change your coverage.

It sounds good, but how can they all lower your prices? It’s all in the words they use.

Insurance providers provide the lowest rates for the type of insured that earns them the most money. A good example of a profitable insured might be described as married and over the age of 30, has never had a policy lapse, and drives newer vehicles. Any customer that meets those criteria will get the preferred rates and as a result will probably save a lot if they switch.

Drivers who don’t qualify for these stringent criteria must pay higher prices with the end result being business going elsewhere. If you pay attention, the ads say “customers that switch” not “everyone that quotes” can save as much as they claim. That’s the way insurance companies can confidently advertise the savings.

Each company has different criteria, so you really need to compare quotes as often as possible. It’s impossible to know which company will fit your personal profile best.

Insurance policy coverages for a 2002 Volvo S60

Learning about specific coverages of insurance can help you determine the best coverages and the correct deductibles and limits. The terms used in a policy can be impossible to understand and reading a policy is terribly boring. These are typical coverages offered by insurance companies.

Collision protection

This coverage pays for damage to your S60 from colliding with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.

Collision coverage protects against claims such as sustaining damage from a pot hole, hitting a mailbox and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. You can also increase the deductible to save money on collision insurance.

Comprehensive insurance

Comprehensive insurance pays for damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things such as rock chips in glass, damage from flooding and vandalism. The maximum amount your insurance company will pay is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Coverage for medical expenses

Coverage for medical payments and/or PIP provide coverage for expenses for nursing services, hospital visits, pain medications and prosthetic devices. They can be used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. It covers all vehicle occupants and also covers getting struck while a pedestrian. PIP coverage is not an option in every state and gives slightly broader coverage than med pay

Coverage for uninsured or underinsured drivers

Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your Volvo S60.

Due to the fact that many drivers only carry the minimum required liability limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Usually these limits are identical to your policy’s liability coverage.

Liability auto insurance

This protects you 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.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 50/100/50 that translate to $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. Another option is 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 claims such as medical services, bail bonds, legal defense fees and medical expenses. How much liability should you purchase? That is up to you, but buy as high a limit as you can afford.

Never pay more for less

Lower-priced 2002 Volvo S60 insurance is definitely available from both online companies and from local insurance agents, and you need to price shop both to have the best rate selection. There are still a few companies who may not provide online quoting and these small insurance companies only sell coverage through local independent agencies.

When buying insurance coverage, it’s a bad idea to skimp on critical coverages to save a buck or two. In many cases, someone dropped comprehensive coverage or liability limits and discovered at claim time they didn’t have enough coverage. The ultimate goal is to get the best coverage possible at the best price, but don’t skip important coverages to save money.

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