Feel like you’re a prisoner to an expensive car insurance policy? Believe me when I say there are many consumers feeling the pinch from expensive car insurance.
Online insurance companies like Allstate and Progressive all claim big savings with TV and radio ads and it can be hard to sift through the bull and effectively compare rates to find the best deal.
Some insurers do not list all possible discounts in a way that’s easy to find, so the below list has a few of the more common as well as some of the hidden credits available to bring down your rates.
Consumers should know that some of the credits will not apply to the entire cost. Most only apply to specific coverage prices like comprehensive or collision. Just because it seems like you could get a free insurance coverage policy, nobody gets a free ride. Any qualifying discounts will lower your overall premium however.
Popular insurance coverage companies and a summarized list of policyholder discounts are included below.
Before buying, ask all the companies the best way to save money. Some of the discounts discussed earlier might not be offered in your area. To see insurance coverage companies that offer some of these discounts, follow this link.
It’s important that you understand some of the things that aid in calculating your insurance coverage rates. If you have a feel for what influences your rates, this helps enable you to make changes that may result in lower premium levels. Lots of things are taken into consideration when pricing auto insurance. Some of the criteria are obvious such as traffic violations, although some other factors are not as apparent like where you live or your commute time.
When choosing proper insurance coverage for your personal vehicles, there is no single plan that fits everyone. Every situation is different and a cookie cutter policy won’t apply. For example, these questions may help highlight if your insurance needs might need professional guidance.
If you can’t answer these questions, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area.
Having a good grasp of your insurance policy aids in choosing appropriate coverage and proper limits and deductibles. Insurance terms can be difficult to understand and reading a policy is terribly boring. Shown next are typical coverage types found on the average insurance policy.
Collision insurance
Collision insurance will pay to fix damage to your V70 resulting from a collision with a stationary object or other vehicle. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for claims such as scraping a guard rail, hitting a parking meter, sustaining damage from a pot hole, sideswiping another vehicle and rolling your car. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. Another option is to raise the deductible in order to get cheaper collision rates.
Insurance for medical payments
Coverage for medical payments and/or PIP kick in for immediate expenses like X-ray expenses, EMT expenses, rehabilitation expenses, ambulance fees and dental work. They can be utilized in addition to your health insurance plan or if you do not have health coverage. They cover all vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage
Liability auto insurance
This coverage will cover damages or injuries you inflict on people or other property that is your fault. It protects YOU from legal claims by others. It does not cover damage sustained by your vehicle in an accident.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 100/300/100 which stand for a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery.
Liability can pay for claims like court costs, funeral expenses, pain and suffering and medical expenses. How much liability coverage do you need? That is a decision to put some thought into, but buy as high a limit as you can afford.
Comprehensive coverage (or Other than Collision)
This will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive can pay for claims such as rock chips in glass, damage from getting keyed and a tree branch falling on your vehicle. The highest amount your insurance company will pay is the actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Uninsured Motorist or Underinsured Motorist insurance
This coverage protects you and your vehicle when the “other guys” do not carry enough liability coverage. This coverage pays for injuries to you and your family and also any damage incurred to your Volvo V70.
Since a lot of drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked.
When buying insurance coverage, do not skimp on critical coverages to save a buck or two. There are many occasions where someone sacrificed liability limits or collision coverage and learned later that they should have had better coverage. Your focus should be to buy a smart amount of coverage at the best price, not the least amount of coverage.
Low-cost 2003 Volvo V70 insurance is definitely available on the web as well as from insurance agents, so you need to quote insurance coverage with both in order to have the best chance of saving money. Some insurance companies may not provide the ability to get a quote online and usually these regional carriers work with local independent agents.
In this article, we presented quite a bit of information on how to reduce 2003 Volvo V70 insurance rates online. The key concept to understand is the more price quotes you have, the higher your chance of finding inexpensive insurance coverage. Consumers could even find that the best rates are with a small mutual company. Regional companies may often insure only within specific states and give getter rates compared to the large companies like State Farm and Allstate.
Even more information can be read at these sites: