How Much Does 2008 Volvo S40 Insurance Cost?

Are you at wits end from not being able to scrape enough together to insure your Volvo every month? You have the same problem as most other vehicle owners. Vehicle owners have many auto insurance companies to purchase coverage from, and though it is a good thing to have multiple companies, it makes it harder to locate the cheapest rates.

Buying car insurance is easy if you know what you’re doing. If you have car insurance now, you should be able to lower your premiums substantially using these tips. Consumers only need to know how to compare prices online.

The best way we recommend to compare car insurance company rates is to understand most of the larger companies will pay a fee to quote your coverage. To get started, all you need to do is provide a small amount of information including if you have an active license, how your vehicles are used, if you require a SR-22, and if it has an anti-theft system. Your insurance information is submitted instantly to insurance carriers in your area and they return cost estimate immediately.

If you would like to compare rates now, click here and find out if you can get cheaper insurance.

Truth in insurance coverage advertising

Consumers can’t ignore all the ads that promise big savings by GEICO, State Farm and Progressive. They all seem to seem to make the promise that drivers will save a bundle if you get a free insurance quote and switch your coverage.

How does every company save you money? It’s all in the numbers.

Different companies have underwriting criteria for the type of insured that earns them a profit. One example of a profitable risk profile might be a married male, has no driving citations, and chooses high deductibles. A customer that matches those criteria will probably get the lowest car insurance rates and will most likely save money with a new company.

Potential insureds who do not fit the “perfect” profile may receive a higher rate and this results in business going elsewhere. If you listen closely, the ads state “customers who switch” not “everyone that quotes” can save as much as they claim. This is how insurance companies can advertise the savings. Because of the profiling, it is so important to compare quotes as often as possible. It’s just too difficult to predict which company will have the lowest rate quotes.

Insurance price influencing factors

Many different elements are used in the calculation when pricing auto insurance. A few of the factors are predictable like your driving record, although others are not quite as obvious like your continuous coverage or your commute time.When buying auto insurance it’s important to understand the factors that play a part in calculating your premiums. If you know what determines premiums, this helps enable you to make changes that can earn you cheaper rates.

Shown below are just a few of the factors companies use to determine your prices.

  • High stress vocation may mean higher premiums – Did you know your job can affect your rates? Careers such as military personnelpolice officers and accountants tend to pay higher premium rates in part from job stress and lengthy work days. On the other hand, occupations such as farmers, athletes and homemakers generally pay rates lower than average on S40 coverage.
  • Amount of liability protection – The liability section of your policy will provide protection when you are determined to be liable for causing damage or personal injury in an accident. It provides for a legal defense which can cost thousands of dollars. Liability insurance is quite affordable when compared with rates for comp and collision, so buy as much as you can afford.
  • Deter vehicle theft – Owning a car with a theft deterrent system can help bring down rates. Advanced theft deterrents such as GM’s OnStar, tamper alarm systems and vehicle immobilizers can help prevent auto theft and help lower rates.
  • Five star crash test rating saves money – Cars with high safety ratings tend to have lower insurance rates. Vehicles engineered for safety have better occupant injury protection and reduced instances of injuries means less claims paid passed on to you as lower rates. If your Volvo S40 scored at minimum four stars on Safercar.gov you may be receiving a better rate.
  • Married people drive safer – Having a wife or husband may save some money when buying auto insurance. Marriage is viewed as being more mature than a single person and statistics show married couples file fewer claims.
  • Do you really need to file that insurance claims? – Auto insurance companies award cheaper rates to people who only file infrequent claims. If you file claims often, you can definitely plan on higher rates. Insurance coverage is intended to be relied upon for larger claims.
  • Premiums are lower the older you get – Older people are viewed as being more responsible, tend to file fewer claims .Beginning drivers are proven to get distracted easily when behind the wheel therefore auto insurance rates are much higher.
  • Drive lots and pay more – The more you drive your Volvo each year the higher your rates will be. A lot of insurance companies calculate prices based upon how the vehicle is primarily used. Vehicles that sit idle most of the time get more affordable rates than those used for commuting. An improperly rated S40 may be costing you higher rates. Double check that your auto insurance coverage reflects the right rating data, because it can save money.

