Trying to come up with a payment for overpriced auto insurance can dwindle your savings account and force you to make tough financial choices. Performing a price comparison is an excellent way to cut your insurance bill.
With so many options, it can be hard to choose a more affordable auto insurance company.
There are multiple methods you can shop for insurance coverage but one way is easier and takes less work. You can waste a few hours (or days) talking to agents in your area, or you could save time and use online quoting for quick rates.
Most of the larger companies belong to an insurance system where prospective buyers send in one quote, and every company then returns a price quote based on that data. This prevents consumers from doing form submissions for each company you want a rate for.
To fill out one form to compare multiple rates now click here (opens in new window).
One minor caviat to pricing coverage this way is that you can’t choose the insurers you will receive quotes from. If you would rather choose specific insurance companies to request quotes from, we put together a list of the cheapest insurance coverage companies in your area. Click to view list.
Whichever way you choose to compare rates, make darn sure you compare the same coverage limits for each comparison quote. If your comparisons have different deductibles you can’t possibly determine the lowest rate for your Volvo XC90. Just slight variations in limits can result in a big premium difference. And when comparison shopping, having more price comparisons will increase your chances of finding the best offered rates.
The price of auto insurance can be rather high, but you may be missing some discounts that could help you make your next renewal payment. Larger premium reductions will be automatically applied when you get a quote, but occassionally some discounts must be requested specifically before being credited.
One last thing about discounts, most of the big mark downs will not be given to all coverage premiums. Some only reduce the price of certain insurance coverages like liability and collision coverage. So when it seems like adding up those discounts means a free policy, you’re out of luck.
Larger car insurance companies and some of the premium reductions they offer are outlined below.
When comparing rates, check with each insurance company what discounts are available to you. Discounts might not apply in your area. If you would like to choose from a list of insurers who offer cheap car insurance quotes, click this link.
An important part of buying insurance is that you know the rating factors that help determine your policy premiums. If you have some idea of what controls the rates you pay, this helps enable you to make changes that may result in big savings. Lots of things are taken into consideration when you get a price on insurance. A few of the factors are predictable such as traffic violations, but other criteria are more obscure such as your marital status or your commute time.
Shown below are some of the most common factors that factor into your prices.
When it comes to choosing coverage, there isn’t really a “perfect” insurance plan. Everyone’s situation is a little different and your policy should reflect that. Here are some questions about coverages that may help highlight whether or not you might need an agent’s assistance.
If you can’t answer these questions but one or more may apply to you, you may need to chat with an insurance agent. If you want to speak to an agent in your area, simply complete this short form or go to this page to view a list of companies.
Insurance providers like Allstate, GEICO and Progressive seem to constantly run ads on TV and radio. All the companies have a common claim that you can save if you move to them. How is it possible that every company can sell you cheaper insurance coverage? Just pay attention to how they say it.
All companies give the best rates for the type of driver that earns them a profit. For instance, a desirable insured could be between the ages of 40 and 55, has never had a policy lapse, and does not commute to work. Any driver who matches that profile will get low premium rates and therefore will cut their rates substantially.
Consumers who do not fit this stringent profile will be charged higher rates which leads to the customer buying from someone else. The trick is to say “customers that switch” not “all people who quote” save that much money. That’s why companies can truthfully make the claims of big savings.
Because of these techniques, drivers should compare price quotes frequently. It’s impossible to know which company will have the lowest rate quotes.
Knowing the specifics of your auto insurance policy can be of help when determining appropriate coverage at the best deductibles and correct limits. Policy terminology can be ambiguous and even agents have difficulty translating policy wording. Below you’ll find typical coverages available from auto insurance companies.
Liability auto insurance
This protects you from damage that occurs to a person or their property. It protects YOU from legal claims by others, and doesn’t cover your own vehicle damage or injuries.
Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 100/300/100 that translate to a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000. Alternatively, you may have one number which is a combined single limit which provides one coverage limit without having the split limit caps.
Liability coverage pays for claims like legal defense fees, attorney fees and repair bills for other people’s vehicles. How much coverage you buy is your choice, but buy as large an amount as possible.
Coverage for uninsured or underinsured drivers
This coverage gives you protection from other motorists when they either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your Volvo XC90.
Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family. Most of the time the UM/UIM limits are identical to your policy’s liability coverage.
Coverage for medical expenses
Med pay and PIP coverage provide coverage for bills like prosthetic devices, nursing services and chiropractic care. They are often utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants and also covers being hit by a car walking across the street. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage
This covers damage to your XC90 resulting from a collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.
Collision can pay for claims like sideswiping another vehicle, backing into a parked car and colliding with another moving vehicle. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. Another option is to increase the deductible to get cheaper collision coverage.
Comprehensive auto insurance
Comprehensive insurance coverage pays for damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things like fire damage, damage from flooding, theft and hail damage. The highest amount a auto insurance company will pay at claim time is the market value of your vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
We covered many ideas to shop for 2004 Volvo XC90 insurance online. The key thing to remember is the more price quotes you have, the better likelihood of getting affordable insurance. Drivers may discover the best price on insurance coverage is with an unexpected company. Regional companies may often insure only within specific states and give getter rates as compared to the big name companies such as Allstate or State Farm.
When buying insurance coverage, it’s not a good idea to buy less coverage just to save a little money. In many cases, someone dropped full coverage only to discover later they didn’t purchase enough coverage. Your focus should be to buy enough coverage for the lowest price while still protecting your assets.
Additional insurance coverage information is available on the following sites: