2002 Volvo S60 Insurance Cost – 9 Ways to Save

Trying to find the cheapest insurance rates for your Volvo S60? Finding cheaper Driversinsurance is always nearly impossible for drivers not familiar with online rate comparisons. Drivers have so many companies to choose from that it can be a difficult challenge to find more affordable insurance rates.

Shopping for more affordable auto insurance is easy if you know what you’re doing. Just about anyone who is shopping for auto insurance stands a good chance to be able to save money. But drivers must understand how companies sell online.

Cheaper auto insurance rates with discounts

Auto insurance companies don’t always list their entire list of discounts very clearly, so the list below gives a summary of both well-publicized as well as some of the hidden discounts that may be available. If you are not receiving all the discounts available, you are not getting the best rate possible.

• Paperwork-free – Many auto insurance companies will give you a small discount for buying your policy on their website.
• Defensive Driving Course – Taking a driver safety course may get you a small discount and easily pay for the cost of the class.
• Seat Belts Save more than Lives – Drivers who always wear seat belts and also require passengers to buckle their seat belts can save a little off the PIP or medical payment premium.
• Homeowners Pay Less – Being a homeowner may trigger a policy discount on auto insurance since owning and maintaining a home means you have a higher level of financial diligence.
• Passive Restraints – Factory options such as air bags or automatic seat belts may qualify for discounts as much as 30%.
• Discounts for Responsible Drivers – Safe drivers can save as much as half off their rates on S60 coverage than their less cautious counterparts.
• Professional Organizations – Participating in a qualifying organization can get you a small discount on your policy.
• Federal Government Employee – Being employed by or retired from a federal job may qualify for a discount when you quote auto insurance on S60 coverage but check with your company.
• Discount for Life Insurance – Select insurance companies reward you with a discount if you purchase some life insurance too.

Discounts save money, but please remember that some credits don’t apply to the entire policy premium. Most only reduce the price of certain insurance coverages like comprehensive or collision. Just because you may think you would end up receiving a 100% discount, it doesn’t quite work that way.

A few of the larger companies and some of their more popular discounts are included below.

• Geico discounts include emergency military deployment, seat belt use, five-year accident-free, defensive driver, anti-lock brakes, daytime running lights, and military active duty.
• USAA has discounts for vehicle storage, loyalty savings, annual mileage, safe driver, defensive driver, good student, and family discount.
• Progressive may include discounts for continuous coverage, good student, online quote discount, online signing, homeowner, multi-policy, and multi-vehicle.
• American Family policyholders can earn discounts including accident-free, TimeAway discount, air bags, defensive driver, and good driver.
• Esurance has savings for multi-car, defensive driver, online quote, renters, and good driver.
• Farmers Insurance offers premium reductions for early shopping, youthful driver, electronic funds transfer, business and professional, and multi-car.
• State Farm includes discounts for multiple autos, passive restraint, Drive Safe & Save, good driver, and safe vehicle.

When quoting, ask all companies you are considering how you can save money. Depending on the company, some discounts may not apply in your area. If you would like to choose from a list of companies offering auto insurance discounts, click here.

How to get cheap insurance coverage

Comparing insurance coverage rates is a ton of work if you don’t know the best way to get rate quotes. You can spend countless hours discussing policy coverages with local insurance agents in your area, or you could save time and use the internet to get prices fast.

Most car insurance companies participate in an industry program where insurance shoppers enter their policy data once, and each participating company can give them a price for coverage. This prevents consumers from doing quote forms for each company you want a rate for.

To compare pricing click here to start a free quote.

The one downside to doing it this way is you cannot specify the providers you want to price. So if you prefer to pick specific providers for rate comparison, we have a page of low cost insurance coverage companies in your area. Click to view list.

Whichever way you choose to compare rates, double check that you are using nearly identical coverage limits and deductibles for every quote you compare. If you have different limits and deductibles on each one it’s impossible to make a fair rate comparison. Just slight variations in insurance coverages or limits could mean much higher rates. And when quoting insurance coverage, remember that comparing more company’s prices gives you a better chance of getting more affordable rates. Not every company allows you to get online price quotes, so it’s recommended that you also compare price quotes from those companies as well.

Tailor your insurance coverage coverage to you

When it comes to buying the right insurance coverage for your vehicles, there is no “best” method to buy coverage. Coverage needs to be tailored to your specific needs.

These are some specific questions can help discover if your insurance needs might need an agent’s assistance.

• What if I owe more than I can insure my car for?
• Does having multiple vehicles earn me a discount?
• Am I covered when using my vehicle for business?
• How high should deductibles be on a 2002 Volvo S60?
• Do I have any recourse if my insurance company denies a claim?
• Do I get a pro-rated refund if I cancel my policy early?
• Will my insurance pay for OEM parts?
• Can I make deliveries for my home business?

If it’s difficult to answer those questions, you may need to chat with an insurance agent. To find lower rates from a local agent, fill out this quick form.

Auto insurance coverage information

Having a good grasp of a auto insurance policy helps when choosing the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be difficult to understand and coverage can change by endorsement.

Comprehensive insurance – Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive can pay for things like rock chips in glass, damage from getting keyed, theft and damage from flooding. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage provides protection from other motorists when they either have no liability insurance or not enough. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.

Since many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is very important. Normally your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Liability insurance – This coverage will cover damage that occurs to other’s property or people by causing an accident. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have limits of 25/50/25 which stand for a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and a total limit of $25,000 for damage to vehicles and property. Occasionally you may see a combined single limit or CSL which limits claims to one amount with no separate limits for injury or property damage.

Liability coverage protects against things like attorney fees, structural damage, medical services and repair costs for stationary objects. How much coverage you buy is up to you, but buy as large an amount as possible.

Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance reimburse you for expenses such as EMT expenses, funeral costs, doctor visits and chiropractic care. They are often utilized in addition to your health insurance plan or if you lack health insurance entirely. They cover you and your occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage

Collision coverage – This coverage pays for damage to your S60 resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims such as rolling your car, crashing into a building, driving through your garage door and colliding with a tree. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. Another option is to increase the deductible to save money on collision insurance.

More comparisons equals lower rates

Drivers leave their current company for many reasons like an unsatisfactory settlement offer, poor customer service, lack of trust in their agent and high rates after DUI convictions. Whatever your reason, finding a great new company can be less work than you think.

We just showed you a lot of information how to shop for 2002 Volvo S60 insurance online. The most important thing to understand is the more companies you get rates for, the better likelihood of getting affordable auto insurance. You may even find the lowest prices are with the least-expected company.

As you prepare to switch companies, do not skimp on critical coverages to save a buck or two. In too many instances, an insured dropped physical damage coverage only to regret at claim time that they should have had better coverage. The aim is to get the best coverage possible at the best possible price, but do not skimp to save money.

Additional information can be read below:

• Auto Insurance Basics (Insurance Information Insitute)
• Older Drivers FAQ (iihs.org)
• Auto Insurance FAQ (Farmers Insurance)
• Can I Drive Legally without Insurance? (Insurance Information Insitute)