Slash your insurance coverage rates with discounts

Some providers do not advertise their entire list of discounts in an easy-to-find place, so the list below details a few of the more common and the more hidden credits that may apply to you.

  • Defensive Driving Course – Taking a course teaching defensive driving skills is a good idea and can lower rates and easily recoup the cost of the course.
  • Service Members Pay Less – Having an actively deployed family member could mean lower premium rates.
  • Anti-lock Brake System – Vehicles that have steering control and anti-lock brakes can stop better under adverse conditions and will save you 10% or more.
  • Early Renewal Discounts – Some insurance coverage companies give discounts for renewing your policy prior to the expiration date on your current policy. This discount can save up to 10%.
  • Accident-Free Discounts – Good drivers with no accidents get the best insurance coverage rates as compared to drivers who are more careless.
  • Pay Upfront and Save – By paying your entire bill at once as opposed to paying monthly you can actually save on your bill.

You should keep in mind that many deductions do not apply to the entire policy premium. A few only apply to the cost of specific coverages such as liability and collision coverage. So even though you would think adding up those discounts means a free policy, company stockholders wouldn’t be very happy. But all discounts should help lower your insurance coverage premiums.

A few popular companies and their possible discounts are included below.

  • State Farm offers discounts including multiple policy, safe vehicle, anti-theft, multiple autos, good student, Steer Clear safe driver discount, and student away at school.
  • Esurance may have discounts that include DriveSense, paid-in-full, homeowner, anti-theft, and online shopper.
  • Progressive has discounts for multi-policy, online quote discount, good student, online signing, multi-vehicle, and homeowner.
  • Liberty Mutual has savings for newly retired, safety features, new move discount, preferred payment discount, and teen driver discount.
  • Auto-Owners Insurance discounts include company car, good student, group or association, air bags, teen driver, and mature driver.
  • GEICO offers premium reductions for multi-vehicle, daytime running lights, anti-theft, anti-lock brakes, and five-year accident-free.

If you need affordable insurance quotes, ask each insurance company to apply every possible discount. Some discounts may not apply to policies in every state. For a list of insurers who offer discounts, click here.

You are unique and your insurance coverage should be too

When choosing coverage, there really is not a “best” method to buy coverage. Everyone’s needs are different so your insurance needs to address that. Here are some questions about coverages that could help you determine if your insurance needs could use an agent’s help.

  • Is borrowed equipment or tools covered if stolen or damaged?
  • Does medical payments coverage apply to all occupants?
  • What is PIP insurance?
  • What happens if I owe more than my 2008 Volvo S40 is worth?
  • Is my teenager covered with friends in the car?
  • Am I covered when pulling a rental trailer?
  • Can I afford low physical damage deductibles?
  • How much liability insurance is required?
  • I have a DUI can I still get coverage?
  • What is roadside assistance coverage?

If you’re not sure about those questions but you know they apply to you, you might consider talking to an agent. To find an agent in your area, take a second and complete this form or click here for a list of insurance coverage companies in your area. It only takes a few minutes and can help protect your family.

Auto insurance 101

Understanding the coverages of your policy can help you determine the best coverages and the correct deductibles and limits. Auto insurance terms can be ambiguous and coverage can change by endorsement. Listed below are the normal coverages found on the average auto insurance policy.

Comprehensive coverages – This pays for damage from a wide range of events other than collision. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive can pay for claims such as a tree branch falling on your vehicle, rock chips in glass and vandalism. The maximum payout a auto insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

Uninsured and underinsured coverage – This provides protection when other motorists do not carry enough liability coverage. This coverage pays for injuries to you and your family and damage to your Volvo S40.

Since a lot of drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. So UM/UIM coverage should not be overlooked.

Collision – Collision insurance pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. A deductible applies then your collision coverage will kick in.

Collision insurance covers things such as crashing into a building, hitting a parking meter, backing into a parked car, sideswiping another vehicle and scraping a guard rail. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. Another option is to bump up the deductible to save money on collision insurance.

Auto liability insurance – Liability coverage protects you from damages or injuries you inflict on other’s property or people in an accident. It protects you against other people’s claims. It does not cover your injuries or vehicle damage.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property.

