2009 Volvo V70 Insurance Rates

Feel like you have an overpriced insurance policy? Say no more because there are many people just like you.

Since people have many online and local companies to choose from, it can be hard to pick the lowest price insurance provider.

Informed consumers can lower their insurance prices

Consumers need to have an understanding of a few of the rating criteria that come into play when calculating car insurance rates. When you know what positively or negatively determines base rates, this enables informed choices that may result in big savings.

• Liability protection risk factors in – Liability coverage is the coverage that protects you when you are found to be at fault for physical damage or personal injury to other. It provides for a legal defense to defend your case. Carrying liability coverage is mandatory and cheap compared to comp and collision, so insureds should have plenty of protection for their assets.
• Accidents will cost you – Attentive drivers tend to pay less for car insurance compared to drivers with tickets. Only having one speeding ticket or other violation can bump up the cost by twenty percent. Drivers unfortunate enough to have severe violations such as reckless driving or DUI are required to submit a SR-22 form with their state’s licensing department in order to keep their license.
• High credit scores save money – Credit history is a large factor in determining your rates. People with excellent credit tend to be less risk to insure than those with bad credit. So if your credit score could use some work, you could pay less to insure your 2009 Volvo V70 by spending a little time repairing your credit.
• Women tend to be lower risk – The statistics show females are less aggressive when driving. However, this does not mean women are BETTER drivers than men. Males and females have accidents at a similar rate, but men cause more damage. Men also have more aggressive citations such as reckless driving.
• Companies want multiple policies – Some companies will give better rates to policyholders who have multiple policies with them. It’s known as a multi-policy discount. Even with this discount, consumers should still comparison shop to help ensure you have the lowest rates.
• High policy claims frequency drives up car insurance rates – If you tend to file frequent claims, you can expect higher rates. Insurance companies provide the lowest premiums to drivers that do not abuse their auto insurance. Insurance coverage is designed for claims that pose a financial burden.

Auto insurance quotes and discounts

Insurance can be prohibitively expensive, but there may be some discounts to help bring down the price. Some discounts will apply at the time you complete a quote, but lesser-known reductions have to be asked about before being credited.

• Seat Belts Save more than Lives – Drivers who always wear seat belts and also require passengers to wear their seat belts may be able to save a few bucks off the personal injury premium cost.
• Safe Driver Discount – Insureds without accidents may save up to 50% more on V70 coverage as compared to drivers with claims.
• Student in College – Children who are attending college and do not take a car to college could get you a discount.
• ABS Braking Discount – Cars and trucks that have steering control and anti-lock brakes can stop better under adverse conditions and therefore earn up to a 10% discount.
• Senior Citizen Rates – If you qualify as a senior citizen, you are able to get a small discount on rates on V70 coverage.
• Discount for Good Grades – Maintaining excellent grades can earn a discount of 20% or more. Most companies allow this discount until age 25.
• Discounts for Government Workers – Being employed by or retired from a federal job may qualify for a discount when you quote insurance coverage on V70 coverage with select insurance companies.
• Active Service Discounts – Having an actively deployed family member could be rewarded with lower auto insurance rates.
• Auto/Life Discount – Insurance companies who offer life insurance give a discount if you purchase a life policy as well.
• Student Driver Training – It’s a good idea to have your young drivers successfully complete driver’s ed class in high school.

Just know that most discount credits are not given the the whole policy. A few only apply to individual premiums such as medical payments or collision. So even though it sounds like you would end up receiving a 100% discount, auto insurance companies aren’t that generous.

Companies and their offered discounts include:

• State Farm has savings for good student, defensive driving training, anti-theft, Drive Safe & Save, Steer Clear safe driver discount, and good driver.
• Geico discounts include daytime running lights, federal employee, multi-vehicle, membership and employees, and defensive driver.
• Progressive offers premium reductions for multi-policy, online signing, continuous coverage, online quote discount, and multi-vehicle.
• 21st Century offers discounts for anti-lock brakes, 55 and older, homeowners, early bird, theft prevention, and teen driver.
• American Family may offer discounts for good student, early bird, mySafetyValet, bundled insurance, and multi-vehicle.
• The Hartford may have discounts that include air bag, vehicle fuel type, bundle, driver training, defensive driver, anti-theft, and good student.
• AAA offers discounts including multi-car, AAA membership discount, good driver, pay-in-full, and good student.

When quoting, ask each company or agent which discounts can lower your rates. Savings may not apply to policies in your area. To find insurers that offer some of these discounts, click here to view.

