2008 Volvo S60 Insurance Quotes – 6 Savings Tips

Searching for lower insurance rates for your Volvo S60? When looking for lower-priced insurance, are you frustrated by the sheer number of insurance companies? Many other drivers are too. You have so many companies to choose from that it can turn into a difficult challenge to find a more affordable company.

Finding the best rates is not rocket science. If you currently have a car insurance policy, you should be able to lower your premiums substantially using these methods. Although consumers do need to understand the way insurance companies market insurance on the web and use this information to your advantage.

The quickest method we recommend to compare insurance rates from multiple companies is to take advantage of the fact most of the larger companies actually pay money for the chance to compare their rates. All you need to do is provide information like how much coverage you want, if you lease or own, your education level, and any included safety features. Your insurance information is sent automatically to multiple different insurance companies and they return quotes quickly.

Why you might not save $459 a year

Companies like State Farm, Allstate and GEICO seem to constantly run television and radio advertisements. They all state the claim about saving some big amount if you move your insurance coverage coverage to their company. It sounds good, but how can they all claim to save you money? It’s all in the wording.

Companies give the cheapest rates for a prospective insured that will most likely be profitable. For instance, a desirable risk may be over the age of 35, insures multiple vehicles, and drives a lower-performance vehicle. Any customer who fits those characteristics receive the lowest rate quotes and as a result will probably save some money.

Consumers who are not a match for this ideal profile will probably have to pay a higher rate and this can result in the driver buying from a lower-cost company. The ads state “people that switch” not “everybody who quotes” save that much. That is how companies can truthfully advertise the way they do. This really emphasizes why drivers must do a quote comparison often. It’s impossible to know which insurance coverage company will fit you best based on your risk profile.

More discounts mean cheap premiums

Insurance can be prohibitively expensive, but companies offer discounts that you may not even know about. Most are applied at quote time, but some discounts are required to be inquired about prior to getting the savings.

  • Accident Forgiveness – This isn’t a discount exactly, but some insurance companies will allow you to have one accident before they charge you more for coverage with the catch being you have to be claim-free for a specific time period.
  • Anti-theft System – Vehicles that have factory alarm systems and tracking devices prevent vehicle theft and will save you 10% or more.
  • Bundled Policy Discount – When you combine your homeowners and auto insurance with one insurance company you could save approximately 10% to 15%.
  • Drive Safe and Save – Drivers who avoid accidents may save up to 50% more for S60 insurance as compared to drivers with claims.
  • Anti-lock Brakes – Cars equipped with ABS or steering control can avoid accidents and will save you 10% or more.
  • Government Employee Discount – Active or retired federal employment may reduce rates when you quote insurance coverage for S60 insurance with a few auto insurance companies.

It’s important to understand that most discount credits are not given to all coverage premiums. Most only reduce the price of certain insurance coverages like liability and collision coverage. So even though it sounds like having all the discounts means you get insurance for free, you’re out of luck. Any amount of discount will help lower the amount you have to pay.

Auto insurance companies that may offer policyholders these money-saving discounts possibly include:

When getting free insurance coverage quotes, it’s a good idea to each insurance company to apply every possible discount. Some discounts might not be offered in your area. For a list of companies that can offer you the previously mentioned discounts, click here.

It’s not one size fits all

When it comes to buying the right insurance coverage, there is no cookie cutter policy. Everyone’s situation is a little different.

Here are some questions about coverages that may help highlight whether your personal situation will benefit from professional help.

  • Why am I required to buy liability insurance?
  • Why am I be forced to buy a membership to get insurance from some companies?
  • Will my rates increase for filing one claim?
  • Do I get a pro-rated refund if I cancel my policy early?
  • What is PIP insurance?
  • Is business equipment covered while in my vehicle?
  • I don’t drive much so do I pay less?
  • Is pleasure use cheaper than using my 2008 Volvo S60 to commute?

If you don’t know the answers to these questions, you might consider talking to an insurance agent. If you want to speak to an agent in your area, take a second and complete this form.

Parts of your auto insurance policy

Having a good grasp of your policy helps when choosing the best coverages for your vehicles. Policy terminology can be confusing and nobody wants to actually read their policy.

Medical payments and PIP coverage

Coverage for medical payments and/or PIP pay for bills such as funeral costs, rehabilitation expenses, prosthetic devices and dental work. They are used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

UM/UIM (Uninsured/Underinsured Motorist) coverage

Your UM/UIM coverage provides protection when the “other guys” are uninsured or don’t have enough coverage. Covered losses include hospital bills for your injuries as well as damage to your Volvo S60.

Because many people carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Collision protection

Collision coverage will pay to fix damage to your S60 caused by collision with a stationary object or other vehicle. You first must pay a deductible and then insurance will cover the remainder.

Collision can pay for things such as colliding with a tree, hitting a parking meter, sideswiping another vehicle, backing into a parked car and driving through your garage door. This coverage can be expensive, so you might think about dropping it from vehicles that are older. Another option is to increase the deductible to bring the cost down.

Comprehensive auto coverage

Comprehensive insurance covers damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things like theft, vandalism and damage from flooding. The most your auto insurance company will pay is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Liability car insurance

This protects you from damage or injury you incur to other’s property or people that is your fault. This insurance protects YOU against claims from other people, and does not provide coverage for your own vehicle damage or injuries.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 100/300/100 which means $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000.

Liability can pay for claims like emergency aid, structural damage, bail bonds and funeral expenses. How much coverage you buy is your choice, but it’s cheap coverage so purchase higher limits if possible.

Coverage on a shoestring budget

We’ve covered many ways to compare 2008 Volvo S60 insurance prices online. The most important thing to understand is the more quotes you get, the more likely it is that you will get a better rate. Consumers could even find that the most savings is with a small local company.

Lower-priced 2008 Volvo S60 insurance is attainable from both online companies and from local insurance agents, so you need to quote insurance coverage with both so you have a total pricing picture. Some insurance companies don’t offer rates over the internet and usually these regional carriers only sell coverage through independent agencies.

As you restructure your insurance plan, it’s a bad idea to skimp on critical coverages to save a buck or two. There are many occasions where an insured cut liability limits or collision coverage only to discover later that the savings was not a smart move. The goal is to buy a smart amount of coverage at the best possible price, but do not skimp to save money.

Helpful learning opportunities