Liability insurance covers claims like attorney fees, legal defense fees and medical services. How much liability coverage do you need? That is a decision to put some thought into, but it’s cheap coverage so purchase as large an amount as possible.

Coverage for medical payments – Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses such as surgery, doctor visits and rehabilitation expenses. The coverages can be used to cover expenses not covered by your health insurance plan or if you do not have health coverage. Coverage applies to all vehicle occupants in addition to any family member struck as a pedestrian. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Don’t throw your cash in the trash

We just covered some good ideas how you can get a better price on 2008 Volvo S40 insurance. It’s most important to understand that the more companies you get premium rates for, the better chance you’ll have of finding cheap insurance. Drivers may discover the most savings is with a lesser-known regional company. Smaller companies may only write in your state and offer lower premium rates than their larger competitors like State Farm, GEICO and Nationwide.

As you go through the steps to switch your coverage, it’s not a good idea to reduce needed coverages to save money. Too many times, someone dropped physical damage coverage to discover at claim time that the savings was not a smart move. The goal is to buy the best coverage you can find at an affordable rate.

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Comments About 2008 Volvo S40 Insurance

  1. Robin Bauer

    I’ve insured with State Farm for a long time. Pretty cheap in Springfield, MA.

  2. Ethel May

    I live east of Cincinnati, OH. Quoted with AIG Insurance, Sentry, and a few others for my S40 and saved just over $300 a year. I even had a DUI years ago. I used their website to get prices.

  3. Herma Boone

    Cheap car insurance? What’s that? Located in Kansas City, Kansas. Got car insurance prices from Travelers, AIG Insurance, The General, and Safeco for my 2008 Volvo S40 and saved $143 a year. God forbid I actually have a claim.

  4. Randall Medina

    I found pretty cheap rate quotes for a 2008 Volvo S40 in Tucson, AZ. Ended up at darn near $180 every six months with AAA. Left Travelers to switch. Hopefully won’t need it.

  5. Delaine Erickson

    I got decent rates for a 2008 Volvo S40 in Des Moines, Iowa. Ended up at darn near $230 every six months with Auto-Owners. Thankfully I’m not a high risk driver. Wish I didn’t have to insure at all.

  6. Keneth Gross

    Hope my rates come down. I’m in Tampa, FL. I got free rates from Hanover, AAA, Sentry, and a couple others for my Volvo and I think I saved around $40 each month. Was with The General. BTW speeding tickets are not good.

  7. Jaclyn Schmidt

    I’m in the south part of Newark, New Jersey. I compared lots of rates. Saved roughly $60 a month. State Farm was the cheapest option for me.

  8. Evelin Arnold

    I live in a small town just outside of Jersey City, NJ. Checked online prices for a 2008 Volvo S40. Ended up at about $120 savings annually. Went with Allstate. Even increased coverage a bit.

  9. Jerrod Simpson

    I got a good deal I think. I’m just south of Cedar Rapids, IA. I don’t recall every quote but I ended up saving about $50 each month.

  10. Concepcion Wheeler

    I live just outside Columbus, Ohio. I quoted with GEICO, American Family, and some I forget for my 2008 Volvo S40 and saved $219 a year. Left Mercury to switch.

  11. Elias Schmidt

    I live in a small town just outside of Fargo, North Dakota. I got free prices from Sentry, Esurance, GEICO, and Amica for my Volvo and saved about $130 a year. Was with Amica. Good savings if you bundle. Just go online and compare their rates.

  12. Sharie Aguilar

    Here’s what I found out. From west side of Warren, MI. Quoted with Auto-Owners, Safeco, and Western Auto Insurance for my 2008 Volvo S40 and I think I cut my rates about $30 each month. Was with Eastwood. I have a teen driver too. It never hurts to quote around.

  13. Walton Emerson

    If you don’t have tickets and live near Bridgeport, Connecticut, check out Allstate. I saved quite a bit.

  14. Stephane Grimes

    Will State Farm raise rates for a rock chip claim?

  15. Nichelle Orr

    Does State Farm insure after a DUI?

  16. Cordell Pickett

    Thanks for putting this site together. I’m just south of Chesapeake, VA. Got car insurance prices from Progressive, AAA, and Esurance for my 2008 Volvo S40 and saved just over $480 a year. Insured with Travelers before. It’s easy to compare rates online now.