Switch companies and save? Really?

Well-known car insurance companies like Allstate, Geico and Progressive seem to constantly run television, radio, and online ads. All the ads seem to make the promise that you’ll save big if you move your car insurance coverage to their company. How do they all give you a lower rate? You have to listen carefully.

Most companies have a preferred profile for the right customer that will not have excessive claims. For instance, this type of driver may need to be between the ages of 30 and 45, has no driving citations, and drives a safe vehicle. A customer getting a price quote who fits those characteristics will get a cheap rate quote and will most likely cut their rates if they switch.

Potential customers who cannot meet those criteria will be charged higher premium rates which leads to the prospect going elsewhere. The wording the ads use say “people who switch” not “everyone that quotes” save that kind of money. That is how companies can truthfully make the claims of big savings.

This emphasizes why you really need to compare price quotes frequently. It’s impossible to know with any certainty which company will provide you with the cheapest auto insurance rates.

Situations that may require an agent’s advice

When buying adequate coverage, there really is no best way to insure your cars. Every situation is different and a cookie cutter policy won’t apply. For instance, these questions may help you determine if your situation might need professional guidance.

• If my pet gets injured in an accident are they covered?
• Can I pay claims out-of-pocket if I buy high deductibles?
• Why am I required to buy liability insurance?
• Can my teen driver be rated on a liability-only vehicle?
• How does medical payments coverage work?
• Why do I only qualify for high-risk insurance?
• Do I have coverage when using my vehicle for my home business?
• I have a DUI can I still get coverage?

If you don’t know the answers to these questions then you might want to talk to a licensed insurance agent. To find an agent in your area, simply complete this short form or you can go here for a list of companies in your area.

Specific coverages for a 2009 Volvo V70

Learning about specific coverages of your policy helps when choosing the right coverages and proper limits and deductibles. Insurance terms can be impossible to understand and reading a policy is terribly boring. These are the usual coverages found on the average insurance policy.

Uninsured and underinsured coverage

This provides protection from other motorists when they either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and damage to your Volvo V70.

Since many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is important protection for you and your family. Normally these limits are set the same as your liablity limits.

Coverage for medical payments

Med pay and PIP coverage kick in for short-term medical expenses like surgery, prosthetic devices, doctor visits, X-ray expenses and ambulance fees. They can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Coverage applies to you and your occupants as well as being hit by a car walking across the street. PIP is not an option in every state and gives slightly broader coverage than med pay

Comprehensive coverages

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

Comprehensive coverage protects against claims such as a tree branch falling on your vehicle, theft, damage from flooding and a broken windshield. The highest amount your insurance company will pay is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Auto collision coverage

Collision insurance pays for damage to your V70 caused by collision with another car or object. A deductible applies then your collision coverage will kick in.

Collision can pay for claims such as backing into a parked car, crashing into a building, sustaining damage from a pot hole, hitting a mailbox and colliding with a tree. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. Another option is to bump up the deductible to save money on collision insurance.

Liability auto insurance

This coverage protects you from injuries or damage you cause to a person or their property. This coverage protects you from claims by other people. It does not cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 50/100/50 that means you have $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property. Alternatively, you may have a combined limit that pays claims from the same limit without having the split limit caps.

Liability coverage pays for things like pain and suffering, medical expenses, repair costs for stationary objects, court costs and structural damage. The amount of liability coverage you purchase is your choice, but it’s cheap coverage so purchase as high a limit as you can afford.

What is YOUR best insurance company?

When trying to cut insurance costs, never reduce coverage to reduce premium. There have been many situations where an insured cut comprehensive coverage or liability limits and found out when filing a claim that saving that couple of dollars actually costed them tens of thousands. The aim is to buy a smart amount of coverage for the lowest cost while not skimping on critical coverages.

We’ve covered many ways to save on 2009 Volvo V70 insurance. The key thing to remember is the more companies you get prices for, the higher your chance of finding inexpensive insurance coverage. You may even find the biggest savings come from the smaller companies. Some small companies can often insure niche markets at a lower cost than the large multi-state companies such as Geico and State Farm.

For more information, take a look at these articles:

• Auto Insurance Basics (Insurance Information Insitute)
• Distracted Driving (Insurance Information Insitute)
• Airbag FAQ (iihs.org)
• Collision Insurance Coverage (Nationwide)
• Can I Drive Legally without Insurance? (Insurance Information Insitute)
• Uninsured Motorist Statistics (Insurance Information Insitute)