2002 Volvo V70 Car Insurance Quotes – 7 Tips for Cheaper Rates

Paying for expensive Volvo V70 insurance can take a big chunk out of your savings account and make it impossible to make ends meet. Performing a price comparison can help to reduce premiums and put more money in your pocket.

People have many insurers to purchase coverage from, and although it’s a good thing to have a selection, more choices can make it harder to adequately compare rates.

These seven discounts can lower car insurance rates

Some providers don’t always publicize all their discounts very well, so we researched some of the best known and also the more inconspicuous credits that you can use to lower your rates.

  • Passive Restraints – Factory air bags can receive discounts of 20 to 30 percent.
  • Renewal Discounts – A few insurance companies give discounts for signing up prior to your current policy expiring. It’s a savings of about 10%.
  • Full Payment Discount – By making one initial payment rather than paying monthly you can avoid monthly service charges.
  • ABS and Traction Control Discounts – Cars and trucks equipped with ABS or steering control have fewer accidents and the ABS can save up to 10%.
  • Discount for Life Insurance – Larger insurance carriers have a small discount if you purchase some life insurance too.
  • Driver Training Discounts – Taking part in a defensive driving class can save you 5% or more and easily recoup the cost of the course.
  • Membership in Organizations – Belonging to certain professional organizations is a simple method to lower premiums on your bill.

A little disclaimer on discounts, most of the big mark downs will not be given to the entire policy premium. Most cut specific coverage prices like medical payments or collision. Despite the appearance that you can get free auto insurance, companies don’t profit that way.

To see a list of insurance companies that have a full spectrum of discounts, click here.

Cheapest car insurance quotes

When shopping for car insurance there are multiple ways to obtain and compare prices from many available car insurance companies in your state. The best method to compare rates is to jump online and get quotes. It is quite easy and can be accomplished in several different ways.

  1. Without a doubt, the easiest way consumers can make multiple comparisons is an all-inclusive rate comparison (click to open form in new window). This method keeps you from doing separate quote forms for each company you want a rate for. Completing one form gets insurance cost estimates instantly.
  2. A more difficult way to find lower rates is to take the time to go to the website for every company you want to comare and fill out a new quote form. For sake of this example, let’s say you want to get rates from Liberty Mutual, GEICO and Travelers. To get rate quotes you would need to visit each site and repeatedly type in your coverage information, which is not fast way to get rate quotes. To view a list of companies in your area, click here.
  3. The hardest way to find cheaper rates is to waste gas driving to each insurance agency near you. The fact that you can get quotes online eliminates this option unless you prefer the professional guidance of a local agency. Drivers can get prices online and still use a local agent.

It’s up to you which method you use, but double check that you are using exactly the same coverages and limits for each price quote. If you enter unequal deductibles or liability limits it will be impossible to make an equal comparison. Quoting even small variations in coverage limits could skew the results. And when comparison shopping, comparing more company’s prices gives you a better chance of getting a lower rate.

When do I need an agent’s advice?

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

  • Is other people’s property covered if stolen from my vehicle?
  • Can I still get insurance after a DUI?
  • Should I have a commercial auto policy?
  • Do I have any recourse if my insurance company denies a claim?
  • Am I covered by my spouse’s policy after a separation?
  • When should I drop full coverage on my 2002 Volvo V70?
  • Can my babysitter drive my car?

If you’re not sure about those questions but you think they might apply to your situation, you might consider talking to an agent. To find lower rates from a local agent, fill out this quick form or click here for a list of auto insurance companies in your area.

The ad said I’d save $418 a year!

Respected companies like Progressive, GEICO, Allstate and State Farm regularly use ads on TV and radio. All the ads tend to make the same promise of big savings just by switching your insurance policy to them. But how can every company make the same claim? Here is how they do it.

Different companies offer their best rates for the driver that is profitable for them. A good example of a desirable insured may need to be a mature driver, carries high limits, and drives less than 5,000 miles a year. Any customer who fits that profile will most likely get cheap prices and will also save quite a bit of money when switching.

Drivers who do not match this ideal profile may receive higher rates and this can result in the driver buying from a lower-cost company. If you pay attention, the ads say “customers that switch” not “everybody who quotes” can get the lowest rates when switching. This is how insurance companies can make those claims.

Because of the profiling, drivers must get insurance quotes as often as possible. It’s just too difficult to predict with any certainty which company will provide you with the cheapest car insurance rates.

Car insurance 101

Learning about specific coverages of auto insurance can help you determine the right coverages at the best deductibles and correct limits. Auto insurance terms can be difficult to understand and even agents have difficulty translating policy wording. Below you’ll find the normal coverages found on most auto insurance policies.

Coverage for medical expenses

Medical payments and Personal Injury Protection insurance provide coverage for expenses for things like doctor visits, pain medications and nursing services. They are often used to fill the gap from your health insurance program or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers being hit by a car walking across the street. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay

Coverage for uninsured or underinsured drivers

This protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as damage to your Volvo V70.

Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea. Most of the time these limits are similar to your liability insurance amounts.

Collision coverage protection

Collision insurance pays to fix your vehicle from damage caused by collision with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.

Collision can pay for claims such as sustaining damage from a pot hole, scraping a guard rail and sideswiping another vehicle. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. Another option is to choose a higher deductible to bring the cost down.

Comprehensive auto insurance

This coverage pays for damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things like damage from flooding, damage from getting keyed, damage from a tornado or hurricane and fire damage. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Liability coverages

Liability insurance can cover damage that occurs to other’s property or people by causing an accident. Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 50/100/50 which stand for a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000. Alternatively, you may have one number which is a combined single limit which provides one coverage limit with no separate limits for injury or property damage.

Liability coverage pays for things such as court costs, attorney fees and pain and suffering. How much liability should you purchase? That is a personal decision, but buy higher limits if possible.

Final considerations

We just showed you many tips how you can save on 2002 Volvo V70 insurance. The key concept to understand is the more times you quote, the better chance you’ll have of finding inexpensive insurance. Consumers could even find that the best prices are with a lesser-known regional company. These smaller insurers may have significantly lower rates on certain market segments than the large multi-state companies such as State Farm and Allstate.

When buying insurance coverage, it’s a bad idea to skimp on coverage in order to save money. There have been many situations where someone sacrificed uninsured motorist or liability limits only to discover later they didn’t have enough coverage. Your strategy should be to find the BEST coverage for the lowest price but still have enough coverage for asset protection.

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